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Pam Martens and Russ Martens – As Big Banks Hemorrhage Capital, Glass-Steagall Is Quietly Added to Democratic Platform

The overall stock market is staging a big rally at the open of trading this morning in New York, but that is not going to calm growing anxieties over how badly systemically risky global banks traded in Friday and Monday’s two days of carnage. Watching tens of billions of equity market capital vaporize at the mega banks in two trading …

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Pam Martens and Russ Martens – Goldman Sachs Financed Hillary Clinton’s Son-in-Law to Make Bullish Greek Bets After It Structured Unseemly Greek Debt Deals that Hobbled that Country

Goldman Sachs will interminably,thanks to Matt Taibbi at Rolling Stone, conjure up images of “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” The vampire squid has now popped up in the middle of a potential new scandal involving the Clintons, while uproar over its payment of $675,000 to …

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Hillary Clinton Remains Silent on GMO Labeling Issue

Marianne Williamson – writer, activist, and minister – is still awaiting a reply to her 2014 open letter to presidential candidate Hillary Clinton. Williamson’s letter puts some very germane questions to the woman who has been called the Bride of Frankenfood. Williamson says very succinctly at the end of her open letter: “I want you to rail against the chemical companies and …

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Pam Martens and Russ Martens – 57 Percent of Our Banks Have Disappeared: You Can Thank Bill Clinton

Thanks to the Presidential debates, most Americans have heard of the Glass-Steagall Act which kept the country’s banking system safe for 66 years until it was repealed by President Bill Clinton in 1999, allowing the risky activities of Wall Street trading firms to merge with insured-deposit banks, setting the stage for the Wall Street collapse in 2008. But few Americans …

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Robert Reich – Why We Must Try

Instead of “Yes we can,” many Democrats have adopted a new slogan this election year: “We shouldn’t even try.” We shouldn’t try for single-payer system, they say. We’ll be lucky if we prevent Republicans from repealing Obamacare. We shouldn’t try for a $15 an hour minimum wage. The best we can do is $12 an hour. We shouldn’t try to …

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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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Pam Martens and Russ Martens: What Hillary Clinton Didn’t Tell You in Her New York Times OpEd

Yesterday, the New York Times gave Presidential candidate Hillary Clinton a free infomercial (a/k/a OpEd) to spin her toothless plan “to rein in Wall Street.” Hillary begins by telling us this: “Seven years ago, the financial crisis sent our economy into a tailspin. Over five million people lost their homes. Nearly nine million lost their jobs. Nearly $13 trillion in …

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Why The Status Quo Is Doomed: Income Stagnates, Costs Rise

Even if nothing else doomed the status quo, the widening gap between household incomes and costs will push the corrupt contraption over the cliff by itself. The status quo (whatever you wish to call it) requires “growth” to sustain itself–growth in consumption, spending, sales, debt, asset valuations, profits and of course taxes, and ultimately all of those “growths” depend on household …

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Pam Martens & Russ Martens – New York Times Pushes False Narrative on the Wall Street Crash of 2008

William D. Cohan has joined Paul Krugman and Andrew Ross Sorkin at the New York Times in pushing the patently false narrative that the repeal of the Glass-Steagall Act in 1999 had next to nothing to do with the epic Wall Street collapse of 2008 and the greatest economic calamity since the Great Depression. (See related articles on Krugman and …

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Mary Green Swig, Roger Hickey & Steven Swig – One In Eight Americans Burdened By Student Loan Debt, Including 700,000 Seniors

It will not be news to 41 million Americans that this nation is in the middle of a student debt crisis. That’s the number of people burdened by student loan payments. But many people, including many student debt holders, may be surprised to learn that people can be pursued for student debt even into their elder years. In fact, the …