NewsTrust - Money - Most Recent Stories

The 4 Big Ways That Insatiable Corporate Hunger for Profits Has Devastated American Life -- and the World Along with It

Sun, 19 May 2013 00:00:00 -0700

AlterNet - By Paul Buchheit - May. 19 (Special Report) - In this dream world of global capitalism, young people are going from zero income on the farm to a few dollars a day on a 12-hour factory shift, and as a result, based on the World Bank's poverty threshold of $1.25 per day, they're no longer "in poverty." So the media piles on praise for free markets. The Economist proclaimed that "poverty is declining everywhere." The Washington Post gushed that "a billion people have been lifted from poverty through free-market competition."

NewsTrust Rating: 4.4 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

The Cancer-Stage Of Capitalism

Mon, 06 May 2013 00:00:00 -0700

talkradionews.com - By Thom Hartmann - May. 06 (Opinion) - Unregulated capitalism is cancer on our nation. Like tumors, greed has metastasized, strangling once-healthy parts of our economy, and our social safety net. A new piece on Alternet lists several ways this cancer capitalism has taken hold. For starters, the hoarding of wealth by the banksters and the 1% has diverted resources away from nutritional aid programs. Twenty people in our country collected a whopping $73 billion in investment income – all taxed at a lower rate than working Americans. Compare that with the fact that President Obama couldn’t even get $1 billion to improve childhood nutrition in our schools.

NewsTrust Rating: 4.0 average - 3 Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

How Two Secretive Global Trade Deals Will Further Enrich the American Elite

Thu, 02 May 2013 00:00:00 -0700

AlterNet - By Dean Baker - May. 02 (News Analysis) - the Obama administration is pursuing two major "free trade" agreements that in fact have very little to do with free trade and are likely to hurt those without the money and power to be part of the game. The deals in questions, the Trans-Pacific Partnership ( TPP) and the US-European Union "Free Trade" Agreement are both being pushed as major openings to trade that will increase growth and create jobs. In fact, eliminating trade restrictions is a relatively small part of both agreements

NewsTrust Rating: 4.8 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

2 More Grad Students Claim To Find Another Flaw In Reinhart-Rogoff Research

Tue, 30 Apr 2013 00:00:00 -0700

Huffington Post - By Mark Gongloff - Apr. 30 (News Report) - Like Scooby-Doo villains, Carmen Reinhart and Kenneth Rogoff keep getting done in by meddling kids. First, University of Massachusetts-Amherst grad student Thomas Herndon shot holes in their influential research paper, "Growth In A Time Of Debt," by pointing out several mistakes and omissions the Harvard economists had made. Now, two PhD students at the University of Missouri-Kansas City have a new paper that they say finds another flaw in that same research.

NewsTrust Rating: 4.2 average - 3 Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Washington's Backward Retirement Policy: So Wrong, and Yet So Easy to Fix

Tue, 30 Apr 2013 00:00:00 -0700

Atlantic Monthly - By - James Kwak - Apr. 30 (Opinion) - money is being wasted on tax subsidies for "private" retirement accounts such as 401(k)s and IRAs. In 2012, these subsidies added up to $199 billion, or about 1.3 percent of GDP.

NewsTrust Rating: 4.1 average - 3 Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Billionaires Flee Havens as Trillions Pursued Offshore

Mon, 29 Apr 2013 00:00:00 -0700

Bloomberg - By David de Jong, Robert LaFranco - Apr. 29 (News Analysis) - The lawsuits provide a window into the offshore structures and secrecy jurisdictions the world’s richest people use to manage, preserve and conceal their assets. According to Tax Justice Network, a U.K.-based organization that campaigns for transparency in the financial system, wealthy individuals were hiding as much as $32 trillion offshore at the end of 2010. Fewer than 100,000 people own $9.8 trillion of offshore assets, according to research compiled by former McKinsey & Co. economist James Henry.

NewsTrust Rating: 3.9 average - 4 Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

South Korea proposes Kaesong talks with North

Thu, 25 Apr 2013 00:00:00 -0700

BBC News - Apr. 25 (News Report) - Unification Ministry spokesman Kim Hyung-suk warned of "grave measures" if the North did not agree to the talks. Pyongyang blocked South Korean access to the site and pulled out its 53,000 workers earlier this month.

