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ECONOMY

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The Rich Get Even Richer

via Steven Rattner, The New York Times New statistics show an ever-more-startling divergence between the fortunes of the wealthy and everybody else — and the desperate need to address this wrenching problem. Even in a country that sometimes seems inured to income inequality, these takeaways are truly stunning. In 2010, as the nation continued to … Continue reading

Social Conservatism And Sex: Making War Against Love

via David Allyn, Chicago Tribune We seem to be living in a time warp. Conservatives are denouncing not just abortion, but birth control. There was the Rush Limbaugh “slut” episode. Actor Kirk Cameron called homosexuality “unnatural,” “detrimental” and “ultimately destructive.” Meanwhile, Rick Santorum sees Satan lurking in America’s bedrooms. At first blush, such backwardness might … Continue reading

America Isn’t A Corporation

via Paul Krugman, The New York Times “And greed — you mark my words — will not only save Teldar Paper, but that other malfunctioning corporation called the U.S.A.” That’s how the fictional Gordon Gekko finished his famous “Greed is good” speech in the 1987 film “Wall Street.” In the movie, Gekko got his comeuppance. … Continue reading

In A Post-Postal World, Christmas Still Delivers

via Monica Hesse, The Washington Post The scent inside this squat federal building is not fir or cinnamon, but it does have its own particular holiday aroma: cardboard Priority Mail envelopes and packing tape. Christmas at the post office. Possibly the one time of year when everybody still makes a pilgrimage here. Over a lunch … Continue reading

Why Congress Can’t Save The Postal Service Right Now

via Jennifer Liberto, CNN There’s one thing that turns some Tea Party Republicans into government-job lovers like their Democratic rivals: Their neighborhood post office. In fact, the U.S. Postal Service’s reach into every state and congressional district is a big reason why Americans shouldn’t expect Congress to make the drastic changes that the postmaster general … Continue reading

Bank Lobbying On Track To Reach Record High This Year

via The Huffington Post Big banks are on track to spend a record amount lobbying lawmakers this year. The five banks that spend the most on lobbying have boosted their lobbying outlays by 12 percent in the first three quarters of 2011, compared to the same period last year, according to an analysis by the … Continue reading

Co-Chairmen: Super Committee Has Failed

via Ryan Teague Beckwith, Roll Call News The super committee has officially failed. In a joint news release, Joint Committee on Deficit Reduction Co-Chairmen Sen. Patty Murray (D-Wash.) and Jeb Hensarling (R-Texas) said they concluded today that they will not be able to make “any bipartisan agreement” public before the deadline. The brief statement was … Continue reading

Obama’s Economic Policies Faring Better In Europe

via Richard Wolf, USA Today After spending less than 36 hours in Europe last week for a G-20 summit of world economic leaders, President Obama may wish he could run on his record for re-election here rather than back home. The stalled U.S. economy, his biggest political burden, is doing just fine by today’s European standards. His actions in … Continue reading

What Eats Up 53 Cents Of Every Tax Dollar?

via Softbox Films

White House, Pushing Richard Cordray’s Nomination To CFPB, Cites Occupy Wall Street

via Sam Stein, The Huffington Post The Obama administration has been careful in its handling of the Occupy Wall Street movement, expressing sympathy with the sentiment behind it but never going so far as to formally endorse it. But on financial regulatory and consumer protection issues, there is a clear — and inviting — overlap … Continue reading

Change of Subject: Cut libraries? Shush!

via Eric Zorn, Chicago Tribune Mayor Rahm Emanuel’s proposal to cut staff and hours of operation at public libraries in the new city budget comes at a time when this cherished institution is already facing “formidable challenges” coast to coast, according to a recent policy report from the Chicago-based American Library Association. In an increasingly … Continue reading

Harry Reid Channels #Occupy Wall Street, Says GOP Works For The 1%

via Michael McAuliff, The Huffington Post Senate Majority Leader Harry Reid leveled a blistering attack at Republicans Tuesday that echoed the message of Occupy Wall Street, saying the GOP wants to protect the very richest Americans at the expense of everyone else. Reid (D-Nev.) was arguing against Senate Republican resistance to a $60 billion measure … Continue reading

Bank of America Scraps Plans For Debit Card Fee

via Tom Braithwaite, Financial Times Bank of America became the latest US bank to scrap plans for a debit card fee, acting after worries that customers of the second-largest US bank by deposits would move their accounts. BofA said its u-turn was a “response to customer feedback and the changing competitive marketplace”. Analysts had worried … Continue reading

