In light of the failed Wisconsin recall, Joe Nocera, New York Times op-ed columnist and co-author of All the Devils Are Here: The Hidden History of the Financial Crisis, discusses the correlation between the decline of unions and the widening gap between the rich and the middle class.
Last night in Wisconsin, voters weighed in on whether Governor Scott Walker would stay in office. The recall began with protests over Governor Walker's attempts to curb union bargaining power in Wisconsin. However, as the election approached it grew into a divisive political fight, with $60 million on both sides. Whether or not the Wisconsin recall will prove to be a bellweather for the 2012 presidential election, it's certain to have implications for the future of labor unions throughout the country.
New Jersey Governor Chris Christie announced last week that he will defy a federal ban on sports gambling and that he hopes to let New Jersey residents legally bet on sporting events by fall of this year. His chances of success seem slim, but his outspokenness has reinvigorated national debate on the topic. Sports gambling: should it be legal?
JPMorgan Chase’s CEO Jamie Dimon called concerns about a massive trading bet a “tempest in a teapot” last month.
May 1 is the deadline for millions of high school seniors to choose where they will go to college in the fall. To pay for it, many will take out thousands of dollars in student loans, only adding to the country’s more than $1 trillion in existing student debt. All this debt is having enormous consequences on economic growth. Could student loans be the next financial bubble?
Yesterday the U.S. Department of Justice sued Apple and five major publishers on antitrust grounds, alleging they fixed prices of e-books throughout 2010. According to the Department, consumers may have been paying as much as $5 too much for e-books. Three of the publishers have settled. Joe Nocera is an Op-Ed Columnist at the New York Times, and joins us to talk about how book pricing works, and what yesterday's legal actions mean for the future pricing of e-books.
"Do you Yahoo?" was the web giant's catchphrase, but not enough people are answering in the affirmative these days. Yahoo has announced that it is laying off 2,000 employees in the hopes of turning around the company. Joe Nocera, Op-Ed columnist for our partner The New York Times, says Yahoo should be a cautionary tale for other tech companies like Google and Facebook, who might be next in line.
All this week, the Supreme Court has heard arguments on the constitutionality of the Affordable Care Act. The centerpiece of President Obama's health care reform legislation — and the focus of the debate at the Court — is the individual mandate, which requires all Americans to purchase health insurance or pay a fine. The Court won't issue a ruling until June, but if they do declare the mandate unconstitutional, how much of a real difference will it make for you and your health care?
The House Financial Services Committee will hold its third hearing Wednesday into the collapse of MF Global, the commodities firm once led by former New Jersey Governor and Senator Jon Corzine.
There's a lot of money to be made off March Madness. At $122 billion, the amount of spending the NCAA's annual basketball tournament generates is equal to Iceland's GDP. That total includes $614 million in TV advertising, $300 million in NCAA merchandise, and $185 million in corporate sponsorship. So why aren't the athletes paid?
Republican Congressional leaders are staking out their positions on the federal budget, setting up what will most likely become another series of policy fights with President Barack Obama this election year.
Most economic indicators point to America being on the upswing in 2012. The stock market is up. Unemployment is down. And the strains in the global financial markets have eased. Yet 59 percent of voters rate President Obama negatively when it comes to the economy, according to a new Washington Post/ABC poll.
Could it be because of the one economic indicator that’s stubbornly not improving: gas prices?
The Federal Reserve released the results of “stress tests” for 19 financial institutions Tuesday — two days ahead of schedule — after J.P. Morgan Chase announced it successfully passed the test and was boosting dividends.
It’s still officially winter… but we're all about “Summertime” today. As “The Gershwins’ Porgy and Bess” continues its run on Broadway, we look at the oft-covered popular song from the opera, “Summertime.” New York Times columnist Joe Nocera joins us to talk about some of the many versions of the song that have been released since the opera was first performed in 1935. Plus, singer Kat Edmonson joins us to perform her recent take on the classic.
As voters in Michigan prepared to head to the ballots Tuesday, President Obama delivered a rousing speech to the United Auto Workers Union in Washington D.C., taking the opportunity to campaign on the success of the auto-bailout. Three years and some $80 billion later, the rescue of Chrysler and GM has remained fresh in the minds of voters in Michigan. However, the significance of the bank and auto bail-outs may mean something else — or perhaps nothing at all — to voters in other parts of the country.