When To Raise Rates? Boston Fed Chief Pokes Fellow Liberals
When To Raise Rates? Boston Fed Chief Pokes Fellow Liberals
Eric S. Rosengren, president of the Federal Reserve Bank of Boston, has been famous as an inflation dove – until now....
Eric S. Rosengren, president of the Federal Reserve Bank of Boston, has been famous as an inflation dove – until now.
Being a dove means he almost always favors smaller and fewer interest rate increases by the Fed, in the hope that more money from the spigot will lead to more jobs and wage increases for workers. Rosengren and Janet Yellen, the Fed chair, have led the dove charge in recent years.
But on Wednesday, Rosengren dissented when the central bank postponed a rate hike at least until December. That surprised his fellow dovish liberals because, to oversimplify, lower rates tend to help workers, while higher rates, making money harder for borrowers to get, can protect accumulated wealth by warding off inflation.
The pro-hike dissent was his first in almost 10 years as a Fed governor; he has certainly opposed rate hikes and urged faster cuts, sometimes with formal dissents.
The move ignited debate not along the usual lines of doves and hawks – those who favor rate hikes to control inflation even before it appears – but between doves and doves, in much the same way that, for example, foreign trade deals divide liberal Democrats.
All of this might seem like an esoteric spat to Joe Grabasandwich, as my old politics professor used to say. But it lies at the heart of how the central bank can prod the economy to help more people, sooner. And it matters especially in Connecticut, where growth is slow even in good times, making rate hikes hurt worse than elsewhere.
On Friday, Rosengren explained his dissent in a public statement in which he said the economy is stronger than many people think.
"By 2019, I expect the unemployment rate to have declined below 4.5 percent," Rosengren said in the statement. "While I have a long track record of advocating for policy that supports robust labor market conditions, that is below the rate that I believe is sustainable in the long run."
What Rosengren is saying is that a 4.5 percent unemployment rate is so low that it would heat up the economy to the point of inflation above 2 percent, and that's the big no-no the Fed is trying to prevent – a clear charge to anyone who remembers the nightmare of the 1970s.
Taking the medicine of a one-quarter of 1 percent rate increase now, immediately, will, in his view, allow for relatively low rates over the long haul. That's part of the so-called soft landing from an expansion that is so hard to achieve.
Not so fast, left-leaning economists say. Or rather, not so slow. In the big picture, economist Jared Bernstein said, workers only see wage increases when the unemployment rate is at or near full employment – as we saw in the Sept. 15 Census report. The report showed a robust 5.2 percent 2015 jump in the income of households at the middle of the scale.
Did Eric Rosengren, of all people, turn his back on this?
"I've always considered him sympathetic to my view, which is that the last thing you'd want to do is tap the brakes and slow down job growth at a time when the economy is finally starting to...help people who have been left behind," said Bernstein, a senior fellow at the Center on Budget and Policy Priorities and author of a new book, "The Reconnection Agenda: Reuniting Growth and Prosperity."
Bernstein, a former chief economist for Vice President Joe Biden, doesn't believe Rosengren is suddenly looking out for capital at the expense of labor. Rather, the issue comes down to the murky relationship between inflation and unemployment.
The financial media widely reported Rosengren's 4.5 percent jobless figure Friday. But in itself, it's not news, considering the rate is now 4.9 percent. The real news, Bernstein said, is that Rosengren thinks he can tell when too hot is too hot, without data.
Rosengren, in a visit to New Britain in April, explained that the "natural" or "full" rate of employment, the level that delivers the maximum benefits to the economy without accelerating inflation, will be reached when the jobless rate is 4.7 percent.
The trouble with that view, Bernstein said, is that "it is widely understood by people who look very closely at this question that we cannot reliably estimate that rate within 2 points one way or another."
There are too many variables in play, such as productivity and distribution of income, so, why risk punishing workers by applying certainty to a mystery?
Rosengren explained, in his statement Friday: "My goal is to achieve a long and durable recovery – a sustainable expansion...I believe a significant overshoot of the full employment level could shorten, rather than lengthen, the duration of this recovery."
As I noted when Rosengren visited in April, his view of the economy, literally, from his downtown Boston office, is full of cranes in the torrid market of a red-hot city. Is that coloring his fear of inflation? Maybe.
