Underwater Nation

Underwater Nation

Are you or a loved one having trouble staying afloat? You’re truly not alone. While the media reports low unemployment and a rising stock market, the reality is that almost 20 percent of the country lives in “Underwater Nation,” with zero or even...
Crime Can Pay if It’s Big Enough

Crime Can Pay if It’s Big Enough

Wow, $5 billion. That’s the stunning amount Goldman Sachs has agreed to pay to settle federal criminal charges over its shameful financial scams, which helped wreck America’s economy in 2008. That’s a lot of gold, even for Goldman. Yet the Wall...
A Flat-footed Backflip for Wall Street

A Flat-footed Backflip for Wall Street

Congress, which had been so tied up in a partisan knot by right-wing extremists that it became unable to move, suddenly sprang loose at the end of the year. Before heading home for the holidays, it put on a phenomenal show of acrobatic lawmaking. In one big,...
The Robin Hood Tax

The Robin Hood Tax

I spent 22 years in the financial services business. Beginning in the 1980s, I worked at exchanges where we traded everything from futures on soybeans to shares of stock to options on interest rates. During these boom years for the U.S. and global financial markets,...
Getting Main Street to Call the Shots

Getting Main Street to Call the Shots

Thanks to massive bailout funding from the Federal Reserve and U.S. Treasury, Wall Street survived the financial crash it created. This year, its titans are enjoying record share prices, corporate profits, and executive bonuses. The financial assets of America’s...