Robert Oak's blog

There Goes Detroit!

Detroit just filed for bankruptcy.  This is the largest city bankruptcy in U.S. history and much of it has to do with the banks.

Legions have fled Detroit over the last decade.

Detroit lost a quarter-million residents between 2000 and 2010. A population that in the 1950s reached 1.8 million is struggling to stay above 700,000. Much of the middle-class and scores of businesses also have fled Detroit, taking their tax dollars with them.

Friday Movie Night - Frontline: Two American Families

We fill our lives with media.  Day in and day out the screens and voices spin a tall fictional tale of Americans with good jobs, houses, cars, educational opportunities and money.  Frontline brings home the real America, the one we don't want to face.  Gone is the American Dream, replaced with foreclosures, food stamps and work that doesn't pay enough to even make the most modest rent.  The new America is a wasteland of broken dreams, broken promises and broken people working themselves into the ground and still not even getting by.

Time to Kill The Immigration Bill

As expected, the Senate betrayed workers everywhere and passed the corporate cheap labor laden immigration bill and now lobbyists are pushing it to pass the House before voters can react in 2014.  America's workers only hope now lies with Republicans, not exactly known for their labor friendly agenda.  The situation is bleak.  Even the AFL-CIO has sold out U.S. technical workers as well as low wage workers and endorsed the Senate bill.

Corzine Gets Sued!

Just when you think they all got completely away with it, along comes one government regulator, the CFTC.  The U.S. Commodity Futures Trading Commission issued a settlement with MF Global.   The firm settlement consisted of full restitution of the $1 billion customer money lost plus a $100 million fine.  Yet the CFTC also filed civil charges against former CEO Jon Corzine along with another MF Global executive, Edith O'Brien.

BIS Says Party Over for Quantitative Easing

The Bank for International Settlements has demanded Central Banks stop their quantitative easing in hopes of a global economic recovery.  All that has happened is a stock market love affair while the real economy languishes.  BIS has issued their annual report demanding nations deleverage, which is codespeak for austerity.

Prepaid and Payroll Cards Get a Lawsuit

Every day we have outrage after outrage against the U.S. worker and middle class.  There is so much economic injustice, it's hard to keep up.  Yet some stories are so outrageous you'll swear out loud and scare the dog.  Such is the story of McDonald's workers being paid by debit cards instead of checks, forced to do so.  An McDonald's ex-employee just sued over it:

Outrageous Economic Shorts - Labor Be Damned

Welcome to our round up of economic shorts.  These are the latest outrages that caught our eye which you might have missed.  Probably the biggest disaster happening today is the Senate pushing forward with a corporate written cheap labor immigration bill regardless of the negative impact this will have on jobs and the economy.

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