Back in early 2010 when many of us were working to pass financial reform in Congress, we were calling for “banks to be banks not gambling houses” (see my op.eds in The Hill and the Pittsburgh Post-Gazette). The great recession largely resulted from bank deregulation in the 1990s that repealed the 1933 Glass-Steagall Act that […]
“We don’t have an obligation to solve America’s problems.” Remember this quote from an Apple executive as reported by Charles Duhigg and Keith Bradsher. It appeared in the first of a two part story that will surely win the two New York Times journalists deserved recognition for exposing Apple’s decidedly un-American manufacturing standards in China.
The investment banking firms on Wall Street are predicted to cut up to 10,000 jobs in 2012 on top of the 1800 jobs eliminated since April of this year. The industry lost about $3 billion in the third quarter of 2011 and total forecasted profits will be lower than expected. While New York City will