Great Depression

The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in 1930 and lasted until the late 1930s or middle 1940s. It was the longest, deepest, and most widespread depression of the 20th century.In the 21st century, the Great Depression is commonly used as an example of how far the world's economy can decline. The depression originated in the U.S., after the fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday).
Posts about Great Depression
  • Guaranty Bank – FDIC Closure and Whistleblower Post

    … on for years. Whistleblower Awards for Bank Fraud or Misconduct In 1989, Congress passed the Financial Institutions Reform, Recovery and Enforcement Act – FIRREA for short. When originally passed, Congress hoped the law would be used to prosecute small town bankers who frequently used the bank as their own personal piggy bank. Bad loans were rampant…

    Due Diligence- 34 readers -
  • PNC Pays Mortgage Loan Officers $16M – Overtime Lawsuit

    … working long hours. Hours that exceeded 40 per week. In some instances, loan officers worked so many hours that at $24,000 salary, they didn’t even make minimum wage! PNC settled the case for $16,000,000 and was not required to admit liability. The settlement order says, “PNC denies all of the allegations made by the Plaintiffs…

    Due Diligence- 28 readers -
  • Wage Theft Post – Getting Paid for Travel and Commuting?

    … to the exceptions. The FLSA sets forth a federal minimum wage and requires most workers be paid at time and one half rates if they work more than 40 hours in a 7-day work period. (Some unscrupulous employers try to declare all workers to be “managers” or tell workers that because they are salaried, they are exempt from overtime. Don’t believe it. If you have…

    Due Diligence- 9 readers -
  • What Does Enterprise-Rent-a-Car and a St Louis Hotel Co. Have in Common?

    … on the property and were required to work around the clock. When a employer engages in wage or overtime theft, the FLSA allows workers to receive double back pay. The employer must also pay the workers’ legal fees. In this case, SASAK settled by agreeing to pay $200,000 to 51 workers. The average worker will get approximately $4000. In settling the case, SASAK…

    Due Diligence- 17 readers -
  • Feds Find 2000 Ag Workers Owed Wages – FLSA Wage Theft Post

    …. This is especially true of migrant workers who move from job to job. FLSA and the Migrant and Seasonal Worker Protection Act Congress passed the Fair Labor Standards Act – FLSA – in 1938 during the Great Depression. The law assured that most American workers would receive at least a minimum wage, pay for all time worked and overtime at premium…

    Due Diligence- 15 readers -
  • TX Property Managers Accuse Employer of Overtime & Wage Theft

    … was finally beginning to climb out of the Great Depression. The law promised that workers would receive a minimum wage, would be paid for all hours worked and be eligible for time and one half pay for any hours over 40 in a 7 day period. Like all federal laws, there are some exceptions including outside, commissioned sales people. If wage theft is proven…

    Due Diligence- 18 readers -
  • Trucking Co. Customer Reps Win Back Overtime

    … by a single employee, Barbara Flores. She filed her overtime suit in April 2014. Swift challenged the class action and claimed that many of its customer service representatives had signed arbitration agreements in which they gave up their right to sue. Even though the costs were far higher, Swift elected to force many of the employees…

    Due Diligence- 12 readers -
  • Uber Driver Was Granted Unemployment Benefits

    … granted such benefits to an independent contractor. Patrick Ely, a resident of San Diego, received questionnaires from the California Employment Development Department to determine whether he might be legally considered an employee of Uber. The questions he had to answer were meant to establish the nature of his relationship with the company from…

    Due Diligence- 31 readers -
  • Are Church and Religious Workers Covered by the FLSA?

    … Congress enacted the Fair Labor Standards Act (FLSA) in 1938 as America was beginning to recover from the Great Depression. After years of unemployment, workers would often take any job offered no matter how little they were paid or deplorable the conditions. Knowing this, Congress wanted to include as many workers as possible within…

    Due Diligence- 25 readers -
  • Chamber’s Dumb Arguments Against the Overtime Rule

    …, that have long been playing by the rules and paying their workers fairly have little to fear. For those that try to circumvent workplace wage and hour rules, however, the expenses could be great. As of this writing, the Department of Labor is poised to introduce the new overtime rules at any moment. The Chambers, however, are busy working Capitol…

    Due Diligence- 23 readers -
  • Schumer Finds False “Made in America” Goods

    … as American made on the GSA Advantage website. The GSA has begun reviewing Senator Schumer’s allegations. The government purchases so many things, however, that auditing every product the GSA sells is virtually impossible. Schumer originally became involved when one one of his constituents complained about unfair competition. Sherrill Manufacturing…

    Due Diligence- 8 readers -
  • Has Wall Street Changed?

    … excessive risk taking and hold Wall Street accountable.” The banks were making their own promises too. In 2010, new Bank of America CEO Brian Moynihan said the bank had turned the corner from the “excesses of the economic crisis.” So what happened? The Justice Department got off to a slow start but ultimately hammered Wall Street and collected…

    Due Diligence- 26 readers -
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