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The city of Los Angeles fired a shot across the bow of big banks today. In response to US Bancorp’s lack of upkeep on its 1,500 foreclosed properties in the city, City Attorney Carmen Trutanich announced today that LA will sue, calling on banks to “step up and do the right thing" for the community. From Reuters:
The EPA released finalized fuel efficiency (CAFE) standards today that will increase fuel economy to 54.5 miles per gallon for cars and light-duty trucks by 2025. In the accompanying press release, the Obama Administration noted that the new standards will save consumers more than $1.7 trillion at the gas pump and reduce U.S. oil consumption by 12 billion barrels.
The EPA released finalized fuel efficiency (CAFE) standards today that will increase fuel economy to 54.5 miles per gallon for cars and light-duty trucks by 2025. In the accompanying press release, the Obama Administration noted that the new standards will save consumers more than $1.7 trillion at the gas pump and reduce U.S. oil consumption by 12 billion barrels.
One of the scariest moments of the 2008 financial crisis was the run on money market funds. It was a moment when, suddenly, many regular investors feared that their own cash could disappear into thin air -- along with the billions going poof at big firms like Lehman Brothers and Merrill Lynch.
There is such hysteria about the problems facing Social Security, that it's easy to forget a simple fact: Much of the program's shortfalls in future years will go away if we just raise payroll taxes. And, as it turns out, that solution is more popular with the public than cutting benefits.
This is the finding of a new AP/GfK poll released yesterday.
The ugliest presidential campaign I ever hope to see was the one George H.W. Bush waged against Michael Dukakis in 1988. Poppy Bush governed like a (relative) moderate, but in 1988 he campaigned like a hard-right bigot, relentlessly attacking Dukakis over an assault-rape committed by the convicted murderer Willie Horton, a very scary-looking African American, during a prison furlough (under a program created by Dukakis's Republican predecessor as Massachusetts governor). Say what you will about 41’s son and eventual successor, George W.
Camden, New Jersey, can't seem to catch a break. Fox News, of all outlets, broke the news yesterday that the city of Camden will disband its police department and transfer half the officers to a new non-union division. The move comes at the tail end of a long fight over workers salaries culminating in the city's action.
It's not often that we get a detailed look inside the tax strategies of a private equity firm, so Gawker's publication of a trove of documents related to Bain Capital is a welcome event.
The documents show -- once again -- how sophisticated business people have myriad ways to avoid taxes -- and, in the case of Bain anyway, will readily skirt or break the law.