Carmen Segarra, 41, said she began recording meetings because she couldn’t believe how the regulators bowed and scraped to the behemoth investment bank. The tapes were released to ProPublica and This American Life.
New York Daily News, By Ginger Adams Otis, September 27
A fired financial regulator whose job was to oversee Goldman Sachs for [...]
The Scots got sick and tired of Thatcherite policies imposed from London.
The American Prospect, By Robert Kuttner, September 23
Why on earth did the Scots, largely quiescent as part of Great Britain for three centuries, suddenly become the mouse that roared?
It wasn’t because they became besotted watching re-runs of Braveheart or Rob Roy, [...]
It seems like so very long ago, many of us here at The Agonist gave up on Barack Obama. It was long ago – six years now – which is a long time considering the progress the United States could have made had Obama been the leader he promised to be. My disillusionment was almost [...]
…I would have laughed in your face. But it did:
Why abandon K-Street, and acknowledge, then reject, the Big Business perception of the GOP? They’ve had the Republican Party’s back for some time, right? In the past, the largest companies favored one party over the other because they understood a pro-capitalist, low-regulation government benefits [...]
CBC, By Kristy Kirkup, July 3
Trade officials from Canada and other Asia-Pacific nations are meeting behind closed doors in Ottawa to discuss the Trans-Pacific Partnership, a massive free-trade proposal that could create one of the world’s largest trading blocks.
The TPP currently comprises 12 countries, including Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New [...]
The Telegraph, By Ambrose Evans-Pritchard, June 4
The way we are going, the whole world will end up with zero interest rates or some variant of quantitative easing before long. Such is the overwhelming power of deflation in countries with burst credit bubbles. Such too is the implication of a global savings rate that has [...]
Reuters, By Nandita Bose & Rajesh Kumar Singh, June 4
Mumbai, New Delhi – India could allow global online retailers such as Amazon.com Inc (AMZN.O) to sell their own products as early as next month, removing restrictions that have held back competition in one of the world’s biggest, and most price-sensitive, retail markets.
The decision, [...]
Ian Welsh wrote, and we’ve commented, because while Ian provides penetrating analysis, there is no suggestion of solutions, for example those on which Marine Le Pen campaigns, which seem cogent: Restore the Franc, Restore Sovereignty, and Control Multiculturalism.
So I’m back from vacation and I keep seeing this name on my Tweeter and FacePlace feeds: Thomas Piketty.
Sounds vaguely Dickensian.
From what I gathered, Piketty wrote a book which proposes a new economic theory that would put paid to many of the basic notions that support capitalism.
Pax Americana continues to crumble before our eyes. The belief that the United States has a divinely-inspired obligation to police the entire world has always been most strongly held among Americans themselves; some of the beneficiaries of this largesse, such as the Vietnamese and most recently the Iraqis, never quite showed the gratitude America felt [...]
The Observer/Comment is Free, By Will Hutton, April 12
Suddenly, there is a new economist making waves – and he is not on the right. At the conference of the Institute of New Economic Thinking in Toronto last week, Thomas Piketty’s book “Capital in the Twenty-First Century” got at least one mention at every session [...]
The Baffler, By Chris Lehmann, The Baffler No. 24, 2014
By any reasonable measure, the neoliberal dream lies in tatters.
In 2008 poorly regulated financial markets yielded a world-historic financial collapse. One generation, weaned on reveries of home ownership as the coveted badge of economic independence and old-fashioned American striving, has been plunged into foreclosure, [...]
The White House announced today that the site for the Obama Presidential Library will be built in multiple cities, with multiple wings to the library, to continue the momentum of bipartisanship started under the Obama Administration.
A White House spokesman said :
We’re providing the list of cities and wings we can identify. In keeping [...]
It is becoming clearer what will be the likely cause of the next financial crisis. In a recent report to US banks issued by the Office of the Comptroller of the Currency (which regulates more banks than even the Fed does), the OCC has cautioned banks to limit their lending to highly-leveraged corporations. Further, the [...]
At an east coast cocktail party several weeks ago, a reporter asked a CEO what he feared most in regards to the global economy. The billionaire, who asked to remain anonymous, replied, “the guillotine”.
When even the hyper-wealthy are looking anxiously over their shoulder, something is badly wrong with the economic order. For several years [...]