Moral Outrage
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Posts Tagged ‘Wall Street

Why the worst recession since the Great Depression

June 29, 2012

Facts shared in a speech by US Senator Bernie Sanders, the longest serving independent member of Congress in American history: The American people are angry because they are living through the worst recession since the Great Depression. Unemployment is not 8.2%, real unemployment is closer to 15%. Today the wealthiest 400 individuals in America own […]

Goldman Sachs disdain for its clients

March 14, 2012

An executive resigning from Goldman Sachs, the powerful investment bank, said in a blistering essay that the company had lost its “moral fiber” and said managing directors there referred to clients as “muppets.” Greg Smith, an executive director at Goldman, said the company needs to “weed out the morally bankrupt people” and suggested the erosion […]

The 1% and the 99% as viewed by the American public

January 27, 2012

According to a recent poll by the Pew Research Center, 77% of the citizens of the U.S. expressed the belief that the massive power imbalance in place in the nation is a direct result of the vast wealth inequity between the 1% and the 99%. In addition, according to a poll by Time Magazine, 86% […]

Citigroup Replaces JPMorgan as White House Chief of Staff

January 25, 2012

We’ve already made our choice for the best headline of the year, so far: “Citigroup Replaces JPMorgan as White House Chief of Staff.” There’s simply too much truth in that headline; it says a lot about how Wall Street and Washington have colluded to create the winner-take-all economy that rewards the very few at the […]

Bankers are the Dictators of the West

December 11, 2011

We’ve been deluged with reports of how the poor or the disadvantaged in the West have “taken a leaf” out of the “Arab spring” book, and how demonstrators in America, Canada, Britain, Spain and Greece have been “inspired” by the huge demonstrations that brought down the regimes in [the Arab world]. But this is nonsense. […]

US stock market rigged

December 9, 2011

The stock market is rigged. Under former Treasury Secretary Hank Paulson, confidential government information was regularly leaked to select people on Wall Street. The Post got hold of Paulson’s telephone records back in 2009. And the phone logs show that Paulson, the former head of Goldman Sachs, regularly spoke with influential people on Wall Street […]

Karl Rove attack ads against Elizabeth Warren

December 8, 2011

We need to focus on electing champions who’ll fight for the 99%. Why are the 1% funneling big money to Karl Rove’s attack ads against Elizabeth Warren? Because she scares them. Listen to her words and just imagine her in the Senate: “For years I worked to expose how Wall Street and the Big Banks […]

5 Misconceptions about the US Economy

November 23, 2011

MYTH #1: The congressional Super Committee failed because both sides refuse to compromise. REALITY: The Super Committee failed because Republicans’ number one, non-negotiable priority is to protect millionaires and billionaires from paying even one more penny in taxes.1 Democrats repeatedly offered to make deep spending cuts—far deeper than most progressives would like—in exchange for raising […]

The Lessons of the Super Committee: Corruption rules dysfunctional Government

November 17, 2011

It would not be difficult for the so-called “Super Committee” to achieve the requirement of at least $1.2 trillion in savings over the next decade. … But, in many ways, the super committee is “occupied” by corporate interests and cannot act for the people. The make-up of the committee and the tens of millions of […]

Corporations and Wall Street own the country

November 5, 2011

Americans have learned the hard way that when rich organizations and wealthy individuals shower Washington with millions in campaign contributions, they get what they want. We hold elections, knowing they are unlikely to produce the policies favored by the majority of Americans. We speak, we write, we advocate – and those in power turn deaf […]