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Michigan legislature enacts new attacks on workers, democratic rights

By Lawrence Porter, December 22, 2012

The Republican-controlled state legislature has passed a series of reactionary measures in its “lame duck” session.

Obama, Boehner pledge to continue talks on social cuts

By Barry Grey, December 22, 2012

Whether a budget deal is worked out before the New Year or after, it will initiate an assault on all that remains of the social reforms enacted in the last century.

Forecast: 13.1 percent to be jobless some time in US next year

By David Walsh, December 21, 2012

The jobs situation remains grim in the US. Data released by the Economic Policy Institute on December 19 indicate that more than one in eight workers will be out of a job at some point in 2013.

UBS Libor-rigging settlement exposes pervasive bank fraud

By Andre Damon, December 20, 2012

The Libor scandal has laid bare the rampant criminality in the operations of the world's major banks.

Chicago diverts taxes to investors, plans privatization of services

By Alexander Fangmann, December 19, 2012

Two recent reports reveal the extent of redistribution of city tax revenues to corporate interests while cuts to services deepen.

Michigan’s Awrey Bakeries faces closure

By David Brown, December 18, 2012

After years of demanding concessions from its workers, Awrey Bakeries is preparing to shut down production and lay off more than 200 workers.

Above the law

By Barry Grey, December 14, 2012

The financial robber barons of today are a law unto themselves.

Obama, CEOs join forces in budget-cutting campaign

By Patrick Martin, December 14, 2012

Obama and a large group of top corporate executives are supporting a combination of minor tax increases on the wealthy and enormous spending cuts in social programs like Medicare and Social Security.

US Federal Reserve expands “quantitative easing”

By Andre Damon, December 14, 2012

The Federal Reserve announced a significant expansion of its bond-buying program and low-interest-rate policy, in a move to prop up the assets of the super-rich.

Sweetheart settlement for HSBC bank on drug money laundering charges

By Barry Grey, December 13, 2012

The financial mafia that bestrides the American economy and controls the political system is, in practice, above the law.

Massachusetts governor outlines new round of budget cuts

By John Marion, December 13, 2012

The Democratic governor of Massachusetts, a close friend of the president’s, is calling for major cuts in social programs to close a state budget gap.

Stockton, California: Bankruptcy judge poised to rule against workers

By Kevin Kearney, December 12, 2012

Bond insurers have filed a petition to force the city of Stockton to abrogate its pension obligations before filing for bankruptcy.