No one thinks another quarter-point increase in the Fed's overnight borrowing rate, after last December's uptick, will make a big difference by itself. But the signal the Fed sends can and does move markets and the economy.
"If we want this recovery to reach down and help people it has yet to reach, that's inconsistent with even a small rate increase," Bernstein said. "Where's the inflation?"
"It's gradually coming up," Rosengren told a Quincy, Mass. audience on Sept. 9.
That's the $15 trillion debate as the U.S. economy either is, or is not, nearing its speed limit.
By Dan Haar
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“Shamelessness Is All The Rage”
“Shamelessness Is All The Rage”
Trump’s own lawyer compares him to a mob boss, McConnell helps open the door for Trump to fire Mueller, Beto O’Rourke...
Trump’s own lawyer compares him to a mob boss, McConnell helps open the door for Trump to fire Mueller, Beto O’Rourke closes in on Ted Cruz, and Mike Pompeo meets Kim Jong Un. Then activist Ady Barkan joins Jon and Dan to talk about the special election in Arizona and his new project, beaherofund.com.
Listen to the conversation here.
Nueva York es la primera ciudad de EE.UU. que financia abogados para inmigrantes
NTN24 – July 21, 2013 - Una investigación determinó que las personas que se encuentran bajo detención por orden de un...
NTN24 – July 21, 2013 - Una investigación determinó que las personas que se encuentran bajo detención por orden de un juez de inmigración en EE.UU. no cuentan con un abogado de oficio.
Por esta razón, se creó en Nueva York un programa que le brinda el acompañamiento legal a los inmigrantes que no cuentan con los recursos necesarios para recibir asesoría legal. La iniciativa es apoyada por Robert Katzmann, Juez federal de la Corte de Apelaciones.
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Black Lives Matter Coalition Makes Demands as Campaign Heats Up
Black Lives Matter Coalition Makes Demands as Campaign Heats Up
More than 60 organizations associated with the Black Lives Matter movement have released a series of demands on Monday...
More than 60 organizations associated with the Black Lives Matter movement have released a series of demands on Monday, including for reparations.
The list of six platform demands is aimed at furthering their goals as the presidential campaign heads into the homestretch.
The release of the six demands comes a few days before the second anniversary of the shooting of Michael Brown in Ferguson, Mo., which set off months of protests and led to a national conversation about police killings of blacks.
As part of the effort, the groups are demanding, among other things, reparations for what they say are past and continuing harms to African-Americans, an end to the death penalty, legislation to acknowledge the effects of slavery, as well as investments in education initiatives, mental health services and jobs programs.
“We wanted to intervene in this current political moment where there is all this amazing and inspiring work that is resisting state violence and corporate power,” said M. Adams, co-executive director of Freedom Inc., a nonprofit group based in Madison, Wis., which focuses on violence within and against low-income communities of color.
The list comes right after the Republicans and Democrats held their respective national conventions, and as the general election fight is heating up, with the two nominees, Donald J. Trump and Hillary Clinton, now crisscrossing the nation campaigning. But the coalition will not be endorsing any presidential candidate.
Marbre Stahly-Butts, who is part of the leadership team of the Movement for Black Lives Policy Table, which worked on the demands, said: “On both sides of aisle, the candidates have really failed to address the demands and the concerns of our people. So this was less about this specific political moment and this election, and more about how do we actually start to plant and cultivate the seeds of transformation of this country that go beyond individual candidates.”
The groups worked on creating the demands for a year before making their demands known on Monday. They now plan to start local campaigns aimed at pushing for changes in law enforcement and community programs in cities across the country.
“We seek radical transformation, not reactionary reform,” Michaela Brown, communications director of Baltimore Bloc, another participating group, said in a statement. “As the 2016 election continues, this platform provides us with a way to intervene with an agenda that resists state and corporate power, an opportunity to implement policies that truly value the safety and humanity of black lives, and an overall means to hold elected leaders accountable.”
By YAMICHE ALCINDOR
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These Cities Aren’t Waiting for the Supreme Court to Decide Whether or Not to Gut Unions
These Cities Aren’t Waiting for the Supreme Court to Decide Whether or Not to Gut Unions
In the face of the Janus case, local elected officials across the country are renewing our efforts to help workers...
