On Tuesday, while speaking at the Center for American Progress Ideas Conference, Senator Kirsten Gillibrand made a rhetorical boo-boo.
What is the most immoral industry? Tobacco? Maybe. Guns? A contender. But it is hard to imagine any industry more loathsome than private prisons. And everyone should know exactly what respectable people are giving private prisons their money.
The Trump Labor Department this week issued an extremely important advisory to all of you with retirement accounts: do not, under any circumstances, try to invest your money ethically. Got it?
Today, the House voted to approve the Volcker Rule Regulation Harmonization Act, an innocuous name for a not-so-innocuous bill. The bill would weaken the Volcker Rule, which prohibits banks from making speculative investments with regular people’s money (with exceptions), by exempting banks with less than $10 billion…
This piece is part of Splinter’s series The New Guard, where we interview progressive candidates who are running in 2018 midterm races across the country to shake up the Democratic Party establishment.
The Trump administration is reportedly set to announce that Larry Kudlow will replace Gary Cohn as the head of the National Economic Council and Donald Trump’s top economic adviser.
It’s been 10 years since the financial crisis devastated pretty much everyone besides America’s biggest banks, which were mostly bailed out and left unpunished. Now, thanks to a crucial assist from some Democrats in the Senate, we may be due for a repeat.
If there was one overriding thing that Americans were crying out for in the populist wave that swept our national politics in 2016, it was, uh... let me check my notes here... to make big banks riskier so that they can make a little more money before they blow up and we have to bail them out again.
Earlier this month, the Consumer Financial Protection Bureau asked for public comment on its enforcement processes, which includes the fines it levies against financial institutions for defrauding or abusing their customers. So far, pretty much everyone offering their comments seems to agree that’s a good thing. Even…
Why has the investor class been getting richer for decades as the working class’s share of the pie grows smaller? One prime reason is: our system, left unchecked, leads inevitably towards monopoly, which eats us all alive.
If anyone tries to make the argument to you that free markets rationally deploy capital towards its most productive purpose, ask them to explain the last month in the life of Kodak.
In the past week, the U.S. stock market has seen its two biggest one-day drops in history. The market is down more than 10% from its recent high point, entering “correction” territory. This is good.
Since the passage of the GOP’s wildly unpopular and regressive tax bill, American companies have been coming out of the woodwork to announce they are using their tax windfalls to invest in their employees. Even nominally “liberal” companies like Apple and Starbucks have credited Congressional Republicans and the Trump…
The New York Times reports that a group of Senate Democrats is helping the Republican effort to roll back the Dodd-Frank bank regulations signed by President Obama in the wake of the 2008 financial crisis. The new proposal would raise the threshold for extra regulatory scrutiny from $50 billion in assets to $250…
The CEO of the world’s largest money manager has decided—to much fanfare—to tell corporate America that they must “serve a social purpose” and make a “positive contribution to society.” The spectacular delusion and hypocrisy that enable such a statement to be made is something worth examining for its sheer shock…
America’s pension system is a disaster. The great dream of “market-oriented” types is that our retirement problems can be solved by making everyone invest their own money via 401(k) plans. But... how does that work, again?