by Robert Reich
Washington is paralyzed by snow and partisanship. Nothing is getting done – even as the Great Recession pulls more Americans into its maw.
In the midst of this paralysis, the President was asked about the giant pay packages of Jamie Dimon, CEO of JP Morgan Chase & Co. ($17 mullion for 2009) and Lloyd [...]
Tag | Bank of America
One Free Market System for Wall Street, Another Free Market System for Main Street
Posted on 15 February 2010 by Robert Reich | Comments (0) | Tags: $700 billion bailout of Wall Street, Bank of America, bankruptcy, Citigroup, free market system, Goldman Sachs, Jamie Dimon, JP Morgan Chase, Lloyd Blankfein, Main Street, Morgan Stanley, President Obama, Robert Reich, Wall Street, Wells Fargo
Connecting the Offshore Dots
Posted on 05 May 2009 by Denis Campbell | Comments (0) | Tags: Bank of America, Cayman Islands, Citi Group, Morgan Stanley, MSNBC, Rachel Maddow, shell companies, Tax Code, Tax shelters, Ugland House
by Denis Campbell
Rachel Maddow’s example on MSNBC was a simple enough explanation of how $21 billion dollars in annual tax revenue disappears from US coffers through legal loopholes that create tax shell corporations.
Mr. Bill Hypothetical, based in Texas, earns $50,000 annually and pays a 25% tax rate. KBR’s profits, also based in Texas (a military [...]
Hugh’s Dream Crumbles
Posted on 30 April 2009 by Denis Campbell | Comments (0) | Tags: Bank of America, Bank of Boston, Boatman Bancshares, Bridge too far, C&S/Sovran, Chairman, Citigroup, FleetBoston, Hugh McColl, Kenneth Lewis, massive empire, MBNA, Morehouse College President, NCNB, Too big too fail, Walter E. Massey
Yesterday at a few minutes before 6:00 pm, Hugh McColl’s former nationwide bank dream empire suffered yet another humbling blow. Bank of America shareholders stripped Kenneth D. Lewis of his Chairman’s title. What many consider a prelude to being shown the door, they appointed former Morehouse College President Walter E. Massey as Chairman. While Lewis [...]
Killing Your Nation to Make a Point
Posted on 02 March 2009 by Denis Campbell | Comments (0) | Tags: 1000 banks in serious danger of failure, 4%, 4th Quarter of 1982, 630000 people applied for unemployment benefits last mo, and that means the economy teetering on the edge of an, Bank of America, borderline treasonous, Citigroup, collectively owe to all sources $13.7 trillion dollars, Cycles come and go, Denis Campbell, Dow just closed down another 300 points, GDP was £13.7 trillion dollars last year, headed to 10 or 11%, intransigence can be proven correct, Killing Your Nation to Make a Point, Limbaugh, Markets rise and fall, no one has yet pulled the plug on their life support sy, opposition party directly and overtly root for the Pres, O’Reilly and Hannity rooting for failure along with “le, Right now there is no middle ground, technically insolvent, That year was 1929, the last Quarter of 2008 it fell by 6.2%, time for us all to head to the mattresses, Unemployment is above 7%, US Gross Domestic Product (GDP) fell by 6.4 per cent, ‘Godfather’ style, ‘zombie banks’
Should I worry? The Dow just closed moments ago down another 300 points or 4%. If rhetoric from opposition party ‘thought leaders’ in the US this past weekend seems borderline treasonous, well… that’s because it is. When leaders of any opposition party directly and overtly root for the President to fail, and that means the [...]
Senate Plop-plop, Fizz-fizz
Posted on 02 October 2008 by Denis Campbell | Comments (1) | Tags: 000 cut in his bank business credit line, 1991, 80-years as Florida’s corporate bank, Bank of America, Bank of Boston, bi-partisan decision to save global credit markets, Blue collar Brockton, California, captain of the Exxon Valdez, cardboard boxes, cavalier attitude, Charley James, Comptroller of the Currency, credit crack addicts, decimated, do without the hassle, First Union Bank acquired fire sale assets, Fleet Financial, Florida, founded in 1784, gobbled up by Wachovia, hard to feel sorry, hatred for bankers, London City HQ, mailing free credit cards to students and infants, Miami’s Southeast Banking Corporation, new-found religion of ‘prudent restraint’, real estate broker, rescued by Citigroup for the fire sale price of $1 a sh, school bully, Senate, shut off the lending spigot, Southeastern Massachusetts, strangling markets, Terri Tobin-Young, trying to sleep it off, typically over-reacted, unilateral $10, USA’s oldest chartered bank, Wall Street, who kicks your butt seven ways to Sunday to get ‘them’, years of irresponsible lending
by Denis Campbell
$700,000,000,000… oh what a relief, it is! With apologies to Alka-Seltzer, one chamber crawled out of the sandbox and reached an unpopular but bi-partisan decision to save global credit markets last night as banks held a Russian Roulette pistol with six chambers full to our heads and yelled, “stop me before I shoot.”
