A divided federal appeals court has ruled that the U.S. Securities and Exchange Commission’s in-house administrative judges are not constitutionally appointed, raising the prospect that the U.S. Supreme Court may need to address the issue…
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Under Obama, 10.7 Million More Use Food Stamps—A 32 Percent Jump…
As President Obama prepares to leave office, his legacy will include an increase in the number of Americans using food stamps. The number of food stamps recipients went up by 10.7 million people, a 32 percent jump, since President Obama took office in 2009, according to data released by the Department of Agriculture (USDA)…
Trump, Russia and China…
It has become clear his attitude towards Russia and China is very different from that of his predecessors. Amazingly, he is already wresting power from the deep state, causing it great resentment, which under Obama, Clinton and the Bushes, ran geopolitical policy. From January, barring accidents the world will not be the same, the establishment […]
The Rise and Fall of Obamacare: Will the Inside Story Ever be Told?…
My friend and former colleague Wendell Potter, the CIGNA insurance public relations chief who saw the evil of his ways and left his job, is starting a new non-profit journalism enterprise called Tarbell. The investigative story I want to see from Wendell is one I am sure he will never tell: an insider exposé of […]
Factory Near Carrier Sends Jobs to Mexico…
Just a few miles away from the Carrier plant in Indianapolis where President-elect Donald Trump celebrated his role in stopping 730 jobs from moving to Mexico earlier this month, another corporation is shutting its factory and moving it to Mexico…
A Battle Over American-Made Products Is Looming and Republicans Are in the Middle of It…
We warned that Trump would be forgiven a great deal if he increased wages and reduced un- and underemployment. But as his economic plans begin to crystalize, many of his big priorities are near and dear to Republicans, namely, cutting taxes and getting rid of Obamacare…
Colorado Cannabis Sales Top $1 Billion & Oregon Sales Defy Expectations…
Legal cannabis is booming, and with Colorado netting $1 billion in legal, regulated sales in the first 10 months of 2016, the industry’s growth isn’t showing any signs of slowing. Sales of both recreational and medical cannabis hit $1.1 billion by October…
Banks Pay $12.5B to End Probe into Sales of Toxic Debt…
Deutsche Bank AG and Credit Suisse Group AG agreed to pay a combined $12.5 billion to resolve U.S. investigations into sales of the toxic debt that fueled the financial crisis…Deutsche Bank will pay $7.2 billion and take a $1.2 billion pretax charge this quarter, while Credit Suisse agreed to a $5.3 billion deal and will […]
China’s Gold Market Opens Up To Boost RMB Internationalization…
Last week the Shanghai Gold Exchange (SGE) launched a new English website to offer international customers more information and tools on trading gold in renminbi through its subsidiary in the Shanghai Free Trade Zone the Shanghai International Gold Exchange (SGEI). BullionStar took the opportunity to…
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Eight Years After an Epic Banking Crash, America’s Biggest Threat Is Still Its Banks…
In 1934 the U.S. had 14,146 commercial banks holding insured deposits. By 1985, that number had barely budged, standing at 14,417. Then came the Bill Clinton administration in the 1990s and its reckless and unprecedented banking deregulation which allowed the giant Wall Street banks to swallow up, or drive out of business, thousands of banks […]
Whistleblower Vindicated: Massive Trading Firm Knight Capital Charged With Abusing “Naked Shorts”…
Back in September, I wrote a seven-part series at The Intercept chronicling how former Wall Street trader Chris DiIorio, determined to figure out how he lost a small fortune on a penny stock, came to the conclusion that gigantic market-making firm Knight Capital, now known as KCG, repeatedly violated federal regulations meant to…
Restoring American Competitiveness
As the United States strives to recover from the current economic crisis, it’s going to discover an unpleasant fact: The competitiveness problem of the 1980s and early 1990s didn’t really go away. It was just hidden during the bubble years behind a mirage of prosperity, and all the while the country’s industrial base continued to […]
UPDATE: Man Who Stole $1.6 Million Bucket Full Of Gold In Midtown Manhattan Has Been Identified…
Three weeks ago we reported that in what may have been one of the most brazen thefts in Manhattan’s jewelry district, a man brazenly swiped an 86-pound bucket full of gold worth $1.6 million from the back of an unattended Loomis armored truck…
The Obama ‘Recovery’: Number Of Millennials Living At Home With Mom Reaches 75-Year High…
Millennials finally get to claim a trophy for an achievement they actually earned (no participation medals here)…that’s right, Millennials have officially set a 75-year record for highest percentage of young adults living at home with mom…
Why the Massive Expansion of “Money” Hasn’t Trickled Down to “The Rest of Us”…
If anyone wonders why this monumental expansion of “money” hasn’t sparked generalized wage inflation maybe one factor is that very little of this new money has trickled down to the bottom 95%. This is why I contend that If We Don’t Change the Way Money Is Created and Distributed, We Change Nothing (December 24, 2015)…
How Did a Nation Crippled by Wall Street Billionaires End Up With Them Running the Country?…
Donald Trump is increasingly looking like Wall Street’s back up plan in the event that the Wall Street Democrats didn’t triumph in the 2016 election. Trump has appointed two Goldman Sachs alumni and the current President of Goldman Sachs to top posts in his administration. On Monday, Trump announced…
China Tycoon Moves Jobs to Ohio, Citing High Taxes & Labor Costs at Home…
A Chinese auto glass tycoon has caused a stir by shifting part of his empire to the United States and setting up a factory in Ohio, citing high taxes and soaring labour costs at home. Cao Dewang’s $600-million investment comes after Donald Trump threatened to declare Beijing a currency manipulator and slap 45 percent punitive […]
STUDY: America Created 10 Million New Jobs in Last Decade. Almost All Are Temp or Contract Gigs…
Ninety-four percent of the 10 million net new jobs created between 2005 and 2015 were either temporary or contract-based, not conventional 9-to-5 positions, according to a study by Princeton and Harvard economists. In that time period, the proportion of American workers engaged in some type of alternative employment…
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EPA Refuses to Explain Why It Let Pollution Sit for Decades…
Environmental Protection Agency (EPA) officials refuse to explain why they let pollution fester at up to 302 highly-contaminated sites under their authority for years or even decades. They also won’t explain what they’re doing to protect people’s health…
Soaring Sales Forecasts for Colorado, Massachusetts Marijuana Markets…
The first state to legalize recreational marijuana use is on track to see total sales top $2 billion by 2020. Colorado’s medical marijuana sales for this year are projected at $438 million, and recreational sales are forecast to reach $739 million. By 2020, medical cannabis sales are forecast to reach…
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