Katherine Porter’s book, Broke: How Debt Bankrupts the Middle Class, is a group of essays based on the 2007 Consumer Bankruptcy Project. The 2007 CBP collected basic information on substantially all Chapter 7 (liquidation) and Chapter 13 (partial repayment plans) cases filed for five consecutive weeks in early 2007, and selected 1000 cases per week for detailed study. The researchers collected data from a) the petitions filed by the debtors, which contain enormous detail about their financial condition; b) other court records; c) questionnaires from about half of the cases; and d) interviews of about 20% of the filers. That is a wonderful cross-section of Americans whose finances were destroyed just before the Great Crash.
|By: masaccio Sunday March 25, 2012 1:59 pm|
|By: Peterr Saturday February 4, 2012 9:00 am|
The NYT discovers what FDL readers have known for quite some time: the SEC is a doormat outside the banks and financial institutions of Wall Street.
But it’s not just people outside the SEC who see this. The Partnership for Public Service took data from annual OPM employee surveys of government workers and discovered that in 2011, the SEC ranked at or near the bottom in the “large agency” category, dragged down by abysmal ratings for the employees’ views of the effectiveness of the leaders and the leaders’ strategic management.
Whether seen from the inside or the outside, the conclusion is the same: the SEC is failing at its mission. For the banks, this is a feature, not a bug.
|By: Elliott Sunday July 10, 2011 2:00 am|
Good morning friends. I suppose the lineup bugged Scarecrow, here’s what he had to say …
|By: masaccio Thursday September 2, 2010 2:00 pm|
In the aftermath of the Great Recession, a debate over Social Security, is heating up. This debate raises fundamental questions about what kind of society Americans wish to live in. So far, the debate has been between those deficit busters who say Social Security must be trimmed back to reduce government indebtedness, and others who want to maintain it as is.
But the New America Foundation just released a study that proposes a different approach: doubling the current Social Security payout, and making it a true national retirement system. Creating a more robust system of “Social Security Plus” not only would be good for American retirees, but also would be good for the greater macro economy.