Consumers lack financial literacy, contributed to Great Recession
From the LA Times: Guess how many Americans correctly answered this basic financial question: Is the stock of a single company usually safer than a mutual fund? A) 100% B)…
Tech start-up publishes employee salaries, encourages transparency
San Francisco tech start-up Buffer has been making waves with its transparency campaign, jump starting a national conversation about salaries and, by implication, the way businesses conduct their business in…
Five regulatory agencies approve Volcker Rule, curbing risky banking
Five federal regulatory agencies approved the so-called “Volcker Rule” today, restricting commercial banks from trading stocks and derivatives for their own gain and limits their ability to invest in hedge…
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What Obama Left Out of His “Inequality Speech”: Regulation
By THOMAS O. MCGARITY, From the “Great Divide” Blog, New York Times Onine AUSTIN, Tex. — President Obama’s speech on inequality last Wednesday was important in several respects. He identified…
Economic inequality is a problem, as is gap between ideal and reality
Check out this informative video that provides a graphic representation of wealth inequality in the U.S. and the gap in perception between what people think an ideal distribution of wealth…
Federal shutdown costs U.S. billions and erodes investor confidence
From the New York Times: The government shutdown that ended this week will cost the United States economy several billion dollars, according to estimates by economic research firms. But the…
Shutdown: Complacency on Wall Street Could Be Worse Than a Panic
From the New York Times “DealBook” Blog by Jason Eissenger: Don’t look to a market panic to save us. We are in upside-down world, where a freak-out now would help…
House GOP shuts down government, harming workers and economy alike
The federal government remains in partial shut down today after the House GOP, spurred on by a fringe element of Tea Party extremists, refused to pass legislation authorizing a budget…
Job Situation Looks a Little Worse
From the New York Times Economix Blog by Floyd Russell: Every year at this time, the Labor Department tells us how badly it blew the previous year’s job figures. In…
With Summers out, Yellen is now favored to lead the Federal Reserve
In the last month, a groundswell of opposition from economists and the public alike has led to positive development. After a major announcement last week by 3 key Democratic Senators…