Posts Tagged ‘Bloomberg’
Wednesday, November 2nd, 2011
We’re all happy about the banks backing down from their new fees for customers, right? Bank of America decided to not charge customers the $5 fee to use their debit cards in places other than the bank. Big deal, now you have access to YOUR money. The change in the cold, cold corporate heart at B of A is considered a consumer win. But at what price?
While reversing the $5 fee made mainstream headlines, B of A, with approval and encouragement from the Federal Reserve (that exists by and for banks, not the U.S. government), moved $53 TRILLION of derivative contracts from the gambling reckless risk-taking side of the behemoth corporation (the bank holding company, investment house) to the retail consumer side Bank where funds are insured by the FDIC. That means that the massive losses by Merrill Lynch and the junk derivatives that had a Baa1 rating (the third lowest investment Moody grade) become overnight A2 rated because now the American taxpayers will cover the risk of these gambles failing. That’s you and me, the 99%-ers.
Sunday, May 30th, 2010
Updated June 2
The NY Senate passed S 1823B on May 12. Since then, there has been a flurry of opposition in the media, all by corporate apologists and chicken-little lawyers. Just to set the record straight. WBI addresses the distortions with links to the original articles. (more…)
Tags: Bloomberg, Healthy Work, Morahan, Needleman, NY Healthy Workplace Advocates, NY Senate, S1823B, Scott Greenfield, Victoria Pynchon
Posted in Healthy Workplace Bill (U.S. campaign) | 9 Archived Comments | Post A Comment (
Saturday, May 15th, 2010
The hysteria heard from the business community suggests how much momentum the WBI Legislative Campaign has been gaining since the first bill was introduced in 2003 in California. On May 12, the NY Senate passed the anti-bullying Healthy Workplace Bill (S 1823B) (read the recently posted story below). On May 14, the Wall Street Journal interviewed opponents of the bill — including NYC Mayor Bloomberg and Assemblywoman Susan John who chairs the Labor committee that must pass it before an Assembly floor vote can be taken. Read the article and please write a comment to counter the silliness. By the way, the voices of opposition are parroting the tired, untruthful Chamber of Commerce mantra: “don’t help employees because it will hurt business and helping business is the lawmakers’ most important job.”