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Bailout of AIG with $85 Billion - The US government has seized control of insurance giant AIG, American International Group, in an unprecedented $85 billion bailout. The move to lend AIG up … Bailout of AIG with $85 Billion Read more Hurting America, even bin Laden could ever dream of - It’s being described as the largest government intervention in private markets since the Great Depression. The Bush administration has asked Congress to swiftly approve a … Hurting America, even bin Laden could ever dream of Read more Bailout: Comments from some US Senators - Treasury Secretary Henry Paulson, Federal Reserve Chair Ben Bernanke repeatedly clashed with almost every senator on the committee, all of whom focused on Wall Street’s … Bailout: Comments from some US Senators Read more How to fool the citizens - “The Shock Doctrine: The Rise of Disaster Capitalism” a book by Naomi Klein, award-winning journalist, syndicated columnist. The “Shock Doctrine,” is that it is in … How to fool the citizens Read more Bailout: comments from Dennis Kucinich - We have a bill here, a bill of more than a hundred pages, that we haven’t had a single hearing on the bill, on the … Bailout: comments from Dennis Kucinich Read more Nothing to fear: FDR - 1933. It was the middle of an era that our current moment is sometimes compared to: the Great Depression. When Franklin Delano Roosevelt took his … Nothing to fear: FDR Read more Bailout: Ralph Nader comments - It’s not clear at all why a bailout is needed. That’s part of the stampede in the pack and the panic that Bush and Paulson … Bailout: Ralph Nader comments Read more Joseph Stiglitz talking on bailout - It is a disappointment, but not a surprise, that the administration came up with a bill that is again based on trickle-down economics. You throw … Joseph Stiglitz talking on bailout Read more Free Lunch - Fannie Mae and Freddie Mac never originated a single loan. They certainly are participants in what went on here, but the problem was caused by … Free Lunch Read more AIG Execs Luxury Vacation After $85B Taxpayer Bailout - A congressional analysis says the stock market decline has led to the loss of about $2 trillion in Americans’ retirement savings over the past fifteen … AIG Execs Luxury Vacation After $85B Taxpayer Bailout Read more Has deregulation sired fascism? - The government’s bailout being aimed primarily at the financial institutions rather than the homeowners who—and the defaults that are at the root of the crisis. … Has deregulation sired fascism? Read more Climate catastrophe and financial meltdown - What happens if we fail to act in time to avert the climate catastrophe? We cross carbon-cycle tipping points, such as the loss of the … Climate catastrophe and financial meltdown Read more Biggest robbery in world history - 25 Sep 08 In Washington, protesters are gathering outside the Treasury Department at 4:00 p.m against Wall Street bailout. Here in New York, a protest … Biggest robbery in world history Read more US bailout plan - “My fundamental complaint is that they have been sleight of hand to the point of broad deception to the American people, if you listen to … US bailout plan Read more Robert Johnson on bailout - On Capitol Hill, the House is preparing to vote again on the revised $700 billion Wall Street bailout plan after rejecting a similar bill on … Robert Johnson on bailout Read more Wall St. Crisis and the Fall of Berlin Wall - Naomi Klein speaking at the University of Chicago: The credit crunch is spreading to financial markets around the world. Nearly 160,000 jobs were lost here … Wall St. Crisis and the Fall of Berlin Wall Read more How AIG spent bailout money - AIG Execs Held Luxury Vacation Days After $85B Taxpayer Bailout On Capitol Hill, the House Oversight Committee continued hearings into the financial crisis with testimony … How AIG spent bailout money Read more Wall St crisis and world market - Markets around the globe continue to plummet despite indications from Federal Reserve Chair Ben Bernanke that he would lower interest rates. Bernanke described the financial … Wall St crisis and world market Read more Stocks Plummet Across the Globe - what upsets the Europeans and the foreigners is that the US plan has done nothing at all about the debt crisis itself. It’s bailed out … Stocks Plummet Across the Globe Read more Privatising US Treasury - There’s a few elements now that are being described as illegal that we’re finding out. First of all, the equity