Wall Street vs. Main Street -- What's next?
The economy is still in trouble! US foreclosures hit record highs in 2010, but that may not be the worst of it. 2011 may be even worse. Meanwhile, JP Morgan Chase exceeded market expectations, announcing a 47% rise in quarterly profits and released details on a $28.1 billion pay and bonus pool. Nomi Prins, a Senior Fellow at Demos USA and the author of "It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street" argued the recession is ongoing, and will continue unless the government steps in to help the American people, instead of continuing to funnel money to big banks and corporations.
The economy is still in trouble! US foreclosures hit record highs in 2010, but that may not be the worst of it. 2011 may be even worse. Meanwhile, JP Morgan Chase exceeded market expectations, announcing a 47% rise in quarterly profits and released details on a $28.1 billion pay and bonus pool. Nomi Prins, a Senior Fellow at Demos USA and the author of "It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street" argued the recession is ongoing, and will continue unless the government steps in to help the American people, instead of continuing to funnel money to big banks and corporations.
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