Romney picks Ryan for running mate
At a campaign rally in Virginia this morning Republican presidential nominee Mitt Romney announced he is choosing Rep. Paul Ryan (R-WI) to be his Vice Presidential choice. This choice proves…
Justice Department, SEC give up investigation into Goldman Sachs
The Department of Justice announced it will not bring civil or criminal charges against investment bank Goldman Sachs, despite its probable violations of various banking and securities laws that precipitated…
Romney’s recent attacks mimic Republican lies on “welfare queens”
Republican presidential nominee Mitt Romney attacked President Obama on the campaign trail, claiming that an executive order issued this week through the Department of Health and Human Services significantly weakens…
July jobs report confirms weak pace of jobless economic “recovery”
The Labor Department released July’s employment figures today and once again there is little good news. According to the report the economy added 163,000 jobs last month even though the…
Romney proposes tax increase on middle class despite election rhetoric
A recent Tax Policy Center analysis shows that the the kind of revenue-neutral tax reform Romney is advocating is nothing but a wolf in sheep’s clothing. The rhetoric sounds good…
Fed warnings on economic recovery accentuate stark political choices
In the minutes from its June meeting several Fed policymakers warned that the economy could worsen due to a number of factors, including Congressional failure to avert tax hikes and…
Barclays scandal spreads to US banks, regulators, and politicians
As big banks face the fallout from a global investigation into interest rate manipulation, American and British lawmakers are scrutinizing regulators who failed to take action that might have prevented…
SCOTUS upholds ACA, including individual mandate for the uninsured
In a surprising ruling the Supreme Court today announced that the Americans With Care Act (ACA) is, in fact, constitutional according to the broad tax authority granted Congress by the…
Stockton, CA files for bankruptcy
The city of Stockton will file for Chapter 9 bankruptcy protection after it failed to find acceptable terms for restructuring its ballooning debt. In a 6-1 vote the city council…
Moody’s downgrades world’s banks
In 2011, a Congressional Report was released exposing those financial institutions responsible for the recession. The finger was pointed squarely at large investment banks as well as credit rating agencies…