Why Didn’t Regulators See Silicon Valley Bank’s Collapse Coming?
A law enforcement official stands in an entryway to a Silicon Valley Bank branch location, Monday, March 13, 2023, as customers and bystanders line up outside the bank, in Wellesley, Mass. Steven Senne/AP Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.Last week, Silicon Valley Bank, one…
Funding Social Security Is a Lot Cheaper Than Coddling Rich Retirees
Mark Felix/The Washington Post/Getty Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.On Thursday, the Social Security Administration announced its largest cost of living adjustment for beneficiaries in four decades, an inflation-driven raise of 8.7 percent that will take effect in January 2023. That increase matches the…
The Biden Administration Just Proposed a Rule That Could Change Work for Millions
Nam Y. Huh/AP Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.On Tuesday, the Department of Labor released a new proposal for determining whether independent contractors are employees, according to the New York Times. The measure would be a small but significant lowering of a Trump-era standard that could…
State and Local Taxes Make Inequality Much Worse
Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.This story was published in partnership with the Center for Public Integrity. As she opened her $1,600 property tax bill in February, Edith Baltazar suddenly lost her appetite for the eggs she’d prepared for lunch with her daughter. Her…
Federal Reserve Chair Says Fighting Inflation Will “Bring Some Pain to Households and Businesses”
Federal Reserve Chairman Jerome Powell speaks at a press conference in Washington on July 27, 2022. Kyodo/AP Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.During a closely watched speech on Friday morning, Federal Reserve Chair Jerome Powell made it clear that there’s still work to be…
No, Student Debt Relief Won’t Stoke Inflation
It’s simple: without all that debt, you won’t be able to afford things.Mother Jones illustration; Getty Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.On Wednesday, President Biden announced his much-anticipated plan to lighten the $1.6 trillion student debt burden that hangs over 45 million borrowers. Under…