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.
Robert Reich: The rise of “independent contractors” Is the most significant legal trend in the American workforce – contributing directly to low pay, irregular hours, and job insecurity.
Robert Reich: How would you like to live in an economy where robots do everything that can be predictably programmed in advance, and almost all profits go to the robots’ owners?
Robert Reich: Today’s workers are less economically secure than workers have been since World War II. Nearly one out of every five is in a part-time job.