Late last year, Harrington Investments President John Harrington filed shareholder resolutions at banks that received billions of taxpayer dollars under the Trouble Asset Relief Program. Congress bailed out the banks because they are essential to the stability of our economy, so the resolutions ask for board committees to oversee US Economic Security. Ironically, Citigroup and Bank of America have petitioned the SEC for permission to ignore the resolutions.Read the show transcript
The meltdown on Wall Street has many people asking, how come the government can find hundreds of billions to bailout the guys who brought us this mess–but always claims there’s no money to save homeowners from foreclosure, provide health insurance to those who can’t afford it, or clean up the environment?
Today’s guest David Cay Johnston says it’s all part of an endemic pattern of “corporate welfare”, where government policy is rigged to benefit the richest Americans at the expense of the rest of us. Johnston was an investigative journalist for the New York Times before becoming an independent reporter. He won a Pulitzer Prize for exposing loopholes and inequities in the U.S. tax code.
—Millions of new green jobs could light up a gloomy economic horizon
— The devil’s in the details on the bailout bill’s CEO pay provisions
—Al Gore wants you to commit civil disobedience — to save us from climate collapse