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CIT: R.I.P.?
When CIT Group realized it was in really big trouble, the commercial finance company apparently thought it could count on Uncle Sam to come to the rescue. About a week ago, it leaked the news that it...
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Pecora Weeps
After J.P. Morgan was questioned by Congressional investigator Ferdinand Pecora during a 1930s investigation of the causes of the Great Crash, the legendary financier complained that Pecora (photo) had...
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The (Investment) House Always Wins
Goldman Sachs, which has long prided itself on being one of the smartest operators on Wall Street, has apparently decided that the best way to defend itself against federal fraud charges is to plead...
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Removing the Burden of Student Loans
Undeterred by its eviction from public parks in numerous cities, the Occupy movement is looking to other venues, among them college campuses. Occupying universities is not just a matter of finding new...
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JPMorgan Chase in the Sewer
The business news has been full of speculation on whether JPMorgan Chase Jamie Dimon will go on serving as both CEO and chairman of the big bank, in light of a shareholder campaign to strip him of the...
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Payday Predators Become the Prey
Every industry has its faults, but there are only a few for which it can be said that society would be better off if they did not exist at all. One member of that special group is payday lending, the...
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Preying on the Military
Reincorporating in foreign countries with lower tax rates is not the only way large corporations put profit before patriotism. A front-page story in the New York Times points out that predatory lenders...
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Trump’s Other Ban
Trump’s travel ban and his rightwing Supreme Court pick are troubling in themselves, but they are also serving to deflect attention away from the plot by the administration and its Republican allies to...
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Portraying Corporate Villains as Victims
The world according to Trump is one of grievances and victimhood. During the presidential campaign he got a lot of mileage by appearing to empathize with the travails of the white working class and...
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Trump’s Muddled Class Warfare
Among the various roles played by Donald Trump during his State of the Union address was that of class warrior. He described a divide between “wealthy politicians and donors” living in gated...
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