Expanding the use of such accounts, greatly favored by Wall Street, is part of almost every GOP replacement plan under consideration on Capitol Hill. But less well off people and the sick would not likely benefit.
If the $26.7 billion Wall Streeters pulled in on their bonuses last year had instead gone to minimum wage workers, our economy would be expected to grow by about $32.3 billion — more than triple the $10.4 billion boost expected from the Wall Street bonuses.
Moments of consensus between left and right don’t come frequently in Washington, and we should heed them when they occur. Right now, that means breaking up the banks, argues Amy Dean.
The most popular reason offered for the dearth of financial crisis prosecutions is that the banking system was hit by a systemic and unforeseeable disaster, which means that it’s unlikely that anyone committed any crimes. Is it?
Oliver Stone’s new “Wall Street” is worth the ride, but it’s less caffeinated than the original, and Stone gives in to sentimentalism and nostalgia where polemic serves him better.
No need to read 2,000-page bills. Here are less than 1,000 words to give you a quick primer on what’s happening now when your money becomes other people’s money.
Philip A. Farruggio argues that the United States is forgetting the lessons of 1930s Germany–and Sinclair Lewis’ prophetic warnings–at its own risk.