deals that were negotiated with … Privatising US Treasury Read more New Economic Team of US - On Monday Obama named New York Federal Reserve Bank President Timothy Geithner to the post of the Treasury Secretary. Former Treasury Secretary under Clinton Lawrence … New Economic Team of US Read more James Galbraith on bailout - The crucial question is, on what terms does the Treasury plan to guarantee or to repurchase or to otherwise deal with the bad assets that … James Galbraith on bailout Read more America’s Economic Crisis - Both the House and Senate are set to vote today on the $789 billion economic stimulus package. The vote follows weeks of political wrangling that … America’s Economic Crisis Read more Financial Crisis - The Asian model of development, which is based on a free flow of capital and of dependence on exports, was something that was taught to … Financial Crisis Read more The Silent Depression - One of the most important findings is that—the idea that the African American community never emerged out of the 2001 recession. As the country was … The Silent Depression Read more Altering Bailout Rules - Socialism is a dangerous word in America. This kid of spin happened when Stuart Ewen writes about in the Social History of Spin. Now they’re … Altering Bailout Rules Read more Saving the Banks with Saving the Bankers - The critical question that many Americans are obviously concerned about is the question of what do we do with the banks. And on that, he … Saving the Banks with Saving the Bankers Read more Protesters Tell Summers “We Want Our Money Back” - White House economic adviser Larry Summers was greeted with a hostile protest during a speaking appearance on Thursday. Earlier this week, the White House disclosed … Protesters Tell Summers “We Want Our Money Back” Read more Global Economic Crisis, Resistance to American Empire - If you look at the Financial Times, the world’s major business journal, the day before the G20 meeting, they had a section on it, and … Global Economic Crisis, Resistance to American Empire Read more What crisis? Get out of our way. We don’t want any more of your money - The tax changes are the latest in a series of proposals billed by the Obama administration as a dramatic overhaul of the deregulated financial system … What crisis? Get out of our way. We don’t want any more of your money Read more You got bailed out; we got sold out - Nearly a thousand workers at the Chicago-based apparel firm Hart Schaffner & Marx, or Hartmarx, recently voted to “sit in” to save their jobs in … You got bailed out; we got sold out Read more Nationalizing Auto giant - Auto giant General Motors filed for Chapter 11 yesterday in one of the largest bankruptcy cases in US history. Shortly after the filing, GM said … Nationalizing Auto giant Read more Bank of America CEO to Receive $125 Million - GM to Shut Down Saturn Division; 13,000 Jobs to Be Eliminated In other business news, General Motors has announced it will shut down its Saturn … Bank of America CEO to Receive $125 Million Read more What Obama meant by CHANGE - Many of the lenders that helped fuel the housing crisis by issuing risky subprime loans are now lining up to receive more than $21 billion … What Obama meant by CHANGE Read more Former Wells Fargo Subprime Loan Officer, now works in foreclosure defense - Wells Fargo was one of the top ten subprime lenders in the country and is among the top recipients of taxpayer-funded bailout money under the … Former Wells Fargo Subprime Loan Officer, now works in foreclosure defense Read more Free loan - It’s been exactly one year since the onset of the financial crisis and the passage of the Bush administration’s $700 billion bailout of Wall Street. … Free loan Read more Obama Banking Too Much on Banks - Wall Street Monday to promote a regulatory overhaul of the US financial system. The visit came on the one-year anniversary of the collapse of the … Obama Banking Too Much on Banks Read more A Hidden $34 Billion Bank Subsidy - One of the key terms to come out of the nation’s economic meltdown has been “too big to fail.” The government has funneled billions of … A Hidden $34 Billion Bank Subsidy Read more The Best Way to Rob a Bank - The Dow Jones Industrial Average topped 10,000 Wednesday for the first time in a year, as JPMorgan Chase reported massive profits in the third quarter. … The Best Way to Rob a Bank Read more The Audacity of Greed - Many economists are claiming the nation’s worst recession since World War II may now be over. On Thursday, the