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Controversial Book On Obama Appears To Have Lifted Key Quote
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Republicans vs. Democrats: Toys R Them
By Robert and Donna Trussell - Politics Daily...
Average Wall Street Pay Plummets to Still-Rich-By-Any-Measure Numbers
By Paul Wachter - Politics DailyThose struggling in these economic times -- brought on to a large degree by the financial shenanigans of big banks -- may be comforted by the news that Wall Street employees are suffering, too. An "analysis of their pay has found that it declined more in 2009 than in any other year in the last eight decades -- more even than in the years of the Great Depression," reports the New York Times. The drop is sizable: 21. 5 percent. But put in perspective, the news is unlikely to draw much sympathy from Main Street. After all, the average salary on Wall Street was still $311,279. The nation's median ...
Chaos Theory - Supreme Court: Beacon of Hope
By Robert and Donna Trussell - Politics Daily...
Obama Will Propose New Limits on Banks
By David Sessions - Politics DailyPresident Obama is expected to propose giving bank regulators authority to limit the size of banks and prohibit the trading of accounts, the New York Times reports. In doing so, Obama will put his support behind a plan long advocated by Paul Volcker, the former chairman of the Federal Reserve. The new regulations would stop proprietary trading, including trading of mortgage-backed securities, the financial products that played a large role in the market crash of 2008. The White House will work with the House and Senate to include the new proposals in pending legislation for financial ...
London Slaps 50 Percent Income Tax on Residents Making £1 Million
By David Sessions - Politics DailyLondon disappointed bankers who hoped to live there cheaply by imposing a new income tax on residents making more than £1 million, Bloomberg reports. The tax comes ahead of a tough election for Prime Minister Gordon Brown, who has pledged to make the finance industry "the servant of people and industry, and not their master." Income tax on top wage earners will rise from 40 to 50 percent in April, and will make London the most expensive city in the world for the wealthy. A London banker will now pay £491,278 of every £1 million he or she makes -- £60,000 (about $99,000) more than he or she ...
Chaos Theory - Banksters Gotta Eat Too
By Robert and Donna Trussell - Politics Daily...
Obama Presses Banks to Lend, Accept New Regulations
By David Sessions - Politics DailyIn an hour-long meeting Monday, President Obama pressed executives from Wall Street banks to increase their lending to small businesses and stop fighting financial regulation efforts, the New York Times reports. "America's banks received extraordinary assistance from American taxpayers to rebuild their industry," Obama said in remarks after the meeting. "Now that they're back on their feet, we expect an extraordinary commitment from them to help rebuild our economy." The president hoped to use the meeting to capitalize on public outrage at the banks' dependence on taxpayers for bailouts, and ...
Health Care Reform a Distraction from Mortgage Misdeeds?
By Bob Franken - Politics DailySo it's over. The guys have had their beer. President Obama has smiled through clenched teeth at the "Beer at the White House" diversion from health care reform. Has anyone considered, though, that the single-minded focus on health care is also a diversion? ...
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