In the face of the Janus case, local elected officials across the country are renewing our efforts to help workers organize—in traditional ways, and in new ones. Brad Lander is a New York City Council Member from Brooklyn and the chairman of the board of Local Progress, a national association of progressive municipal elected officials. Helen Gym is a Councilmember At Large from Philadelphia and Vice-Chair of Local Progress, a national network of progressive elected officials.
Read the full article here.
Activists Seek More Public Input in Fed President Picks
Wall Street Journal - December 11, 2014, by Pedro Nicolaci da Costa - A group of left-leaning activists is...
Wall Street Journal - December 11, 2014, by Pedro Nicolaci da Costa - A group of left-leaning activists is taking aim at the process for selecting the presidents of the Federal Reserve‘s 12 regional banks, saying it lacks sufficient transparency and public input.
Philadelphia Fed President Charles Plosser and Dallas Fed President Richard Fisher have announced they will retire next year and both district banks are conducting searches for successors. The two men have been critics of the central bank’s prolonged low-rates policies, saying they aren’t doing very much to boost employment or growth.
Federal law dictates the process for choosing the regional presidents. They are picked by a subset of the banks’ boards of directors, with approval from the Fed’s Washington-based board of governors. The regional bank boards include bankers, business executives and some community representatives, but directors from banks supervised by the Fed don’t have a vote in hiring the banks’ presidents.
Commercial banks that are members of the Fed system own the stock of their district’s reserve bank and elect most of its directors. Remaining directors are appointed by the Fed board in Washington.
The activist group, led by the Center for Popular Democracy, a national nonprofit organization, said it is in talks with the Dallas Fed about increasing transparency in its selection process and is planning a march in Philadelphia from Constitution Hall to the Philadelphia Fed on Monday. Members of the group plan to hold a press conference outside the regional Fed bank like the one they held in Washington in November, at which community members and leaders will tell some of their stories.
The appointments are “too important to be done behind closed doors, too important to be dominated by financial and corporate interests,” said Ady Barkan, a staff attorney at the center.
“We are concerned there is not going to be enough community and public engagement,” Mr. Barkan said. “Corporate and financial elites already have tremendous influence over monetary policy and interest rates. The Fed should also listen to the tens of millions of working families who are not experiencing a recovery.”
The Fed board, the Dallas Fed and the Philadelphia Fed declined to comment.
In response to the activists’ concerns, voiced during a conversation with Fed Chairwoman Janet Yellen in November, the central bank has just published a new list of “frequently asked questions” about the regional president selection process.
Kendra Brooks, a member of Action United in Philadelphia, a community organizing group, said she and others have met with some officials at the Philadelphia Fed, but have yet to be granted a meeting they’ve requested with Mr. Plosser or received an answer to their offer to take top officials around local communities.
“We’re hoping we can push them a little harder about allowing a meeting or taking a tour of their communities,” said Ms. Brooks.
Her story is an all-too-familiar one in the Great Recession of 2007-09. Having lost a 15-year job as a program director at Easter Seals, a nonprofit that helps people with disabilities, Ms. Brooks, 42 years old, said it took her a year and a half to find work again—and she now makes just half what she used to. She also lost her home to a foreclosure.
Fed governors are appointed by the U.S. president, subject to Senate confirmation. They all are voting members of the central bank’s powerful policy-setting Federal Open Market Committee.
The New York Fed president is the vice chairman of the FOMC and a permanent voting member. The other 11 presidents vote on a rotating basis. The presidents run the regional Fed banks, which supervise the private banks in their districts. The presidents also move markets and influence Fed policy through their public remarks.
The center organized activists to appear at the Kansas City Fed’s exclusive annual conference in Jackson Hole, Wyo., in August. They argued the Fed should not start raising its benchmark short-term interest rate from near zero until the labor market improves more.
U.S. unemployment has fallen to 5.8%, historically elevated but much lower than postrecession peaks. Some policy makers worry that number masks pockets of weakness including a large number of workers who are only working part-time because they cannot find full time jobs.
Many investors and top Fed officials expect the first rate increase in the middle of next year.
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Zara exposed for chronic racial profiling
If you’re a huge fan of shopping at Zara, the Spanish fast-fashion franchise, you may want to start spending your money...
If you’re a huge fan of shopping at Zara, the Spanish fast-fashion franchise, you may want to start spending your money elsewhere.
