Archive

  • 5 Ways Wall Street Continues to Sandbag the Economy, and How to Fix It

    Flickr/Alex E. Proimos
    Flickr/Alex E. Proimos This article originally appeared at The Huffington Post . The shocking thing about the financial collapse of 2008 is not that Wall Street excesses pushed us into the worst economy crisis since the Depression. It's that the same financial system has been propped back up and that elites are getting richer than ever, while the effects of that collapse are continuing to sandbag the rest of the economy. Oh, and most of this aftermath happened while a Democrat was in the White House. Consider: The biggest banks are bigger and more concentrated than ever. Subprime (subprime!) is making a comeback with interest rates of 8 to 13 percent. Despite Michael Lewis's devastating expose of how high speed trading is nothing but a technological scam that allows insiders to profit at the expense of small investors, regulators are not moving to abolish it . The usual suspects are declaring the housing crisis over, even though default and foreclosure rates in the hardest hit cities...
  • Watch Paul Waldman on Washington Journal

    C-SPAN
    The American Prospect 's contributing editor appeared on the June 29, 2014 edition of C-SPAN's Washington Journal .
  • Listen to Harold Meyerson Analyze the Supreme Court's Big Anti-Union Decision on 'To the Point'

    Shutterstock
    Harold Meyerson, The American Prospect 's editor at large, appeared on the June 30th edition of Public Radio International's To the Point , analyzing the Supreme Court decision in Harris v. Quinn , which allows home health-care workers in Illinois to opt out of paying their union dues. Listen here . Read Meyerson's essay on the Harris case here: Supreme Court Rules Disadvantaged Workers Should Be Disadvantaged Some More
  • Supreme Court Rules Disadvantaged Workers Should Be Disadvantaged Some More

    DVA.gov
    DVA.gov The United States Supreme Court building in Washington, D.C. T he conservative majority on the Supreme Court today took up the case of some of America’s most disadvantaged workers, and ruled that they should be disadvantaged some more. The five-to-four ruling in Harris v. Quinn goes a long way to crippling the efforts that unions have made to help these workers get out of poverty. The case concerned some 28,000 home care aides in Illinois whose paychecks come from Medicaid. Before the state agreed in 2003 that they could form a union, they made the minimum wage. (It’s the state that sets their wage rate, since their pay comes entirely from Medicaid.) Currently, as a result of their union contract, they make $11.85 an hour rather than the minimum of $7.25. Tomorrow, by the terms of their contract, their hourly rate is raised to $12.25, and on December 1 st to $13. The right to hire and fire these workers remains solely, of course, that of their home-bound patients and their...
  • Why the Fight Over Executive Authority Will Define the Rest of Barack Obama's Presidency

    Official White House Photo by Pete Souza
    Official White House Photo by Pete Souza President Barack Obama returns to the Oval Office after giving interviews in the Rose Garden of the White House, May 6, 2014. I t's axiomatic to the point of cliché that in their second terms, presidents turn their attention to foreign affairs, where they have latitude to do what they want without having to get Congress's permission. By the time they've been in office for five or six years, they're so fed up with wrangling 535 ornery legislators that they barely bother anymore, and without an election looming (and with approval ratings often sliding down), they concentrate on what they can do on their own. But faced with an opposition of unusual orneriness—perhaps more so than any in American history— Barack Obama has made clear that he won't just be concentrating on foreign policy. He'll be doing whatever he can to achieve domestic goals as well, even if Republicans have made legislating impossible. The conflict over the actions he has taken...
  • What Americans Think of the Poor

    Pew Research Center
    The Pew Research Center has released one of their periodic Political Typology studies , and as usual it contains a wealth of fascinating data on what people think about a whole range of issues. One of the most useful things about it is that instead of just asking people whether they consider themselves liberals or conservatives, it constructs a typology based on a series of questions, enabling them to divide people in a more fine-grained way that doesn't rely solely on self-identification (they divide Americans into two strongly conservative groups, one mostly conservative group, one mostly liberal group, and three more strongly liberal groups). When I went through the survey, one question jumped out at me, the one represented here: Those of you who read my writing regularly know that I make an effort to understand where people who disagree with me are coming from. That doesn't mean I'm any less likely to disagree with them, or even that I don't use barbed language sometimes in...
  • Why China Has Strikes Without Unions

