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Showing blog posts tagged with financial crisis

9 Terrifying Stories of Injustice from Matt Taibbi's New Book, 'The Divide'

9 Terrifying Stories of Injustice from Matt Taibbi's New Book, 'The Divide'

In his new book, The Divide: American Injustice in the Age of the Wealth Gap, Matt Taibbi takes a look at the growing problem of inequality in the justice system. Taibbi shows, through many examples, that the way justice works in the United States is divided pretty starkly between the wealthy and successful (and mostly white) and the rest of the country. The system assumes that wealthy Americans are innocent, even when they commit crimes, and their punishments are either nonexistent or minor. Poorer Americans, on the other hand, are assumed to be guilty and face harassment and punishment well beyond their crimes, particularly when coupled with the treatment the rich get.

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What Happened to Our Economy and How Can We Fix It?

What Happened to Our Economy and How Can We Fix It?

In a new book, Restoring Shared Prosperity: A Policy Agenda from Leading Keynesian Economists, edited by Thomas I. Palley and Gustav A. Horn, some of the leading economists in the United States take a close look at the recent financial crisis in the United States and abroad and describe how to speed up and expand the recovery to benefit the entire country. Featuring an introduction from AFL-CIO President Richard Trumka and essays by a host of the brightest minds that think about the economy, including a chapter by AFL-CIO policy director Damon Silvers, the book is a comprehensive look at the facts and myths about America's economy and how to fix it.

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What Would You Do if the Bank Stole Your Home?

Wall Street wrecked the economy, and banks are still refusing to work with people who are trying to stay in their homes. The Campaign for a Fair Settlement, along with other partners, is calling on President Obama to champion an agenda that would:

1. Hold bankers accountable for their crimes.

2. Keep people in their homes by resetting their mortgages.

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100 Days to Fix What Wall Street Broke

Wall Street wrecked the economy and banks are still refusing to work with people who are trying to stay in their homes. The Campaign for a Fair Settlement, along with other partners, is calling on President Obama over the next 100 days to champion an agenda that would:

1. Hold bankers accountable for their crimes.

2. Keep people in their homes by resetting their mortgages.

Sign the petition here

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Tell Us What You Think: What’s Wrong With the U.S. Economy? The Long Answer.

This is the second of a four-part series describing what went wrong with America’s economy and how to fix it. See Part 3 tomorrow and read Part 1: "Tell Us What You Think: What’s Wrong With the U.S. Economy? The Real Scoop"—and please leave a comment to tell us what you think. (Click the chart to enlarge.)

If the short answer is “we’re still recovering from the Crash of 2008,” the long answer is “there was obviously something wrong with the economy long before the Crash of 2008.” 

There were obvious warning signs during the Bush years that should have set off alarm bells.  Most importantly, wages and middle-class family incomes were dead in the water.  The median income for working-age families started falling in 2000 and never recovered during the 2001-2007 recovery.

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Tell Us What You Think: What’s Wrong With the U.S. Economy? The Real Scoop

This is the first of a four-part series describing what went wrong with America’s economy and how to fix it. See Part 2 tomorrow—and please leave a comment to tell us what you think. (Click the chart to enlarge.)

The Great Recession officially ended more than three years ago, but working families know there’s still something wrong with the U.S. economy.  If we want to fix our economy, we first have to understand what’s wrong with it. (Click chart on the left to enlarge). 

Starting today, in a series of four posts and infographics, we’ll spell out what we see as the short-term and long-term causes of our economic problems and we’ll point to specific solutions.

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Thomas Palley: The Fed’s 2% Inflation Target Trap

The Federal Reserve recently adopted a two percent inflation target, reports Thomas Palley, AFL-CIO senior economic policy advisor. The Fed should be looking at policies that improve wages, not ones that will undercut the possibility of future wage increases and make it more difficult to achieve full employment, Palley writes In an Op-Ed published in the Economists' Forum blog titled, "The Fed's 2% Inflation Target Trap.

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From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics

“From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics,” by Thomas Palley, published by Cambridge University Press, 2012.

Thomas Palley, the former Bernard L. Schwartz Economic Growth fellow at the New America Foundation and former assistant director of public policy at the AFL-CIO, joined us here today at the federation to discuss his new book, From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics. The event is the third in the AFL-CIO summer book series, which includes discussions with noted economists who will talk about their new books on jobs, inequality and the U.S. financial crisis. (Get details and RSVP here.)

In his new book, Palley sets out to explain the cause of the 2008 financial crisis and what can be done to prevent another economic collapse. Here is a Q and A with the author:

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Citigroup’s Ex-CEO Reverses Big Bank Stance

In a surprising change of heart, the ex-CEO of Citigroup, Sandy Weill, backed off his former position that there is nothing wrong with Big Banks.

Politico reports:

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Which Greedy Banker Said It? Play the Wall St. Quotes Game

Carrie Sloan

At the height of the Wall Street financial scandal that rocked this country into near economic ruin, bankers were ablaze with greed. To mark the approaching two-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the think tank Demos has compiled some of the more colorful quotes from this group and challenges you to guess who said them.

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