Daily Digest - October 1: State Law Puts Profits Ahead of Primary Education

Oct 1, 2014Rachel Goldfarb

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Arkansas Internet Law Gouges Schoolkids (Bloomberg View)

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Arkansas Internet Law Gouges Schoolkids (Bloomberg View)

Roosevelt Institute Fellow Susan Crawford says support for the current law, which prohibits Arkansas from connecting K-12 schools to its high-speed fiber network, puts telecoms' profits ahead of kids.

Long-Term Jobless Perfectly Employable, New Report Finds (WSJ)

Pedro da Costa looks at a new study from the Economic Policy Institute, which says that while any unemployment creates serious setbacks, long-term unemployment doesn't create special skill loss.

The Hole in Holder’s Legacy (NYT)

Eric Holder had some real successes as Attorney General, but his efforts to prosecute the crimes of the financial crisis were "notoriously laggard," writes Joe Nocera.

The A.I.G. Trial Is a Comedy (New Yorker)

John Cassidy asks why this case, in which former American International Group CEO Hank Greenberg claims the company's bailout violated the Constitution, was even allowed to get to trial.

Prison Bankers Cash in on Captive Customers (Center for Public Integrity)

Daniel Wagner reports on how financial services companies profit off the families of prison inmates, who use these high-fee services so their relatives can buy basics like warm winter clothing.

Trust Is Waning, and Inequality May Be to Blame (Pacific Standard)

A new study examining what circumstances impact people's trust in institutions and one another finds that trust in other people drops as inequality rises, writes Nathan Collins.

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Daily Digest - September 30: Incarceration Keeps Growing, No Matter the Cost

Sep 30, 2014Rachel Goldfarb

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The Score: Why Prisons Thrive Even When Budgets Shrink (The Nation)

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The Score: Why Prisons Thrive Even When Budgets Shrink (The Nation)

Roosevelt Institute Fellow Mike Konczal and Bryce Covert look at the growth of incarceration even in times when presidents preach against "big government," which the prison system certainly is.

Europe’s Austerity Zombies (Project Syndicate)

Roosevelt Institute Chief Economist Joseph Stiglitz says that European countries' continued push for austerity, which isn't fixing their economies, is tragic in light of the people who suffer without work.

Revisiting the Lehman Brothers Bailout That Never Was (NYT)

James B. Stewart and Peter Eavis report on previously unknown analysis from the New York Federal Reserve suggesting that the Fed could bail out Lehman Brothers. The analysis never reached top officials.

It’s the Inequality, Stupid (In These Times)

Emphasizing inequality is the best chance that Democrats have of engaging working-class voters who swing elections, writes David Moberg.

New York Mayor de Blasio Plans Expansion of Living Wage (Reuters)

De Blasio plans to sign an executive order that will expand the law to cover an additional 18,000 jobs and increase the living wage to $13.13 for workers without benefits, writes Alex Dobuzinskis.

California Pension Fund Gives the Boot to Hedge Funds (AJAM)

Dean Baker praises California's public pension fund for ending investments in hedge funds, which charge high fees. He says that funds should make the contracts that lay out these fees public.

Killing the "Nuclear Option" Will Not Save the Senate. It Will Ruin Obama's Final Two Years. (TNR)

When Senate Republicans say that they want to revoke the Democrats' "nuclear option," which eliminated filibusters on presidential appointments, they're planning a blockade, writes Brian Beutler.

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Daily Digest - September 29: Local Investing for Local Community Growth

Sep 29, 2014Rachel Goldfarb

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GWU Students Tackling Income Inequality in Their Own Backyard (USA Today)

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GWU Students Tackling Income Inequality in Their Own Backyard (USA Today)

Campus Network Northeast Regional Coordinator Areeba Kamal profiles the George Washington University chapter's Bank on DC initiative, which asks the university to invest at least $250,000 in a community development bank.

Failing the Midterms (In These Times)

Chris Lehmann considers why the Democrats lack a solid midterm agenda. Roosevelt Institute Senior Fellow Tom Ferguson places the blame on the power of wealthy donors in finance and Silicon Valley.

Inside the New York Fed: Secret Recordings and a Culture Clash (ProPublica/This American Life)

Jake Bernstein reports on recording made by a New York Federal Reserve bank examiner embedded at Goldman Sachs, which show the Fed's reluctance to take risks and push back on the banks.

Goldman Bans Employee Stock Trading Following “This American Life” Broadcast (Buzzfeed)

Matthew Zeitlin reports on Goldman's new policies, which appear to respond to concerns about conflict of interest policies raised in the ProPublica/This American Life report.

