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Inefficient Wall Street Wastes $280 Billion A Year

Inefficient Wall Street Wastes $280 Billion A Year | Coffee Party News | Scoop.it

Wall Street seems to have learned a neat trick: how to make more money while producing less.


Between 1980 and 2010, the U.S. financial industry nearly doubled in size, relative to the overall economy. Yet in terms of what the financial industry actually produces -- liquidity, assets, anything of measurable benefit to society -- the sector appears to be doing less these days than it used to.


That, at least, is the contention of Thomas Philippon, an associate professor of finance at the New York University Stern School of Business whose 2011 paper -- "Has the U.S. Finance Industry Become Less Efficient?" -- is circulating the blogs this week.

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First Ebola case in New York, but city was well-prepared for it

First Ebola case in New York, but city was well-prepared for it | Coffee Party News | Scoop.it
New York City has been rigorously preparing for a potential Ebola case, so the diagnosis Thursday of a doctor who recently returned from Africa does not appear to have caught the city off-guard.
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How women voters are scrambling Senate races – in both directions

How women voters are scrambling Senate races – in both directions | Coffee Party News | Scoop.it
In Colorado and New Hampshire, women voters are moving toward the Republican. In Georgia and Iowa, they're moving toward the Democrat.
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Yes to GMO Labeling is Winning 49 to 44% in Oregon Despite Millions in Negative Ads

Yes to GMO Labeling is Winning 49 to 44% in Oregon Despite Millions in Negative Ads | Coffee Party News | Scoop.it
The measure would ensure that the labeling of genetically modified foods is mandatory.
The post Yes to GMO Labeling is Winning 49 to 44% in Oregon Despite Millions in Negative Ads appeared first on The Anti-Media.
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Mexico Crisis Deepens as Governor Resigns Over Disappeared Students | VICE News

Mexico Crisis Deepens as Governor Resigns Over Disappeared Students | VICE News | Coffee Party News | Scoop.it
A massacre of civilians in Guerrero led to Angel Aguirre's first stint as the state's governor, and now another potential massacre has led to his downfall.
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US increases security following Canada shooting (+video)

US increases security following Canada shooting (+video) | Coffee Party News | Scoop.it
Canada shooting: Following the fatal shootings at a Canadian war memorial, the US military upped security at the Tomb of the Unknowns at Arlington National Cemetery. The FBI and Homeland Security said the US had not received specific threats.
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A Bad Idea Gets Worser

A Bad Idea Gets Worser | Coffee Party News | Scoop.it
The worst idea in American politics is the proposed Balanced Budget Amendment to the Constitution. The second-worst idea is an elected judiciary.
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Why California's Drought-Stressed Fruit May Be Better For You

Why California's Drought-Stressed Fruit May Be Better For You | Coffee Party News | Scoop.it
Is California's severe drought hurting the nutrient content of fruit? No, preliminary data on pomegranates suggest. The fruit may be smaller, but packed with more antioxidants, tests show.
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Time to Rethink the War on Terror

Time to Rethink the War on Terror | Coffee Party News | Scoop.it
(Thom plus logo) When Eric Holder eventually steps down as Attorney General, he will leave behind a complicated legacy, some of it tragic, like his decision not to prosecute Wall Street after the financial crisis, and his all-out war on whistleblowers like Edward Snowden.
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Ebola Fears Turn Into an Epidemic of Racism and Hysteria

Ebola Fears Turn Into an Epidemic of Racism and Hysteria | Coffee Party News | Scoop.it
Thus far, there have been just eight confirmed cases of Ebola in the United States following an outbreak in West Africa.
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FBI Director Says Government Should Force Apple and Android to Share Encrypted User Data

FBI Director Says Government Should Force Apple and Android to Share Encrypted User Data | Coffee Party News | Scoop.it
Big Government is mad that 'Big Data' is reacting to customer demand and is beginning to encrypt user information.
The post FBI Director Says Government Should Force Apple and Android to Share Encrypted User Data appeared first on The Anti-Media.
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North Carolina on track to have costliest Senate race ever

North Carolina on track to have costliest Senate race ever | Coffee Party News | Scoop.it
The flood of advertising dollars into North Carolina symbolizes the growing influence of outside groups in political campaigns. Overall spending for the Senate race in the Tar Heel State could surpass $100 million.
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The Disgust Election

The Disgust Election | Coffee Party News | Scoop.it
Oligarchs hiding behind front groups — Citizens for Fluffy Pillows — are pulling the levers of the 2014 campaign. No wonder we feel revulsion.
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If GOP takes back Senate, will parties flip views on filibuster, again?

