Chickens are now coming home to roost in the housing market. Option ARMs have risen from under 1 percent of deals in the ’90s to at least 12.5 percent in 2005. Business Week likens option ARMs to the neutron bomb: the people are blown up but the houses are still standing.
The Republican leadership of the House of Representatives is pushing hard to get HR 4437, Rep. James Sensenbrenner’s vicious anti-immigrant bill which spurred this year’s huge immigrant rights marches, approved piecemeal by the House and Senate and signed into law before the November elections.
New York Times columnist David Brooks weighed in on the origins of inequality in his column recently. While he wants to assure readers that inequality is not a serious issue, and not caused by policy, he gets almost everything in his article wrong.
The legal struggle for the freedom of the Cuban Five continues, despite a recent adverse appeals court ruling. Defense lawyer Leonard Weinglass, however, has called for enlarging the political fight.
With precious little else to run on, the GOP has decided to base its midterm election campaign largely on the bogey of “illegal immigration” as a domestic equivalent to Bush’s pro-war and fear propaganda.
The United States may be the world’s only military superpower, but attempts by the Bush administration to get its way in northeastern Africa are meeting with resistance.
As far as I can tell (I was not there), U.S. Sen. George Allen (R-Va.) was stone cold sober last Friday when he managed to call an opposition supporter of South Asian extraction a monkey.
An uprising of Democratic voters in Connecticut delivered a stunning victory to peace candidate Ned Lamont over three-term incumbent U.S. Sen. Joe Lieberman in the Aug. 8 primary. It was a revolt against the policies of the Bush administration and the Republican-controlled Congress.
Connecticut Democratic voters took a dramatic stand that shook the nation in last Tuesday’s primary. Their vote to send Joe Lieberman home and put Ned Lamont in the U.S. Senate changes the political landscape and adds to the growing upsurge in the country
From 1961 to 1999, Victor Perlo’s “People vs. Profits” column in the Daily World and the People’s Weekly World set the standard for a Marxist analysis of U.S. capitalism.