Robert Reich: People who believe Hillary Clinton is still too close to Wall Street will not be reassured by her position on Glass-Steagall. Many will recall that her husband led the way to repealing Glass Steagall in 1999 at the request of the big Wall Street banks.
Robert Reich: If we continue in the direction we’re headed we’ll soon have a health insurance system dominated by two or three mammoth for-profit corporations capable of squeezing employees and consumers for all they’re worth.
Robert Reich: President Obama should ban all political activities by corporations getting more than half their revenues from the federal government. That includes Lockheed and every other big defense contractor.
View image | gettyimages.com hat exactly does it mean for a big Wall Street bank to plead guilty to a serious crime? Right now, practically nothing. But it will if California’s Santa Cruz County has any say. First, some background. Five giant banks – including Wall Street behemoths JPMorgan Chase and Citicorp – recently pleaded […]
View image | gettyimages.com ashington has been rocked by the scandal of J. Dennis Hastert, the longest-serving Republican speaker in the history of the U.S. House, indicted on charges of violating banking laws by paying $1.7 million (as part of a $3.5 million agreement) to conceal prior misconduct, which turns out to have been child […]
Robert Reich: We’re now in a new gilded age of wealth and power similar to the first gilded age when the nation’s antitrust laws were enacted. But unlike then, today’s biggest corporations have enough political clout to neuter antitrust.
Robert Reich: Nike may be the perfect example of life under TPP, but that is not a future many Americans would choose.
Robert Reich: If Hillary Clinton is to get the mandate she needs for America to get back on track, she will have to be clear with the American people about what is happening and why – and what must be done.
Robert Reich: The new work requirements haven’t reduced the number or percentage of Americans in poverty. They’ve just moved poor people from being unemployed and impoverished to being employed and impoverished.
Robert Reich: The biggest absurdity is that a four-year college degree has become the only gateway into the American middle class.
Robert Reich: Most of us will have less and less money to buy the dazzling array of products and services spawned by blockbuster technologies – because those same technologies will be supplanting our jobs and driving down our pay. We need a new economic model. ‘
Robert Reich: Most big American corporations have no particular allegiance to America. They don’t want Americans to have better wages. Their only allegiance and responsibility to their shareholders — which often requires lower wages to fuel larger profits and higher share prices.
Robert Reich: The candidate could also call for busting up Wall Street’s biggest banks and thereafter limiting their size; imposing jail sentences on top executives who break the law; cracking down on insider trading; and, for good measure, enacting a small tax on all financial transactions in order to reduce speculation.