NewsTrust Rating: 3.0 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

America Is Ruled by Billionaires, and They Are Coming After the Last Shreds of Our Democracy

Sat, 06 Apr 2013 00:00:00 -0700

AlterNet - By Michael Brenner - Apr. 06 (Special Report) - The United States today qualifies as a plutocracy – on a number of grounds. Let’s look at some striking bits of evidence. Gross income redistribution upwards in the hierarchy has been a feature of American society for the past decades. The familiar statistics tell us that nearly 80% of the national wealth generated since 1973 has gone to the upper 2%, 65% to the upper 1 per cent. Estimates as to the rise in real income for salaried workers over the past 40 years range from 20% to 28 %. In that period, real GDP has risen by 110% – it has more than doubled.

NewsTrust Rating: 4.4 average - 5 Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

CEOs explain how H-1B visa hurts U.S. competitiveness

Fri, 15 Mar 2013 00:00:00 -0700

epi.org - By Daniel Costa - Mar. 15 (News Report) - on March 14 a briefing was held on Capitol Hill to inform Senate staffers about the H-1B program’s impacts on the labor market and job opportunities for U.S. workers in STEM fields. The briefing offered facts and perspectives about the H-1B that are usually ignored or overlooked by the media; including from CEOs who use the program.

NewsTrust Rating: 4.3 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Steve Cohen's Hedge Fund To Pay Over $600M To Settle Insider Trading Charges

Fri, 15 Mar 2013 00:00:00 -0700

Forbes - By Agustino Fontevecchia - Mar. 15 (News) - The Securities and Exchange Commission (SEC) announced it reached a settlement on insider trading charges with billionaire Steve Cohen's SAC Capital affiliate CR Intrinsic for just over $600 million.

NewsTrust Rating: 4.0 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Kabubble

Fri, 11 Jan 2013 00:00:00 -0800

Harper's - By Matthieu Aikins - Jan. 11 (Special Report) - “I’m absolutely staggered how things have changed,” he said, gesturing at the half-built homes around us. “Almost every compound is having, or has had, construction done.”

NewsTrust Rating: 3.6 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

The Trillion Dollar Coin Solution, Or One Coin To Rule Them All: An Idiot's Guide

Mon, 07 Jan 2013 00:00:00 -0800

Huffington Post - By Mark Gongloff - Jan. 07 (News Analysis) - If you've watched business TV or read Paul Krugman lately, you may have stumbled across a strange and maybe frightening debate among policy wonks and pundits about something called a trillion-dollar coin. What is this coin, and why should you care about

NewsTrust Rating: Not rated yet - See Info » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Worshipping Materialism at Christmas

Tue, 04 Dec 2012 00:00:00 -0800

Consortium News - By Lawrence S. Wittner - Dec. 04 (Opinion) - The prevailing view on Fox News is that everyone in America, regardless of his or her religious beliefs, must join in the lavish and lengthy celebration of the birth of Jesus – or be accused of warring on Christmas. But the real assault on Jesus’s teaching comes from gross materialism

NewsTrust Rating: Not rated yet - See Info » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Doubts About Independent Foreclosure Review Spread

Fri, 19 Oct 2012 00:00:00 -0700

ProPublica - By Paul Kiel - Oct. 19 (Investigative Report) - The idea behind the Independent Foreclosure Review seems simple. During the peak of the foreclosure crisis, the banks broke laws and made errors that hurt homeowners. In response, the government mandated they compensate the victims. But there is growing evidence some banks are playing a major role in identifying the victims of their own abuses, raising the question of whether the review is compromised by conflicts of interest.

NewsTrust Rating: 4.0 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Kristof: Why let the rich hoard the toys?

Sat, 06 Oct 2012 00:00:00 -0700

news-journal.com - By Nicholas Kristof - Oct. 06 (Opinion) - Imagine a kindergarten with 100 students, lavishly supplied with books, crayons and toys. Yet you gasp: One avaricious little boy is jealously guarding a mountain of toys for himself. A handful of other children are quietly playing with a few toys each, while 90 of the children are looking on forlornly — empty-handed. The one greedy boy has hoarded more toys than all those 90 children put together!

NewsTrust Rating: 4.4 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Hedge Fund Hype, Wall Street Horoscopes, and Drop-Top Jets: The Magical Minds of the “Radical Rich”

Thu, 27 Sep 2012 00:00:00 -0700

nationofchange.org - By Richard (RJ) Eskow - Sep. 27 (News Analysis) - This isn't an episode of the X-Files. These seemingly unrelated stories are part of a larger pattern. What appears to be a sudden epidemic of magical thinking actually reflects something else: the rise of a financial sector whose economic incentives have tilted away from core business competencies - and toward something like that looks a little more like madness.

