Daily Digest - July 17: Wall Street's Election Day Fears

Jul 17, 2013Rachel Goldfarb

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Why Spitzer’s Return Terrifies Big Finance (Naked Capitalism)

Roosevelt Institute Senior Fellow Thomas Ferguson argues that Eliot Spitzer as New York City Comptroller would be a threat to the political power of Wall Street. With control of the public pension funds, Spitzer could change how the city does business with the financial industry.

The Consumer Watchdog’s Work Will Last–For Now (MSNBC)

Adam Serwer speaks to Roosevelt Institute Fellow Mike Konczal on why the Senate GOP spent so long opposing Richard Cordray's nomination to direct the Consumer Finance Protection Bureau. Mike says they opposed any nominee, in an attempt to weaken the CFPB.

Reminder: Don’t Pay Attention to Wall Street’s Whines About Regulation (NY Mag)

Kevin Roose looks at Wall Street bank profits over the past ten years, and concludes that we should ignore their complaints about regulation. It turns out that the financial industry is resilient and will find a way to increase profits no matter the restrictions.

McJobs Are the Future: Why You Should Care What Fast Food Workers Earn (The Atlantic)

Jordan Weissmann refutes the claim that no one is making a career or supporting a family off a minimum wage fast food job. Most fast food jobs aren't minimum wage - but making another fifty cents per hour doesn't get a person above the poverty line.

OECD Doesn’t See Unemployment Falling Until Late 2014 (WSJ)

Paul Hannon reports that the Organization for Economic Cooperation and Development predicts that it will be some time before unemployment begins to drop. Like many others, it recommends avoiding austerity policies because they will slow growth.

Charles Koch on the Poor: Let Them Eat 'Economic Freedom' (The Nation)

Leslie Savan explains the problems with a new ad put out by Charles Koch that claims anyone making over $34,000 a year is part of the 1%. That's true on a global scale, but doesn't mean anything for people living in poverty in the U.S..

New on Next New Deal

Why Trayvon Is Inspiring America to Put Stand Your Ground Laws on Trial

Roosevelt Institute | Pipeline DC chapter Director of Programming Naomi Ahsan argues that the Zimmerman verdict is a sign that Americans need to challenge Stand Your Ground laws. Beyond the collective anger at that decision, these laws contribute to systemic racism.

The Egyptian Coup Isn't the End of Democracy. It's a Demand for Justice.

Former Roosevelt Institute | Campus Network Policy Director Reese Neader breaks down the current situation in Egypt. He explains why this is not the "death of democracy," but a push for better democracy than was achieved in 2011.

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