Goldman Sachs’ Outrageous Scheme to Profit Off Jailed Young Offenders

  Too-big-to-jail Wall Street is ripping off taxpayers with a “social impact bond.”       Photo Credit: Shutterstock.com In 2012, Mayor Michael Bloomberg announced that New York City would be the site of a new experiment very dear to his billionaire’s heart. He declared that Wall Street megabank Goldman Sachs would provide a loan of nearly $10 million to pay for a program intended to reduce the rate at which adolescent men incarcerated at Rikers Island reoffend after their release (currently almost half reoffended within a year). The city government was short of money, so Goldman Sachs would step in to do what … Continue reading Goldman Sachs’ Outrageous Scheme to Profit Off Jailed Young Offenders

Militant Corporate Fascism!

The New Fascism: Terms and Conditions Let’s talk about those pesky terms and conditions. Last month, I had a chance to talk with John McAfee, the founder of the popular McAfee computer security programs. We talked about how people usually don’t read the terms and conditions of the smartphone applications that they download onto their phones. But McAfee did read the terms and conditions of the Bank of America smartphone application, and what he saw was pretty shocking. McAfee told me that, by agreeing to the terms and conditions for the Bank of America application, “You give the Bank of America … Continue reading Militant Corporate Fascism!