Salvatore Babones: The Great Cyprus Bank Robbery
To make bank depositors pay for a bank bailout is sheer robbery. There is no other word for it.
Tag Archives: Wall Street
Salvatore Babones: The Debt Ceiling Gives the President Enormous Power — He Should Use It
The debt ceiling gives the President enormous power. Instead of letting the Republicans dictate terms to him, he should dictate terms to the Republicans. Here’s how to do it.
Salvatore Babones: An American Financial Transactions Tax? Don’t Hold Your Breath
America has finally started talking about a financial transactions tax on Wall Street. But in the post- Citizens United era of unlimited corporate campaign spending, expect corporate dollars to trump the public good.
Sam Pizzigati: On Wall Street, Still Tis the Season to Be Jolly?
Wall Street’s power suits aren’t humming along, this December, with all the holiday jingles. Bankers, traders, and law firm partners are quite frankly feeling kind of foul. End-of-year Wall Street bonuses, experts predict, are going to be down from 2010 levels — by as much, on average, as 35 percent. Total 2011 pay for the [...]
Salvatore Babones: How to Make $30,000 a Day by Bankrupting Your Company: Jon Corzine and MF Global
The MF Global Bankruptcy is bad news for MF Global’s employees, account holders, and creditors. Is it bad news for Jon Corzine?
Salvatore Babones: The Greek Debt Crisis: What’s Going on in Europe?
As the economic news in the United States gets worse and worse every week, a lot of Americans are saying “at least we’re not Europe.” To read the press accounts, it sounds like Greece is plunging Europe into a second Great Depression. Greece is having trouble paying its debts, and many people are worried that [...]
Salvatore Babones: Occupy Wall Street? Better Occupy Greenwich
Occupy Wall Street protests in lower Manhattan have struck at the heart of American corporate capitalism. What about Occupy Greenwich?
Sam Pizzigati: Our Chronic Cronyism — and Corruption
America’s top bankers and CEOs don’t have any more talent than millions of other Americans. They do have, two timely new data dumps remind us, plenty of generous friends in pivotal places.