Here's some positive news out of Europe for a change: German Chancellor Angela Merkel and French President Nicolas Sarkozy called yesterday for a tax on financial trades. This isn't a new idea -- European leaders have pushed it before -- but a financial transaction tax (FTT) is a good idea that...
Obama put[s] the U.S. government solidly back on the side of the middle class Washington, DC — Today, President Obama signed the landmark Wall Street Reform and Consumer Protection Act of 2010. The Director of Demos' Washington, DC Office, Heather C. McGhee, and Demos' Federal...
Today We Start Rebuilding the American Middle Class Washington, DC — Today the US Senate passed an historic financial reform bill, the Wall Street Reform and Consumer Protection Act, reigning in some of the most egregious practices of banking industry that led to the recent financial meltdown...
Having lost more than 143,000 jobs since the financial industry set off the Great Recession in 2008, Massachusetts's economy and its middle class depend more than ever on the health of our small businesses. Yet the engine of a thriving small business economy — affordable credit — has stalled...
For far too long, brokers have been selling their older clients complex investments known as structured products. These products are so risky, and so costly in fees, that some of them are almost sure money losers. They entered retirement portfolios like Trojan horses, and then destroyed people’s...
Retirements at Risk from Widespread Abuse of High-Risk Derivatives, Finds New Study by Demos & The Nation Institute
New York, NY – 'Shadow Market' investment products have come under scrutiny following the banking meltdown, but they continue to be aggressively marketed to clients who can least afford the potentially catastrophic losses. Millions of American seniors could see their golden years turn bleak if the...
Maine can put deposits of state tax revenue to use in ways that tilt the economic playing field back toward Main Street businesses, our community banks, and long-term job growth. A Maine Street Economic Development Bank—like the successful Bank of North Dakota—will generate new revenue for Maine,...
How Main Street Partnership Banks Can Improve Local Economies
Across the country, states are considering proposals to move general revenue deposits out of the Wall Street banks that dominate the banking business today, and use them to capitalize a new local public structure with a mission to grow the local economy. A “Main Street Partnership Bank” would be...
Washington can put deposits of state tax revenue to use in ways that tilt the economic playing field back toward Main Street businesses and our community banks, local infrastructure investments and long-term job growth. A Washington Investment Trust—like the successful Bank of North Dakota—will...