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Tag Archives: Financial Crisis
Financial Meltdown : The 12 Corrupt Deals That Caused it
Graphic from The Energy Source. $5 billion in lobbying for 12 corrupt deals caused the multi-trillion dollar financial meltdown. It got the finance industry lucrative legislative favors that paved the way for Wall Street’s devastating collapse. By Robert Weissman / … Continue reading
Posted in RagBlog
Tagged Congress, Deregulation, Economic Collapse, Financial Crisis, Lobbyists, Political Corruption
1 Comment
The End of the Financial Crisis Is Nowhere in Sight
The Global Collapse: a Non-orthodox ViewBy Walden Bello / February 22, 2009 This is the longer version of an essay by the author released by the British Broadcasting Corporation (BBC) on 6 February 2009. Week after week, we see the … Continue reading
‘Superpower’ Isn’t a Boast, It’s a Death Warrant
Graphic courtesy of Government Accountability Office.The Upside of the DownsideBy Case Wagenvoord / February 20, 2009 Dear George, Now ‘tis the season when we reap the bilious harvest of seven decades of hubric delusion. It wasn’t just economic bubbles that … Continue reading
Some Litttle-Known Financial Crisis Trivia
Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a “tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars.” According to Kanjorski, this electronic transfer occured over … Continue reading
No Wealth Creation Since the Turn of the Millennium
Decade at Bernie’sBy Paul Krugman / February 15, 2009 By now everyone knows the sad tale of Bernard Madoff’s duped investors. They looked at their statements and thought they were rich. But then, one day, they discovered to their horror … Continue reading
David MacBryde in Berlin : A Look at the Ecomonic Sea Change
Allgemeine Zeitung: ‘The World Hanging in the Air.’ Photo by David MacBryde / The Rag Blog.Seeing the Sea-Change in Germany and in the USA What kind of “growth” is possible and desirable, what is impossible or dangerous on the thin … Continue reading
Posted in Rag Bloggers
Tagged David MacBryde, Economic Recovery, Financial Crisis, Germany
2 Comments
Brooksley Born Could Have Saved Us From This Financial Catastrophe
Brooksley Born. Photo source.The Woman Greenspan, Rubin & Summers SilencedBy Katrina vanden Heuvel “Break the Glass” was the code-name high-level Treasury Department figures gave the $700 billion bailout; it was to be used only as a last- resort measure. Now … Continue reading
Our Economic Trainwreck : Retooling the Engine
The Wrecked Economy: What Could Be Tried?By Sherman DeBrosse / The Rag Blog / December 18, 2008 [This is the final installment in a three-part series on the economy by The Rag Blog’s Sherman DeBrosse.] A new approach to the … Continue reading
Posted in Rag Bloggers
Tagged American History, Economic Recovery, Economic Stimulus, Economy, Financial Crisis
1 Comment
US Household Worth Takes a Nosedive : How Do We Get Out of This Mess?
Updated December 17, 2008 Americans strapped for cash so they’re not spending; How will the government pay back all the cash it’s creating?By Roger Baker / The Rag Blog / December 16, 2008 See ‘Household Net Worth in U.S. Declines … Continue reading
Sherman DeBrosse : Our Economic Trainwreck
‘The financial crisis involves a great deal more than shaky home mortgagers. The key problem is that our financial markets have been deregulated and, lacking policing, have engaged in a massive speculative binge.’ By Sherman DeBrosse / The Rag Blog … Continue reading
Posted in Rag Bloggers
Tagged American History, Economic Collapse, Economy, Financial Crisis, Great Depression
2 Comments
Roger Baker : Getting a Read on this Economy Business
‘We can now observe that the creation of unlimited credit by unregulated investment banks, together with peak/near peak oil causing a steep oil price rise, is together enough to trigger a panicky deflationary spiral that has its own complex dynamics.’ … Continue reading
Posted in Rag Bloggers
Tagged China, Economic Collapse, Economic Crisis, Financial Crisis, Fossil Fuels, Peak Oil, Recession, World Economy
2 Comments
Paul Krugman : What to Do
‘Once the recovery effort is well underway, it will be time to turn to prophylactic measures: reforming the system so that the crisis doesn’t happen again.’By Paul Krugman The following article by educator, New York Times columnist and Nobel prize … Continue reading