Bad Tech Helped Banks Screw Homeowners (Medium)

By choosing not to update their technology, mortgage servicers have an easier time covering up the illegal foreclosures that boost their profits, writes Alexis Goldstein.

Obamacare’s Good News Week (MSNBC)

Suzy Khimm highlights new evidence of the Affordable Care Act's success, including hospitals in states that expanded Medicaid seeing fewer uninsured patients, which reduces costs.

New on Next New Deal

Democracy, Economic Crisis, and “Rethinking Communities”

Roosevelt Institute Fellow Sabeel Rahman looks at the Campus Network's Rethinking Communities initiative as a successor to post-Gilded Age reforms, focusing on local power and participatory democracy.

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Daily Digest - September 26: How to Fail at Prosecuting Banks Without Really Trying

Sep 26, 2014Tim Price

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The Blotch on Eric Holder's Record: Wall Street Accountability (The Nation)

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The Blotch on Eric Holder's Record: Wall Street Accountability (The Nation)

While the departing Attorney General would prefer to focus on his civil rights legacy, George Zornick notes how little Holder's Justice Department has done to punish the architects of the financial crisis.

For Oil and Gas Companies, Rigging Seems to Involve Wages, Too (ProPublica)

The Labor Department has identified hundreds of cases of oil and gas workers being cheated out of their earnings, writes Naveena Sadasivam, who also cites Roosevelt Institute Fellow Annette Bernhardt.

Coming Out at Work (Slate)

Radical salary transparency promotes trust and cohesion in the workplace and makes it easier for employees to tell whether or not they're being treated fairly, writes Jordan Weissmann.

How the 0.00003 Percent Lives (NY Mag)

Annie Lowrey looks at a new study that reveals the typical billionaire to be an aging Wall Street banker and Ivy League patron who's planning to pass down his wealth to his children and grandchildren.

The Show-Off Society (NYT)

It's no use scolding the super-rich for flaunting what they have, writes Paul Krugman. Reducing inequality and bringing the privileged back down to earth is a policy choice we have to make.

Quantifying Americans' Distrust of Corporations (The Atlantic)

Surveys show that only 36 percent of Americans view corporations as a source of hope, whereas 84 percent of the Chinese public views them positively, reports Bourree Lam.

New on Next New Deal

What Ken Burns's Documentary About the Roosevelts Can Teach Us About Our Past and Ourselves

Roosevelt Institute Senior Fellow David Woolner, who was a historical adviser for The Roosevelts: An Intimate History, says the film shows how Franklin and Eleanor Roosevelt saved free enterprise in the U.S.

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Daily Digest - September 25: Economic Progress Starts With Corporate Reform

Sep 25, 2014Tim Price

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America's Dark Economic Secret: How a Giant Gimmick Has Wages and Jobs Hanging by a Thread (Salon)

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America's Dark Economic Secret: How a Giant Gimmick Has Wages and Jobs Hanging by a Thread (Salon)

Tax-dodging techniques like inversions have turned all corporations into financial firms focused on moving their money around so that the government can't get to it, writes David Dayen.

Germany's Major Export: Economic Optimism (WaPo)

Corporate structures that balance the interests of shareholders and workers may explain why Germans feel better about their economy than other westerners, writes Harold Meyerson.

  • Roosevelt Take: Fellow Susan Holmberg and Mark Schmitt write about why we need to rethink the nature of corporations in Democracy Journal.

The Rich Are Getting Richer, Part the Millionth (MoJo)

The numbers don't lie, writes Kevin Drum: the rich have been soaking up a larger and larger share of economic expansions since the 1950s, including 95 percent of income growth since 2009.

Yes, Tipping Sucks. But You Still Have to Do It. (The Nation)

Pushing companies like Marriott to raise wages is a worthy cause, writes Bryce Covert, but refusing to tip will only hurt low-income workers, many of whom already live in poverty.

17 Numbers That Will Make You Realize Just How Pathetic the Federal Minimum Wage Is (HuffPost)

Claims that raising the minimum wage would destroy the economy sound even more dubious when considering how low it is and how many workers depend on it, notes Nick Wing.

Miss a Payment? Good Luck Moving That Car (NYT)

Michael Corkery and Jessica Silver-Greenberg report on the latest innovation in terrorizing debtors: devices that allow subprime auto lenders to track and remotely disable cars.

New on Next New Deal

Georgia Political Candidates: Where Are Carbon Emissions In Your Election Platform?

A new EPA rule requires Georgia to reduce carbon emissions by 44 percent by 2040, writes Campus Network Senior Fellow Torre LaVelle, but the state's would-be leaders are ignoring the issue.

