RECENT NEWS

Neil Barofsky on TARP, SIGTAP, IGS, Elizabeth Warren and Too Big to Fail

Corporate Crime Reporter, June 13, 2011 We spent $700 billion to bail out the too big to fail banks on Wall Street. And yet, we might have to do it again. Why? Because the big banks are still too big to fail. And next time, we might have to spend $5 trillion. It ain’t a pretty picture. As Neil Barofsky knows better than most. He was the Special Inspector General for the Troubled Asset Relief Program. Known in Washington as SIGTARP. He’s now ... Read more

The Incredible Shrinking Workers’ Share of Income

By Abby Zimet Common Dreams, June 13, 2011 Business isn’t investing in workers, and it shows. Stunning charts from David Frum show the lowest recorded worker share of U.S. income ever. Odd, though. Charts of corporate profits look different. Source: Common Dreams, http://www.commondreams.org/further/2011/06/13-2 Read more

Report: Public Banking Can Democratize the Economy

By Kelly McCartney Shareable Work and Enterprise, May 31, 2011 In the wake of the financial crisis that the U.S. is still clawing its way out of, a handful of ideas have begun to surface that might actually shore up our still-floundering economy and, potentially, avert future devastation. (No, not the eminently gutless Dodd-Frank bill.) Rather, public banks — also known as state banks or partnership banks — provide a path for the people to ... Read more

The Argumet Against New Nuclear Plants in the U.S.

EDITORIAL: No nuclear plants in the 20th Congressional District Glens Falls Post-Star, June 30, 2011 Archaeologists estimate that prehistoric man began learning to control fire about 790,000 years ago. The U.S. National Academy of Sciences estimates it will take 3 million years for the radioactive waste currently stored in the United States to decay to background levels. The United States currently produces about 3,000 tons of nuclear waste ... Read more

Evacuation Zones for Nuclear Reactors

Physicians for Social Responsibility June 2011 In the case of a nuclear reactor accident, what can be done? Do you live within 50 miles of a nuclear reactor? One third of Americans do. Property contaminated by nuclear materials is not covered by insurance, so if your house is affected, you could be displaced permanently and lose everything. Use the tool below to find out if you are within an evacuation zone and are at risk. Also notice the ... Read more

A 35% Spike in Infant Mortality in Northwest Cities Since Meltdown: Is the Dramatic Increase in Baby Deaths in the US a Result of Fukushima Fallout?

By Janette D. Sherman, MD and Joseph Mangano Counterpunch, June10-12, 2011 U.S. babies are dying at an increased rate. While the United States spends billions on medical care, as of 2006, the US ranked 28th in the world in infant mortality, more than twice that of the lowest ranked countries. (DHHS, CDC, National Center for Health Statistics. Health United States 2010, Table 20, p. 131, February 2011.) The recent CDC Morbidity and Mortality ... Read more

China Wants To Construct A 50 Square Mile Self-Sustaining City South Of Boise, Idaho

The American Dream June 2011 Thanks to the trillions of dollars that the Chinese have made flooding our shores with cheap products, China is now in a position of tremendous economic power. So what is China going to do with all of that money? One thing that they have decided to do is to buy up pieces of the United States and set up “special economic zones” inside our country from which they can continue to extend their economic ... Read more

Austan Goolsbee: It’s Now Up to the Private Sector

Economists View June 05, 2011 Scarecrow is unhappy. As you read this, remember that the administration has been seeing green shoots just around the corner for some time now, and using this to argue against taking action on the unemployment problem: Scarecrow’s Nightmare: Austan Goolsbee Defends President Romney’s Economic Plan, by Scarecrow: If I’d been asleep for the last decade and woke up to ABC This Week’s interview of Presidential ... Read more

White House Economic Adviser Austan Goolsbee Defends Clever Strategy of Putting Cart Before The Horse

By Susie Madrak Crooks and Lians, June 5, 2011 Tracking the U.S. economy these days is like watching the Titanic go down, except the crew members are running around the deck, waving their arms and saying, “Everything’s fine, don’t panic! Everybody back to the all-you-can-eat buffet!” On This Week with Christiane Amanpour, White House economic adviser Austan Goolsbee insists this is not a jobless recovery and ... Read more

China warns U.S. debt-default idea is “playing with fire”

By Emily Kaiser Reuters, June 8, 2011 (Reuters) – Republican lawmakers are “playing with fire” by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China’s central bank said on Wednesday. The idea of a technical default — essentially delaying interest payments for a few days — has gained backing from a growing number of mainstream Republicans who see ... Read more