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"The industry that developed in Egypt is mainly an import from abroad. Not only were the machines imported, but also the capital, and just as the technique of Egyptian industry is the last word in ultra-modernity, so too is its organisation ultra-modern. The concentration of the enterprises and the tightening of the ties of mutual dependence between them, the rule of finance capital (the merging of industrial with banking capital under the hegemony of the latter), the merging of finance capital with the state – all these are fundamental features of Egyptian industry. And this ultra-modernity is based on an agrarian, barbaric economy, from which it draws its strength and weakness alike."

Egypt economy history capitalism industry banks tony_cliff

من الواضح أن أزمة السيولة اشتدت فى الجهاز الحكومى نتيجة قلة التدبير فى كبح جماح الإنفاق الحكومى والعجز المتزايد فى الموازنة، مما أدى إلى لجوء الحكومة بالضغط على السيولة المحلية بالجنيه المصرى وزيادة الاستدانة من الجهاز المصرفى من خلال أذون خزانة مما كان له الأثر البالغ فى رفع أسعار الفائدة.

egypt economy debt banks government

Real resources are always a true constraint for any economy.  This has become an increasingly important point over the last 10 years as commodity prices have surged.

economy oil banks market commodities capitalism

"What happens in New York, doesn't stay in New York. As Occupy Wall Street enters its fourth week, its power is resonating throughout Asia and Europe. Other key financial capitals, from Hong Kong to London, are joining the fray."

OccupayWallStreet Asia Hong_Kong protests Neoliberalism banks occupy_movement

in list: Occupy Movement

" it’s true that many major banks invest in companies that engage in the environmentally destructive practice of mountaintop removal (MTR) coal mining"

banks mining coal environment

"كشف تقرير صادر عن وزارة التخطيط عن اتجاه الحكومة إلي اقتراض نحو 87مليار جنيه من مدخرات القطاع العائلي لتمويل عجز الموازنة من خلال الاقراض والودائع في الجهاز المصرفي وشهادات الاستثمار‏,‏ ودفاتر التوفير‏,‏ بما يعادل 42%‏ من اجمالي المدخرات العائلية‏.‏"

economy banks debt loans deception Egypt

The power of concentrated corporate capital was on display in Washington last week, as it has been all year.  The incoming Chair of the Congressional committee responsible for banking regulation, Rep. Spencer Bachus (R-AL) says “my view is that Washington and the regulators are there to serve the banks.”  And President Obama sat down with the CEOs of 20 large corporations to talk about how he could help Big Business increase their already record profits.

corporatism banks power people USA

ulian Assange, perhaps THE man of the media moment, says that early in 2011 WikiLeaks will disclose documents so damning that their release could “take down a bank or two.”

Wikileaks banks bankers fraud financial_crisis USA

"Israeli banks provide the financial infrastructure for all activities of companies, governmental agencies and individuals in the continuing occupation of Palestine and the Syrian Golan Heights."

palestine Israel occupation banks

Nearly a dozen major banks and hedge funds, anticipating quick profits from homeowners who fall behind on property taxes, are quietly plowing hundreds of millions of dollars into businesses that collect the debts, tack on escalating fees and threaten to foreclose on the homes of those who fail to pay.

banks tax real-estate wall_street USA

"Greece is a microcosm of a modern class war rarely reported as such. "

greece financial_crisis EU europe capitalism theft banks protests austerity workers wages budget_cuts statesman

"A two-part investigative series called "Silencing the Whistleblowers" reports that when fraud investigators working within big banks tried to warn their superiors of shady practices, they were not only ignored, but frequently harassed, demoted or even fired."

financial_crisis mortgage banks investigation fraud capitalism democracy_now USA

"In interviews and in court records, 10 former fraud investigators at seven of the nation’s biggest banks and lenders—including Wells Fargo (WFC), IndyMac Bank, and Countrywide Financial—describe corporate cultures that allowed fraud to thrive in the pursuit of loan volume and market share."

financial_crisis wallstreet banks loan mortgage fraud capitalism slate wisteleblower USA

"In interviews and in court records, 10 former fraud investigators at seven of the nation’s biggest banks and lenders—including Wells Fargo (WFC), IndyMac Bank, and Countrywide Financial—describe corporate cultures that allowed fraud to thrive in the pursuit of loan volume and market share."

financial_crisis wallstreet banks loan mortgage fraud capitalism slate USA

"Eight banks are facing a US investigation into the rating of their mortgage products, the BBC understands. "

economy financial_crisis banks wallstreet mortgage investigation Goldman_Sachs Morgan_Stanley bbc USA

"Wall Street’s regulatory woes mounted on Thursday after it emerged that New York’s attorney-general had begun an investigation into whether banks misled credit rating agencies in order to obtain high ratings for mortgage-backed securities."

economy financial_crisis banks wallstreet mortgage investigation Goldman_Sachs Morgan_Stanley financial_times USA

"It is indeed inappropriate to “put the entire responsibility” and blame on Mr. Vgenopoulos for the depressing deaths of the three employees of the burnt Marfin bank."

greece workers financial_crisis banks capitalism protests austerity libcom.org

Neoliberal order reigns in the world. Stock markets are recovering from the crash in the fall of 2008. Private banks are no longer weighed down by bad loans that were added to public deficits. The latter were rising anyways because the economic crisis had sent tax revenues on a downward slide. Add further bailout money for financial companies and fiscal stimulus and you get a veritable fiscal crisis of the state.

greece financial_crisis Bailout workers Neoliberalism banks Socialist_Resistance EU

We the people have given away our sovereign money-creating power to private, for-profit lending institutions, which have used it to siphon wealth from the productive economy. Some states are moving to take that power back.

economy banks Michigan investment wallstreet yes_magazine USA

US corporations are beginning to release figures on CEO pay for last year. Multi-million dollar packages are the norm in a year that saw the continued deterioration in the living conditions of the vast majority of the population.

banks financial_crisis capitalism corporatism wsws.org USA