Media

High-frequency trading (or “HFT”) is suddenly the financial market scandal of the day. Michael Lewis has published a book that was featured on Sunday in a 60 Minutes report and in a story in the New York Times Magazine.  HFT is the use of high-powered computers, blazing fast connections with exchanges, and sophisticated trading algorithms to transact in time frames measured in milliseconds or shorter.

You may have heard by now but today the Roberts Court struck down the limits on the amount a single wealthy donor can give directly to his or her favored candidates, parties, and committees. Basically, this is the second shoe to drop after Citizens United in 2010.

There is no more basic form of liberty than the right to be alive and unharmed. 

Prior to McCutcheon v. FEC, a wealthy donor was limited to a cap of $123,200. Now, that same donor can give more than $3.5 million.

Talk about a missed opportunity. Last night, the New York State legislature passed a $137.9 billion budget for the upcoming year. Senate Deputy Republican Leader Thomas Libous lauded the effort and said, “We, at least, have done our job and the budget is complete." Not quite. The budget may be complete, but legislators certainly did not do their job.

Roughly half of all U.S. families have no money set aside for retirement, Federal Reserve data show. Not a cent. But even that alarming savings deficit doesn't fully capture the emerging socioeconomic crisis facing what is, after all, a rapidly graying nation. [...]

Governor Cuomo and state leaders announced a budget agreement that left out the full public financing of elections.