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Occupy Wall Street? Just Defund It.
By: Steve Pearlstein, Washington Post
A century ago, Louis Brandeis, a distinguished Boston lawyer who would later go on to the Supreme Court, wrote a series of articles in Harper’s Weekly denouncing what he called the “financial oligarchy” on Wall Street that had effectively seized control of the burgeoning industrial economy.
The investment banks at the center of this oligarchy, he argued, were not content simply trading securities, in which they took the “inconsistent” position of being buyer and seller. They also had cornered the market on “manufacturing” and “distributing” securities, earning huge fees in the process. The partners in these firms earned incomes derived not by “the rule of reason” but from the maxim “all that the traffic will bear.” Sound familiar?
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NSAC Report: NCBA Annual Conference
In early October, I had the opportunity to represent NSAC at the National Cooperative Business Association’s (NCBA) Annual Meeting & Cooperative Conference.
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Let's Work Together for International Year 2012
Pauline Green, ICA President, says a targeted public awareness campaign to promote co-operatives is at the core of the International Co-operative Alliance’s efforts in 2012.
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FASB Issues a New ASU on Multiemployer Plans
The Financial Accounting Standards Board (FASB) today issued Accounting Standards Update No. 2011-09, Compensation—Retirement Benefits—Multiemployer Plans (Subtopic 715-80): Disclosures about an Employer’s Participation in a Multiemployer Plan.
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