THIS MORNING’S PROGRESSIVE ECONOMIC NEWS
“In an open letter published Thursday, 52 professionals from the financial sector urged the U.S. Congress to pass legislation mandating a tax on financial transactions,” begins a piece in IPS News, out of Rome this morning. “The letter’s signatories, in a notable break from the sector, include seven former executives of Goldman Sachs and JP Morgan, two of the United States’ largest players in the financial services industry. They also include several hedge-fund operators and four current and former heads of European banks.”
Can it be that there are banksters with a conscience, after having crippled the world’s economy with their trading scams? This tax is sometimes called by progressives a “Robin Hood” tax, because it brings the 1%, who own 80% of the investments, into a share of responsibility for their actions. Congress, on its knees kissing bankster butt for the campaign bribes, needs to hear about this.
In other progressive economic news, the people of Mauritius have moved their economy to a fair trade status, certifying that decent labor and environmental standards are behind the goods they produce. We urge our readers to buy fair trade goods when they can, a wonderful step toward creating a better world, ending slave labor, and contributing to saving our planet.