Category: Economy
The Deficit Crisis Is Over
by Doug Henwood | May 16, 2013 | Economy(The Congressional Budget Office released its latest debt and deficit projections for the next ten years. There’s no way any honest analyst could read them as anything but the official end to any rational concern about red ink, says Doug Henwood. Image source: CBO) Given that the phantasmic plays such a large role in politics, it’s […]
Can a Billionaire Who Got Rich Investing in Big Oil Fight Big Oil?
by Darwin Bondgraham | May 15, 2013 | Economy, Environment(BusinessWeek featured the above photo of billionaire Tom Steyer holding a jar of tar-sands oil. The article, titled “Tom Steyer: The Wrath of a Green Billionaire,” lauded his crusade to stop construction of the proposed Keystone XL pipeline, which would transport tar-sands oil from Canada to the Gulf of Mexico. As Darwin Bondgraham reports, part […]
Tax Havens and the Return of the Pirates
by Daniel Innerarity | May 6, 2013 | Economy(Last summer, the Tax Justice Network released a study estimating around $21 trillion is being held in offshore tax havens, which is equal to the annual GDPs of the U.S. and Japan. Tax havens, says philosopher Daniel Innerarity, exemplify our new age of piracy: TJN) Piracy is no longer a historical curiosity or a simple […]
Did Bain and 9 Wall Street Firms Conspire to Slash Stock Prices of Companies They Raided?
by Darwin Bondgraham | May 3, 2013 | Economy(Bain Capital is now famous for being founded by former Republican presidential candidate Mitt Romney, center, whose estimated worth is $250 million. Bain Capital is one of 10 private-equity firms defending itself in a civil case that alleges they conspired to defraud investors. This photo is from 1984. Source: WP) Private equity is poised to […]
House Finance Chair Hensarling Vacationed with Wall Street
by Justin Elliot | May 2, 2013 | Economy(Texas Republican Jeb Hensarling, chairman of the House Financial Services Committee, vacationed with Wall Street bankers in January, raising concerns of conflicts of interest: Fox.) In January, Rep. Jeb Hensarling, R-Texas, ascended to the powerful chairmanship of the House Financial Services Committee. Six weeks later, campaign finance filings and interviews show, Hensarling was joined by […]