Toronto Erik Eckholm summarized the Census Bureau’s report in a clear but painful way: “With the country in its worst economic crisis since the Great Depression, four million additional Americans found themselves in poverty in 2009, with the total reaching 44 million, or one in seven residents. Millions more were surviving only because of expanded …
Category: Financial Justice
Freezing Private Sector Exec Pay
Toronto Sharing the pain is taking on a new meaning in Ontario, Canada’s biggest province, where there are 1 million public employees now enduring a proposed 2-year wage freeze as part of the Liberal party government anti-recessionary measures, and recently the Finance Minister publically agreed that some of these same wage controls should extend to …
New Program: More Bailout, More Drowning
New Orleans President Obama, Secretary Geithner, and the rest of the hapless pickup crew that flubs around in the housing and foreclosure crises came together to “repurpose” yet more of the TARP money that was set aside for home mortgage modifications that might prevent foreclosures and threw $15 billion of the total at some homeowners …