Portside

Microsoft Corp. is currently sitting on almost $29.6 billion it would owe in U.S. taxes if it repatriated the $92.9 billion of earnings it is keeping offshore, according to disclosures in the company's most recent annual filings with the Securities and Exchange Commission. Such maneuvers -- although often legal -- threaten to signficantly reduce U.S. corporate tax receipts during an era marked by government budget deficits.

Central banks are on a global corporate buying spree not to bail out bankrupt corporations but simply as an investment, to compensate for the loss of bond income due to record-low interest rates.

Reader Comments - Iraq; Ruby Dee; Cecily McMillan and Wall Street; Ukraine; Detroit Shuts Off Water to Thousands; Working Families Party; Civil Rights Movement; Children's Literature and Diversity; Common Core; Testing; Support Philly Jewish school teachers; Gabriel Kolko; Hatriot Politics and Las Vegas Killers; Argentina and US Banks; The Presbyterian Church and Divestment; Net Neutrality; Historic Slave Cemetery Bulldozed In Houston; Freedom Summer 2014

How Wall Street Skims Higher Education. Richard Pryor & Maya Angelou. Documentary: Citizen Koch. John Lee Hooker, Bonnie Raitt, "I'm In The Mood." John Oliver: Stop Cable Company F**kery.

These are the first two parts of a four-part interview with Costas Lapavitsas focusing on the Era of Financialization and the transformations at the “molecular” level of capitalism that are driving changes in economic performance and policy in both high-income and developing countries. Lapavitsas is a professor of economics at SOAS, University of London, and the author of Financialised Capitalism: Expansion and Crisis (Maia Ediciones, 2009)

How Obama can save USPS and ding check-cashing joints.

Many subprime borrowers were led straight into the debt buzz-saw by companies that were actively trying to "squeeze" every last bit of revenue out of their clients. There were people who qualified for prime loans who got nudged into more lucrative alternative loans, and people who had simple 30-year fixed mortgages who found themselves frantically trying to pay off unforeseen penalties.

A few years of experience with the Volcker Rule will probably be enough to demonstrate that it’s insufficient to change the behavior of JP Morgan and the banker gang.