government announced the US economy had … The Audacity of Greed Read more Wall Street and Its Backers on Capitol Hill Silenced Critics - The embattled CIT Group, a century-old commercial lender to thousands of small and medium-sized businesses, filed for Chapter 11 bankruptcy Sunday. It’s the fifth-largest bankruptcy … Wall Street and Its Backers on Capitol Hill Silenced Critics Read more How Goldman Sachs survived - How banking giant Goldman Sachs survived the recession and came out on top of Wall Street. This year the bank is on course to surpass … How Goldman Sachs survived Read more De-regulation, a beautiful name - Please hear De-regulation guru Alan Greenspan’s words. [youtube=http://www.youtube.com/watch?v=R5lZPWNFizQ] [youtube=http://www.youtube.com/watch?v=VFdhGJEEwLI] Money machine for those who control capital - Eliot Spitzer talking: Let me begin by saying that I think Senator Sanders was wrong in only one respect: it wasn’t that the Fed was … Money machine for those who control capital Read more Inside the Meltdown - [youtube=http://www.youtube.com/watch?v=6VMy4FvYD54&rel=0] Inside the Meltdown ANNOUNCER: On September 18th, 2008, the secretary of the Treasury, Henry Paulson, and the chairman of the Federal Reserve, Ben Bernanke, … Inside the Meltdown Read more The Warning - This is not new. 150 years ago also people warned about this system. ANNOUNCER: Tonight on FRONTLINE, long before the economic meltdown, the story of … The Warning Read more Where is the money - Former New Jersey governor and U.S. senator Jon Corzine testified Tuesday on Capitol Hill about his brief stint at the helm of the failed commodities … Where is the money Read more Breaking the Bank - [vodpod id=Groupvideo.10927155&w=640&h=360&fv=video%3D1168339502] Breaking the Bank ANNOUNCER: Tonight on FRONTLINE-HUGH McCOLL, Jr., Former CEO, Bank of America: You’re either growing or dying. So we grew. ANNOUNCER: … Breaking the Bank Read more Financial Crisis in 20 mins - Matt Taibbi talking: [youtube=http://www.youtube.com/watch?v=17g9v0lPxgs&rel=0] Put these bankers in jail Without trusting the media, we should study everything and should have to take unbiased, free decisions … Financial Crisis in 20 mins Read more Alternatives emerging from the Greek crisis - Greece is gripped by an official self-fulfilling rhetoric that ‘there is no alternative’ to a hard-line, socially divisive, austerity-driven return to business-as-usual. It’s a policy … Alternatives emerging from the Greek crisis Read more Too Crooked to Fail - Matt Taibbi talking: Bank of America grew out of the rivalry of a pair of Charlotte-based banks, First Union and NationsBank. There were a couple … Too Crooked to Fail Read more Financial bomb - [youtube=http://www.youtube.com/watch?v=OqN5GGYXNF0&rel=0] Predator Nation - the Justice Department opened a criminal probe into a $3 billion trading loss in risky derivatives at financial giant JPMorgan Chase, the nation’s largest bank. … Predator Nation Read more Don’t you have a minimum common sense? - Richard D. Wolff talking: [youtube=http://www.youtube.com/watch?v=n30zO0ABFqc&rel=0] Bailout Bonanza - This investigation was supported by the Investigative Fund at the Nation Institute and by the Puffin Foundation. Elements of it appear in Palast’s new book, … Bailout Bonanza Read more Let Detroit go bankrupt - Greg Palast talking: it’s one of the creepiest stories I’ve investigated in a long time, Amy. Mitt Romney, through Ann Romney’s blind trust—not so blind, … Let Detroit go bankrupt Read more Banks are still too big to fail - Last year the big four British banks enjoyed £34 billion in subsidies because markets believe they are too big to fail. Banks occupy a unique … Banks are still too big to fail Read more Secrets and Lies of the Bailout - I have a feature in the new issue of Rolling Stone called “Secrets and Lies of the Bailout,” which focuses in large part on the … Secrets and Lies of the Bailout Read more 4 Decades old Recession - If you had to date the Great Recession, you might say it started in September 2008 when Lehman Brothers vaporized over a weekend and a … 4 Decades old Recession Read more Spectacular Failure - Richard Wolff talking: Detroit is a spectacular failure of our economic system. It’s been in decline for 30 to 40 years. Everybody knows it. I … Spectacular Failure Read more The Great Eviction - We cautiously ascend the staircase, the pitch black of the boarded-up house pierced only by my companion’s tiny circle of light. At the top of … The Great Eviction Read