After the Great Recession, lawmakers promised that the reforms they instituted secured America’s banking sector. However, as long as the United States sticks to a predominately private banking sector — one that cannot operate counter-cyclically nor dedicate financing to social needs — that promise of long-term security is elusive.
Tag: Market Regulation
U.S. Senate passes $1.1 trillion, giveaway-stuffed “cromnibus” bill in late night vote
Earlier this evening, following in the footsteps of the House of Representatives, the United States Senate passed the massive appropriations bill that has become known as the CRomnibus, sending the legislation to President Barack Obama, who is prepared to sign it without delay. The final vote was fifty-six to forty; four senators did not vote. The […]
AT&T throws in the towel, abandons scheme to buy T‑Mobile from Deutsche Telekom
For once, federal regulators have done their job and stood up to Wall Street: AT&T said late on Monday afternoon that it had withdrawn its $39 billion takeover bid for T‑Mobile USA, acknowledging that it could not overcome opposition from the Obama administration to creating the nation’s biggest cellphone service provider. The company said in […]
I‑1183, if implemented, could generate $81 million plus in annual sales for Costco
Ever since Costco and its executives first started making noise about deregulating and privatizing our state’s liquor control system, it’s been apparent that their driving motivation for pushing privatization is because they want our state’s liquor stores’ business for themselves — not because they think “getting the state out of the liquor business” (which is […]
Washington’s minimum wage to rise to $9.04 an hour beginning in January
Washington State’s minimum wage will rise thirty-seven cents an hour to $9.04 beginning in January, the Department of Labor & Industries announced today. Initiative 688, which voters overwhelmingly passed in 1998, requires the Department of Labor & Industries to adjust the minimum wage annually to account for inflation. (I‑688, which NPI’s Steve Zemke was involved […]
U.S. Department of Justice files suit to block AT&T/T‑Mobile merger
This news may come as as a nasty shock to Wall Street (which is used to sweet-talking regulators into getting what it wants) but to us, it is a very pleasant and welcome surprise: The Department of Justice today filed a civil antitrust lawsuit to block AT&T Inc.’s proposed acquisition of T‑Mobile USA Inc. The […]
Costco to Washington State Legislature: “Have we got a deal for you…”
From: Costco To: Members, Washington State Legislature RE: Your financial troubles Dear lawmakers, As one of Washington’s largest publicly-traded companies, Costco feels an obligation to selflessly assist its state in weathering the ongoing fiscal storm that has had such a devastating impact on citizens and consumers alike. Last year the voters of our state rejected […]
AT&T swallows T‑Mobile in $39 billion deal
And then there were three: AT&T announced on Sunday that it has agreed to buy T‑Mobile USA from Deutsche Telekom for $39 billion in cash and stock, in one of the biggest mergers since the onset of the financial crisis. The deal will dramatically bolster AT&T’s footprint in the country, adding an additional 46.5 million […]