In 2006, in the federal government's RICO litigation against major players in the tobacco industry, U.S. District Judge Glady Kessler issued an opinion containing over 4,000 findings of facts. She found that the government had shown by overwhelming evidence that the industry had maintained an unlawful racketeering enterprise and had lied about the health effects […]
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This shouldn't be news to regular readers, but last Friday's report reflects the risks associated with for-profit colleges. The report highlights high costs and low job placement rates. The Washington Post has the story.
A recent paper from the National Bureau of Economic Research points to a depressing feature of our society — the economic circumstances of a person's birth exert a pretty strong influence on where they'll end up. Or, as the headline in FiveThirtyEight puts it in its headline describing the trend: "Rich Kids Stay Rich, Poor Kids Stay […]
BBC News reports: HSBC has reached a $470m [] settlement with the US government and states related to dubious mortgage lending and foreclosure practices that contributed to the financial crisis. The agreement includes a $100m fine and $370m in consumer relief to borrowers. Investigations began in 2010 after HSBC was found to be signing off […]
Read this essay by acting FDA commissioner Stephen Ostroff on what the FDA is doing to get safe and effective generic drugs on the market promptly. The agency's efforts are important because the cost of generic drugs generally is far less than the cost of brand-name drugs. In particular, as Ostroff explains, the entry of a "first […]
Financially speaking, that is. Last Friday's episode of NPR's Planet Money goes inside the telemarketing scam based on the premise that workers can work from home and make a great living. The episode includes audio from an actual sales pitch to a woman taken in by the scam. The tactics are awful, but revealing. And […]
Despite the uptick in jobs over the last couple of years, one key respect in which the economic recovery is weak has been its failure to raise workers' wages. This week's January jobs report from the Labor Department is more encouraging on that front, reports the NYT: Last month, average hourly earnings rose by 0.5 percent, […]
Senator Patrick Leahy (VT) and Senator Al Franken (MN) introduced a bill Thursday that would strictly limit the companies' ability to impose arbitration clauses on consumers and workers. The Restoring Statutory Rights Act would prevent civil rights cases, employment disputes and other crucial lawsuits from being forced into arbitration. A New York Times article on […]
The Washington Post reports today that the food industry is pressuring Congress to block vermont' GMO-labeling law before it goes into effect in July. "The food industry wants Congress to pre-empt Vermont’s law and bar mandatory labeling of genetically modified foods before it goes into effect. They argue that GMOs, or genetically modified organisms, are […]
The Washington Post reports on two new airbag recalls: Automakers to recall 5M vehicles for another air bag problem Another problem has developed with automotive air bags, this one resulting in recalls of up to 5 million vehicles worldwide. Continental Automotive Systems says in documents filed with the U.S. government that moisture can get inside […]