Tag Archive | "Pensions"

The “Free Market” Takes Its Pound Of Flesh, But Never From The Failed CEO

I can’t let Detroit go partly because there is so much to learn from the robbery that took place in the past and is continuing to this day. Today, let’s consider for a moment the price regular workers pay when something goes bad versus the price CEOs never pay when something goes askew. It’s a telling story about the deep corruption of the system.

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Detroit to Wall Street: We Are All Jamie Dimon’s Children

I mean this in a couple of ways. If people in Detroit were all named “Jamie Dimon,” a bailout would be on its way, free and clear, low-interest, no questions asked, the same kind of bailout JP Morgan Chase’s Dimon and his gang of thieves on Wall Street were able to pocket after they cratered the economy. But, barring Dimon being an actual whore, not simply a financial one, the familial connection ain’t happening for the people of Detroit — not that they’d really want it. That said, there is a real argument to made: Wall Street should pay for Detroit’s fiscal situation. And I’d propose a surtax on profits called “The Jamie Dimon Surtax.”

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Detroit

Detroit. The filing for bankruptcy is a sad, but, in a way, predictable event — if one is willing to see what this really means. It’s a deep metaphor for the failure of the so-called “free market”.

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Bartlett’s Blindness

Ideology is a powerful factor in the way people see things — or don’t see things, either intentionally or because they just can’t. So, when Bruce Bartlett recently wrote about the risks of retiring without a decent pension, it was both comical and bizarre that he chose to ignore the main reason for the destruction of a comfortable retirement.

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Wall Street Gets To Fuck Workers Twice

So, Wall Street got to really fuck workers once — when the greedy bastards who cratered the economy with their foolish games, they put millions of people into the streets, people who lost their jobs because of the greed. While not a single high-ranking financial leader is in jail, the greedy bastards are coming back for a second time to fuck workers — this time trying to screw them out of pensions.

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Batter Up: Greed Is Good

I’ve always chuckled a bit at the annual baseball debate over the rich teams versus the “poor” teams. Face it: it’s not your family business anymore. It’s big business running these teams. And, lo and behold, the vise of greed is tightening around the national past time.

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Detroit’s Barbarians At The Gate Moment

Detroit is about to be savaged — not by the industrial woes that have plagued the city for too many years. Nope, now riding into the city with an axe is an “emergency manager.” And let’s be clear: workers are the target.

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Where Did That Gap Come From?

Every decade or so, we get a new “gap”. You remember the “missile gap”? Now, we have the “pension gap” — the difference between what sits in pensions funds and what is owed to retirees. But, who caused that gap?

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Austerity, The New York Times-Style

    Really. When I read The New York Times editorials about the economy, or the truly shallow reporting from most of the paper’s reporters, often I think: the people at The New York Times actually are dolts. They don’t understand economics–at all. But, more often, it’s worth considering–they actually believe what they write, even if […]

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Cuomo’s 2016 Path to the White House: Kill The Middle Class

If you are one who is already bored by the 2012 elections and the rhetorical, mind-numbing repetition, here’s a little taste of what you can expect all the way into the distant future of 2016. The poodle-for-the-rich governor of New York has determined that his path to the White House in 2016–and, despite the boring […]

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Little Fish, Big Fish: The Illusion of the Prosecution of Wall Street

Gupta. Rajaratnam. Blaring headlines are a potentially dangerous distraction from the truth: the bankers responsible for the economic catastrophe that wiped out millions of jobs and trillions of dollars in wealth are still free and clear, reaping tens of millions of dollars more and laughing all the way to next purchase of a yacht or […]

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When Bullying Democrats Prey On Workers, But Protect The Wealthy

   In one important respect, the poodle-for-the-rich governor of New York brings to mind another bullying, immoral politician, George W. Bush. Back when one of the most corrupt and dangerous Administrations in our nation’s history had sky-high approval ratings, thanks to igniting a gusher of misguided and illegal revenge and retribution in the wake of […]

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Financial Crisis Probe Widens? “This is where all the bodies are buried”

    I’ve maintained for a long time that the civil fines levied against Goldman Sachs ($550 million) and J.P. Morgan ($153 million) for their roles in the financial crisis scam amounted to peanuts–costs that will be ultimately passed on to consumers and shareholders. If a financial executive could aid and abet a massive fraud and […]

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NYTimes Pushes The Big Lie On Pensions

   Yesterday, I wrote about an appalling but typical example of how bi-partisan "debate" is really an argument taking place on one side, in this case King Cuomo’s immoral decision to attack workers’ pensions by regurgitating Republican talking points that the economic crisis we face is the fault of the middle-class, workers, unions, and a […]

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King Cuomo: When Democrats Ape Republicans, Trash Workers and Seniors

   It really is no surprise, unfortunately, that the country is spinning out of control, the middle-class is dying and we are trapped in some of the dumbest debates imaginable–chief among them the entirely phony argument over a non-existent debt and deficit "crisis". Not surprising because many of these debates have political leaders essentially taking […]

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Wisconsin Pesky Facts–Pension System: Sound, Well-Managed

   I don’t write this to convince the people who are intentionally lying or have some ideological end-game here (as in, destroy unions and the middle class). I write this for those people who are still living on the planet Earth of reality. So, here it is: Wisconsin has a great, financially-sound public pension system. […]

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