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Laurence Fink, the 60-year-old CEO of Wall Street money manager BlackRock Inc., wants the retirement age raised to 70. In one TV interview, he explained that we could all wait a few more years before collecting Social Security because most of us have jobs where we just “sit around.” Now, everyone is entitled to their ...
Steve Kraske of The Kansas City Star recently interviewed me for a piece about austerity. The storyran in today’s paper. It doesn’t provide much depth (unlike bloggers, reporters have strict space constraints!), so I followed up with a few comments on the Star’s website. I thought I’d share them here, since I’m always trying to improve ...
Nostalgia for the 90s is apparent in the House Republicans’ latest effort to win over women voters, especially young mothers. Rep. Martha Roby, R-Ala., a mother of two, was tapped to introduce the misleadingly titled “Working Families Flexibility Act of 2013.” The bill is neither new in 2013 – the very same bill was first passed in ...
The shocking allegations against four more elected officials in New York are depressing — but they provide an opportunity for bold action by our state leaders. Gov. Cuomo has proposed a new, comprehensive campaign finance law, including the creation of a voluntary, small-donor public financing system and an independent enforcement unit. That’s the good news. But the ...
This is the third article in a series on some of the additional lessons we should learn from the mass murder of Bangladeshi garment workers by anti-employee control frauds. I discuss new allegations about the senior executives involved in producing the terrible loss of life and maiming of so many workers because they are relevant ...
The megabank lobby has finally put its best arguments on the table. After years of silly Twitter posts, weak research papers and other forms of unimpressive public relations, those opposed to further financial reform now have serious representation in the debate about what to do regarding too-big-to-fail banks. On April 30, the law firm Davis ...
European integration was a grand plan, perhaps driven by lofty motives. I don’t take a position on that since I’m not European. But as we have argued from the very beginning, the set-up of the EMU was fatally flawed. At the very least, they “put the cart before the horse”—adopting the euro before they achieved ...
The Fed’s policy of keeping interest rates near zero is another form of trickle-down economics. For evidence, look no further than Apple’s decision to borrow a whopping $17 billion and turn it over to its investors in the form of dividends and stock buy-backs. Apple is already sitting on $145 billion. But with interest rates so low, ...
The movement demanding that public interest institutions divest their holdings from fossil fuels is on a serious roll. At last count, there were active divestment campaigns on 305 campuses and in more than 100 US cities and states. The demand has spread to Canada, Australia, the Netherlands and Britain. And though officially launched just six ...
Why has Congress allowed the real value of the minimum wage to fall 30 percent since 1968? Why is one in every three black children in America growing up poor? Why is Washington obsessed with deficit reduction when six in every 10 Americans want their national leaders to focus on job creation? The answer to ...
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