The fashion brand has been outed for its deeply engrained racist hiring and customer service practices in arecent survey conducted by the Center for Popular Democracy, a racial, economic and labor justice group. A random sample of two hundred-fifty one out of Zara’s 1,500 Manhattan employees participated in the survey and confided that Black customers are profiled as potential thieves seven times more frequently than white shoppers.
The study, entitled “Stitched with Prejudice: Zara USA’s Corporate Culture of Favoritism” and written by Chaya Crowder, also revealed that Black customers were also more frequently denied exchanges and returns than Whites. Customers weren’t the only people that were racially discriminated in Zara’s stores. Black employees claimed that they were given dissatisfactory hour assignments and stricter surveillance from managers.
“It’s kind of weird to me how they can make millions of dollars but are not able to pay people properly for their time, let alone give people the amount of time that they need in order to support their family, in order to keep a roof over their head, in order to, you know, just feed themselves.” One employee said:
The study had also found that darker-skinned employees were also less likely to promoted to managing roles and were often given less-prestigious roles. Sixty-eight percent of employees that were assigned roles in the back of the store and away from the public had darker complexions. Managers were generally White, and generally gave preferential treatment or were less lenient to subordinates of the same races and ethnic groups. The extent to which Black employees were profiled in their own work environment were sometimes highly disturbing, as portrayed in this incident:
“[O]ne Black employee even detailed an instance in which he had come in a hooded jacket to pick up his check. A sales associate not only identified him as a special order, but he was physically stopped as he was walking into the back office, where checks are kept.”
The study’s findings are not particularly surprising, given Zara’s history of being infamous for racial bias in the brand’s various operations. Just earlier this month, the franchised was served with a $40 million lawsuit from a former worker citing discrimination, unlawful discharge, retaliation and a hostile work environment. The brand also received bad press last year for racist images on its merchandise: pajamas featuring swastikas, a necklace with blackface designs, shirts with gold stars resembling those worn by the Jewish people once held in concentration camps in the Holocaust and a shirt with the words printed saying, “White is the New Black.”
According to Forbes, Zara featured the following statement:
“Zara USA vehemently refutes the findings of the Center for Popular Democracy report which was published without any attempt to contact the company. The baseless report was prepared with ulterior motives and not because of any actual discrimination or mistreatment. It makes assertions that cannot be supported and do not reflect Zara’s diverse workforce.
“Zara USA believes that the report is completely inconsistent with the company’s true culture and the experiences of the over 1,500 Zara employees in New York City. We are an equal opportunity employer, and if there are individuals who are not satisfied with any aspect of their employment, we have multiple avenues for them to raise issues that we would immediately investigate and address.
“Approximately half of all Zara USA employees are Hispanic or African American. In the most recent round of internal promotions at Zara USA, approximately half were Hispanic or African American employees. In addition, approximately half of all hours are regularly allocated to Hispanic or African American employees. These facts clearly demonstrate that diversity and equal opportunity are two of the company’s core values. We are a global multicultural company serving valued customers across 88 countries, and do not tolerate discrimination of any form.”
Welp. I know Zara won’t be seeing my money again anytime soon. It’s a shame, their pencil skirts fit me in all the right places…
Source: New Pittsburgh Courier
Reporte revela robo de salario sistemático en NY
NUEVA YORK — Un estimado de 2.1 millones de neoyorquinos son víctimas de robo de salario al año, lo que implica una...
NUEVA YORK — Un estimado de 2.1 millones de neoyorquinos son víctimas de robo de salario al año, lo que implica una suma de $3.2 mil millones en pagos y beneficios, según el reporte “By a Thousand Cuts: The Complex Face of Wage Theft in New York” delCenter for Popular Democracy Action (CPDA).
El estudio, calificado como el más completo desde 2009 por organizaciones defensoras de los derechos de los trabajadores, se fundamenta en entrevistas a expertos, quejas de víctimas de robo de salario, resultados de investigaciones recientes y estadísticas de los sindicatos más representativos.
Los hallazgos del CPDA sugieren que los empleadores recurren a métodos difíciles de detectar, probar y erradicar, como minutos no registrados en los relojes del lugar de trabajo, una deducción del 5% por cada propina y salarios por debajo del mínimo.
Un análisis de las estadísticas más recientes –diciembre de 2014- del Departamento de Trabajo de Estados Unidos (USDOL) encontró que en 2013, unos 12.700 trabajadores del estado de Nueva York recibieron un total de $23 millones en reembolsos por salarios robados, lo que representasólo el 2% del total de $1 mil millones en salarios robados para ese año.
