More criminals are being named in Senator Carl Levin’s report on the causes of the 2008 financial crisis. According to the report – executives at the bank Washington Mutual were feverishly re-selling exploding mortgages to their clients – even though they knew they were completely worthless. In a 2005 memo – Washington Mutual CEO Kerry Killinger told an executive, “I have never seen such a high-risk housing market…this typically sig
President Obama delivered his big deficit-reduction speech yesterday. The President’s plan pledged to cut $4 trillion out of the deficit over the next 12 years by reducing domestic and defense spending – getting more bang for the buck in Medicare – ending the Bush tax cuts – and closing corporate tax loopholes. He also used the stage to draw a clear contrast between his plan and the Republican plan written by Paul Ryan that will lik
Our economy is screwed. Top Republicans have come forward to say they are more than willing to crash our economy by pushing back a vote on raising the debt ceiling until July. On May 16th – our nation is expected to reach its debt limit – and if no action is taken we could be facing a Greek-style implosion of our economy.
You need to know this. A budget isn't just numbers - it's a statement of morality and our values. And conservatives are showing their true colors. Republicans will likely vote on Paul Ryan’s budget this week, benefitting only the top 1% of Americans, that sells off Medicare to for-profit health insurance company leeches – hands an enormous tax cut to millionaires and billionaires – and sinks our nation deeper into debt – but t
Even though a government shutdown was averted – working class people will still be screwed over in America. A new report by Wealth for the Common Good shows that the 400 richest people in America – our nation’s oligarchs – have never had it so good and are paying the lowest taxes ever in their lifetimes.
A government shutdown at the end of the week looks all but certain now. Yesterday – a meeting between Speaker of the House John Boehner and Senate Majority Leader Harry Reid failed to produce a budget deal. Due to procedural rules in Congress – a deal needed to be reached by last night to allow for a vote before Friday when the government runs out of money.
Walker handed over an $81,500 job overseeing state environmental regulations to the son of a wealthy campaign donor
Speaking of Wisconsin – a little-known provision in Scott Walker’s anti-union bill converts 37 government workers into political appointees to be handpicked by Walker himself. So what can we expect form Walker’s choices? Apparently not much…the Milwaukee Journal Sentinel reported yesterday that Walker handed over an $81,500 job overseeing state environmental regulations to the son of a wealthy campaign donor in what looks like a quid pro quo.&nb
In Japan – officials estimate that 7 tons of radioactive waste is flowing into the ocean every hour at the crippled Daiichi nuclear facility. The source of the leaking waste appears to be reactor 2. Attempts to clog the leak with cement have failed – and new attempts to plug the hole with a “junk-shot” of saw dust – chemicals, and shredded newspaper doesn’t appear to be working either.