Working Life

    Apparently, Timothy Geithner threw a fit. Fascinating. Mainly because it says a lot about the power struggle underway for control over the economic system. Here is a snippet from The Wall Street Journal article: Friday’s roughly hourlong meeting was described as unusual, not only because of Mr. Geithner’s repeated use of obscenities, but because […]

Read the full story

   In today’s installment of The Audacity of Greed, we bring you the story of Andrew Hall: In a few weeks, the Treasury Department’s czar of executive pay will have to answer this $100 million question: Should Andrew J. Hall get his bonus? Mr. Hall, the 58-year-old head of Phibro, a small commodities trading firm […]

Read the full story

   I remain astonished–perhaps I shouldn’t be–about the extent to which the people who destroyed the financial system still have jobs. It is truly a comment on the emptiness of the rhetoric of the "free market" ideologues and the business world, who demand accountability, efficiency and profitability–except when it comes to their own actions. After […]

Read the full story

   Yesterday, I asked the question about whether members of the House progressive caucus might vote "no" on a health care bill that emerges from the insurance industry-driven rollback on the promise of a public option. That is becoming more real today after concessions to the "Blue Dogs" in the House further weakened the public […]

Read the full story

   I’ll be in route this morning and here and there so just a quick post. If the health care bill comes out without a pubic option, will progressive members of Congress vote "no"? Interesting question: In the House, liberal lawmakers have adopted a strategy of countering almost every statement against a public option with […]

Read the full story

   It is an article of faith that American consumers are way over leveraged, particularly when it comes to credit card debt. But, a pretty scary article in the Financial Times the other day makes it clear that this is a worldwide phenomena that is likely to prolong the economic crisis we are in. I […]

Read the full story

   I remember quite clearly a very honest discussion I had with a Member of Congress at an event about six months before the 2008 mid-term elections. I’ve known this person for a few years and I remarked that it looked like the Democratic Party was poised to make significant gains in the House in […]

Read the full story

Today, the minimum wage rises to $7.25 an hour. We should all be glad that millions of people are going to get a bit more money in their pockets. But, this hike masks a very grim fact: the “recovery” is not going to happen anytime soon, if the measure we use for “recovery” is that […]

Read the full story

   On some things, I would rather be proven wrong. I would rather be told, "you see, these trade deals did their job when they passed and promised  to protect labor rights in other countries where union organizers and leaders have been regularly killed and threatened…life has so improved for labor". Then, I would admit […]

Read the full story

I fear for our country. Medicare has been one of the most successful programs in the history of our country. But, there is apparently a push to "curb the cost" (read: cut) Medicare, even though there is plenty of money to keep it robust–if our political leaders stop trying to appease the wrong people.   […]

Read the full story