As the economic downturn progresses, American workers are facing a
disturbing rise in employers using credit ratings to determine job
worthiness. According to a 2006 survey by the Society for Human Resource Management,
the number of firms using credit histories to screen applicants rose
from 25% in 1998 to 43% despite such inquiries often being
discriminatory and even illegal.
New York's Attorney General, Andrew Cuomo, is in the midst of a two-year investigation into kickbacks paid to state political staff in exchange for the opportunity to
profitably manage the investments of New York State's public pension
fund. That investigation has now prompted a national effort with a multi-state task force and the Securities and Exchange
Commission working together to uncover rampant pay-to-play abuses.
Nationally there is over $2 trillion in US public pension assets.