U.S. Economy

The Tax Battle : Opinion Brief
Democrats take a good hard look at Rep. Paul Ryan (R-WI)'s tax plan, and conclude that the only way the numbers work out is if middle class families are deprived of key deductions... and end up paying more.

Would the GOP raise taxes... on the middle class?

Republicans want to cut taxes, but won't say how they'll pay for the lost revenue. Democrats have numbers to show that the middle class will be forced to pony up

The U.S. Recovery : Opinion Brief
Major equity indexes on Wall Street fell throughout Ben Bernanke's 45-minute speech on Wednesday, in which he announced the Federal Reserve's modest extension of efforts to stimulate growth.

'Operation Twist': Should the Fed do more to jumpstart the economy?

The central bank extends a modest program designed to stimulate growth, causing many analysts to bemoan the lack of more robust action

Wall Street : The List
"No, we're not too big to fail," JPMorgan Chase CEO Jamie Dimon told a congressional panel on Tuesday, before qualifying, "I don't think there's any chance we're going to fail."

Jamie Dimon on the hot seat: 3 key moments from his House testimony

The head of JPMorgan Chase fends off attacks on Wall Street, and tries to dismiss concerns that his mega-bank is too big to fail

Wall Street : Opinion Brief
Former Goldman Sachs board member Rajat Gupta, who was found guilty Friday, is among the most prominent corporate executives convicted of insider trading.

Rajat Gupta's insider trading conviction: Will it curb Wall Street crime?

Gupta's fall from the top echelons of finance could reverberate throughout the industry, which is already coming under increased scrutiny from the feds

Wall Street : Opinion Brief
At times during Jamie Dimon's Senate hearing on Wednesday, the JPMorgan CEO aggressively criticized Congress' efforts at regulatory reform.

Did the Senate go too easy on Jamie Dimon?

The Wall Street titan was hauled before senators to answer questions about a massive trade gone awry — and smashed their softballs out of the park

Wall Street : The List
JPMorgan Chase chief Jamie Dimon says the bank's board will review every single person involved in the company's $2 billion trading loss.

'Dead wrong' Jamie Dimon: 4 takeaways from the banker's Senate testimony

The chief of banking giant JPMorgan Chase apologizes for a $2 billion trading loss, but adamantly insists that government regulation is not the answer

The U.S. Recovery : Opinion Brief
President Obama says an unstable Europe is a leading cause of America's stunted economic recovery.

Blame Europe: Obama's new economic excuse?

The president seems eager to point fingers, arguing that the euro debt crisis is one of the biggest headwinds facing the American economy

Bankrupt USA : By the numbers
A boy waves a flag during the annual Memorial Day Parade in New Canaan, Conn., one of the wealthiest communities in the U.S.: According to a new report, the median family income dropped 8 percent from 2007 to 2010.

The dwindling wealth of the American family: By the numbers

The Great Recession wiped out a huge chunk of the average family's wealth, setting the U.S. back by nearly two decades

Working in America : Controversy
Apparently, for a few men with a rare fetish, the sight of a mother pumping breast milk in an institutional environment is a turn on.

The man charged with secretly filming his breast-pumping co-worker

Police accuse a Pennsylvania man of creepily hiding a camera in the ceiling of his colleague's offce. Sadly, this isn't the first such tale

The U.S. Recovery : Opinion Brief
With job growth stalled, some are urging Federal Reserve Chairman Ben Bernanke to step in and help juice the economy through monetary policy.

Is the U.S. careening toward another recession?

Job creation all but ground to a halt in May, and that's hardly the only reason to worry that the economy will get a lot worse before it gets better

Unemployed in America : The List
A man peruses paperwork at a New York City job fair in April: May's feeble economic growth and increased jobless rate bode ill for Obama's reelection chances.

May's disastrous jobs report: 5 takeaways

The economy added only a dribble of jobs last month — depressingly stark evidence that the labor market just can't get out of its rut

Wall Street : Analysis
Protesters outside the annual Bank of America shareholders meeting in North Carolina: The PR teams of the country's biggest banks have had their work cut out for them this year.

Wall Street's rough year: 5 ways banks have shamed themselves

The embarrassing financial crisis is practically ancient history, but the country's banking titans are still finding ways to infuriate ordinary people

Working in America : Essay
An Amazon warehouse in Nevada: The e-tail giant has 69 gigantic warehouses, 17 of which came online just last year.

A day in the life of a warehouse wage slave

Working in the online shipping business, says Mac McClelland, is nasty, brutish, and poorly paid

Wall Street : Opinion Brief
A protester stands outside the annual JPMorgan stockholders meeting Tuesday: Some observers argue that government watchdogs would need God-like powers to regulate such mega-banks effectively.

JPMorgan's billion-dollar loss: Time to break up the big banks?

A handful of mega-banks dotting the financial landscape are too big to fail, putting taxpayers and the global economy at risk every time they stumble

Wall Street : Controversy
A $2 billion trading loss that JPMorgan CEO Jamie Dillon initially dismissed as a "tempest in a teapot" wiped out $13 billion from the company's value the day after it was revealed.

Did JPMorgan CEO Jamie Dimon break the law?

The mega-bank's stock is plunging, its reputation has been battered, and now the Justice Department is investigating whether it committed a crime

Bankrupt USA : Instant Guide
Gov. Jerry Brown (D) will attempt to tackle California's crippling budget shortfall by slashing social services and limiting state workers to a four-day week.

California's financial apocalypse: A concise guide

Gov. Jerry Brown says his state is almost $16 billion short on its budget. The 74-year-old Democrat has a plan to close the gap — but Californians won't like it

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