more Stop Bank Foreclosures - Gayle McLaughlin talking: the housing crisis in Richmond is not over, far so from being over. We had 900 foreclosures last year and just as … Stop Bank Foreclosures Read more Why Are the Greek People Agreeing to Their Own Destruction? - In his career as an investigative journalist, economist, and bestselling author – Vultures’ Picnic, Billionaires and Ballot Bandits, The Best Democracy Money Can Buy – … Why Are the Greek People Agreeing to Their Own Destruction? Read more Detroit bankrupted, Banks & Big Auto got bailed out - Facing an estimated $18 billion in debt, Detroit has become the largest U.S. municipality to file for bankruptcy. It is a grim milestone in the … Detroit bankrupted, Banks & Big Auto got bailed out Read more $13 billion fine - The banking giant JPMorgan is set to pay a record $13 billion fine to settle investigations into its mortgage-backed securities. Five years ago, the bank’s … $13 billion fine Read more The Man Behind the Vampire Squid - Matt Taibbi has an unmistakable voice in American journalism—assured, addictive, and usually pissed off. After launching his career working for expat papers in Moscow, Taibbi … The Man Behind the Vampire Squid Read more Wells Fargo, what a quiet period - A new internal report says the Justice Department massively overstated its successes in targeting mortgage fraud while in fact ranking it as a low priority … Wells Fargo, what a quiet period Read more Charles Keating and the Lessons of the Savings and Loan Crisis - Charles H. Keating Jr., one of the most notorious fraudsters in American history, died yesterday at the age of 90. Although his status as financial … Charles Keating and the Lessons of the Savings and Loan Crisis Read more The Wealth Doubled Since the 2008 Economic Crisis - The Wealth of the Super-Rich has Doubled Since the 2008 Economic Crisis The annual rich list published by the Sunday Times has revealed a staggering … The Wealth Doubled Since the 2008 Economic Crisis Read more Consequence of Greenspan’s flaw - The U.S. Announces the Indictment of Citigroup’s Senior Officers for Fraud - By William K. Black The third omission from Attorney General Eric Holder’s press conference announcing the settlement with Citigroup of civil charges was the words … The U.S. Announces the Indictment of Citigroup’s Senior Officers for Fraud Read more Recession ‘led to 10,000 suicides’ - The economic crisis in Europe and North America led to more than 10,000 extra suicides, according to figures from UK researchers. A study, published in … Recession ‘led to 10,000 suicides’ Read more Wall Street gets put on trial - The Tea Party regards Barack Obama as a kind of devil figure, but when it comes to hunting down the fraudsters responsible for the economic … Wall Street gets put on trial Read more The Bank Bailout and the Forbes 400 - Six years ago this past Friday, the US Congress passed the Emergency Economic Stabilization Act of 2008, which established the $700 billion Troubled Asset Relief … The Bank Bailout and the Forbes 400 Read more 5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives - When is the U.S. banking system going to crash? I can sum it up in three words. Watch the derivatives. It used to be only … 5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives Read more The $9 Billion Witness. King is naked - She tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn’t take … The $9 Billion Witness. King is naked Read more Emperor is naked. But we will pay the fine - A year ago this month, the Justice Department announced the banking giant JPMorgan Chase would avoid criminal charges by agreeing to pay $13 billion to … Emperor is naked. But we will pay the fine Read more Too Big to Jail? - AIG Bailout Trial Revelation - I’m still hugely behind on the AIG bailout trial, and hope to show a ton more progress in the next week. I’m posting the transcript … AIG Bailout Trial Revelation Read more Why the Financial and Political System Failed - The recent spike in global political-financial volatility that was temporarily soothed by European Central Bank (ECB) covered bond buying and Bank of Japan (BOJ) stimulus … Why the Financial and Political System Failed Read more The Second Circuit Makes Sophisticated Insider Trading the Perfect Crime - We know that insider trading is an activity in which cheaters prosper. We know that Wall Street and the City of London are dominated by … The Second Circuit Makes Sophisticated Insider Trading the Perfect Crime Read more Lawmakers Shifted