Part 2: http://au.youtube.com/watch?v=whVSw5X2pVUDocumentary on the events that led to the economic collapse of Argentina in 2001 which wiped out the middle ...
The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.
As the privileged class loses its privileges, a collective moan rises from the canyons of Wall Street.
Two mind-numbing fast-paced dramas. Two parallel worlds. One real, one fiction, both deadly.
Today is May Day, and while International Workers' Day (Labour Day in the UK), means little in the USA, its a big holiday in Europe. Banks and markets are
How do the same banks that have repeatedly come to Washington over the last eight months asking for billions to rescue them from their catastrophic mistakes, somehow still "own the place"?
And it's not really good for the Treasury either.
How could an ultra-rich hedge fund manager know what it means to experience real, permanent failure?
It’s early to be projecting record high bonuses, says Dan Colarusso. Though the bank had a terrific first quarter and has played its hand almost perfectly since the financial crisis began, Goldman isn’t the paragon it once was.
A radical newsletter in the struggle for peace and justice.
Paulson's posture has been consistently maintained by the "masters of the universe" since the onset of the economic crisis: privatize the profits (especially after radical deregulation) but socialize all losses.