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Shawn Aiken – New Jersey Divests from Payday Lending

When Phyllis Salowe-Kaye learned that the New Jersey State Investment Council (NJSIC) had invested 50 million state pension dollars with a private equity firm that used some of the funds to purchase a predatory payday lender, she went through the proverbial roof. The longtime executive director of New Jersey Citizen Action (NJCA) quickly assembled a powerful coalition of consumer protection …

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Lee Fang – Top Hillary Clinton Advisers and Fundraisers Lobbied Against Obamacare

Hillary Clinton is campaigning as a guardian of President Barack Obama’sprogressive policy accomplishments. In recent weeks, she has called the Affordable Care Act “one of the greatest accomplishments of President Obama, of the Democratic Party, and of our country,” and promised that she is “going to defend Dodd-Frank” and “defend President Obama for taking on Wall Street.” Meanwhile, however, Clinton’s campaign has been relying on a team of strategists and …

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Robert Reich – “The Big Short” and Bernie’s Plan to Bust Up Wall Street

If you haven’t yet seen “The Big Short” – directed and co-written by Adam McKay, based on the non-fiction prize-winning book by Michael Lewis about the housing and credit bubble that triggered the Great Recession — I recommend you do so. Not only is the movie an enjoyable (if that’s the right word) way to understand how the big banks screwed …

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Wall Street Vampires – Paul Krugman

Last year the vampires of finance bought themselves a Congress. I know it’s not nice to call them that, but I have my reasons, which I’ll explain in a bit. For now, however, let’s just note that these days Wall Street, which used to split its support between the parties, overwhelmingly favors the G.O.P. And the Republicans who came to power this …

With Banks ‘Still Too Big to Fail,’ Another Financial Meltdown Looms – Deirdre Fulton

Seven years after the financial crisis began, many of the conditions that helped cause the near collapse of the U.S. banking system—and that were used to justify the multi-trillion-dollar U.S. government bailout of mammoth financial institutions—endure, warns a new report from the Corporate Reform Coalition (CRC). Titled Still Too Big to Fail (pdf), Thursday’s report charges that since the meltdown began in …