Quietly Thinking Out Loud
Just one guy thinking out loud on the issues in religion, atheism, politics & science.
The US president-elect, Donald Trump, campaigned in part on a proposal to cut taxes dramatically for those with high incomes, a group whose members often have elite educations as well. And yet his most enthusiastic support tended to come from those with average and stagnating incomes and low levels of education.
American Nobel Laureate, economist, academic, and best-selling author Robert Schiller writing this past summer on one of the biggest economic risks we face today that is only a growing problem not one we have in any way addressed.
Economic inequality is already a concern, but it could become a nightmare in the decades ahead, and I fear that we are not well equipped to deal with it. Truly extreme gaps in income and wealth could arise from many causes.
Donald Trump’s choice for treasury secretary, Steven Mnuchin, earned tens of millions of dollars from a 2015 bank sale that got a boost from an array of nonprofit groups that had one thing in common – they had received tens of thousands of dollars each from the bank’s foundation, which was run by Mnuchin.
The new CEO of Wells Fargo has a long wish list – not of things he wants to do for his customers, but of financial rules he’d like to see rolled back under the new Administration. That’s right: fresh off of defrauding tens of thousands of customers out of millions in fees – and making a big show of wanting to do better for its customers – Wells Fargo is hoping Congress and the regulatory agencies weaken the rules that were put in place to stop another financial crisis.
If we’ve learned one thing since the 2008 crisis, it’s that big banks like Wells Fargo have no shame. No matter how much they hurt their investors or their customers with their fraudulent behavior, the big banks and their armies of lobbyists and lawyers will be prowling the halls of Congress looking for every possible way to roll back critical financial rules and pad their pockets. We know the big bank onslaught is coming – and it’s up to all of us to stand up and fight back.
Tim Sloan, who became CEO after a firestorm of criticism forced previous boss John Stumpf to retire abruptly, spoke at length on Tuesday at an industry conference about the laundry list of regulations he’d like to ditch. Asked for “one or two” regulatory changes President-elect Donald Trump should focus on, Sloan said he could go on for over an hour on the topic.
We’ve heard from hundreds of Obamacare enrollees. Today we’re launching an online community for them.
smithsonian.com Few people would approach a complete stranger on the street for information about the pressing issues of the day, and yet that is just how many behave on the internet. In the wake of the 2016 election, reporting from Buzzfeed and other outlets has made it increasingly clear that the American voter is woefully lacking in the skills needed to judge the veracity of a news website.