After heads rolled last week at Barclays Bank following admission that the bank rigged key interest rates that underlie millions of consumer loans from home mortgages to credit cards, there are new allegations that other banks may be involved, and that this massive rip-off has been going on for decades. As one financial insider admitted to The Economist, “fifteen years ago, the word was that LIBOR was being rigged.” The insider wen
So-called Emergency Financial Managers in Michigan are selling off public schools to private charter school corporations – and laying off hundreds of public school teachers in the process. The “mini-dictators” who – appointed by Republican Governors – have unprecedented power to fire local elected officials, break union contracts, and sell off our commons to corporate interests have decided to eat alive the public school system in West M
Despite promising to renegotiate the bailout deal, to soften austerity measures coming down the pike, the new Conservative coalition government in Greece is moving forward with harsh new spending cuts. Even though the New Democracy party supported the bailout and austerity program during the campaign, the Party did promise to soften the austerity blow and have the spending cuts spread out over two years rather than inflicted immediately.
With the Socialists now in control of France – the wealthy are again - after a long pause of tax cuts for the rich under Sarkozy - being asked to sacrifice their fair share. President Francois Hollande introduced a new budget on Wednesday – restoring pre-Sarkozy tax rates on the rich.
One giant pharmaceutical company just got busted for putting profits ahead of peoples’ lives. In the largest healthcare fraud settlement in U.S. history, British drug maker GlaxoSmithKline was slapped with $3 billion in fines after pleading guilty to a number of criminal and civil violations related to 10 drugs the company produces that are taken by millions of Americans.
Hundreds of thousands of people are still without power around the nation’s capital – and left to deal with a record breaking heat wave alone. Fueled by all-time temperature highs on Friday, a massive freak storm ripped across the Mid-Atlantic Friday night – killing at least 15 people and knocking out power to more than three million.
The Supreme Court’s health care ruling on Thursday protected hundreds of millions of Americans from being denied health insurance for pre-existing conditions, kept millions of young people insured under their parents healthcare plans, and will eventually lead to coverage of more than 30 million Americans who previously did not have access to health insurance.
Despite what you might have seen on cable news networks Fox News and CNN, the Supreme Court upheld Obamacare today – ruling that Congress does have the power to penalize Americans who don’t buy health insurance – which was how the individual mandate works. Chief Justice John Roberts was the swing vote – siding with the four justices on the left to uphold the law.
New York Attorney General Eric Schneiderman is taking a close look at the Chamber of Commerce’s political activities.On Tuesday – Schneiderman issued a subpoena to executives with organizations that have funneled millions of dollars into the Chamber of Commerce under the disguise of charitable contributions, to determine whether or not that money was actually used for political purposes – like running ads against Democrats and
One day after the Supreme Court struck down nearly the entirety of Arizona's controversial anti-immigration law SB-1070 – prompting a blatant political attack against the President by Supreme Court Justice Antonin Scalia – one of the top ranking Republicans in the Senate – Jon Kyl – is suggesting President Obama could be impeached over his handling of immigration enforcement.