Posted on 22 August 2014.
It isn’t complicated and it’s not rocket science. The thievery underway in the form of corporate tax inversions can be stopped if there was a will to do so. It’s a problem with three easy-to-describe pieces–and some pretty straightforward solutions. The issue is: does the White House, beyond an election-year messaging stunt, really want to stop the robbery of the American taxpayer?
Posted on 21 August 2014.
Well, this is just more of the same. Shareholders and customers pay the tab for greed and incompetence–and the Administration goes along. A new deal–but no one held responsible.
Posted on 20 August 2014.
It might look these events are completely unrelated but there is a tie between the extortion underway of Argentina courtesy of a hedge fund, on the one hand, versus the cluelessness at the Federal Reserve Board about what is actually happening to real people.
Posted on 19 August 2014.
I couldn’t help the “EXPOSED” start to the headline because, actually, this is no surprise. Citizens for Tax Justice has been making this case for a very long time (including here, just as one example). But, here’s another piece of evidence to try to undo that hard-wired, decades-long rhetorical nonsense about corporate taxes being too high in the U.S.
Posted on 18 August 2014.
There is a deal that prevents the NYC Opera from locking out its workers. Though hard to know right now what the deal is, there is still one mystery I’d still like to learn more details about.
Posted on 08 August 2014.
You can try to call these conditions whatever you want. But, bottom line, this is for slaves.
Posted on 07 August 2014.
I love that quote from Woody Guthrie (H/T to Citizens for Tax Justice for using it). Says it all, from the halls of the Chamber of Commerce to the corporate suites to the Congress. Today’s use of the fountain pen comes courtesy of another corporate scam to avoid taxes.
Posted on 06 August 2014.
Well, it gets a bit repetitive to write about this but it’s that or spacecrafts following comets(come to think of it, the comet stuff is much more fun). But, here we go again: bankers rip us off and all they need to do is sock it to the shareholders and customers and, presto, Eric Holder and his boss go home happy campers. The Treasury might get a little richer but nothing much will have changed.
Posted on 05 August 2014.
One response to this might be “better late than never”. Actually, the spin on this story neglects to actually talk about the role S&P actually played in the financial crisis. But, apparently, the geniuses at S&P have now figured out what any normal person would understand: when a few people get all the marbles, not much is left for the others.
Posted on 01 August 2014.
Corporate tax inversions are getting a lot of ink now (thanks largely to the heavy lifting done by the Levin brothers–Carl in the Senate, Sander in the House, and Citizens for Tax Justice…not, respectfully, by the celebrity of the moment). The president has even spoken out a bit, though we will see whether that’s just mid-term elections political rhetoric. But, a related move is now on the agenda and I love the name: No Federal Contracts for Corporate Deserters Act.
Posted on 31 July 2014.
…Or else maybe Nike’s off-shore shell game has changed. In any case, there’s something fishy in Bermuda.
Posted on 30 July 2014.
One person who is a bit of a hero, I think, in this whole post-financial-crisis-the-bankers-got-away-with-it scam is Jed Rakoff, who sits in the Federal District Court of Manhattan. A few years ago, I wrote that Rakoff understood that the government, our government, and, in particular, the Securities and Exchange Commission, is not serious about holding people accountable for the robbery and greed and incompetence that led to the financial collapse, costing millions of people their jobs and obliterating trillions of dollars in wealth. As Rakoff said, it’s all a show. But, at least, when he can, Rakoff is trying to make it hurt–and, now, to the tune of a $1.9 billion fine against Bank of America.
Posted on 30 July 2014.
Yipee, it’s up, the economy is “rebounding”, smile, celebrate…uh, well, not so fast.
Posted on 29 July 2014.
Under the heading of “this is not surprising”, I’d put this news: bank CEOs are playing a central role in moving companies overseas–or, actually, just reincorporating them to dodge taxes. And all for the usual reason: nice fat bank fees that help underwrite the pay packages of Jamie Dimon and his gang–the same gang that wrecked the economy, but still have their jobs.
Posted on 28 July 2014.
The tender landscape of art can often obscure labor nastiness, and stupidity, that rivals anything you’d find in the corporate world, with stupidity and greed part of the mix (take Arianna Huffington, grand narcissist, who is happy to leach off writers and make tens of millions along the way). Welcome to the New York Metropolitan Opera, folks, which, true to form, is trying to lay blame on its workers and threatening a lock-out, when mismanagement has been the order of the day.
Posted on 25 July 2014.
Sunday there will be yet another ceremony at the National Baseball Hall of Fame–and it will be, without anyone saying so, a ceremony that continues the despicable behavior towards the one man who did more to change baseball outside the lines than perhaps any single individual: Marvin Miller. Despicable because, simply because Marvin Miller built the players’ union into a serious union, the owners have refused to vote him into the Hall of Fame. It’s even more despicable because, after Miller died at age 95 in November 2012, you would think that people would have an ounce of decency, a bit of humanity, to tamp down the animosity enough to be big and do the right thing. But, they have not.