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...Despite widely televised Congressional hearings in recent weeks on financial reform, 75% of those polled expect Wall Street to return to dangerous activities. Americans clearly want action: some 62% believe financial regulations need to be tougher, and 67% want the government to force pay cuts on top executives at Wall Street firms that received government bailout money. It's a bit of a turnaround for a country that has been leaning toward the less-regulation-is-better model of government. Yet most people are still wary of giving Washington too much say in running businesses. The majority...
...Main Street vs. Wall Street. The divide is the worst I've seen in my 40 years of writing about finance. In a new TIME poll, 75% of the respondents say they believe Wall Street will revert to business as usual, 67% want the government to force pay cuts, and 59% want more government regulation. (See a PDF of TIME's exclusive poll data...
...many people on Wall Street are acting in an arrogant, clueless and tone-deaf way, huffily treating any criticism of their pay and practices and perks as an attack on the free-enterprise system. Wall Streeters like to say (and may even believe) that they're helping humanity - which occasionally happens, but only by accident - rather than being out to make the most money they...
...nuclear technology in principle, there remains political reality to consider. On June 26, the House of Representatives narrowly passed the American Clean Energy Security Act, which creates a “cap and trade” system to establish an economic disincentive for carbon emission by requiring polluters to pay a fine to the government or to other smaller polluters should they pass a certain emissions benchmark. As soon as the votes were finished being counted in the House, conventional wisdom declared the bill dead in the Senate, where it faces overwhelming opposition by Republicans and considerable opposition by Democrats...
...Times' charges are true, the revelations that Wali Karzai is a major drug trafficker who has been protected not just by his brother, but also by CIA operatives establish a chain of causality between the efforts of U.S. intelligence to obtain information and influence and drug monies that pay for an insurgency that has taken 53 American lives this month - the highest death toll ever for Americans in Afghanistan. Karzai denied both allegations, telling the Associated Press that the paper's report was "ridiculous."(See pictures of Afghanistan's dangerous Korengal Valley...