Economic Glance
In Inside Job, the name that keeps cropping up is Larry Summers, a friend of President Bill Clinton and more recently Barack Obama. Summers exemplifies the links between cheerleaders in academia, Wall Street, supine regulators and an ignorant Capitol Hill that Ferguson stresses were at the root of the problem. It helps that Summers looks like a mafia boss, but the difficulties in making the case against him are shown by the need to explain financial products like credit default swaps and how securitisation was used by banks to increase their borrowing.
Inside Job: how bankers caused the financial crisis
Businesses are refusing to hire the unemployed, commission told
Being unemployed is, for many, not fun. There are no co-workers to mock at the water cooler, no expense accounts on which to wine and dine associates and no impressive title to drop when you're trying to pick up the ladies (or men, for that matter).
Now there's a growing trend of employers refusing to consider the unemployed for job openings, according to a number of people who testified before the U.S. Equal Employment Opportunity Commission on Wednesday. They say that employers are barring the unemployed from job openings, which is particularly unfair to older workers and African Americans because more of them are unemployed.
Companies Warn That Higher Prices Are Looming
A package of Oscar Mayer cold cuts. A pair of Nine West boots. A Whirlpool washing machine. By the fall, people will most likely be paying more for each of them, as rising prices hit most consumer goods, say retailers, food companies and manufacturers of consumer products.
Cotton prices are near their highest level in more than a decade, after adjusting for inflation, and leather and polyester costs are jumping as well. Copper recently hit its highest level in about 40 years, and iron ore, used for steel, is fetching extremely high prices. Prices for corn, sugar, wheat, beef, pork and coffee are soaring. Labor overseas is becoming more expensive, meanwhile, and so are the utility bills to keep a factory running.
The Problem With Transnationals And What To Do About It
New York’s Public Advocate, Bill de Blasio, recently released a very important study about Wal-Mart’s effects on local communities. It represents a major step forward in the understanding of the effects of Big Business.
The main conclusions are shocking, to the point, and make clear what damage Wal-Mart actually managed to do to the American economy. The fundamental conclusions are these:
Biggest Scam in World History Exposed
An AMAZING fact: The Federal bailout is more than the cost of the First World War, the Second World War, the Korean War, the Vietnam War, Marshall Plan, the New Deal, the Invasion of Iraq, and landing on the moon COMBINED!
And, with this bailout Obama has nearly created more debt than ALL the previous presidents COMBINED.
Dr. Paul is now the Chairman of the Congressional subcommittee overseeing the Federal Reserve, which as you may know, is a private entity yet largely responsible for our economic policies.
An era of cheap food may be drawing to a close
U.S. grain prices should stay unrelentingly high this year, according to a Reuters poll, the latest sign that the era of cheap food has come to an end. U.S. corn, soybeans and wheat prices -- which surged by as much has 50 percent last year and hit their highest levels since mid-2008 -- will dip by at most 5 percent by the end of 2011, according to the poll of 16 analysts.
The forecasts suggest no quick relief for nations bedeviled by record high food costs that have stoked civil unrest. It means any extreme weather event in a grains-producing part of the world could send prices soaring further.
Goldman Sachs chief Lloyd Blankfein gets $15m pay award
Wall Street firm Goldman Sachs Group has tripled the base salary of chief executive Lloyd Blankfein to $2m (£1.3m), up from $600,000. And company filings show he was also awarded shares currently worth $12.6m, a 42% hike from the the stock bonus he received for 2009.
It comes even after the bank's profit fell 38% in 2010 to $8.35bn. Banks were pressed to reduce bonuses in 2009 after the 2008 global economic collapse, largely blamed on bankers.
More Articles...
Page 29 of 68
