The Majority Report with Sam Seder

Marshall Steinbaum (@Econ_Marshall), the Research Director & Fellow at the Roosevelt Institute joins us to detail the demise of Sears and explain the state in our current financial system. Steinbaum lays out how the wealthiest parties in the economy use their legal standing to maximize profits at the expense of the company's financial health. At the heart of the Sears bankruptcy is the company's CEO Eddie Lampert. Lampert loaded debt onto the foundational parts of Sears' business while spinning off the corporation's most profitable pieces to his own hedge funds when the bills came due. This financial business model has grown over the past several decades as judicial interpretations have loosened antitrust laws, allowing corporations to be increasingly profitable for a smaller and smaller class of shareholders. Steinbaum and Sam also discuss Amazon's big PR push for $15 an hour raise and why third-party contracted workers may not receive the newly raised salary.

And in the Fun Half: Sam's disappointing softball stats, Ralph Nader is open to Bloomberg 2020, How Sam should debate Charlie Kirk, Scott Walker wants to gut the ACA but has a family with preexisting conditions, NY WFP gives its line to Cuomo, Eddie Glaude explains how "Campus Free Speech" is a conservative cottage industry, the racist TPUSA chapter at FIU, how does a Sanders campaign differ from a Warren campaign, Patriot Prayer and the gun cache in Portland, a caller describes working for Alex Jones, how Eddie Lampert is also taking Sears Canada for ride, Florida races will come down to the wire, plus your calls and IMs!

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Direct download: 10-16-18-Marshall_Steinbaum-pub.mp3
Category:general -- posted at: 3:08pm EST