This is very different than a CD, which comes from a bank with Federal Deposit Insurance Corp. protection up to $250,000. And it's different than a U.S. Treasury bond, backed entirely by the U.S. government.
Rob Brunhild trusted his broker when he was sold principal-protected notes underwritten by Lehman Brothers, noting that the broker implied that the notes were like Treasuries. His expectations for a solid return were dashed when Lehman went under, wiping out his investment. He said his family lost $275,000 on the notes.
“I had to tell my mother,” Brunhild said. “Mom lived off of this money.”
But a national debt of more than $14 trillion makes us vulnerable because our economy is the wellspring of our military might, as well as the happiness and self-confidence of a fully employed people.
The state attorney general wants federal regulators to take enforcement action against the Indian Point nuclear plant for what he called the company's failure to comply with fire safety requirements.
"In the wake of Japan's crisis, our country's nuclear facilities should be bolstering their safety measures, yet Indian Point is looking to weaken its precautionary measures," Attorney General Eric Schneiderman said Monday.
With another stroke of his pen, President Obama can authorize an Executive Order mandating paid sick leave for the same federally contracted workers whom he just gave a raise to.
The state-appointed Detroit Emergency Manager has commenced a program of shutting off the water of a large portion of the 138,000 delinquent accounts, up to 90,000 of which are poor households and largely African-American.
Embedded gender and racial discrimination and lack of bargaining power are major causes of not only low pay for home health care aides but for many of the country’s low-wage, fast-growing occupations.
Workers at many of the nation’s largest and most profitable employers struggle to get enough work hours (and sufficiently stable hours) to make ends meet, making fair scheduling as important as raising wages for millions of workers.
President Obama should sign a Good Jobs executive order to encourage contractors to improve workplace benefits and respect their employees’ rights to bargain collectively.
As early as today, the Republican leadership in the U.S. House of Representatives will be bringing H.R. 4078, the so-called “Red Tape Reduction and Small Business Job Creation Act” up for a vote. Like so much of what passes for legislation in Congress these days, this legislation is more a statement of philosophy than a thought out piece of policy.
Work as a hotel housekeeper isn’t an easy job under any circumstances. For more than 400,000 predominantly female and immigrant workers, the work means lifting heavy mattresses, stretching to clean high surfaces, and often scrubbing bathroom floors on hands and knees. Full-time workers earn just $21,000 a year, on average.
ALBANY — Cleanup of hard-hit areas in New York from Tropical Storm Irene is expected to take months because roads and bridges have to be rebuilt, farms restored and infrastructure reconstructed.
While experts say the flooding was impossible to prevent, the storm that ravaged upstate wasn't initially expected because most of the original focus was on New York City and its suburbs, which ultimately didn't get hit as badly as rural areas.
Sen.
The public is overwhelmed by budget deficits, shrinking public supports, and the inability of its government to compromise. In this climate, so-called minority issues seem like a distraction. But black and Latino men between the ages of 16 and 24 are profoundly more likely to be poor than whites, more likely to be unemployed or the victims of violent crime, and less likely to graduate from high school.