“The Way Insurance Companies Have Rigged Our Health Care System, They’re Probably Going to Emerge as Financial Winners from This”

Author and former health insurance executive Wendell Potter explains to ProMarket why the employer-based health care system in the US is “collapsing” and why health insurance companies see the Covid-19 crisis as a “net saving.”  

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The Stimulus Package Is Too Expensive and Poorly Targeted: The Waste Contained in the CARES Act

A cost-effective stimulus to mend the effects of a 24 percent drop in GDP would cost no more than $1.3 trillion over a 6-month period. The bill that Congress just approved is much bigger because it allocates resources to people who are not necessarily affected and rescuing businesses, like Boeing, that are in trouble for pre-existing reasons.

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Chile Reaches Its Greenspan Moment

“I am in a state of shocked disbelief,” former Federal Reserve chair Alan Greenspan said during the 2008 crisis, before confessing: “I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works.” Today in Chile, the same business coalitions that have always demonized state intervention are asking for help: Will they admit their approach was as flawed as Greenspan’s? 

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America’s Broken Health Care System Is the Biggest Obstacle to Containing the Coronavirus

Over the past few weeks, it has become abundantly clear that the US health care system is uniquely ill-equipped to deal with a crisis of this magnitude. For years, physicians, economists, and health advocates have warned that the American health care system is a disaster in waiting. Now the disaster is here.  

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Economics, Law and Finance Professors from Major Universities Write to Congress : “Bail Out People Before Large Corporations”

“Bailouts allow investors to keep all the profits in good times without bearing the losses in bad times. Instead, bailouts impose losses on taxpayers, including those most in danger of losing their paychecks,” over 230 leading economists argue in a letter to Congress regarding the $2 trillion package that’s meant to mitigate the economic impact of the coronavirus outbreak. 

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The Covid-19 Bailout That Big Business Is Lobbying for Could Make America Unrecognizable

Supporting industries is necessary to mitigate the economic impact of the pandemic. But using the coronavirus as an excuse, Boeing and other companies are trying to get taxpayers to foot the bill for their managerial errors. It is not too late to put a limit on corporate subsidies.

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Stick, Carrot, and Evergreen Loans: A Policy Proposal to Save Small and Medium-Sized Firms

Restaurant owners, retailers, and the like employ more than 50 percent of the US workforce, yet neither have cash buffers nor access to Federal Reserve support. In the present situation, we do not need to stimulate new business and spending. Instead, policy nowadays should be aimed at stabilizing impaired balance sheets and avoiding business closures via evergreening.

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“Monetary Awards Are Not the Only Reason Why Whistleblowers Report Corporate Malpractice”

At the SEC, Jordan Thomas had a leadership role in developing the program to protect and reward employees who report corporate wrongdoing. Now, he is a lawyer who exclusively represents SEC whistleblowers: “The award is not the only driver, nor the primary driver, but it is an important factor to help people feel comfortable in coming forward”.  

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Virus-Enhanced Market Power: American Small Businesses Are Kept Hostages by Amazon

Amazon announced restrictions on the type of merchandise it will allow sellers and vendors to send into its warehouses because Amazon’s fulfillment services (FBA) has reached its maximum capacity in light of the evolving crisis. Amazon’s failure to make necessary adjustments might jeopardize the economic prospects of tens of thousands of firms that rely on its platform on the eve of a recession.

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