Amazingly, a bankruptcy judge has approved $25 million for 334 senior executives, while tens of thousands of ordinary employees face layoffs.
David Dayen
David Dayen is the executive editor of The American Prospect. He is the author of Monopolized: Life in the Age of Corporate Power and Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud. He co-hosts the podcast Organized Money with Matt Stoller.
He can be reached on Signal at ddayen.90.
Posted inHousing and Transportation
Rough Roads Ahead if California Voters Repeal Their Gas Tax
Beyond jeopardizing road repairs and mass transit, Prop. 6 would strike at the very nature of governance itself in the Golden State.
Posted inEconomic Policy
How Sears Was Gutted By Its Own CEO
Eddie Lampert not only ran the company; he was also its largest creditor and the guy who sold major Sears assets to … Eddie Lampert.
Posted inEconomic Policy
Why the Aetna and CVS Merger Is So Dangerous
Aetna and CVS have more incentive than ever to use their market power to crush competition, and the Justice Department just gave them the opportunity.
Posted inEconomic Policy
How BlackRock Rules the World
The planet’s largest investment fund handles Mexico’s pension funds—and owns the companies they invest in. Cozy!
Posted inMoney, Politics, and Power
Schumer Surrenders
The Democrats’ Senate leader lets Mitch McConnell pack the courts.
Posted inMoney, Politics, and Power
Trump Eliminates the Middleman
His administration takes aim at the heretofore legal kickbacks to prescription drug distributors—but leaves the drug companies themselves untouched.
Posted inMoney, Politics, and Power
Bank Deregulation 2.0 Is Here
A new bill supported by both Democrats and Republicans is yet another deregulatory action that gives Wall Street room to run in dangerous directions.
Posted inMoney, Politics, and Power
Will the Tax Act Set Back Private Equity?
In their haste to find revenue to offset the cost of their tax cut, Republican tax writers have made life a little trickier for the private equity industry.
Posted inMoney, Politics, and Power
Gutting the AMT
Just to be sure that no wealthy taxpayer is left behind, the Tax Act destroys the Alternative Minimum Tax.
