Mr. Brian Moynahan is the CEO of the Bank of America. He was paid $16 million last year, a rise of 23% ($14.5 million was given him in stock and $1.5m in salary). This was after the bank’s share price fell 5.9% over 2015 and has fallen a further 29% this year. During 2015 Bank …
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Facebook has set aside more than $2bn (£1.4bn) to settle global tax disputes while refusing to give the British taxman a penny. Mark Zuckerberg’s company, which paid £4,327 in British corporation tax in 2014, is challenging an audit by the Inland Revenue into its operations between 2010 and 2014. The news drags the social networking …
Economists talk about tradeoffs, say between equity and growth, and everyone seems to assume that every policy has to have a trade-off, or downside, of some sort. But it is possible to find policies that promote two policies at once that don’t have disagreeable results. Larry Summers, now a professor at Harvard, in an article …
“It is inevitable that life will not just be very short but very miserable for those who acquire by great toil what they must keep by greater toil. They achieve what they want laboriously; they possess what they have achieved anxiously; and meanwhile they take no account of time that will never more return. New …
“The old Republican Establishment cynically has seen advantage in back-rolling and egging-on the Tea Party movement. Its members served as their shock troops in besieging the Obama White House, spearheading the war against Democrats, liberals and whomever dared challenge their plutocratic consolidation. In the process, they became captives to a diabolical force that they cannot …
