Nobel prize winning economists George Akerloff and Joseph Stiglitz, former Fed chairman Alan Greenspan, leading economists such as Robert Shiller, Anna Schwartz, James Galbraith, former lead S & L regulator William K. Black, former Tarp overseer El…
Posts Tagged ‘crisis’
Belgian crisis reaches record level
January 27th, 2011 |
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Belgium is once again in a political stalemate after the man who had been trying to revive stalled coalition talks tendered his resignation for the second time.
This time King Albert had to accept it.
While the Financial Crisis Commission Report Looks Impressive At First Glance, It Doesn’t Hit Hard Enough … and Won’t Lead to Any Real Change
January 26th, 2011 |
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The Financial Crisis Inquiry Commission largely blames Greenspan, Bernanke, Geithner, Summers, the rating agencies, SEC and big banks for the economic crisis. (Here’s the final report).Bernanke is still Fed chief, and the government has substantially …
Robert Shiller Argues That Rising Inequality In The US Was A Major Cause Of The Recent Crisis, And Little Is Being Done To Address It
January 24th, 2011 |
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I have previously argued at some length that rising inequality is one of the main causes of the economic crisis.Famed Yale economist Robert Shiller agrees.As the Browser reports:Yale economist Robert Shiller argues that rising inequality in the US was…
Failing to Prosecute Financial Fraud – On Either Side of the Atlantic – Is Extending Our Economic Crisis
January 12th, 2011 |
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As numerous experts have pointed out for years, failing to prosecute financial fraud is extending our economic crisis. This continues to be a key, ongoing story. For example, the Telegraph reports today:The EU’s financial watchdog has systemically “sab…
Poverty increases “because of crisis”
January 12th, 2011 |
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Over 100,000 more Serbian citizens were living below the poverty line in 2010 compared to 2009. This data was presented by Serbian president’s advisor for social issues Gordana Matković, who stated that the number of the poor has increased by about 20 percent during the crisis.
Katie Price confirms marriage crisis
January 6th, 2011 |
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Former model Katie Price has admitted that her marriage with cage-fighter Alex Reid is going through a rough patch. The 32-year-old also confirmed they have gone on a holiday to an exclusive resort on an island in the Indian Ocean and are trying to work through their problems, reports contactmusic.com. “To answer my fans’ questions, [...]
Extreme Inequality Helped Cause Both the Great Depression and the Current Economic Crisis
December 17th, 2010 |
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It is clear that when banks become too big, it harms the economy. Economist Steve Keen says that “a sustainable level of bank profits appears to be about 1% of GDP”, and higher bank profits lead to a Ponzi economy and a depression.But most mainstre…
Musharraf hints at pact with Taliban, military takeover to protect Pak from crisis
December 16th, 2010 |
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Former Pakistan President Pervez Musharraf said that the country might be forced to take matters into its own hands, which could include working with the Taliban, if it continues to feel alienated by the rest of the world. Musharraf said that Pakistan was in a terrible state – with its economy in crisis, high unemployment, [...]
Head of Bank of England Said In March 2008 That We Have a SOLVENCY – Not a Liquidity – Crisis
December 15th, 2010 |
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On Monday, the Guardian reproduced a Wikileaks cable dated March 17, 2008, stating:SUBJECT: BANKING CRISIS NOW ONE OF SOLVENCY NOT LIQUIDITY SAYS BANK OF ENGLAND GOVERNOR***Since last summer, the nature of the crisis in financial markets has changed. T…
Katie Price’s night out with Amir Khan sparks marriage crisis rumours
December 13th, 2010 |
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Glamour model Katie Price has sparked fresh marriage crisis rumours after heading to Las Vegas to watch boxer Amir Khan’s fight and later joining him for dinner. The 32-year-old went to watch Khan’s fight after her hubby Alex Reid apparently had a wild night with Wag Lizzie Cundy. Angered Price jetted from LA to Vegas [...]
I Won’t Invest Another Penny Until the Criminals Who Caused the Financial Crisis Are Safely in Jail
December 9th, 2010 |
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Here’s an idea for a bumper sticker:I Won’t Invest Another Penny Until the Criminals Who Caused the Financial Crisis Are Safely in JailCan you imagine how much pressure would be put on the government to start real prosecutions if a million of us put th…
Merkel: Euro will survive crisis
November 27th, 2010 |
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German Chancellor Angela Merkel has expressed confidence euro will survive debt crisis, and that no member of the eurozone risks having to restructure its debt.
She spoke Thursday in Berlin, seeking to reassure financial markets as the euro was near a two-month low against the dollar.
“We Can Either Have a Rational Resolution to the Foreclosure Crisis or We Can Preserve the Capital Structure of the Banks. We Can’t Do Both”
October 28th, 2010 |
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The quote of the day comes from Damon Silvers, a member of the independent Congressional Oversight Panel:We are faced with a choice here.We can either have a rational resolution to the foreclosure crisis or we can preserve the capital structure of the…
Gulf Oil Spill: Mission Accomplished or Ongoing Crisis?
October 24th, 2010 |
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The corporate media has almost entirely stopped covering the Gulf oil spill.Many have tried to say that the effects of the spill are not nearly as bad as feared, and that everything is pretty much cleaned up and back to normal.But today, it is widely b…
The Real Danger From the Foreclosure Crisis
October 15th, 2010 |
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People were told that the investment in their house was as solid as a rock:Unfortunately, millions are now upside down, because the housing bubble – fed to a large extent by fraud – has burst:And the people who supposedly verified the accuracy of mortg…
“At the Root of the Crisis We Find the Largest Financial Swindle in World History”, Where “Counterfeit” Mortgages Were “Laundered” by the Banks
October 13th, 2010 |
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A “false front” building from the Old West. Towns built false fronts to make the town look more substantial and prosperous than it really was.The tidal wave of evidence showing that the giant banks have engaged in fraudulent foreclosure practices is …
There is Only One Way Out of the Foreclosure Crisis
October 9th, 2010 |
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We’re the fish.The giant “too big to fail” banks are the bird. They’ve got their talons in the American consumer and the economy.The only way out for us – the fish – is if someone “shoots” the bird … or at least captures it and removes its talons …
EU-Asian summit: Climate change, financial crisis
October 4th, 2010 |
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European and Asian leaders are set to hold talks in Brussels focused on climate change and the aftermath of the global financial crisis. The Asia-Europe Meeting (ASEM) groups the 27-member European Union and the 10-member Association of Southeast Asian Nations (ASEAN).