NewsTrust Rating: 3.7 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Romney Is a Corporation Masquerading As an Individual for President

Fri, 21 Sep 2012 00:00:00 -0700

readersupportednews.org - By Ralph Nader - Sep. 21 (Opinion) - Mr. Romney doesn't understand the double standard where government checks, whether already paid for or not, to people are called "entitlements"while far bigger checks to corporations are called "incentives."

NewsTrust Rating: 4.2 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Half of American Households Hold 1 Percent of Wealth

Thu, 19 Jul 2012 00:00:00 -0700

Huffington Post - By Dan Froomkin - Jul. 19 (Opinion) - WASHINGTON -- The share of the nation's wealth held by the less affluent half of American households dropped precipitously after the financial crisis, to 1.1 percent, according to new calculations by Congress's nonpartisan research service . By contrast,

NewsTrust Rating: 3.6 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

New study: Tort reform has not reduced health care costs in Texas

Thu, 21 Jun 2012 00:00:00 -0700

Austin American-Statesman - By Mary Ann Roser - Jun. 21 (News) - A new study found no evidence that health care costs in Texas dipped after a 2003 constitutional amendment limited payouts in medical malpractice lawsuits, despite claims made to voters by some backers of tort reform.

NewsTrust Rating: 4.1 average - 4 Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

University Coup Led By Political Donors Lacking Academic Experience

Thu, 21 Jun 2012 00:00:00 -0700

Huffington Post - By Zach Carter, Jason Linkins - Jun. 21 (News Report) - The leadership coup at the University of Virginia was conducted by a governing board with profound financial means and limited professional educational experience....

NewsTrust Rating: Not rated yet - See Info » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Madness of Late-Stage Capitalism

Mon, 11 Jun 2012 00:00:00 -0700

Consortium News - By Phil Rockstroh - Jun. 11 (Opinion) - Late-stage capitalism has similarities to an aging billionaire terrified of microscopic germs – imagine Howard Hughes at the end of his days – trying to extend life by frenetically worrying about invisible dangers, writes Phil Rockstroh in this reflection on his father’s death.

NewsTrust Rating: 4.2 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Psychology Of Fraud: Why Good People Do Bad Things

Sat, 02 Jun 2012 00:00:00 -0700

NPR - By CHANA JOFFE-WALT, ALIX SPIEGEL, Adam Cole, Maria Godoy, Anne Gudenkauf - Jun. 02 (Special Report) - Enron, Worldcom, Bernie Madoff, the subprime mortgage crisis. Over the past decade or so, news stories about unethical behavior have been a regular feature on TV, a long, discouraging parade of misdeeds marching across our screens. And in the face of these scandals, psychologists and economists have been slowly reworking how they think about the cause of unethical behavior. In general, when we think about bad behavior, we think about it being tied to character: Bad people do bad things. But that model, researchers say, is profoundly inadequate. Which brings us to the story of Toby Groves.

NewsTrust Rating: 4.0 average - 3 Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Bain Capital and our screwed-up culture

Sat, 26 May 2012 00:00:00 -0700

Seattle Times - By Fromma Harrop - May. 26 (Opinion) - The problem is not the profession. It's what one does in the course of business. But even among those intent on making it big, people with a conscience will not cross certain lines. Bain blew across them.

NewsTrust Rating: 4.4 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Why Atheists Have Become a Kick-Ass Movement You Want on Your Side

Sat, 12 May 2012 00:00:00 -0700

AlterNet - By Greta Christina - May. 12 (Special Report) - Atheists are becoming a force to be reckoned with. They are a powerful ally when inspired to take action -- and a powerful opponent when they're treated like dirt.

NewsTrust Rating: 4.3 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Vashon banks on new credit union

Tue, 08 May 2012 00:00:00 -0700

Seattle Times - By Kim Murphy - May. 08 (News Report) - "In the years after World War II, most of our financial institutions were local. So they took in local savings and then used them to support local investment — in businesses, in homeownership," said David Korten, author of "When Corporations Rule the World," who lives on Bainbridge Island. Over the years, control of the money shifted from the community to Wall Street, Korten said. "What the folks on Vashon are doing is beginning to reverse that process."

NewsTrust Rating: 3.9 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer