Lobbyists are to blame.
The larger question is why we allow the chemical industry — by spending $100,000 on lobbying per member of Congress — to buy its way out of effective regulation of endocrine disruptors. The industry’s deceit marks a replay of Big Tobacco’s battle against regulation of smoking.
Are Your Sperm in Trouble? https://nyti.ms/2mxZcF9
Wow. A Spectacular lapse by the Federal government. ITT profited for 17 years after the gov knew it was being defrauded. A textbook example of corporate defenders in our government.
Not everybody was a loser in this tale, of course. Going through ITT’s financial filings from 2000 to 2016, I found that the company generated over $12 billion in revenue, roughly 70 percent of it in government-backed student aid.
Beginning in 2001, with George W. Bush in the White House and Republicans ruling the House of Representatives, the winds were shifting in favor of for-profit colleges.
A Whistle Was Blown on ITT; 17 Years Later, It Collapsed http://nyti.ms/2esW0We
The Republicans might get this one right.
The United States system for taxing businesses is a mess.
The current corporate income tax manages the weird trick of both taxing companies at a higher statutory rate than other advanced countries while collecting less money, as a percentage of the overall economy, than most of them. It is infinitely complicated and it gives companies incentives to borrow too much money and move operations to countries with lower tax rates.
The Major Potential Impact of a Corporate Tax Overhaul http://nyti.ms/2jeVcVl
Theft of wages by employers is estimated to costs low income workers $50 billion a year. That’s 3x greater than the total of all robberies, burglaries, larcenies, and car thefts in a year.
The central theme of NobodyisFlyingthePlane is that we’re not paying attention to the real things that harm us and the real causes of the problems we face. This is a great example. We spend enormous amounts of time, money, and mental efforts fighting theft by the disenfranchised, but we institutionally support theft from them by those higher up on the ladder.
NobodyisFlyingthePlane means we fail to see our problems for what they really are. The same behavior we enshrine as good business practice we imprison others for.
failure to pay what workers are legally entitled to can be called wage theft; in essence, it involves employers taking money that belongs to their employees and keeping it for themselves.
evidence suggests that wage theft is widespread and costs workers billions of dollars a year, a transfer from low-income employees to business owners that worsens income inequality, hurts workers and their families, and damages the sense of fairness and justice that a democracy needs to survive.
All of the robberies, burglaries, larcenies, and motor vehicle thefts in the nation cost their victims less than $14 billion in 2012, according to the FBI’s Uniform Crime Reports.That is well over one-third of the estimated cost of wage theft nationwide.
Underscoring how widespread the problem of wage theft is, Kentucky Labor Cabinet spokesperson Daniel Lowry reported that the state collected $4.4 million in restitution on wage theft cases in 2013, while comparatively all robberies in the state totaled $2.5 million.
It’s still hard to believe that anything but separatism, bigotry, misogyny, and small mindedness drove Trump supporters.
But it’s not hard to believe that Wall Street running our political machine makes people mad. When no one on Wall Street got punished for the recession yet most Americans felt the consequences it was an unspoken travesty. Now maybe it’s going to be dealt with.
“Are you going to return to the situation under Bush and Clinton where Wall Street wrote its own rules in the back room?” Mr. Stanley asked. “Or are you going to put forward something that constitutes a genuine alternative and that will prevent Wall Street from rigging the economy?”
How Letting Bankers Off the Hook May Have Tipped the Election http://nyti.ms/2eoC61h
The for profit school model is broken and needs to be curtailed. Schools which are effectively dependent on government loans need to be closed. Providing crap education in exchange for taxpayer money and profits for stockholders is fraudulent.
the only way to hold schools accountable is to make the cost of abuse high.
Late to the Fight Against Predator Schools http://nyti.ms/2cxLDyg
This article makes the case that better regulation is far more effective than criminal prosecution for corporate misdeeds.
A well-enforced regulatory regime lacks the TV-movie narrative arc of a criminal trial. But none of these crimes could have been committed if the government had been doing its job properly.
With regulatory structures in willful disrepair, the corporate world has become one more sphere colonized by the police and prosecutors. But even as progressives have begun to question the overuse of criminal law elsewhere, its encroachments into the white-collar world are generally cheered: Finally, a chance to stick it to “crime in the suites”!
Criminal law, however, turns out to be a lot better at catching the small, sad fish of middle management than the sharks of industry and finance. Go to the F.B.I.’s “most wanted” webpage for white-collar crime and what leaps out is how many on the list are nonwhite and how petty their swindles are.
The injustice of the Flint contamination and other safety disasters demand a meaningful response. Criminal law is not the right tool for the job.
The Real Crime Is What’s Not Done http://nyti.ms/2bF6sum