By Michael HudsonU.S. and foreign stockmarkets continue to zigzag wildly in response to expectations about whether theeuro can survive, in the face of populations suffering under neoliberalausterity policies being imposed on Ireland, Greece, Spain, Ita…
December 22, 2011, 5:00 am
No One Is Above the Law
By SIMON JOHNSON
Simon Johnson, the former chief economist at the International Monetary Fund, is the co-author of “13 Bankers.”
The American ideal of equal and impartial justice under law has r…
Can we all agree that a $1 billion swindle represents a lot of money, and the fact that Citigroup agreed last week to pay a $285 million fine to settle SEC charges for “misleading investors” demonstrates a damning admission of culpability?
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Coverage increased and politicians ran for cover. Mayor Bloomberg, who had initially (and preposterously) portrayed the occupiers as a threat to the financial industry’s lower-income service workers, gingerly observed that some unspecified “people…
The Rise of the Regressive Right and the Reawakening of America
Sunday, October 16, 2011
A fundamental war has been waged in this nation since its founding, between progressive forces pushing us forward and regressive forces pulling us backward.
We…
Europe Stunned After Being Told “Obama Is Not In Charge”
A new report prepared by Russian Deputy Finance Minister Tatyana Nesterenko about the Eurogroup meeting of the Informal conomic and Financial Affairs Council (ECOFIN) in Wroclaw Poland on th…
http://www.pbs.org/wgbh/pages/frontline/warning/view/
In The Warning, veteran FRONTLINE producer Michael Kirk unearths the hidden history of the nation’s worst financial crisis since the Great Depression. At the center of it all he finds Brooksley Bor…
Among the growing signs that the U.S. is bracing for the possibility of default:
Treasury Secretary Timothy Geithner and Federal Reserve Board Chairman Ben Bernanke met Friday for 90 minutes to begin contingency plans for preventing a default fro…
A new study suggests it is highly unlikely that the Treasury would actually default on its debt beginning in early August if the White House and Congress fail to agree on a long-term deficit-reduction plan and an increase in the current $14.3 trill…
The clock is ticking. The $14.3 trillion debt ceiling must be raised or the economy courts catastrophe. At least, that is what the chairman of the Federal Reserve Board, the Treasury Secretary, the Business Roundtable, the U.S. Chamber of Commerce, …