House GOP’s ‘Job Creating’ Spending Cuts Destroyed 370,000 Jobs

via Travis Waldron, ThinkProgress House Republicans took the government to the brink of shutdown last spring by demanding across-the-board budget cuts to many vital programs. Instead of focusing on job creation, as Americans wanted them to, the GOP turned its attention to slashing funds for programs that funded assistance for women and children, local law … Continue reading

Nevada Makes Illegal Foreclosures Felony

via Mike Colpitts, Housing Predictor Responding to homeowner complaints, Nevada has become the first state in the nation to make illegally repossessing a home a felony, and may send bankers to jail for doing such. The new law was enacted after tens of thousands of homeowners complained to lawmakers about their homes being foreclosed without … Continue reading

Police Violence Sparks General Strike Idea Within ‘Occupy Wall Street’

via Kenneth Rapoza, Forbes The Occupy Wall Street movement is going for broke following a rash of police violence reports, especially one in Oakland, California this week. The adhoc headquarters at Adbusters magazine in Vancouver said the movement is testing the waters with its roughly 93,000 list serve members to gauge interest in calling for … Continue reading

Why Not #Occupy Newsrooms?

via David Carr, The New York Times Almost two weeks ago, USA Today put its finger on why the Occupy Wall Street protests continued to gain traction. “The bonus system has gone beyond a means of rewarding talent and is now Wall Street’s primary business,” the newspaper editorial stated, adding: “Institutions take huge gambles because the short-term returns … Continue reading

Police, Protesters Clash In Atlanta & Oakland

via Darryl Bush, USA Today Police guarded newly cleared plazas early Wednesday in Atlanta and Oakland, Calif., after clearing Occupy Wall Street protest camps in both cities. Dozens of demonstrators were arrested in swift crackdowns by riot squads after local authorities lost patience with the rallies. Helicopters hovered and trained spotlights on downtown Atlanta as … Continue reading

The Future Of The #Occupy Movement: Solidarity & Escalation

via Mark Engler, Common Dreams A month after it began with a few hundred people marching on Wall Street, the #Occupy movement has grown to include tens of thousands of participants throughout the country and has captured headlines around the world. If it has not yet succeeded beyond its wildest dreams, that’s only because its participants … Continue reading

Occupy Wall Street Protests On GE CEO’s Lawn

via Alyssa Newcomb, ABC News A crowd of 100 protesters, some from New York City’s Occupy Wall Street movement and others from Occupy New Haven, came together in a show of solidarity on Saturday afternoon on General Electric CEO Jeff Immelt’s front lawn in New Canaan, Connecticut. “[General Electric is] an enormously successful company that pays no … Continue reading

Occupy Chicago Petitions Rahm Emanuel

via Mark Cassello, The Huffington Post On Friday, October 21, 2011 at 1:30 p.m., fifty members representing Occupy Chicago hand delivered a petition to Mayor Rahm Emanuel’s office in City Hall. The petition has already garnered 9,945 signatures since it was created last Sunday. It is written in response to the Chicago Police Department’s arrest … Continue reading

New Report Shows More Workers Falling Behind Average Wage Level

via Tom Raum, Associated Press, Chicago Tribune Fifty percent of U.S. workers earned less than $26,364 last year, reflecting a growing income gap between the nation’s rich and poor, the government reported Thursday. There were fewer jobs, and overall pay was trending down — except for the nation’s wealthiest. The number of people making $1 … Continue reading

Herman Cain’s Campaign, 9-9-9 Tax Plan Face Greater Scrutiny As GOP Race Heats Up

via Amy Gardner, The Washington Post Herman Cain has succeeded in introducing himself to voters. He has moved from the bottom of the pack all the way to the top. His “9-9-9” tax plan is the most talked-about proposal of the fight for the Republican nomination. But as the battle moves beyond televised debates and into a phase … Continue reading

The Most Powerful Occupy Wall Street Clip You Will See This Month

via Move On

Meet the Guy Who Snitched on Occupy Wall Street to the FBI and NYPD

via Adrian Chen, Gawker The Occupy Wall Street protests have been going on for a month. And it seems the FBI and NYPD have had help tracking protesters’ moves thanks to a conservative computer security expert who gained access to one of the group’s internal mailing lists, and then handed over information on the group’s plans to … Continue reading

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