Jobless recovery continues

posted by Mactyler on Saturday July 19, @03:39AM

The recession may be over, but the jobless recovery continues unabated.

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Buffett slams dividend tax cut

posted by ewing2001 on Tuesday May 20, @10:15PM

http://money.cnn.com/2003/05/20/news/buffett_tax/i ndex.htm --

Buffett slams dividend tax cut

One of world's richest calls plan 'voodoo economics,' says it puts burden on low-income families.
May 20, 2003: 10:41 AM EDT

NEW YORK (CNN/Money) - Renewing his criticism of the dividend tax cut laid out by the Senate last week, Berkshire Hathaway's Warren Buffett called the proposal "voodoo economics" that uses "Enron-style accounting."

The Senate's plan for dividends to be 50 percent tax free in 2003, 100 percent tax free in 2004 through 2006 and then face the full tax in 2007 would "further tilt the tax scales toward the rich," Buffett wrote in an opinion piece in the Washington Post.

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Prize Fighter Thumps Bush (J. Stiglitz takes on "Dubyanomics", IMF)

posted by admin on Saturday May 17, @01:51PM

Faisal Islam meets Joseph Stiglitz, the Nobel laureate who took on the IMF and is now turning his guns on the American President

Sunday May 18, 2003

The Observer

Jospeh Stiglitz is no bully. After last year's publication of Globalisation and its Discontents, which set off a limpet mine under the cozy and unchallenged world of International Monetary Fund policymaking, the Nobel Prize-winning economist now has his sights set closer to home.

Stiglitz is putting the finishing touches to a searing critique of Dubyanomics. The emergence of a neo-conservative economics makes the Columbia university professor almost nostalgic for the neo-liberalism that he successfully debunked last year.

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Ex-Eli Lilly Executive involved in Insider Trading Scandal

posted by ewing2001 on Wednesday May 07, @05:35AM

State Subpoenas 30 Business Elite

http://www.indystar.com
May 7, 2003

INDIANAPOLIS -

"...A "who's who" of the Indianapolis business community is being issued subpoenas from state regulators involving the sale of shares in IPALCO Enterprises around the time the utility company was bought by AES Corp. in 2001.

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Berlucsconi Fights Corruption Charges

posted by NYC on Monday May 05, @12:40PM

Ananova, May 5, 2003

Italian premier Silvio Berlusconi told a court trying him on corruption charges he had participated in the contested business deal only to serve the best interests of his nation.

The billionaire businessman is accused of bribing judges in Rome to sway in his favour a ruling on the sale of former state-controlled food company SME in the 1980s.

Continued.

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Fifth Former HealthSouth C.F.O. Pleads Guilty

posted by NYC on Monday May 05, @12:19PM

Fifth former HealthSouth CFO pleads guilty

Reuters, 05.05.03, 12:32 PM ET

BIRMINGHAM, Ala. (Reuters) - Federal prosecutors completed their sweep of former HealthSouth Corp. chief financial officers on Monday when Aaron Beam pleaded guilty to criminal fraud charges in the company's massive accounting scandal.

Beam, 59, pleaded guilty in U.S. District Court in Birmingham to bank fraud and making false representations to HealthSouth's lenders. The charges carry a maximum penalty of 30 years in prison and a $1 million fine.

Continued.

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The Bush Crime Family Demonstrates It's Loyalty

posted by admin on Saturday April 12, @08:51PM

At Least Our MBA pResident Wasn't Lying When He Said

He Was Going To Run The Country Just Like A CEO!

Observer: Scandal-hit US firm wins key contracts

"A US military contractor accused of human rights violations has won a multi-million-dollar contract to police post-Saddam Iraq, The Observer can reveal.

DynCorp, which has donated more than £100,000 to the Republican Party, began recruiting for a private police force in Iraq last week on behalf of the US State Department.

The awarding of such a sensitive contract to DynCorp has caused consternation in some circles over the company's policing record. A British employment tribunal recently forced DynCorp to pay £110,000 in compensation to a UN police officer it unfairly sacked in Bosnia for whistleblowing on DynCorp colleagues involved in an illegal sex ring. "

http://www.observer.co.uk/international/story/0,6903,935689,00.html

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What do you do when your economic policies and tax giveaways lead to Massive Debt?

posted by admin on Saturday April 12, @08:39PM

Blame Other Countries!

So much for the party of personal responcibility

Snow Says Japan, Europe Share Some Blame for US Deficits

Washington, April 12 (Bloomberg) -- U.S. Treasury Secretary John Snow tried to deflect international criticism of rising U.S. trade and budget deficits, blaming them in part on slow growth in Japan and Europe.

``The relatively weak domestic economies in the rest of the world mean we can't sell as much as we otherwise would be able to,'' Snow said at a press conference in Washington, after meeting with finance ministers and central bankers from the Group of Seven industrial countries.

Bush administration tax cuts that may contribute to record budget deficits in the short term are needed to spur faster growth, Snow said he told the G-7. The U.S. would export more goods than it imports if growth elsewhere were stronger, he said he also told his counterparts.

more…

http://quote.bloomberg.com

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New Signs of Weakness Show Risk of Resuming Recession

posted by NYC on Friday March 14, @01:10PM

From The New York Times:

By KENNETH N. GILPIN

A fresh batch of data released today showed further weakness in the American economy, and analysts said the reports did little to dispel the notion that the economy is in serious jeopardy of tipping back into recession.

The numbers, which included a report showing that consumer confidence has fallen this month to its lowest level in more than 10 years, are a reflection of the head winds created by the Iraqi crisis and soaring energy bills.

Continued.

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Legislation to Curb Bankruptcy Filings Moving Again in Congress

posted by NYC on Tuesday March 04, @04:46PM

From Tampa Bay Online:

Legislation to Curb Bankruptcy Filings Moving Again in Congress

By Marcy Gordon, The Associated Press

Published: Mar 4, 2003

WASHINGTON (AP) - Legislation to make it tougher for people to dissolve their debts in bankruptcy court, which barely failed last year, is moving again in Congress.

Banks, credit card companies and retailers have pushed for the legislation since 1997. The record pace of new personal bankruptcies in 2002 is expected to continue this year in a weak economy.

Lawmakers of both parties - and President Bush - support an overhaul of the federal bankruptcy laws. Consumer and civil rights groups and unions oppose it, contending it is unfair to low-income working people and would remove a financial safety net for those who have lost their jobs or pile up onerous medical bills.

Continued.

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