Los autores del reporte, que estudiaron 11 casos específicos de trabajadores, encontraron que el estado de Nueva York pierde hasta $20 millones por semana en violaciones cometidas por empleadores que no pagan el sueldo mínimo.
Los trabajadores más vulnerables son aquellos que trabajan frecuentemente jornadas de más de 40 horas a la semana. Según la ley, los empleadores deben pagar una hora y media por cada hora extra luego de las 40 horas a la semana, pero en 2010 el 77% de los trabajadores de bajos ingresos no recibieron esta compensación, según un estudio del National Employment Law Project (NELP) citado por los autores.
El mexicano Ángel Rebollero (53), quien en octubre de 2014 alzó la voz por mejores condiciones de trabajo en Vegas Auto Spa, en Park Slope, contó que por casi una década no recibió el pago mandatario por las horas extras trabajadas.
“Los trabajadores inmigrantes somos los más expuestos a empleadores inescrupulosos, pero nuestras victorias laborales demuestran que unidos podemos cambiar las condiciones indignas en el lugar de trabajo”, comentó. “Muchos fuimos amenazados con la deportación. El miedo puede hacernos callar, pero no siempre estaremos en las sombras sufriendo el abuso”.
El reporte de la CPDA encontró que los empleadores comúnmente recurren a la intimidación, acoso, represalias y falsificación de récords de pago para perpetrar un robo de salario sistemático. Otro método común es la clasificación errónea de sus empleados como contratistas independientes, a fin de evitar el pago de impuestos sobre la nómina de sus empleados.
El Servicio de Impuestos Internos (IRS) estima que los empleadores clasifican erróneamente a millones de empleados cada año en el país, evitando en promedio cerca de $4.000 en impuestos federales por cada trabajador.
El CPDA advirtió de la reincidencia en las violaciones de las leyes laborales como un factor difícil de erradicar en la lucha por los derechos de los trabajadores. En los últimos cinco años, el USDOL ha registrado cerca de 400 casos de robo de salarios en el estado de Nueva York, en los cuales el empleador reincidió en las infracciones de las leyes que protegen a los empleados más vulnerables.
Entre los casos que analiza el reporte destaca el de los “carwasheros” de Vegas Auto Spa, quienes estuvieron expuestos a condiciones inseguras de trabajo y robo de salario.
Source: El Diario
What is a Good Job?
What is a Good Job?
Today marks the 78th anniversary of the Fair Labor Standards Act, the law that gave us the minimum wage and a host of...
Today marks the 78th anniversary of the Fair Labor Standards Act, the law that gave us the minimum wage and a host of other protections to protect workers from the most cutthroat tendencies of capitalism.
While the law is still on the books, its power is fading. The federal minimum wage today – unchanged since 2009 – doesn’t let workers afford the most basic essentials, from a mortgage to monthly groceries.
In Detroit, federal inaction has hit workers especially hard. Detroit is already one of the most marginalized cities in the country. Last year, we faced the largest number of tax foreclosures in U.S. history. Our schools are teetering on the brink of bankruptcy. And a recent Brookings study found Detroit has the highest concentration of poverty of the largest metro areas in the country.
While parts of Detroit have risen like a phoenix in recent years, with growing signs of life in the auto industry and a shiny new hockey arena, the reality is progress hasn’t reached the majority of the city and people of color have largely been left out of Detroit’s revival.
To give all workers in Detroit a chance to share in the city’s recovery, we must start with wages. The current federal standard of $7.25 an hour is pitiful – and Michigan’s state rate of $8.15 is hardly an improvement.
Meanwhile, a recent study from the National Low Income Housing Coalition found it takes $15.62 to afford a two bedroom apartment in Michigan. A single parent with two children in Michigan needs an income of $21.23 per hour year to meet basic expenses. In Wayne County, an individual must earn $14.40 to support a family of four.
Two years ago, a ballot initiative was launched to raise the state wage to $10.10 per hour by 2017 with the support of hundreds of thousands of Michigan residents. Through a series of legislative maneuvers, the measure was defeated and the current rate was put in place. A year later, lawmakers voted to ban municipalities from raising wages at the local level.
