Showing posts with label Matt Taibbi. Show all posts
Showing posts with label Matt Taibbi. Show all posts
Friday, April 18, 2014
Friday, June 21, 2013
Matt Taibbi Reveals Financial Crisis Smoking Gun
Visit NBCNews.com for breaking news, world news, and news about the economy
Tuesday, March 19, 2013
Matt Taibbi Explains JP Morgan Chase’s Crime Spree
Matt Taibbi Explains JP Morgan Chase’s Crime Spree
"Matt Taibbi explains the myth of JP Morgan Chase as the “one good bank”, why too big to fail is the problem, why Washington is finally getting fed up with Wall Street, how Wall Street miscalculated the 2012 election, how JP Morgan Chase hides losses and commits regular acts of financial fraud and is genuine Wall Street reform possible now?"
"Matt Taibbi explains the myth of JP Morgan Chase as the “one good bank”, why too big to fail is the problem, why Washington is finally getting fed up with Wall Street, how Wall Street miscalculated the 2012 election, how JP Morgan Chase hides losses and commits regular acts of financial fraud and is genuine Wall Street reform possible now?"
Wednesday, September 12, 2012
What the Bain way would mean for America
Lawrence O'Donnell talks with Matt Taibbi of Rolling Stone, about his article that examines how Mitt Romney and Bain Capital really operated, and how those business practices destroyed jobs.
Sunday, September 2, 2012
Taibbi: Mitt Romney Was The Guy Who Fired You From Your Job
Taibbi: Mitt Romney Was The Guy Who Fired You From Your Job
"Are you kidding? Mitt Romney was the guy that fired you from that $22.50 an hour job, and helped you replace it with two $9 an hour jobs! He was a pioneer in the area of eliminating the well-paying job with benefits and replacing it with the McJob that offered no benefits at all. One of the things that killed him in the Senate race against Ted Kennedy were Kennedy ads that reminded voters that Mitt’s takeovers resulted in slashed wages and lost benefits. He was exactly the guy that eliminated that classic $22.50 manufacturing job, like in the case of GST Steel, where Bain took over with an initial investment of $8 million, paid itself a $36 million dividend, ended up walking away with $50 million, and left GST saddled with over $500 million in debt. 750 of those well-paying jobs were lost.
"Are you kidding? Mitt Romney was the guy that fired you from that $22.50 an hour job, and helped you replace it with two $9 an hour jobs! He was a pioneer in the area of eliminating the well-paying job with benefits and replacing it with the McJob that offered no benefits at all. One of the things that killed him in the Senate race against Ted Kennedy were Kennedy ads that reminded voters that Mitt’s takeovers resulted in slashed wages and lost benefits. He was exactly the guy that eliminated that classic $22.50 manufacturing job, like in the case of GST Steel, where Bain took over with an initial investment of $8 million, paid itself a $36 million dividend, ended up walking away with $50 million, and left GST saddled with over $500 million in debt. 750 of those well-paying jobs were lost.
What kinds of jobs were left for those fired workers to look for? Well, in the best-case scenario, you might have found one at Ampad, another Bain takeover target, where workers had their pay slashed from $10.22 to $7.88 an hour, tripled co-pays, and eliminated the retirement plan."
Subscribe to:
Posts (Atom)