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Daily Digest - September 24: Students on Food Stamps Need Somewhere to Spend Them

Sep 24, 2014Rachel Goldfarb

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On Campus (HuffPost Live)

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On Campus (HuffPost Live)

Caitlyn Becker speaks to Yvonne Montoya, President of the Santa Monica College chapter of the Campus Network, about her chapter's work to get food stamps accepted on campus. Her segment begins at 19:20.

New Deal Liberalism Lives On (WaPo)

Katrina vanden Heuvel, a member of the Roosevelt Institute's Board of Directors, says FDR-style liberalism is alive and well, pointing to leaders like Senator Elizabeth Warren and NYC's Mayor Bill de Blasio.

CEOs Get Paid Too Much, According to Pretty Much Everyone in the World (HBR)

Gretchen Gavett looks at new research on what people think the CEO pay gap should ideally be. Whether respondents felt strongly about CEO pay or not, their ideal ratios were very similar.

Fed Said to Warn Banks on Capital Charges on Leveraged Loans (Bloomberg News)

Craig Torres and Christine Idzelis report on increased Federal Reserve scrutiny of loans that lack stricter requirements that protect lenders. Earlier guidance hasn't slowed lending.

America Out of Whack (NYT)

Thomas Edsall asks a number of economists why, when the U.S. economy is growing so well, we haven't managed to ensure that some of the wealth is distributed to the lower and middle classes.

The Recovery That Left Out Almost Everybody (WSJ)

William Galston says the U.S. economy hasn't actually worked to improve the lives of average families since the end of the Clinton administration.

Now It’s Explicit: Fighting Inflation Is a War to Ensure That Real Wages for the Vast Majority Never Grow (Working Economics)

Josh Bivens looks at the discussion of a yet-unpublished paper from the Dallas Federal Reserve and points out that it essentially advises stopping progress on unemployment to limit inflation.

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Daily Digest - September 23: Even Wall Street Sees Inequality Holds Back the Economy

Sep 23, 2014Rachel Goldfarb

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Why Wall Street Cares About Inequality (WSJ)

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Why Wall Street Cares About Inequality (WSJ)

Major Wall Street institutions like Standard & Poor's and Morgan Stanley have put out reports on income inequality. Pedro Da Costa says it's because these companies see what's holding back the economy.

Treasury Announces Rules to Help Curb Benefits of Inversions (Buzzfeed)

The new rules will change how money transferred from foreign subsidiaries and U.S.-based parent companies is taxed, in order to reduce the advantages of inversion, writes Matthew Zeitlin.

The Politics of Pre-K: How A Program Known to Help Poor Mothers Could Doom Your Candidacy (TAP)

Rachel M. Cohen explains why the gubernatorial candidates in Pennsylvania will only talk about pre-K in terms of education, skipping any mention of working mothers or income inequality.

The GOP's Jobs Bill Will Create Few Jobs, But Plenty of Debt (TNR)

The $590 billion deficit increase from the bill's tax breaks proves to Danny Vinik that the GOP doesn't actually care about the deficit as much as it opposes increased government spending.

What Happens to Families on Housing Assistance When the Assistance Goes Away? (WaPo)

The cost of market-rate housing often erases the benefits of positive life changes that take people off housing assistance, writes Emily Badger, and more gradual assistance reductions are costly.

Those Lazy Jobless (NYT)

Paul Krugman says that John Boehner's repetition of the accusation that the unemployed just don't want to work proves that the "closed information loop of the modern right" is particularly effective.

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Daily Digest - September 22: Minimum Wage Boost Would Trickle Up for All

Sep 22, 2014Rachel Goldfarb

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Pay Pressure (Financial Times)

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Pay Pressure (Financial Times)

In a survey of economists about how to jump-start wage growth, Roosevelt Institute Chief Economist Joseph Stiglitz calls for fiscal stimulus, a minimum wage increase, and tax incentives for labor-intensive investment.

Holder Launches Historic Study on Police Bias (Melissa Harris-Perry)

As Saturday's guest host, Roosevelt Institute Fellow Dorian Warren speaks with the Director of the Center for Policing Equity about the significance of the Attorney General's new plan to reduce bias.

Paul Ryan May Have Found a Trick to Make His Tax Plan Add Up (TNR)

Danny Vinik explains how dynamic scoring will allow Rep. Ryan to claim that his tax reform plan is mathematically possible while remaining revenue-neutral.

Climate Change is War – and Wall Street is Winning (AJAM)

Nathan Schneider writes that corporate influence has been too strong in international discussions of how to fight climate change, and argues that our economic system must shift to save the planet.

