File: An ink stamp in the shape of a Facebook "LIKE" icon is used on a folded sheet of white paper. (Flickr / Denis Dervisevic)
03 Sep 2015

Your Facebook Friends Could Cost You A Loan

Welcome to the age of the social media credit check. On July 22nd, Facebook filed a new patent for a product the company could sell to creditors to analyze someone’s creditworthiness based on their social network.

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The exterior of AIG headquarters in New York City. (Wikimedia Commons / AIG Corporate)
02 Sep 2015

Treasury Department Claims Paulson Never Officially Discussed AIG Bailout

In August, the US Treasury Department responded to a 2013 Freedom of Information Act (FOIA) request for records of former Treasury Secretary Henry Paulson’s communications during the 2008 bailout of American International Group (AIG) by claiming that the agency could not find any records. Here’s how you can help us respond.

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1 Wall Street, the Bank of New York Buidling By Jim in Times Square (Flickr) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
01 Sep 2015

BNY Mellon Bank Settles Corruption Charges Over Hiring Foreign Officials’ Relatives

On August 18, the SEC announced that the Bank of New York Mellon Corporation (BNY Mellon) agreed to pay $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA), when the bank gave out highly sought-after student internships to the relatives of foreign government officials in

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Activists carry signs demanding fair wages and "jobs with justice" outside a Chicago-area Walmart at a Black Friday protest on November 28, 2014. Although the protests successfully put pressure on the company, gains by Walmart workers were short-lived as the corporation increased wages but cut worker hours. (Flickr / UFCW International Union)
31 Aug 2015

Walmart Increased Wages Only To Later Cut Hours

Late last year, in response to a series of strikes by workers and protests by activists, Walmart agreed to raise wages so that many of the company’s workers received at least a meager $9 an hour in 2015. Unfortunately, Walmart’s entire business model is based on severely exploiting workers in the US, so the order has now come down from Walmart executives to cut workers’ hours to lower company costs.

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An activist with the Fight For 15 minimum wage movement poses under the entrance to a McDonald's  restaurant on May 14, 2014. A new study shows CEO compensation grew in 2014, while workers continued to suffer with stagnant wages. (Flickr / Peopls World)
28 Aug 2015

CEO Compensation Jumped In 2014 As Workers Treaded Water

The pay for CEOs of public companies continued its upward climb in 2014 according to a report by The Conference Board, a business research organization. The report, published in August, claims that total compensation for chief executive officers of US public companies in the Russell 3000 Index rose up 11.9 % from 2013 and as much as 34.7 % from 2010.

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At a May 17, 2014 flashmob-style protest in Germany against the Transatlantic Trade and Investment Partnership international trade deal, two activists hold signs objecting to the TTIP's potential effects on data privacy and the deal's lack of transparency. (Flickr / campact)
27 Aug 2015

Big Tobacco TTIP Discussion Documents Censored By EU

Documents related to discussions between US, British and European officials and multinational tobacco corporations concerning the regulation of tobacco under a new trade agreement were censored by the European Commission. Activists with Corporate Europe Observatory revealed the meetings through a Freedom of Information request, but the documents were heavily edited.

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File: An American flag hangs in front of the entrance to the New York Stock Exchange in the Wall Street district of New York City. (Morguefile)
26 Aug 2015

Wall Street Laundering Derivatives Trades Through Europe To Avoid Dodd-Frank

As compromised as Congress is when it comes to dealing with their Wall Street donors, they have nothing on financial regulators who often end up later working for the people and companies they are supposed to be regulating. Now regulators are allowing Wall Street to hide derivatives trades overseas to circumvent Dodd-Frank.

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File: A keychain with several keys and metal charms attached. Heavy key chains could cause a defect in some General Motors' vehicles to shut off the engine, causing over 100 deaths according to the latest figures. (Morguefile)
25 Aug 2015

More Deaths Linked To General Motors’ Ignition Switches

A study by a consultant hired by GM has led to a nearly ten fold increase in the number of deaths linked to the faulty switches. The new estimate, released on August 21 by a consulting group led by famed attorney Kenneth Feinberg, puts the number of deaths from the defected ignition switches at 124. Previously, GM said it only knew of 13 deaths.

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File: A paper cup branded with the Coca-Cola logo sits on a ledge. (Flickr / Leo Hidalgo)
24 Aug 2015

Coca-Cola To Stop Funding Fake Health Studies, No Word On Union Killings

On August 19th, The Wall Street Journal published an op-ed by Coca-Cola CEO Muhtar Kent wherein Kent admitted that Coca-Cola funded scientific studies that attempted to shift blame for the growing obesity crisis off diet and onto exercise. Kent said the scheme to fund questionable studies was meant to take attention away from the beverage company he runs but was “not working” and that this behavior by Coca-Cola “does not reflect our intent or our values.”

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The entrance to a Merrill Lynch office in Dallas, photographed on April 26, 2010. (Flickr / Neff Conner)
21 Aug 2015

Banker Sentenced To Prison For TARP Fraud

Former Park Avenue Bank President Charles Antonucci has been sentenced to two and a half years in prison for his role in a scheme to defraud the Troubled Asset Relief Program (TARP). Antonucci will also pay $54.6 million in restitution and forfeit $11.2 million.

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