Congress has been rushing to save financial CEOs from themselves with a
$700 billion bailout that amounts to a tax of $2,333 on every man,
woman, and child in America. This is after three decades of the
nation's leaders punishing struggling Americans for their lack of
personal responsibility, from Ronald Reagan's assault on "welfare
queens" to the bipartisan slashing and capping of welfare benefits by
President Clinton and House Speaker Newt Gingrich.The Boston Globe.
September 30, 2008
The draft of the government's controversial
$700 billion financial rescue plan released Sunday makes it clear that
CEOs of firms seeking the bailout are about to have their pay packages
capped. USA Today.
September 29, 2008
The U.S. Congress is turning to the
tax code, long a harbor for loopholes, to penalize excessive
executive pay at many companies seeking aid from the federal
government's $700 billion bank-rescue plan. Bloomberg.
September 29, 2008
BOSTON, Sep 26 (IPS) - U.S. lawmakers and the
George W. Bush administration are continuing their closed-door meetings
through the weekend to try and fashion a softer 700-billion-dollar deal
for Wall Street that will appeal to citizens angry at the prospect of
the mega-corporate bailout. Inter Press.
September 26, 2008
WASHINGTON -- There's one thing that angry lawmakers and their
constituents agree about the Wall Street bailout being crafted by
Congress: Executives at teetering companies the government helps steady
shouldn't walk away with millions of taxpayer dollars stuffed in their
pockets. The Los Angeles Times.
September 26, 2008
The current financial crisis is
disproportionately affecting people of color. In our search for
solutions, we must remember that deregulation led us to this crisis and
that those who are traditionally the hardest-hit are people of color. Movement Vision Lab.
September 23, 2008
No other recent economic crisis better illustrates the saying "when
America catches a cold, African Americans get pneumonia" than the
sub-prime mortgage meltdown. African Americans, along with other
minorities and low-income populations, have been the targets of the
sub-prime mortgage system. The American Prospect.
September 22, 2008
UFE co-founder Chuck Collins proposes concrete, legislative solutions to the current economic meltdown. The Nation.
September 19, 2008
Nicholas Kristof sounds off about Lehman Brothers' CEO compensation and asks for comments. Make your voice heard. The New York Times.
September 18, 2008
For a guy whose astute counsel helped to make so many CEOs rich, Peter
Drucker had an intense loathing of exorbitant executive salaries. He hated high CEO pay on every level: what it said about the
individual as a leader, how it undermined the smooth functioning of the
organization, and the way it tore at the fabric of society as a whole. BusinessWeek.
September 12, 2008