    AP Photo/Vincent Yu
    Protesters from labor organizations hold banners and placards during a protest to support workers on strike at Yue Yuen Industrial ( Holdings ) Ltd, at an Adidas office at a shopping mall in Hong Kong, Thursday, April 24, 2014. Workers on strike at a Chinese factory owned by the world's largest maker of athletic shoes had rejected management's latest offer in a labor dispute that crimped production for brands such as Nike and Adidas. H an Dongfang believes that China’s workers may one day compel the country’s Communist Party to actually become social-democratic. I’m not sure if that makes Han the most credulous of China’s democracy activists or the canniest strategist now working to democratize that nation. I am sure, however, that he’s had more successes than anyone else in empowering Chinese workers. Speaking last week to a Washington conclave sponsored by the Albert Shanker Institute, Han recounted the victories that striking Chinese workers have won over the past four years. In...
  • Can the U.S. Stop Drones From Creating a More Dangerous World?

    A drone launches from the USS Lassen (U.S. Navy photo)
    In an op-ed in today's Washington Post , retired Army general John Abizaid and Rosa Brooks, a former Defense Department official, warn that "[t]he United States' drone policies damage its credibility, undermine the rule of law and create a potentially destabilizing international precedent—one that repressive regimes around the globe will undoubtedly exploit." Their argument, which comes from a report they produced for the Stimson Center together with a task force of former defense and intelligence officials, is essentially that unmanned aerial vehicles make the use of lethal force across borders too easy, and we need to establish strict policies limiting their use. True enough. But the question I'm left with is, how much will the United States' policies really determine the worldwide future of drones and their use? Before we get to that, we should acknowledge that President Obama has declared his intention to establish rules restraining his own and future presidents' use of drones. In...
  • In Dramatic Pointless Gesture, Boehner to Sue Obama

    Official White House Photo by Pete Souza
    Official White House Photo by Pete Souza President Barack Obama and Vice President Joe Biden meet with the bipartisan, bicameral leadership of Congress to discuss the fiscal cliff and a balanced approach to the debt limit and deficit reduction, in the Roosevelt Room of the White House, Nov. 16, 2012. Participants included: House Speaker John Boehner at left, Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, House Minority Leader Nancy Pelosi, Chief of Staff Jack Lew, Treasury Secretary Timothy F. Geithner, and National Economic Council Director Gene Sperling. P retty much since the moment Barack Obama finished speaking the oath of office in January 2009, Republicans have been charging that he was abusing his power, exceeding his authority and acting like a tyrant. You might remember that for a time in those early days, conservatives (led by Glenn Beck) were obsessed with the idea that Obama had appointed a group of "czars" who were wielding unaccountable power...
  • Thad Cochran Runoff: For Once, Republican Outreach Works

    Flickr/Sparky
    For some time now, Republicans have expressed a desire to "reach out" to voters who aren't the prototypical Republican. If their party is made up almost entirely of white Christians, and largely older white Christians at that, they can continue to win congressional elections but have no hope of winning the White House any time soon in a country that grows less white and less Christian by the day. Well, yesterday we had an example of a Republican successfully reaching out to voters who aren't traditionally Republican. Sen. Thad Cochran, who has been in Congress approximately since mastodons roamed the Gulf Coast, won his runoff election against angry Tea Partier Chris McDaniel in part by convincing Democrats to vote for him in the run-off election. And in Mississippi, Democrats means black voters (in 2008, the last presidential election for which we have Mississippi exit poll data, 88 percent of the state's whites voted for John McCain). So we had the rather unusual spectacle of a...

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