Monthly Archives: June 2012

Aftermath of Wisconsin: Tony Mazzocchi was right to back a Labor Party

Walker’s challenger, Tom Barrett (D), surrendered the narrative early on to Walker when he stated he was not labor’s candidate. Ditto on austerity. Even though Wisconsin’s corporations are taxed at a rate below the national average, Barrett never challenged Walker’s rationale that the state is “out of money”. As a result, Democratic voters were experiencing

Is Andrew Cuomo throwing labor under the bus for the Belmont Stakes?

“This year’s Belmont Stakes has the potential to be a truly remarkable event, attracting worldwide attention and millions of dollars of economic activity,” he said in a statement. “It is simply unacceptable that a two-year-long labor dispute would imperil this special event.” via New York Governor urges end to labor dispute ahead of Belmont Stakes

Diamond Jubilee #Fail

A group of long-term unemployed jobseekers were bussed into London to work as unpaid stewards during the diamond jubilee celebrations and told to sleep under London Bridge before working on the river pageant. via Unemployed bussed in to steward river pageant | UK news | The Guardian. This story is quite dickensian and could actually be

Corzine might face civil suit for MF Global debacle

In a blistering 275-page report, James Giddens, the trustee liquidating the company’s broker-dealer unit, said he might bring civil claims against former Chief Executive Corzine and other top MF Global executives for negligence and breach of duties to customers. via MF Global trustee: Corzine mismanaged firm’s growth Why don’t more parties bring civil suits against

Federal Aid is Corporate Welfare for Colleges

Recent economic research suggests that colleges siphon off a significant portion of federal education aid rather than lowering costs to students. Simply put, much of federal student aid is corporate welfare for colleges. via Business – Andrew G. Biggs – The Truth About College Aid: It’s Corporate Welfare – The Atlantic. This is a really

Senator Scott Brown – Pro Great Depression

The Globe is reporting that they have uncovered e-mails from Scott Brown and his campaign after the passing of Wall Street reform (Dodd-Frank) to further weaken the legislation. It seems that Brown was not satisfied in his role in watering down the legislation, Brown pushed for a loose interpretation of the law, allowing banks to

Don’t buy individual stocks!

Instead, take your money and put it in a no load mutual fund that replicates the broad indexes, like the S&P 500, the Russell 2000 or something like that. Over the long haul, you won’t lose. You also won’t pay many fees. Investing is practically free. via What Average Investors Should Do In Market Panics

JPMorgan is feckless. They ignored warnings

JPMorgan officials dismissed the warning from the CtW Investment Group, the advocates, who also cautioned bank officials that the company had fallen behind the risk-management practices of its peers. Now, after disclosing a $2 billion trading loss at JPMorgan in May and watching the bank’s market value drop by more than $25 billion, those officials