How financial networks propagate shocks and magnify recessions is of interest to both scholars and policymakers. The financial crisis of 2007-8 convinced many observers that … How bank networks amplify financial crisesRead more
Financial crisis
Posted inBank / Economics / Financial crisis / ToMl / USA Empire
Too Big to Fail From the Eyes of a Specialist
Andrew Ross Sorkin has written a column lamenting that “For a Generalist, ‘Too Big to Fail’ May Be Too Tricky to Judge” about the district … Too Big to Fail From the Eyes of a SpecialistRead more
Posted inBank / Corruption / Economics / Financial crisis / ToMl / USA Empire
Vampire Squid Goldman Sachs Gets Away with $5 Billion ‘Non-Punishment’
Goldman Sachs—once described as “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money”—has agreed … Vampire Squid Goldman Sachs Gets Away with $5 Billion ‘Non-Punishment’Read more
Posted inEconomics / Financial crisis / Health / ToMl
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 CrisisRead more
Posted inEconomics / Financial crisis / ToMl
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 RecessionRead more
Posted inEconomics / Financial crisis / ToMl
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 BeginsRead more
Posted inEconomics / Financial crisis / Greece / ToMl
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 worldRead more
Posted inEconomics / Financial crisis / ToMl
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
Posted inBank / Economics / Financial crisis / Justice / ToMl
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 SuccessRead more