In what is being criticized as yet another capitulation to Wall Street—and just in time for the holidays—the Federal Reserve on Thursday announced it will give investment banks a one-year extension to implement a key aspect of the Dodd/Frank financial reform act, known as the Volcker Rule, enacted in the aftermath of the 2008 economic crisis.
Two big blows to the natural gas industry have come in less than 24 hours, with both the province of Quebec and New York state effectively banning shale gas extraction over concerns with the process of hydraulic fracturing (a.k.a. “fracking”).
At 192% occupancy, Alabama's prisons are so overcrowded that some fear a federal takeover. It's likely that some sort of prison reform (or maybe just a building spree) will be a major topic of the 2015 legislative session. And when the private prison lobbyists start waving donation checks and ALEC-inspired bills at legislators, there's a good chance some form of privatization will be under discussion.
This is a major change in the nation's drug policy, and we essentially have it thanks to the fact that most if not all legislators didn't bother to read the massive spending bill that passed last weekend and is set to be signed by President Obama.
Earlier this month, Richard Mack, a former Arizona sheriff and popular “Patriot” movement speaker, gave a speech in Pueblo, Colorado, in which he announced that he was launching a new bid for public office.
No sooner had the infamous “Citigroup amendment” been added to a vital spending measure than the warnings began. One of the first was from Rob Blackwell, writing in American Banker, who called it “a victory that may soon come to haunt the largest institutions.” Those may prove to be prophetic words, although perhaps not “soon” enough, especially if leading progressives like Sen. Bernie Sanders prevail.
Colorado U.S. Senator-elect Cory Gardner’s office announced his committee assignments today. It will come as no surprise to politics watchers that Gardner has landed on the Energy and Natural Resources committee. A Representative of the Colorado Front Range gas patch for the last four years in the House, Gardner has been a reliable champion of oil and gas on Capitol Hill, and his election campaign coffers have been brimming with oil industry money for years.
One of the themes of the superb writing of Henry Giroux is that more and more Americans are becoming "disposable," recognized as either commodities or criminals by the more fortunate members of society. There seems to be a method to the madness of winner-take-all capitalism.
Congratulations to five of our 7 U.S. House members for opposing the government-funding bill that barely passed the House late yesterday. They were Jeff Duncan, Trey Gowdy, Mick Mulvaney, Tom Rice and Mark Sanford.
Buried in the 1600+ page bill is a provision to once again put the American taxpayer on the hook for bailing out big banks that gamble with their depositors’ money.
It is exactly this kind of big-bank bad behavior that led to the Great Recession and then the 2010 passage of the Dodd-Frank Act that made the greedy big banks move their risky betting out of
Medical students at universities across the United States held dramatic die-in protests on Wednesday to show their solidarity with a growing protest movement against police brutality and other forms of systematic inequality taking place in low-income areas and communities of color nationwide.
It’s been six years since Wall Street’s recklessness and criminal fraud caused trillions of dollars in economic damage and nearly shattered the global economy. The 2008 financial crisis opened millions of Americans’ eyes to the widespread corruption and mismanagement in the financial industry, and built public support for stronger bank oversight. Initial steps were taken in that direction, primarily in the Dodd/Frank financial reform bill, and more remains to be done.
It's hard to believe, but the Obama administration has selected Chevron, the San Ramon-based corporate giant known for environmental destruction and the violation of human rights throughout the world, as a finalist for its "corporate excellence" award!
According to a State Department news release, "The U.S. Department of State Bureau of Economic and Business Affairs has announced the selection of nine finalists for the Secretary of State's prestigious 2014 Award for Corporate Excellence (ACE)."
The Secretary of State has awarded the ACE since 1999 to recognize American companies that