Working Life

   This should pass: An amendment sponsored by the independent senator from Vermont to require Federal Reserve audits is gaining momentum, powered by a coalition of activists on the left and right who are taking aim at the financial establishment for its role in the economic collapse. Mr. Sanders’s amendment, which is likely to be […]

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This past Saturday, we had a great march for immigration rights in New York City–on May 1st, thankfully, and sponsored by the labor movement to boot. Without a doubt, the Arizona racist legislation gave a boost to the turnout on a sun-drenched day. But, here is the point I have made in the past, and […]

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    Even investors are now starting to distance themselves from Goldman Sachs: After reports on Thursday evening that federal prosecutors had opened an investigation into trading at Goldman, raising the possibility of criminal charges against the Wall Street giant, the firm’s stock was downgraded on Friday by two analysts. Standard & Poor’s lowered its rating […]

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   And the next shoe to drop: Federal prosecutors are conducting a criminal investigation into whether Goldman Sachs Group Inc. or its employees committed securities fraud in connection with its mortgage trading, people familiar with the probe say. The investigation from the Manhattan U.S. Attorney’s Office, which is at a preliminary stage, stemmed from a […]

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   The Senate hearings made clear: Goldman Sachs—and other Wall Street firms—profited by gambling with the American peoples’ livelihoods. It was a classic “heads I win, tails you lose” scam. As Sen. Carl Levin memorably stated: “You knew it was a shitty deal, and that’s what your emails showed.”     But, what Levin and other […]

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    In the midst of the focus on the unethical behavior of Wall Street, let’s give a little stage time for Wal-Mart: In a closely watched case, a sharply divided federal appeals court on Monday ruled 6-5 that a sex discrimination lawsuit against Wal-Mart could proceed as a class action for more than a million […]

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   Over the weekend we learned this: In late 2007 as the mortgage crisis gained momentum and many banks were suffering losses, Goldman Sachs executives traded e-mail messages saying that they were making "some serious money" betting against the housing markets.   The e-mails, released Saturday morning by the Senate Permanent Subcommittee on Investigations, appear […]

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    I applaud the president for trying to impose some new and renewed standards to try to make sure that what happened on Wall Street doesn’t happen again. But, we are about to miss an opportunity–perhaps a missed opportunity that will haunt us for years to come–to change the debate about our economy and the […]

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   It’s rare that we get to read about a total victory for workers in a contract fight. But, you can’t read this any other way: The talks went right up to the midnight strike deadline, as they often have in the past, with the union resisting the owners’ demands for cuts in health care […]

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   We’ll know soon whether there will be a strike of the doormen and other services workers in NYC. Check the background and ways to support the union here.

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