Last week, we were treated to a chorus of business voices disavowing President Trump’s decision to withdraw from 2015’s landmark Paris climate accord. While it’s nice to see business leaders voice support for action on climate change, it’s difficult to take their lamentations seriously when many of them are funding the very group that paid for a now-debunked study used by President Donald Trump as justification for quitting the Paris Agreement.
Last November, when GlaxoSmithKline (GSK) first announced that it had reached a $3 billion settlement with the federal government to resolve allegations of fraud stretching back over a decade, the response on Wall Street was revealingly muted, with the company’s stock actually rising following the announcement. Les Funtleyder, health care strategist with the New York brokerage firm Miller Tabak, captured the sentiment on Wall Street succinctly in an interview with The New York Times: “This is a well-worn path for big pharma.”
Revisiting the lessons from deregulating derivatives is particularly important right now because Congress seems to have forgotten them. A report we just issued provides a road map of how derivatives wrecked the economy in 2008 and could do so again if Wall Street gets its way.
As corporate money continues to flood our democracy in the form of negative campaign ads and robo calls, people are getting mad and are taking action. This week, corporate CEOs are being put on notice as rallies and other actions are planned in relationship to first-time shareholder resolutions being put forth at 3M and Bank of America’s annual shareholder meetings.
One year after a U.S. Supreme Court decision gave corporations free rein to block class action lawsuits, judges have used the decision to prevent at least 76 potential class-action suits from going forward, a new report by Public Citizen and the National Association of Consumer Advocates (NACA) has found.
The grassroots movement for a constitutional amendment to return control over our democracy to We the People got a big endorsement from more than a dozen members of Congress on Wednesday.
If you're not a campaign finance wonk, then you may not have noted that a significant anniversary will arrive on this weekend on January 21st. Citizens United vs. FEC.
With 43 lobbyists and a federal influence-peddling budget of at least $35 million this past election cycle, Chevron must have an ambitious agenda for the politicians in Washington, DC. The company just paid $4.3 billion to acquire Atlas Energy and its extensive holdings in Pennsylvania’s Marcellus Shale so first and foremost on the company’s agenda will be fighting any efforts to have the federal government regulate hydraulic fracturing. Second, Chevron produced 260,000 barrels of oil and natural gas per day from the Gulf of Mexico, so preventing Congress from reforming offshore drilling rules in the wake of the BP disaster will be key. Third, Chevron will join forces with the U.S. Chamber of Commerce and others to demonize pending Environmental Protection Agency (EPA) rules limiting greenhouse gas emissions, and continue opposing efforts for the U.S. to lead the way in battling climate change. Fourth, look to Chevron to help lead the chant of “Drill Baby Drill!” as the company seeks to exploit the Presidential race to open new areas to oil and natural gas drilling. Fifth, expect the company to take evasive action against efforts to revoke billions of dollars in oil company tax breaks and royalty relief. Finally, Chevron will probably seek to protect investments overseas from meddlesome foreign government actions on prioritizing the environment and workers’ rights by getting the U.S. to enact favorable trade agreements.