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Democrats Revolt Against ‘Wall Street Giveaway’ In Deal To Prevent Government Shutdown (HuffPo)
Zach Carter and Sabrina Siddiqui quote Roosevelt Institute Chief Economist Joseph Stiglitz on why a provision that will bring risky derivative trades under FDIC protection is a disaster.
Warren Leads Liberal Democrats’ Rebellion Over Provisions in $1 Trillion Spending Bill (WaPo)
Senator Warren is calling on House Democrats to withhold support of the spending bill unless this derivatives provision is removed, report Lori Montgomery and Sean Sullivan.
Congress’ Backroom Pension-Cutting Deal is Even Worse Than Expected (LA Times)
Michael Hiltzik details the pension-cutting measure attached to the omnibus spending bill, which he says has far fewer protections for older retirees than originally implied.
The Wall Street Takeover of Charity (ProPublica)
Donor-advised charitable funds, which are run by financial firms, aren’t increasing charitable giving as much as they’re making money for the firms, writes Jesse Eisinger.
Walmart Illegally Punished Workers, Judge Rules (NYT)
Steven Greenhouse reports on a National Labor Relations Board decision in California, which found that Walmart managers had illegally intimidated workers for supporting unionizing efforts.
The Economic Threat to Cities Isn’t Gentrification; It’s the Opposite (Vox)
With gentrification comes a higher concentration of poverty, writes Danielle Kurtzleben, and increased economic segregation comes with less economic mobility.
New on Next New Deal
Roosevelt Institute Fellow Mike Konczal explains why Section 716 of Dodd-Frank was implemented in the first place, and why weakening it today would put the economy and taxpayers at risk.