Wow! That’s terrific bunny …
New York Times : A Mortgage Investigation
The moment Obama mentioned a panel to investigate banks, I thought: “I hear you. Now show me.” The panel is to include New York AG Eric Schneiderman, a thorn in the side to an administration that seems keen on sweeping the whole thing under the rug. A attempt at co-opting him? The Times thinks so.
There is good reason to be skeptical. To date, federal civil suits over mortgage wrongdoing have been narrowly focused and, at best, ended with settlements and fines that are a fraction of the profits made during the bubble. There have been no criminal prosecutions against major players. Justice Department officials say that it reflects the difficulty of proving fraud — and not a lack of prosecutorial zeal. That is hard to swallow, given the scale of the crisis and the evidence of wrongdoing from private litigation, academic research and other sources.
Fiscal Times :
After the Layoff: Congrats on Your New, Worse Job
The good news is the unemployment rate is slowly ticking down – from 9 percent in October 2011 to 8.5 percent in December. Nonfarm payroll employment rose by 200,000 in December, and hiring was up in retail, hospitality, professional services and health care.
Yet, for the majority of U.S. workers, average wages have remained stagnant for decades, and median household income dipped during the recession, declining 6.4 percent between 2007 and 2010. According to a study released in December by the John J. Heldrich Center for Workforce Development at Rutgers, just 7 percent of those who were let go during the recession have matched previous income. A little over half reported taking a pay cut – and of those, 29 percent took a reduction in salary by 30 percent or higher. To top off the bad news, 30 percent of the reemployed percent took a reduction in benefits.
Not that this will stop the wingnuts from their crusade but it should. Turns out that the South Carolina zombies weren’t zombies after all.
What Digby said.