If GOP takes back Senate, will parties flip views on filibuster, again? | Coffee Party News | Scoop.it
A decade ago, Republicans were in the majority and Democrats in the minority, and their positions on the filibuster were the opposite of what they are today. 
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2014 will be the most expensive midterm election ever

2014 will be the most expensive midterm election ever | Coffee Party News | Scoop.it
The biggest growth area? Outside group spending.
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After The First Confirmed Case Of Ebola In New York City, Three Reasons For Optimism

After The First Confirmed Case Of Ebola In New York City, Three Reasons For Optimism | Coffee Party News | Scoop.it
There is reason to be optimistic that the disease will not spread and the people of New York City will be safe.
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A Senate and environment with Mitch McConnell in charge

A Senate and environment with Mitch McConnell in charge | Coffee Party News | Scoop.it
As the Congressional midterm elections rapidly approach, and the potential for a Republican take-over of the U.S. Senates settles in, some environmentalists are growing increasingly uneasy.
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Evaluating Ebola as a Biological Weapon

Evaluating Ebola as a Biological Weapon | Coffee Party News | Scoop.it
Although the media has speculated that terrorist groups might try to use the Ebola virus as a weapon, the disease is a poor agent for a biological attack.
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The New Challenge to Market Democracies: The Political and Social Costs of Economic Stagnation

The New Challenge to Market Democracies: The Political and Social Costs of Economic Stagnation | Coffee Party News | Scoop.it
William Galston explores the difficulties market democracies face in an era of diminished growth and a weakened middle class. Galston argues that if the West fails to address economic stagnation, other domestic and foreign policy issues will prove intractable. Economic stagnation means a continuation of gridlocked, zero-sum politics and represents a threat to democratic institutions, he writes.
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States Ease Interest Rate Laws That Protected Poor Borrowers

States Ease Interest Rate Laws That Protected Poor Borrowers | Coffee Party News | Scoop.it
Lawmakers in several states have voted to increase the fees or the interest rates that lenders can charge on personal loans used by millions of poor or financially struggling borrowers.
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Monica S Mcfeeters's curator insight, October 23, 4:58 PM

Is this a step in the total wrong direction? Anyone that has ever been caught in the borrower trap knows how hard it is to ever break that cycle. This will make it even worse to pull out of a debt. These companies have already been operating like bandits and vampires or mafia Godfathers.

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Concern Over New-Voter Registration In Georgia Ahead Of Election

Concern Over New-Voter Registration In Georgia Ahead Of Election | Coffee Party News | Scoop.it
A lawsuit in Georgia claims more than 40,000 voter registration applications are missing weeks before the November midterm election. Lawyers say they belong to new African-American, Latino and Asian-American voters.
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Monica S Mcfeeters's curator insight, October 23, 5:00 PM

In case you had not seen or heard of this here are the details.

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Trial over Navy silencer contract opens

Trial over Navy silencer contract opens | Coffee Party News | Scoop.it
Three senior Navy civilian officials testified Monday that they never authorized $1.6 million for a secret operation to buy hundreds of rifle silencers for the Navy SEALs and were instead told the money would be used to pay for intelligence studies...
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Labor Union to Spend “Six Figures” on Libertarian Party Candidate for IL Governor

Labor Union to Spend “Six Figures” on Libertarian Party Candidate for IL Governor | Coffee Party News | Scoop.it
In Illinois, the 2014 governor’s race is heating up in anticipation of election day on November 4. The race pits incumbent Democratic
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