Sign up for email alerts, from breaking news to weekly commentary:
The word "glitch" apparently is derived from a Yiddish term meaning "a slippery place." We Texans know right where that place is: our governor's office
Gov. Rick Perry, a rather low-watt... [read more]
You'd think that Wall Street bankers – who have caused a national economic collapse and cost taxpayers $12 trillion just to keep banks in business – would be pariahs in Washington.
... [read more]
Well, they sure nailed Bernie Madoff, didn't they?
The 71-year-old Ponzi schemer was sentenced to 65 years in the federal pokey for fraud, 50 years for money laundering, 20 years for... [read more]
These are rough times. How rough, you ask? So rough that even the relative roughness of toilet tissue has arisen as a question of economic and political fairness.
This pressing issue... [read more]
Jack Welch, what a guy! The former-CEO of General Electric – who paid himself a fortune while slashing jobs and busting the wages of GE's workers – had an epiphany in 1995. Actually, what he... [read more]
No doubt you're going to feel terrible about this. Top executives of Goldman Sachs, the Wall Street powerhouse, are in a pout about how they're being treated by you and me — i.e., the public.
"Regulate the health insurance giants," chanted the reformers.
"Stop denying coverage to sick people," they demanded. "Stop jacking up premiums," they cried. "Health coverage for all," they bellowed.
It was an impressive show that the health care reform movement put on last week at a hearing before the Senate finance committee. It was especially impressive because those doing the chanting, demanding, crying and bellowing were not aggrieved outsiders, but the ultimate insiders — the health insurance giants themselves!
Remember the old folk song about a horse named Stewball? "Stewball was a race horse/ and I wish he were mine/ He never drank water/ He always drank wine."
Gosh,... [read more]
Sam Rayburn, a longtime speaker of the U.S. House, once said, "Every now and then, a politician ought to do something just because it's right."
Last week, 45 U.S. senators dodged an excellent chance to do just what Mr. Sam advised. At issue was a straightforward, common-sense amendment proposed by Dick Durbin, D-Ill. It would have allowed bankruptcy judges to help hundreds of thousands of financially strapped homeowners who now find themselves trapped by exploding, exorbitant interest rates that bankers had attached to their loans.
I'd like nothing more than to give the bailout scandal a rest — but the bankers won't let me! They just keep coming at us with ever-more-clever inventions of greed and deceit.
Their latest bit of hocus-pocus, accompanied by big puffs of smoke, is a dazzling show of profits. Yes, Goldman Sachs, Citigroup, Bank of America, JPMorgan Chase and other financial giants that only yesterday were insolvent basket cases now report that — poof! — in the first quarter of this year, they magically produced blockbuster profits. Absolutely A-mazing!