By Shan Li
Sen. Elizabeth Warren (D-Mass.) wants to know: How much money do banks have to launder to get charged with a crime?
In a Senate Banking Committee hearing Thursday, Warren asked financial regulators why officials from banks weren't prosecuted even after confessing to extensive money laundering.
Specifically, she asked why British bank HSBC -- which was fined $1.92 billion after admitting to moving millions of dollars around for drug cartels, terrorist organizations and regimes such as Iran -- avoided prosecution.Read more »
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By Robert Reich, Robert Reich's Blog
Today the Dow Jones Industrial Average rose above 14,270 - completely erasing its 54 percent loss between 2007 and 2009.
The stock market is basically back to where it was in 2000, while corporate earnings have doubled since then.
Yet the real median wage is now 8 percent below what it was in 2000, and unemployment remains sky-high.
Why is the stock market doing so well, while most Americans are doing so poorly? Four reasons:Read more »
WASHINGTON (AP) — The amount of heat-trapping carbon dioxide in the air jumped dramatically in 2012, making it very unlikely that global warming can be limited to another 2 degrees as many global leaders have hoped, new federal figures show.
Scientists say the rise in CO2 reflects the world’s economy revving up and burning more fossil fuels, especially in China.Read more »
By Robert Redford.Read more »
By Lisa Garber, NaturalSociety
We know fracking isn't exactly the safest of practices. We've heard of its propensity to pollute our air and drinking water and thereby raise human health concerns. The media, however, isn't talking about the massive sinkholes pockmarking the nation, the radiation leaks, and other lesser known but no less earth-shattering effects of fracking.
Here are 5 other consequences of fracking you may not have heard of until now.
1. Methane-Spewing GeysersRead more »
By Robert Reich, Robert Reich's Blog
Imagine a plot to undermine the government of the United States, to destroy much of its capacity to do the public's business, and to sow distrust among the population.
Imagine further that the plotters infiltrate Congress and state governments, reshape their districts to give them disproportionate influence in Washington, and use the media to spread big lies about the government.
Finally, imagine they not only paralyze the government but are on the verge of dismantling pieces of it.Read more »
The Donna Karan New York gown worn by Barbra Streisand in her performance at the 85th Annual Academy awards was designed by Ms. Karan, specifically for the artist. Entitled 'City Lights' the black asymmetrical, bias-cut dress is a waterfall of chiffon layers encrusted with matte gold sequins and beads. A long sleeve capelet adds the final layer of chiffon, its back dramatically falling to the floor.Read more »
By Ian Millhiser, ThinkProgress
A bill introduced by Montana state Rep. Steve Lavin would give corporations the right to vote in municipal elections:
Provision for vote by corporate property owner. (1) Subject to subsection (2), if a firm, partnership, company, or corporation owns real property within the municipality, the president, vice president, secretary, or other designee of the entity is eligible to vote in a municipal election as provided in [section 1].Read more »
By PAUL KRUGMAN
President Obama laid out a number of good ideas in his State of the Union address. Unfortunately, almost all of them would require spending money — and given Republican control of the House of Representatives, it’s hard to imagine that happening.
One major proposal, however, wouldn’t involve budget outlays: the president’s call for a rise in the minimum wage from $7.25 an hour to $9, with subsequent increases in line with inflation. The question we need to ask is: Would this be good policy? And the answer, perhaps surprisingly, is a clear yes.Read more »
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