The Unattainable Illusion of Meritocracy

Naked Capitalism, By Yves Smith, October 26

I’m a big fan of Richard Bookstaber, the author of the important book A Demon of Our Own Design. And while I’m glad to see a rare new post from him, on how to deal with the matter of inequality (as in whether to deal with the problem [...]

‘Bomb trains': A crude awakening for Richmond, Calif.

Local activists try to halt the shipment of explosive Bakken crude oil through their neighborhoods.

Al Jazeera, By Audrea Lim, October 24

Richmond, CA — The streets are quiet in Lipo Chanthanasak’s neighborhood on the outer edge of this city’s downtown core. Each of the small houses is painted a variation of beige and separated [...]

Fed Chairwoman Yellen Inquires About How the Unemployed Find Jobs

The Wall Street Journal’s Real Time Economics Blog, By Pedro Nicolaci da Costa, October 16

Chelsea, MA —Federal Reserve Chairwoman Janet Yellen on Thursday visited a nonprofit group here that helps unemployed people find work, and posed a question at the heart of the central bank’s debate over when to start raising interest rates.

“I’d [...]

Americans Face Post-foreclosure Hell As Wages Garnished, Assets Seized

Reuters, By Michelle Conlin, Ocotber 14

New York – Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their [...]

The Wages of Capitalism

Winston Churchill once famously said of Democracy, “Democracy is the worst form of government, except for all the others.” Oddly, he also said, “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”

I say “oddly,” because of Naomi Klein and [...]

Fired financial regulator releases secret tapes of Goldman Sachs meetings

Carmen Segarra, 41, said she began recording meetings because she couldn’t believe how the regulators bowed and scraped to the behemoth investment bank. The tapes were released to ProPublica and This American Life.

New York Daily News, By Ginger Adams Otis, September 27

A fired financial regulator whose job was to oversee Goldman Sachs for [...]

How Democracy Dies

Tocqueville taught that restless private obsessions would degrade civic commitments close to home.

The American Conservative, By Patrick J. Deneen, September 12

If there are two things that one is likely to hear from college faculty today, they are that 1. Students are too careerist, and 2. We need a more democratic society. They worry [...]

How Hillary Clinton’s State Department Sold Fracking to the World

A trove of secret documents details the US government’s global push for shale gas.

Mother Jones, By Mariah Blake, September/October ’14

One icy morning in February 2012, Hillary Clinton’s plane touched down in the Bulgarian capital, Sofia, which was just digging out from a fierce blizzard. Wrapped in a thick coat, the secretary of state [...]

Who The Fck Is Campbell Brown?

Esquire, By Charlie Pierce, August 6

To paraphrase from my grandmother, the former shepherd lass from the hills and hollows of north Kerry, who the fck is Campbell Brown when she’s at home?

Well, on the basics, she’s from Ferriday, Louisiana, the hometown of Jerry Lee Lewis, and she graduated from Regis University in Denver [...]

If You Had Told Me This Appeared on The Federalist Website….

…I would have laughed in your face. But it did:

Why abandon K-Street, and acknowledge, then reject, the Big Business perception of the GOP? They’ve had the Republican Party’s back for some time, right? In the past, the largest companies favored one party over the other because they understood a pro-capitalist, low-regulation government benefits [...]

Losing Sparta

The Bitter Truth Behind the Gospel of Productivity

VQR, By Esther Kaplan, Summer 2014

When Lisa Norris was a kid in Cookeville, Tennessee, her father worked at Acme Boots, and that plant and her childhood were intertwined. One of her earliest memories is of wandering around the factory among bins of leather, breathing in the [...]

Hey, Remember How VW Wanted to Open More Factories in the United States?

And remember how they supported unions, the (informed) workers supported unions, and hell, most of America wanted to see those plants opening up here because, jobs? And it was only a small handful of conservative morons who were all Socialism!!!!!, which of course neglects the fact that the same “socialism” was expanding production into [...]

MERS Loses Major Case in Pennsylvania

Naked Capitalism, By Yves Smith, July 7

The mortgage beat has been quiet of late, but I must confess to being remiss in writing up two recent losses suffered by MERS. One of the big reasons that MERS has taken comparatively few losses in court is that it has often settled cases where it looked [...]

Harris v. Quinn: Will the Supreme Court Abolish Public Sector Unions on Monday?

Naked Capitalism, By Lambert Strether, June 29

I cruised by Scotusblog today and saw this note:

At 9:30 a.m. on Monday we expect orders from the June 27 Conference, followed by the opinions at 10:00 a.m. We will begin live-blogging at this link at approximately 9:15. The only remaining undecided cases of the Term [...]

How to become super, super wealthy

CNN, By Josh MacIntosh, June 9

Staunton,

Your mother and I are so proud that in less than a week you’ll be graduating college, and from my alma mater, no less! So this seems an opportune moment to share some thoughts about what you might look for in a career. And as luck would have [...]

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