Crisis [...]
Is The End Near For The Poorest Rich Nation On Earth?
Posted on 16 September 2008 by Charley James | Comments (0) | Tags: $50-billion, 1948, an accessory after the fact, bailed out, Bank of America, Banks and financial markets became so deregulated that, Bear Stearns, Bill Clinton, Bill of Rights, Charley James, criminal that his secretary pays a higher tax rate than, cut back programs to help those most affected, Cut taxes even more for the wealthy, democratic party, filed for Chapter 11 bankruptcy protection, Freddie and Fannie, George Bush, home owners, Is The End Near, Lehman, liquidation is almost a certainty, McCain, Merrill Lynch, Milwaukee, Obama-Biden ticket to begin screaming from the rooftops, people easily duped, Poorest Rich Nation On Earth, Repent! The End Is Near, Republican answer, Republican-controlled Congress, rescued by the Fed, Ronald Reagan, small businesses, stave off the worst economic crisis in 80 years< Rea, tax code that rewards hoarding, they want you to vote for them so they can steal even m, they’re stealing from you, touting his tax cutting bilge, Truman, Wall Street, Warren Buffet, yawning gap between have’s and have-nots, your children’s future, your life, your wallet, “bargain” price
by Charley James
When I was a kid in Milwaukee, there was a guy who walked up and down Wisconsin Ave., the main drag, wearing a sandwich board proclaiming, “Repent! The End Is Near.”
Of course, he meant his warning in a “come to Jesus now” sort of way. But if the fellow is still alive, I [...]
Lehman Brothers Stock Plummets
Posted on 12 September 2008 by Denis Campbell | Comments (0) | Tags: $16 billion dollars in mortgage security write-downs, 80s mantra, 9-figure salaried managers, a billion here, a billion there, airlines want the same thing from Washington, bamboozled Republican government, Bank of America, Bear Stearns, Chinese, Credit markets, dangerous, days numbered, deflect blame, dodgy re-packaged mortgage backed securities, Fannie and Freddie in federal receivership, fund our consumer lifestyle forever, game is in the bottom of the 9th with their team down b, government assisted takeover, Greed is Good, inmates ran the asylum, investors bracing, Japanese, JP Morgan, killed Bear Stearns, Laissez Les Bon Temps Roulez, legacy auto makers GM and Ford, Lehman Brothers, Let the Good Times Roll, lobbyist buddies, make money, more bad news, motto of the street, multi-billion dollar bailout, oil oligarchs in the Mideast, pretty soon it adds up to real money, Russians, Senator Everret Dirksen, shotgun wedding, Stock Plummets, street jittery, sub-prime mortgage fiasco, the good times may be over, Wall Street, Washington, zero regulation and oversight
The 1980s mantra “Greed is Good” is coming home to roost as 9-figure salaried managers across Wall Street are waking up this morning to the realisation that the good times may be over, their days numbered and the game, if not over, is in the bottom of the 9th with their team down by 11-runs.
Their [...]
Saturday, 20th March 2010
Live Political Twitter Feed
Wilderness Dispatches
The Lunacy of Republican opposition in the Healthcare Debate writ large!
Advertisers
Browse Archives
About The UKProgressive
UK Progressive began during the 2008 US Presidential Campaign. It replaced two blogs: "Outside the Boundaries" (dedicated to US/UK Politics and Business) and "Fire the Guru!" an expose of charlatans in the Mind Body Spirit business. It was briefly known as The Vadimus Post from the Latin 'Quo Vadimus' or 'Where Are We Headed?'
We publish from a 19th century hilltop farmhouse in Monknash on the South Wales Glamorgan Heritage Coast. US-journalist Denis Campbell, based in The Netherlands and UK for 12-years is the publisher/editor. You can follow his live news feed on Facebook.com (Denis Campbell) and Twitter @UKProgressive.
The opinions expressed here are those of each contributor and do not represent the opinion of UK Progressive, our advertisers, sponsors, any related companies and/or their affiliates. We use a Creative Commons licence allowing content here to be re-published for non-commercial, non-derivative use, without editing or changing and that credit be provided to UK Progressive with a trackback URL.
Donate
UK Progressive is a free service. I cringe every time I hear a pbs, truthout or npr never-ending appeal for money. They make much more than we do. We're not your mother, we'll skip the guilt trip. If you like what you see here and would like to help us bring it to you by making a donation to support future developments, we'd really appreciate it. Thanks.
License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 2.0 UK: England & Wales License.