As Detroit stagnates, around the country, minimum wages are on the march. From California to New York, workers have won raises as high as $15 an hour. And the same workers have been demanding progress here.
But we should go even further than higher wages. We need jobs that give workers access to a better life, with full benefits, stable hours, and a commute that doesn’t take hours on the bus each way. To that end, we have been working to ensure Detroiters have a seat at the table with developers to ensure that jobs are going to Detroiters.
Growing up, my parents struggled with chronic unemployment and homelessness. We moved constantly, often living in houses without running water, electricity or heat. In high school, my mom began working at General Motors and was finally able to meet our most basic needs. I could finally attend school every day of the week. That job didn’t just lift our family out of poverty. It gave us back our dignity.
For far too long we have encouraged people to just take any job, no matter the pay or working conditions. That is not the American Dream. Nearly a century ago, the Fair Labor Standards Act tried to put that dream within reach of every American. It is now up to us to continue the fight to ensure the promise.
We know it will take a lot of resources, but with the community driving this effort, we will reach our destination – good jobs for every Detroiter. That’s how we’ll truly rebuild Detroit.
By eclectablog
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‘Patriot’ Dimon dodges calls to disavow Trump policies
‘Patriot’ Dimon dodges calls to disavow Trump policies
By Ben McLannahan Jamie Dimon endured a rough ride at the annual meeting of America’s biggest bank on Tuesday morning,...
By Ben McLannahan
Jamie Dimon endured a rough ride at the annual meeting of America’s biggest bank on Tuesday morning, as shareholders repeatedly attacked the JPMorgan Chase chief over his ties to the administration of Donald Trump.
In December Mr Dimon was named chairman of the Business Roundtable, a group of almost 200 CEOs which is among the most prominent lobbying groups in Washington. Mr Dimon, chief executive of JPMorgan for the past 11 years and chairman for 10, is also a member of Mr Trump’s strategic and policy forum, which meets regularly to shape the economic agenda.
At the meeting in Wilmington, Delaware, a succession of shareholders challenged Mr Dimon to publicly disavow some of Mr Trump’s policies, such as his curbs on immigration from predominantly Muslim countries and his building a wall on the border with Mexico. One shareholder noted that users had sent more than 4000 messages to a website, backersofhate.org, urging Mr Dimon to “distance himself from hateful policies of human suffering”.
After staying silent throughout several speeches from the floor, Mr Dimon defended the bank’s record on Mexico, its support for lesbian, gay, bisexual and transgender people, and its funding of private prisons.
Finally, he said of Mr Trump: “He is the president of the United States, he is the pilot flying the aeroplane. I’d try to help any president of the US because I’m a patriot. That does not mean I agree with every policy he is trying to implement.”
Mr Dimon has long been the most outspoken of the big-bank chiefs in the US, often using his shareholder letter as a platform for taking positions on matters of public policy, and for challenging the regulatory framework put in place since the 2008 crisis.
In the weeks after the presidential election, the 61 year old was approached by members of Mr Trump’s transition team to serve as Treasury secretary but declined, saying he was unsuited to the role, according to people familiar with the discussions.
As hostile questioning resumed after his remarks at the Tuesday meeting, Mr Dimon tried to lighten the mood, saying “you’re starting to hurt my feelings”. The shareholder admonished him by saying that just by hearing him out, the chief executive would earn more than $100.
“I hope it’s worth it!” said Mr Dimon, who was paid $28m last year.
“This is not a laughing matter,” the shareholder replied.
The meeting stood in contrast to the peaceful gathering at the Goldman Sachs building in Jersey City at the end of last month, when chief executive Lloyd Blankfein faced just two questions from the floor, both of them friendly. Mr Blankfein, who is also chairman of the board, closed the meeting within just 24 minutes.
Mr Dimon wrapped up Tuesday’s proceedings by saying the entire board “takes this feedback seriously”.
Ana Maria Archila, co-executive director of the Center for Popular Democracy, said after the meeting that until Mr Dimon takes a stronger stand her organisation would continue to associate JPMorgan Chase with Mr Trump’s “anti-immigration” agenda.
Ms Archila arrived in America 20 years ago to reunite with her father, who had fled political violence in Colombia.
“I don’t think we have a plan to really inflict economic damages on the bank just yet,” she said. “But what we do have a plan for, is to force them to clarify whose side they’re on.”
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