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WASHINGTON – Recent earnings reports from Citigroup, Goldman Sachs and Wells Fargo showed revenue for the first part of January, but were stark lessons in the ways accounting rules can be employed to obfuscate losses.

Borosage: “Devil is in the details, and the people”; warns modern-day “Pecora Commission” must have broad powers and tough leadership

WASHINGTON – Campaign for America’s Future co-director Robert Borosage today praised House Speaker Nancy Pelosi’s announcement that she will form a commission to investigate what happened on Wall Street to cause the economic collapse, but warned that the “devil is in the details, and the people.”

The federal tax code has become increasingly unfair over the past 30 years, giving wealthy individuals more breaks than middle- and low-income Americans, according to a new report released today by the Campaign for America’s Future. The report shows that the tax rates on the top 1 percent dropped significantly since 1980, while the relative tax burden on the middle 60 percent has increased.

WASHINGTON - The election of President Obama shows how far America has progressed in overcoming the racial divides that for so long scarred this country. But while overt racism is less and less acceptable in America, unconscious racial bias still plays a large role in our politics and society, as a new project launched today by the Institute for America's Future seeks to explore.

With Congress preparing a sweeping overhaul to the nation’s health care system, Jacob Hacker was the first today to outline details on how the nation can structure and implement a public health insurance option as part of the overall reforms. Hacker joined Institute for America’s Future co-director Roger Hickey at a news conference today to release a new report that provides a comprehensive roadmap to create a public health insurance plan within the nation’s health care system.

WASHINGTON – Campaign for America’s Future co-director Robert Borosage, in Brussels this week for the Global Progressive Forum, said the additional global stimulus is a dramatic and vitally needed initiative.

WASHINGTON – Campaign for America’s Future co-director Roger Hickey said that the federal budget passed by President Obama’s allies in the U.S. House marks a major shift from the failed policies that got us into this economic mess.

Students from low and middle class backgrounds would benefit significantly from the higher education proposals contained in the President’s budget, according to leaders of the Campaign for College Affordability. In a report released today by the Institute for America’s Future and USPIRG, more than 260,000 additional students across the country would receive Pell grants if excessive lender subsidies are cut.

WASHINGTON – Campaign for America’s Future co-director Robert Borosage today denounced as “disgraceful” the plans of a group of Democratic senators led by Sen. Evan Bayh, D-Ind., to slow, alter or stop progressive measures championed by President Barack Obama. Sen. Bayh announced the creation of a caucus that includes a dozen senators and “three or four others” who “don’t want to be publicly identified yet” this morning. Borosage says this group must be challenged if they do not support President Obama’s agenda.

WASHINGTON – The Massachusetts health care reform plan resulted in nearly universal coverage but fails as a model for national health reform on a number of counts, according to a new report released today by the Institute for America's Future. The report by Diane Archer, co-director of the Institute for America’s Future’s health project, finds that the Massachusetts model fails to control costs or guarantee quality, affordable health care for all.