This category contains 275 posts

29 Companies Had More Cash Than The U.S. Treasury As Of July 13 | ThinkProgress

          29 Companies Had More Cash Than The U.S. Treasury As Of July 13 | ThinkProgress. Advertisements

ALEC Exposed: Sabotaging Healthcare | The Nation

I was skeptical. I knew from my two decades as an insurance company executive that the industry often conducts duplicitous charm offensives, assuring the public that insurers support consumer-focused reform while executives work surreptitiously to block any reform that might curtail profits. So I was not shocked when I found out that Joan Gardner, executive … Continue reading

Moody’s: Raising the Debt Ceiling Might Not Prevent Downgrade – Daniel Indiviglio – Business – The Atlantic

    Time is running out for Washington to get its act together on the debt ceiling. On Wednesday, credit rating agency Moody’s put the U.S. debt rating on review for possible downgrade. It had warned that a formal review announcement would come if the debt ceiling dispute wasn’t resolved by July. The firm says … Continue reading

Mitch McConnell Debt Ceiling Plan: Senate GOP Leader Offers Alternative To Obama’s ‘Grand Bargain’ [UPDATED]

    WASHINGTON — Senate Minority Leader Mitch McConnell (R-Ky.) floated a novel way out of default Tuesday, suggesting that Congress give up its power to raise the debt ceiling, and instead effectively transfer that authority — and the political pain that comes with it — to the White House for the remainder of Obama’s … Continue reading

Meet America’s 51st (Broke) State | zero hedge

    Meet Southern California. “Accusing Sacramento of pillaging local governments to feed its runaway spending and left-wing policies, a Riverside County politician is proposing a solution: He wants 13 mostly inland, conservative counties to break away to form a separate state of “South California.” Supervisor Jeff Stone, a Republican pharmacist from Temecula, called California … Continue reading

The Unemployed Somehow Became Invisible – NYTimes.com

Fourteen million, in round numbers — that is how many Americans are now officially out of work. Word came Friday from the Labor Department that, despite all the optimistic talk of an economic recovery, unemployment is going up, not down. The jobless rate rose to 9.2 percent in June. What gives? And where, if anywhere, … Continue reading

Defining Deviancy Away: How the Justice Department Adopted “See No Evil” Approach to Corporate Crime « naked capitalism

Gretchen Morgenson and Louise Story have a must-read article in the New York Times on an important aspect of our two-tier justice system, in which only little people seem to be subject to the full force of the law. The article describes how, starting with the Bush Administration and continuing under Obama, the Department of … Continue reading

Debt Ceiling Hypocrisy « naked capitalism

President Obama is not the only debt ceiling flip-flopper. During the Bush administration, when a budget surplus tuned to deficit and debt piled up, Republican leaders in Congress voted to raise the debt ceiling 5 times, increasing the limit nearly $4 trillion. We’re talking about Speaker John Boehner, House Majority Leader Eric Cantor, Senate Minority … Continue reading

Matt Stoller: Who Wants Keep the War on Drugs Going AND Put You in Debtor’s Prison? « naked capitalism

Matt Stoller is a current fellow at the Roosevelt Institute.  His Twitter feed is @matthewstoller. More than a third of all states allow debtors “who can’t or won’t pay their debts” to be jailed.  In 2010, according to the Wall Street Journal, judges have issued 5,000 such warrants.  What is behind the increased pressure to incarcerate … Continue reading

The Unemployment Crisis Is Looking More Structural Every Day – Megan McArdle – Business – The Atlantic

The political debate in America has become almost overwhelmed by the merits or faults of Obamacare and the long run challenges of Americas entitlement system. As big of an issue as these are in the political realm, another, at least as large, issue looms in the economic policy realm. That is, whether our currently elevated … Continue reading