During an appearance on CNBC yesterday, Charlie Munger, deputy to billionaire investor Warren Buffett, had some harsh words for high-frequency trading, the practice used by huge financial firms to trade stocks in milliseconds. “Take the rapid trading by the computer geniuses with the computer algorithms,” said Munger. “Those people have all the social utility of a bunch of rats admitted to a granary.”
It's time to ensure that workers, no matter what their immigration status, have the same rights, and that their status isn't used an excuse to justify abusive behavior.
In the aftermath of the financial crisis, plenty of Americans have seen their credit scores tank. But can that really affect your ability to get a job? Yes, because employers increasingly are relying on workers' credit histories in screening applications.
This Explainer explores how the Gross Domestic Product (GDP) is used in measuring our economic growth and whether alternative measures are also needed to provide a more comprehensive outlook of economic progress.
Using political power to keep employees from organizing unions can be highly effective. That’s one forceful lesson to draw from the new figures on union membership.
US labor markets ended 2012 with a whimper, as Friday’s release of the December unemployment numbers showed all major indicators essentially unchanged.
New York -- In response to the late night passage of a tax deal by the US House of Representatives, Miles Rapoport, president of the national nonpartisan public policy organization Demos released the following statement:
"It is in the nature of a complicated bipartisan agreement that it looks very different depending on what prism you look at it through. Two elements are critically important: what is actually in the bill that passed and the President will sign, and how its passage ‘sets up’ the future fiscal debates.
Though technology and innovation have squeezed trading costs, the industry's profits are accounting for a bigger share of U.S. GDP, a former Goldman banker says, needlessly diverting some $635 bln from the broader economy. It lends credence to ideas like a transaction tax.
Eric Scheiderman is leading a seven state coalition to bring suit against the EPA for failing to address methane emissions from the oil and gas industry -- a violation of the Clean Air Act.
The Coalition for Sensible Safeguards has produced a report detailing five areas in which protections significantly help make the December and New Year festivities a safer and more joyful experience.
Before the Great Recession, the financial sector had consistently been eating up a greater and greater share of the economy. In 2007, it accounted for a whopping 40 percent of corporate profits. Before 1950, the financial sector made up less than 3 percent of GDP; now it makes up more than 8 percent.
WASHINGTON (MarketWatch) — Massachusetts Senator-elect Elizabeth Warren is likely to focus her efforts on the Senate Banking Committee in areas that go far beyond her bread-and-butter expertise in consumer protection, analysts say.
NEW YORK -- The United States faces a retirement crisis that threatens future retirees and the next generation of workers. The voluntary employer-sponsored retirement system covers fewer and fewer Americans, often leaving Social Security, originally intended as a supplement to other forms of retirement, as the major source of income for 40 percent of older Americans. Even workers still covered by an employer retirement plan have had their benefits weakened.
It is really terrific to see retailers here giving critical attention to the Demos study. As a former business owner in the health services industry, I do realize that these problems are more than just abstract theory. That's one of the reasons why Demos and I thought it would be useful to evaluate the possibilities for adopting this business model across the retail sector, especially as the importance of retail to the US economy continues to grow.
“Black Friday” sales are debt traps for people to rush out and buy on credit.
But we can fix this on both the wage and profit ends of the continuum. It’s not that complex a fix, but it requires seeing our country as a whole, as one people who rise and fall together.
We can fix this whole mess and have something for which we could really give thanks, if we just paid workers a little more.