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The Best in Alternative News

Wall Street Wins OK for Payouts Worth Billions in Fed Stress Tests…

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The largest U.S. banks are poised to return billions of dollars to investors after Federal Reserve stress tests showed planned dividends and stock buybacks wouldn’t leave them too weak to survive a harsh economic downturn. Under the most severe test scenario, a recession with unemployment spiking to 10% and the Dow Jones Industrial Average falling […]

The Wolves Have Turned on Each Other on Wall Street…

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Some decades back, the late MIT economist Lester Thurow wrote this: “Essentially, the economic problem is like that of the wolf and the caribou. If the wolves eat all the caribou, the wolves also vanish.” What Thurow did not take into consideration is that if the wolf pack is large enough, it can survive for […]

Turns Out That Trillion-Dollar Bailout Was, in Fact, Real by Matt Taibbi…

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Last summer, Washington Post “Fact-checker” columnist Glenn Kessler wrote that the Medicare for All plan favored by Sen. Bernie Sanders (I-VT) would cause “providers” to face an “immediate cut of 40 percent in their payments.” The piece was quickly amended to reflect that the cuts only referred to private insurance payments, leaving Medicare recipients untouched. […]

Jeffrey Epstein Was Said to Be a Witness Against Wall Street…

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How did convicted sex offender and billionaire money manager Jeffrey Epstein receive a relatively mild sentence for a crime that involved underage girls? As the decade-old case continues to make headlines, one rationale goes something like this: Epstein, a friend of former President Bill Clinton and President Donald Trump, was able to serve just 13 […]

A Look Back at How Reforming Wall Street Failed So Miserably Under Obama…

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Progressives have every right to harbor a seething contempt toward the Wall Street wing of the Democratic Party. Democrats controlled both houses of Congress in the last two years of George W. Bush’s presidency as Wall Street blew itself up and Congress passed the massive taxpayer bailout of the Wall Street mega banks. (Democrats held […]

4,823 U.S. Banks Have Disappeared Since 1999…

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At the end of 1999, the year that President Bill Clinton and his  Treasury Secretary Robert Rubin brokered the deal to repeal the Glass-Steagall Act of 1933 and allow the casino investment banks on Wall Street to gobble up deposit-taking banks, there were 10,220 federally insured banks and savings institutions in the United States. Today, […]

26 Billionaires Own as Much as World’s 3.8 Billion Poorest People…

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While the wealth of billionaires increased by $900 billion last year, or $2.5 billion a day, latest Oxfam report on inequality shows “this bonanza has not been felt by the poorest half of the world, which saw its wealth decline by 11 percent.” With Wall Street titans, tech moguls, and other members of the global […]

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