Blog: Bank bonuses
This week, after four years of litigation, investors in Citigroup had their day in court, winning a settlement of $730 million in their class action suit brought in federal court in Manhattan. The investors claimed they had been “misled” by the big bank’s disclosures during the years 2006-2008, that is, the period leading up to the financial crisis. (These were the years in which Jack Lew, now Treasury Secretary, was a top...
Now that the boom times have returned for Wall Street with consecutive days of record market highs, the time for excuses must end, and the Obama administration and Congress should join with the other world markets in adopting a Robin Hood tax on financial speculation.
The signs could not be more clear. The New York Times, March 3, calls this a “...
The Christmas season’s consumer spending and gift-giving frenzy all evolved from the story of Jesus’ birth, which, according to St. Luke, began with Mary and Joseph traveling to Bethlehem to register so they could pay their taxes: "[T]"here went out a decree from Caesar Augustus, that all the world should be taxed ."(Luke 2:1) Perhaps it is fitting that at this time of year, as we prepare again to commemorate the birth of Jesus, that...