Holdings After Talks with Admin During Financial Crisis - An investigative report from the Washington Post shows 34 members of Congress made major changes to their financial holdings after speaking with top administration officials … Lawmakers Shifted Holdings After Talks with Admin During Financial Crisis Read more Former AIG Chief Wins “Stunning” Case over Taxpayer Bailout - The former head of insurance giant AIG has won a legal victory against the U.S. government over its 2008 taxpayer bailout. Hank Greenberg claimed the … Former AIG Chief Wins “Stunning” Case over Taxpayer Bailout Read more Do you want Wall Street to donate their bonus to you - The Dow Jones Industrial Average and the S&P 500 both hit record highs on Thursday while the NASDAQ surged to its highest level in over … Do you want Wall Street to donate their bonus to you Read more Zero Accountability - As the 2012 presidential election season heats up, new campaign finance figures reveal Wall Street is heavily investing in President Obama. According to the nonpartisan … Zero Accountability Read more Eric Holder Back to Wall Street-Tied Law Firm - [How shameful people are the US citizens] Recently retired U.S. Attorney General Eric Holder is returning home—to the corporate law firm Covington & Burling, where … Eric Holder Back to Wall Street-Tied Law Firm Read more Ernst & Young Pays $10 Million to Settle Lehman Brothers Audit Failure Lawsuit - Ernst & Young, one of the Big Four auditing firms, has agreed to pay a $10 million to New York state to settle a lawsuit … Ernst & Young Pays $10 Million to Settle Lehman Brothers Audit Failure Lawsuit Read more A Hostage Situation - Greek Prime Minister Alexis Tsipras has submitted a bailout proposal which includes harsh austerity measures, just days after the Greek people overwhelmingly rejected such measures … A Hostage Situation Read more The Greek Debt Crisis - Protests Erupt Outside of Greek Parliament - Protests erupted in Greece Wednesday as the Greek Parliament approved harsh new austerity measures in exchange for a third European bailout. Greek Prime Minister Alexis … Protests Erupt Outside of Greek Parliament Read more Greece Makes €450 Million Payment to International Monetary Fund - Greece transferred around €450 million to the International Monetary Fund (IMF) on Thursday. As a result, Athens has repaid its second major loan without being … Greece Makes €450 Million Payment to International Monetary Fund Read more Fighting Against Foreclosure Fraud and Courts’ Abuse of Power - Attorney Scott Stafne, of Washington state, is known in foreclosure fraud circles as the “people’s lawyer” – one who not only understands the complicity of … Fighting Against Foreclosure Fraud and Courts’ Abuse of Power Read more Saving Capitalism - Robert Reich talking: we do have to substantially increase taxes at the top, if we’re going to have enough money to do everything that needs … Saving Capitalism Read more Iceland Jailed Bankers and Rejected Austerity—and It’s Been a Success - When the global economic crisis hit in 2008, Iceland suffered terribly—perhaps more than any other country. The savings of 50,000 people were wiped out, plunging … Iceland Jailed Bankers and Rejected Austerity—and It’s Been a Success Read more Troika Involved in “Financial Terrorism” - What the troika is doing to Greece these days is the pinnacle of financial terrorism. It is economic waterboarding. It is blackmailing of the first … Troika Involved in “Financial Terrorism” Read more Today Greece, tomorrow the world - Greece has been living beyond its means, having borrowed too much during the easy times. Its underlying economy is too weak to support its preferred … Today Greece, tomorrow the world Read more This is How Financial Chaos Begins - There are over $1.8 trillion of US junk bonds outstanding. It’s the lifeblood of over-indebted corporate America. When yields began to soar over a year … This is How Financial Chaos Begins Read more Understanding the Great Recession - Just as the Great Depression remained etched in the minds of both economists and policy makers for a very long time, undoubtedly so will the … Understanding the Great Recession Read more Posts about Financial Crisis - The hidden victims of the Global Crisis - The economic costs of financial crises are large. Much effort has been put into quantifying the direct economic costs due to unemployment, production contraction, and … The hidden victims of the Global Crisis Read more
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