Is Obama Going Easy On Banks That Break the Law? (In These Times)

David Sirota looks at the reduction of sanctions on Credit Suisse, and says that this action by the administion suggests that some financial institutions are being treated as above the law.

Why Poor Students Struggle (NYT)

For lower-income college students at elite universities, the academics aren't a problem, writes Vicki Madden, but the social differences between classes make life on campus difficult.

New on Next New Deal

Ken Burns’s New Documentary Reveals the Human Side of the Roosevelts – And Our Deep Connection To Their Legacy

Roosevelt Institute President and CEO Felicia Wong praises The Roosevelts for depicting these giants of progressive policy with a humanity that helps us understand why they pushed for change.

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Daily Digest - September 19: This Bus Doesn't Stop for Big Money

Sep 19, 2014Rachel Goldfarb

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Catholic Nuns Take On Dark Money In Politics With Nationwide Bus Tour (ThinkProgress)

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Catholic Nuns Take On Dark Money In Politics With Nationwide Bus Tour (ThinkProgress)

Sister Simone Campbell, the 2013 FDR Four Freedoms Awards laureate for Freedom of Worship, is leading a new Nuns on the Bus tour, this time focused on disenfranchised voters, writes Jack Jenkins.

Tenants Facing Eviction in Era of Skyrocketing Rents Need Legal Assistance (TAP)

Martha Bergmark emphasizes the need to support legal aid programs, noting that legal representation doubles tenants' chances of staying in their homes when fighting eviction.

Workers Deserve to Benefit from Their Productivity, Too (WaPo)

Harold Meyerson says newly proposed legislation from Rep. Chris Van Hollen that ties the performance pay tax deduction to workers' wage increases is necessary to ensure a fair deal for workers.

  • Roosevelt Take: Roosevelt Institute Fellow Susan Holmberg and Campus Network alumna Lydia Austin look at the broader problems with the performance pay provision in the tax code.

Does Silicon Valley Have a Contract-Worker Problem? (NY Mag)

Kevin Roose dives deep into the so-called "1099 Economy," in which start-ups have independent contractors galore, many of whom may legally qualify as employees.

Demonizing the Minimum Wage (New Yorker)

William Finnegan looks at the range of statements against raising the minimum wage, which consistently misrepresent minimum wage workers. They aren't just teenagers with after-school jobs.

New Republican Bill Would Paralyze National Labor Relations Board (In These Times)

Bruce Vail explains why and how the Republicans are aiming to gridlock the National Labor Relations Board, a goal that he says is primarily based in anti-union, anti-worker bias.

Tax Cuts Can Do More Harm Than Good (AJAM)

David Cay Johnston looks at a new report on tax cuts, which shows that short-term economic growth aside, badly structured tax cuts just push costs to the future and can incentivize bad investments.

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Daily Digest - September 18: The Hashtag of Democracy

Sep 18, 2014Rachel Goldfarb

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From #Ferguson to #OfficerFriendly (Bloomberg View)

Roosevelt Institute Fellow Susan Crawford explains what the New York Police Department will need to do in order to make its new social media initiatives successful.

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From #Ferguson to #OfficerFriendly (Bloomberg View)

Roosevelt Institute Fellow Susan Crawford explains what the New York Police Department will need to do in order to make its new social media initiatives successful.

Census Report Shows Rise in Full-Time Work, Undercutting Claims by Health Reform Opponents (Off the Charts)

Paul N. Van de Water says the Census Bureau report proves that the Affordable Care Act isn't leading to a large increase in part-time work. In fact, part-time work has decreased.

Fed Signals No Hurry to Raise Interest Rates (NYT)

Binyamin Appelbaum reports on the Federal Reserve's latest policy statement, which affirms the necessity of continued stimulus in the form of near-zero short-term interest rates.

What Cutting Jobless Benefits Wrought (U.S. News & World Report)

Pat Garofalo points to the cutting of federal extended unemployment benefits as one of the sources of our continually too-high poverty rate.

The Occupy Movement Takes on Student Debt (New Yorker)

Rolling Jubilee, which buys up debt and cancels it, may be among the Occupy movement's biggest successes, writes Vauhini Vara, but its real hope is for debtors to organize.

Meet the Domestic Worker Organizer Who Won the 'Genius' Grant (Bloomberg Businessweek)

Josh Eidelson profiles Ai-jen Poo, director of the National Domestic Workers Alliance, who plans to use her MacArthur "Genius Grant" to endow an organizing fellowship for domestic workers.

Want to Live in a State with No Income Tax? Make Sure You're Super Rich First (The Guardian)

Siri Srinivas looks at a new report on state-level taxes, which shows that most Americans think fair taxes should be progressive by nature, emphasizing income and property taxes over sales tax.

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