Socialize Finance | Jacobin

“The probability that two randomly selected firms in the same industry from the S&P 1500 have a common shareholder with at least 5% stakes in both firms increased from less than 20% in 1999 to around 90% in 2014.” – Socialize Finance | Jacobin

The Secret Shame of Middle-Class Americans Living Paycheck to Paycheck

“The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all.” – The Secret Shame of Middle-Class Americans Living Paycheck to… Continue reading The Secret Shame of Middle-Class Americans Living Paycheck to Paycheck

Eric Holder testifying to congress and quoted in The Financial Crisis: Why Have No High-Level Executives Been Prosecuted? by Jed S. Rakoff

“It does become difficult for us to prosecute them when we are hit with indications that if you do prosecute—if you do bring a criminal charge—it will have a negative impact on the national economy, perhaps even the world economy.” – Eric Holder testifying to congress and quoted in The Financial Crisis: Why Have No… Continue reading Eric Holder testifying to congress and quoted in The Financial Crisis: Why Have No High-Level Executives Been Prosecuted? by Jed S. Rakoff