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Economy

Democracy Now! stories, posts and pages that relate to U.S. Economy

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    During the GOP primary, Mitt Romney has come under fierce attack for parking millions of dollars of his personal wealth in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven. We speak with Tax Justice Network USA chair Jack Blum, a former top congressional investigator of financial crimes, who says tax evasion could seriously cripple the already struggling economy. Blum appears in "We’re Not Broke,"...
    January 24, 2012 | Story
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    As Republican presidential candidate Mitt Romney comes under fire in New Hampshire for touting his business experience, we look at how his private equity firm, Bain Capital, drove a Kansas City steel plant into bankruptcy, leading to some 750 layoffs and a federal bailout. Bain still walked away with millions of dollars in profits. We speak with Reuters reporter Andy Sullivan, who covered the story, and with Joe Soptic, a steelworker who lost...
    January 10, 2012 | Story
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    Occupy New Hampshire activist Mark Provost made national headlines Wednesday when he attended a town-hall meeting hosted by Republican presidential candidate Mitt Romney and asked about his past comment that "corporations are people." Provost’s question to Romney came as Occupy New Hampshire is preparing for a series of events leading up to the state’s Republican primary to highlight the disproportionate impact...
    January 06, 2012 | Story
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    A fight over workers’ right to unionize erupted in Indiana on Wednesday as Democratic state representatives stayed away from the House floor, depriving the Republican majority of a quorum needed to push through a measure that would prohibit union contracts at private sector workplaces from requiring workers to pay dues or other fees to a union. If enacted, it could give new momentum to legislators who have previously pushed such measures...
    January 05, 2012 | Story
  • As the Occupy Wall Street movement continues to protest record levels of wealth and income inequality, we turn to an author who says the U.S. economy might be becoming more democratic. Gar Alperovitz argues in an op-ed in today’s New York Times that we may be in the midst of a profound transition toward an economy characterized by more democratic structures of ownership. Alperovitz finds that 130 million Americans are members of some...
    December 15, 2011 | Story
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    Former New Jersey governor and U.S. senator, Jon Corzine, testified Tuesday on Capitol Hill about his brief stint at the helm of the failed commodities and derivatives brokerage house MF Global, which in October became the largest failure on Wall Street since the collapse of Lehman Brothers in 2008. After MF Global went bankrupt, regulators discovered that up to $1.2 billion in customer funds that should have been kept segregated were missing....
    December 14, 2011 | Story
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    A new political party has entered the fray as an alternative to Democrats and Republicans ahead of the 2012 elections. On Monday, former Salt Lake City Mayor Rocky Anderson announced he will run for president with the newly formed Justice Party. Although hailing from a solidly red state, Anderson has been known as one of the most progressive mayors of any major U.S. city in recent years. During his two mayoral terms from 2000 to 2008, Anderson...
    December 13, 2011 | Story
  • Ows_occupy_ports_west_coast
    The Occupy Wall Street movement moved from the streets to the docks on Monday with a series of actions along the West Coast, including San Diego, Long Beach, Los Angeles, Oakland, San Diego, Portland, Tacoma, Longview, Seattle, Bellingham, Anchorage and Vancouver. Many actions led to confrontations with police, resulting in scores of arrests, and in some cases, the use of pepper spray and flash grenades on demonstrators. Several ports were...
    December 13, 2011 | Story
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    Some 1,000 police officers raided the Occupy Los Angeles encampment in a park outside City Hall overnight, arresting scores of people and evicting what has been the largest Occupy camp in the country. Meanwhile, Occupy Philadelphia protesters vacated their encampment this morning after more than a thousand police moved in and warned them of mass arrests. We get eyewitness updates on both raids from National Lawyers Guild legal observer Ken...
    November 30, 2011 | Story
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    How does the Occupy Wall Street movement move from "the outrage phase" to the "hope phase," and imagine a new economic model? In a Democracy Now! special broadcast, we bring you excerpts from a recent event that examined this question and much more. "Occupy Everywhere: On the New Politics and Possibilities of the Movement Against Corporate Power," a panel discussion hosted by The Nation magazine and The New School...
    November 25, 2011 | Story