According to the latest reactionary brainwash scheme turned corporate media narrative America has a “spending problem.” We spend too much on taking care of people (stop laughing rest of the developed world) and therefore we have to go on a severe diet of austerity to enrich Wall Street banksters restore fiscal sanity. Because if we do not rich people and their friends the global bond market will punish us with fire and brimstone – like vigilantes they will say “make my day” and years later relive their glory by cursing at an empty chair.
|By: DSWright Saturday December 8, 2012 1:00 pm|
|By: David Dayen Thursday October 18, 2012 9:45 am|
The stock market has become a war between algorithm-based robots, a war for speed where the winners trade 10 microseconds faster than the losers. But all sides of this war have armed themselves so well, have reduced the timing of trades so much, that high frequency trading no longer makes much money.
|By: David Dayen Tuesday June 19, 2012 5:25 pm|
Actor Mark Ruffalo, musicians Tom Morello (Rage Against the Machine) and Chris Martin (Coldplay), economists Jeffrey Sachs, Joseph Stiglitz and Larry Mishel (EPI), and Bishop Desmond Tutu have endorsed the Financial Transaction Tax (FTT) as part of the US coalition. National Nurses United, one of the leading labor groups on this issue, has taken a role in this project as well. They have planned rallies in 15 US cities over the course of the week.
|By: David Dayen Wednesday October 19, 2011 7:30 am|
The idea that a diverse global movement would settle on a singular idea on which to move forward may not seem realistic. But the Demands working group at Zuccotti Park is working around to that one demand, and not surprisingly, it involves the most important problem facing the nation today.
|By: Jon Walker Thursday October 13, 2011 3:25 pm|
I haven’t written about what I think the Occupy Wall Street protesters policy demands should or shouldn’t be because I don’t feel it is my place. Yet as I see more and more people tell the Occupy Wall Street people what they should demand, I feel there is simply one piece of advise I must offer: aim big
|By: Ruth Calvo Wednesday August 17, 2011 11:01 am|
When the leaders of France and Britain got together yesterday, they were facing realities that are not kind to the European community’s economic future. That they suggested what is bound to stir a lot of bad feelings among the banksters, a tax on financial transactions, shows vision that we desperately need. The U.S. would be in much better shape for the future if there were even the slimmest prospect that such a concept could be floated here.
|By: David Dayen Monday May 9, 2011 3:50 pm|
Sen. Charles Schumer, in addition to smack-talking John Boehner on the debt limit, came out with two policy ideas over the weekend, one abominable and one that has quite a bit of merit. See if you can guess which one got more attention.
|By: David Dayen Monday January 24, 2011 4:30 pm|
We’re headed into the deficit debate, and one attractive idea has been left on the sidelines – the notion of a financial transactions tax. Most of our stock transactions these days come out of a computer. They offer nothing of value to the public, enhance risk and feed a desire for more dangerous bets that could (and often do) cause financial crashes. As a society, even if we had no need for more revenue, we would do well to limit this growing financialization in the economy, and that goes hand-in-hand with limiting stock transactions. And one great way to use market forces to reach that goal is through a small tax on each transaction.
|By: David Dayen Monday May 24, 2010 6:30 pm|
One of Wall Street’s finest slipped and told the New York Times that the financial reform bill wouldn’t affect their core business to any major degree.