Marty Chavez: End Wall Street Welfare
Original Author:
Mary Ellen Broderick
This is a guest blog by Marty Chavez, candidate for Congress in the NM-1 Democratic primary.
Our classrooms are overcrowded. Our teachers are overworked. All due to misplaced priorities during budget cuts. And, the mega corporations? Record profits. They’re making more than ever before.
New Mexico’s working families are tightening their belts and doing more with less. It’s time for everyone to pay their fair share and end the corporate handouts!
Mega companies such as ExxonMobil, General Electric and Bank of America pay ZERO taxes -– and they’re not alone! Nearly 2/3 of U.S. corporations pay no taxes at all after deductions, refunds and credits.* In fact, General Electric recently closed a local New Mexico plant that cost us 400 high-quality jobs.
Original Author:
California Labor Federation
by Mitch Seaman, California Labor Federation
Forbes magazine as gutsy consumer advocate? Well, not really, but even the favored rag of corporate shills everywhere seemed stunned by Bank of America’s $5 debit fee announcement on Friday, accusing the banking behemoth of committing
a common mistake large corporations make: taking the customer for granted, holding the belief that whatever products or services they offer are unique and indispensible, so their customers will always be there.
While we agree that Bank of America’s incompetence runs rampant throughout the banking industry, by several measures of greed and arrogance, this troubled corporation stands alone. Allow us to present Bank of America with the following uniquely dubious titles:
On Bilking The Sophisticated, Or, Check It Out: We’re Suing Banks!
Original Author:
fake consultant
I took a break to enjoy the holiday, as I’m sure many of you did, but my inbox kept busy, and on Friday came a doozy, courtesy of the Washington Post.
You remember that little bit of a banking crisis we had a couple of years back, where banks around the world might have possibly, maybe, just a little, conspired in a giant scheme to package toxic mortgage loans into Grade A, investment-ready securities instruments, which then blew up in everyone’s faces to the tune of a whole lot of taxpayer bailouts?
Well all of a sudden, it looks like an agency of the Federal Government is looking to do something about it, in a real big way. Last Friday the Federal Housing Finance Agency (FHFA) announced they’re suing 17 firms (I’ll give you a list, bit it’s pretty much all the usual suspects); depending on who you ask the Feds are seeking an amount as high as $200 billion.
As Joe Biden would say, it’s a big…well, it’s a big deal, anyway, and that’s why we’re starting the new week with this one.
Bank of America
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