Co-director Center for Economic and Policy Research
David Swanson is the host
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At the Center on Economic and Policy Research (CEPR) in Washington, DC, Dean Baker serves as co-director. An assistant professor of Bucknell University and senior economist just at Economic Policy Institute have both preceded him in his career. Commentary about economic reporting can be found on the blog, Beat the Press. The University of Michigan awarded him a Ph.D. in economics.
Among his many publications are The United States Since 1980, published by Cambridge University Press in March 2007; A Conservative Nanny State: How well the Wealthy Just use Government to Stay Rich and The get Richer, published by the Center for Economic and Policy Research in 2006; Social Security: The Phony Crisis, published by the University of Chicago Press in 1999; and “Asset Returns and Economic Growth,” published by the Brookings Institution in the Brookings Papers on Economic Activity. The Center for Economic and Policy Research, in 2002.
In Keeping Prices: The Battle So over Consumer Price Index, he was awarded a Choice Book Award as one of best academic publications of the year by the American Library Association in 1997. His weekly online economic reporting commentary, the Economic Reporting Review, was published from 1996 to 2006 by him. As a consultant, he has served the World Bank, the U.S. Congress’ Joint Economic Committee, and the Organization for Economic Cooperation and Development’s Trade Union Advisory Council. The Atlantic Monthly, the Washington Post, and also the London Financial Times are just a few of the publications that have published his writings. The New York Times, Washington Post, CNBC, and National Public Radio are among the media venues where he is frequently mentioned in economics reporting.
The Bailout Plan of Henry Paulson, Secretary of the Treasury:
On Democracy Now!, Baker drew attention to this. The current bailout has the potential to punish rather than reward those who were responsible for it. In addition, it is possible to accomplish this without creating additional power for the executive department of our government.
The Backbone Campaign’s progressive ideas must be adopted by Congress in place of Paulson’s Plunder:
Those responsible for the problem or those who have benefited the most from it must bear the financial burden of doing so
As a condition for receiving a bailout, highly compensated CEOs’ total salary should be restricted or significantly taxed.
Tax on financial, insurance, and real estate transactions, including currency exchanges, imposed under the Tobin tax.
The government obtains an interest in the company equivalent to the amount of the bailout money.
Inheritance tax on hedge fund managers
In the UK, CEOs of bankrupt enterprises are fired and their severance payouts are repealed.
Impose a 10-percent five-year surtax on couples’ incomes above $1 million per year and single taxpayers’ incomes exceeding $500,000 per year.
Regulate in a way that ensures this does not happen again
Direct the Federal Reserve must act in order to prevent asset bubbles from developing.
Add new security categories to the list of things that must be held in reserve
In order to properly evaluate, rate, and price loans, it is necessary to regulate their packaging.
The government should regulate hedge funds & private equity funds in such a manner similar to the regulation of traditional financial institutions.
Incorporate Main Street into the bailout & invest productive economic environment C.
Refrain from foreclosing on homes, renegotiating loans, or implementing a rent-to-own programme.
The second step is to put Americans back to work, earning a living wage and contributing to their communities.
Clean energy, infrastructure and education and health care should be prioritised as a means of reinvesting revenues collected from the wealthy and from speculation.