In the run-up to the 2012 presidential election, reports of harassment and intimidation at the polls were so rampant in North Carolina that the state's top election official was obliged to send a memo to his employees reminding them that they could call police if necessary.
It's still a given that a college education means bigger paychecks over a person's lifetime. But as people take on ever greater amounts of student debt to fund school, the wealth they accumulate over their lifetimes is drastically less than people who didn't have to borrow.
A student who takes out $53,000 in debt, the average amount for those attending a four-year public university, will experience a a lifetime loss of wealth totaling $208,000, according to a new report from the think tank Demos. It dives into the long-term costs of rising student debt and finds that for those who carry the $1 trillion in total student debt, their lifetime wealth loss will equal $4 trillion.
Following last week’s report showing that Ohio students who graduate with student loans hold an average debt of nearly $30,000, U.S. Sen. Sherrod Brown (D-OH) will outline a plan that would help Americans saddled with costly, private student loans refinance to more affordable options. During a news conference call today, Brown discussed how his bill would help individuals reduce their student loan debt by refinancing at no cost to taxpayers.
Picking a new chairman of the Federal Reserve may be the most important nomination a president can make. The next Fed chair will play an instrumental role in determining the future trajectory of America’s straggling recovery, and determining how financial regulation gets implemented.
Financial markets, now heavily dependent on technology, need to be safeguarded against cyberattacks, natural disasters and the more prosaic scourge of human error that can cause massive disruptions, according to experts and a federal panel.
Without a doubt, the big banks should be broken up; the need is even more urgent than it was in 2007 or 2008. The Federal Reserve Bank of Dallas – hardly an Occupy Wall Street affiliate – titled its 2011 Annual Report "Choosing the Road to Prosperity: Why We Must End Too Big to Fail – Now."
The attack on voting rights in North Carolina is a shameful attempt by the state’s politicians to curtail access to the ballot, in ways devised particularly to discourage voting by African-Americans.
The question of student loans is taking on an increasing urgency everywhere but Washington.
Rates on federally subsidized loans doubled to almost 7% on July 1,thanks to Congressional bickering and dithering. The latest attempt to roll back the rates failed to get out of the Senate earlier this week, when sponsoring Democrats failed to break a Republican filibuster against the bill.
Voting rights activists have seized upon a key provision of the Voting Rights Act in an effort to mitigate the damage done by the Supreme Court earlier this month in the case of Shelby County, Alabama v. Attorney General Eric Holder. According to Adam Serwer at MSNBC.com, the state of Texas may still be subject to the federal government’s approval before it can rearrange voting districts or make changes to election law.
The Supreme Court of the United States must be criticized for blindness, perhaps even willful ignorance of reality, in their recent decision gutting the Voting Rights Act.
The Supreme Court’s decision in Shelby County v. Holder is a setback for democracy — especially at the local level.
Overwhelming evidence shows that too many politicians continue to win elections by unfairly manipulating election rules based on how voters look or talk. The Court’s decision makes this problem worse. The biggest problem will be the manipulation of election rules for local offices that are often non-partisan and escape national attention.
Q. How would you summarize the decision in a single sentence?
A. The court effectively rolled back an important provision of the Voting Rights Act, ruling that the act’s formula requiring federal preapproval of election changes for some states but not others was outdated because it was based on data from the 1960s and ’70s.
Q. Did anything in in it — or in the justices’ votes — surprise you?
A. I was not surprised by the votes of the particular justices.
Five Supreme Court Justices just rolled back the most effective civil rights provision in our nation's history. What should we do now?
One option is to declare "mission accomplished" and forget about race in politics.
That, however, will not work. Although we have made amazing progress in the past fifty years, too many state and local politicians still maintain power by manipulating election rules.
The Supreme Court dealt the Voting Rights Act a serious body blow Tuesday, but it did leave Congress an out. The court said, “Congress—if it is to divide the States—must identify those jurisdictions to be singled out on a basis that makes sense in light of current conditions.”
The Supreme Court just declared that the Civil War is no longer relevant to the history and administration of racial justice in America.
In a sense, the court's decision in Shelby County v. Holder validated a generations-long effort -- first by Democrats and later by Ronald Reagan and the Bush family -- to throw off the moral weight that slavery and the Civil War had placed on the South. [...]
A Supreme Court decision Monday that struck down an Arizona law requiring people to provide proof of citizenship when registering to vote was hailed by voting-rights advocates as a big win. But several legal scholars say the ruling, written by Justice Antonin Scalia, could in fact set back the voting-rights cause in cases to come.
Regulators in the United Kingdom are looking into allegations that traders from some of the world's largest banks have been manipulating benchmark foreign-exchange rates to make profits on the backs of clients.
Bloomberg News broke the story earlier this week, citing interviews with several anonymous traders who claim the practice has been occurring for at least 10 years. [...]