Defending the Top 1 Percent — and Failing at It
An academic heavyweight from Harvard has taken up the cause of America’s most affluent 1 percent. But his defense has done the nation’s rich no favors. By Colin Gordon [caption...
Corporate Power
The Great Cyprus Bank Robbery
Cyprus is the latest European country to face a budget and banking crisis. Its deregulated banks have accumulated huge losses and now face imminent bankruptcy. Like the United States government,...
The Debt Ceiling Gives the President Enormous Power — He Should Use It
In theory the federal government will bump up against the debt ceiling in late February or early March. Ever since George Bush's 2001 tax cuts the government hasn't collected enough...
An American Financial Transactions Tax? Don’t Hold Your Breath
America has finally started talking about a financial transactions tax (FTT) on Wall Street. About time. Academics have always known that FTTs are among the most efficient, best-targeted, least painful...
The Tiny Tax that Terrifies Wall Street
Robin Hood would not be happy if he happened upon our incredibly top-heavy modern world. But the new campaign to levy a tax on speculative trading would most likely have...
Financial Professionals Support Transaction Tax
More than 50 financial industry experts endorsed a letter calling for a tax to rein in Wall Street speculation
On Wall Street, Still Tis the Season to Be Jolly?
Financial industry insiders are grousing about a big downturn in annual bonuses. They should be thanking the rest of us — bombshell new research shows — for their continuing awesome...
How to Make $30,000 a Day by Bankrupting Your Company: Jon Corzine and MF Global
In March 2010 former Goldman Sachs CEO, US Senator, and Governor of New Jersey Jon Corzine was appointed Chairman and Chief Executive Officer of MF Global, a mid-tier investment bank. ...
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,...