News & Updates

By Jillian Berman

Read the article at the Huffington Post.

We know, you just bought that copy of Playboy for the Paul Krugman interview.

The Nobel Prize-winning economist and New York Times columnist may not be center-fold material (or maybe you're into that middle-aged bearded wonky economist sort of thing? We're not judging), but he's using the iconic magazine to discuss his views on the sexiest of topics, you guessed it: the financial crisis. (Read the full Playboy interview here, by the way.)

"It's hard for me to believe there were no crimes," Krugman told Playboy. "Given the scale of [the financial crisis], given how many corners were being cut, some people must have violated laws. I think people should be in jail."

Krugman's sentiment echos other critics who say that those responsible for bringing the U.S. to the brink of financial collapse aren't being held accountable for the havoc they wreaked. Objectively speaking, federal prosecution of financial fraud fell to a 20-year low in 2011, according to a report released in November. The Occupy Wall Street movement, which Krugman said in the interview has "done a great service," has highlighted these concerns and as public anger grows government agencies have taken some action.

Could the reckoning be upon us? The Securities and Exchange Commission may file a lawsuit against some of the nation's biggest banks over whether the banks knew that they were selling bonds backed by shoddy mortgage loans in the lead up to the financial crisis, according to a Wall Street Journal report earlier this month.

In addition, the Justice Department is going to bring charges against four Credit Suisse traders, alleging that they committed fraud four years ago. But that's an action that some say isn't prosecuting those at the heart of the problem.

By Glenn Farley

Watch the video at King5.com.

The Port of Seattle says the strike by hundreds of truck drivers is having an impact and the movement looks like it keeps growing.

The more than 100 drivers picketing outside the Union Pacific rail yard Thursday say they need to make more money and need to be safe doing it. 

"I do have a family," said Dawit Mekonnem.  "We are owner operators. We use our own truck,  fuel everything." 

After expenses like $200 oil changes, $400 tires and $500-a-week in fuel, not to mention taxes, Mekonnem makes just about $15,000 in a year.  The drivers say to make things safer they need to make more than $40 or $50 a load. 

Mekonnem's 1999 freightliner has sit parked on a South Seattle street for nearly two weeks. And it's not alone. 

Containers are moving at the port.  While, the drivers claim more than 450 of them are on strike, thousands of others are not, at least not yet.  But there is an effect and the port worries cargo could end up going elsewhere eventually costing jobs. 

"We're seeing a larger impact than just the pure number of drivers who might not be showing up for work," said Seaport Managing Director Linda Styrk. 

If the strike continues or expands, hard won port business could go elsewhere.  

"But if they don't have certainty about where things are headed, that increases their risk factors and they reassess their situation," said Styrk.  

That means more of the things you buy could go divert through the  Port of Tacoma, which loads more rail cars directly on the dock.   Ports in California and Canada could also end up with that business and that means fewer trade related jobs in Seattle. 

"I think it happens to be a weak link in a chain," said Port Commissioner Rob Holland.