A Billion-Dollar Bank Scam

A billion here, a billion there…all of a sudden…yeah, you’re talking real money. And one assumes that’s what the accountants at banks figure when they smile about the latest scam to pad the bottom line for banks. It’s called “dividend arbitrage”–and that “arbitrage” already gives a hint.

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Secret GOP Documents Show MASSIVE CORPORATE SUPPORT

I’m not really shocked by this. But, still worth spreading the word.

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Amazon’s Global War Against Its Workers

That Amazon is a very ugly company to work for is no secret. And it’s doing so not just in the U.S. but all over the world. Germany is the latest battleground.

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We Need More Ministers Like This Guy

Today, I’ve been attending this conference, “Employment and Decent Work for Inclusive and Sustainable Development”. A little nugget and perhaps an obvious revelation came midway through the conference.

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Hedge Fund Rejection–Part II

A week ago, I wrote about CALPERS’ decision to basically get out of hedge funds. Yesterday, Gretchen Morgenson asked whether the love affair with hedge funds is over?

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Cycling And Questions To Ask

I’ve been waiting for a reason to write about this. Unfortunately, the collision in Central Park between a cyclist and pedestrian gives me a chance to do so.

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Cambodian Slaves Oil This Billionaire’s Fortune

Recently, I mentioned Seymour Hersh’s observation that, while most people count sheep to fall asleep, Henry Kissinger, who orchestrated the massive secret, illegal bombings of Cambodia, must count burned and maimed Cambodian babies. Which makes me wonder: has Amancio Ortega picked up a version of the Kissinger habit, counting overworked Cambodian slaves who have made him the fourth richest person in the world?

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Not Easy To Live In Manhattan If You Aren’t Rich

If you ever read the real estate section of The New York Times, there’s a section on page 2 called “Big Ticket”…it’s the place where you can read about the most expensive sale of the week, and that usually means something around $30-$40 million. Well, then, no wonder the gap between rich and poor in Manhattan is tops in the country.

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S&P: Inequality Hurts State Taxes. Yet Another “Duh”

When do we get to the point when the obvious–DUH–doesn’t come as some surprise or revelation to the elites? Probably never when it comes to inequality because they can’t see because they don’t live it. Last week, I wrote about a “Duh”–the G20 being told that higher wages will lift the global economy. Today, it’s the dopes over at Standard & Poor’s who wake up from a slumber–or self-imposed denial.

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Nation’s LARGEST Pension Fund Sends A Shiver Through Hedge Funds

I’m all for change happening through action in the streets. But, it doesn’t hurt to send a little tremor into the world of the elites in other ways. And that’s exactly what the California Public Employees’ Retirement System (CALPERS) has just done.

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Hey, Corporations: Since You Are A “Person”, Before You Flee The US, Pay Your Taxes–Like People

Ok, so, most sane people don’t buy into the idiotic idea that corporations should have the same standing as people. But, right now, thanks to a majority of morons on the Supreme Court, that’s the law. So, fine, then, while we try to close the loopholes on tax inversions, let’s apply a similar standard: the […]

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Apple Ready To Ring Up More Tax Dodging Profits

Just keep in mind this point: every time your favorite consumer company, the one with that very friendly logo, rolls out a new product, its internal corporate machine is getting ready to dodge taxes.

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On Wages, The Economist Agrees

The other day I wrote about a campaign by the International Trade Union Confederation to push the G20 to make hiking wages the cornerstone of any policy to create a sustained and healthy global economy. The Economist agrees.

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Burger King’s Whopper Strategy: Your Waistline Expands, The Company’s Tax Bill Shrinks

A couple of weeks ago, I wrote about Burger King’s tax inversion strategy–you know, the clever tax dodge strategy that’s all the rage among the corporate elite because it funnels hundreds of billions of dollars overseas and outside the reach of the IRS. Well, that apparently isn’t the half of it. Burger King has a two-pronged approach to screwing the country–at the waistline and at the bottom line.

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A Shocker: G20 Being Told HIGHER WAGES Will Lift Global Economy. Duh.

It never ceases to amaze me how, either because they are intentionally trying to mislead people or because they are just dumb/incompetent, “analysts” or public commentators and/or politicians profess to be flummoxed by the weak economy, the stop-and-go nature of growth and economic activity. Well, this isn’t rocket science: when you have an economy powered mostly by consumer spending and people don’t have money to spend, shit won’t get bought…is this not obvious? And that’s the message–the correct one–being delivered this week to the G20.

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Slipping Away…No Surprise

Certain things I get no pleasure being right about. Like the lack of jobs. But, hey, I said back in July no one should be celebrating short-term hype on the economy. Sure enough…

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