Economy - Part 18
UK Chancellor of the Exchequer George Osborne has confirmed that the Tory-led government's policies to cut public spending are set to continue, but the food banks don't lie.
Prior to delivering his 2014 budget to the country via the chancellor’s annual ...[Read more]
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Robert Reich's verdict on the prospect of yet more austerity is unequivocal. "The austerity narrative is nonsense – and its dangerous nonsense. It's sort of the Vietnamisation of the economy – [that] you're saving the economy by killing it."
The polit ...[Read more]
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A New York City investment banker is dead after allegedly jumping from his apartment building, continuing an alarming streak of suicides that has descended upon the financial world.
The latest death occurred on March 12, when 28-year-old Kenneth Bellando ...[Read more]
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'Last week, something remarkable happened. The Bank of England let the cat out of the bag. In a paper called "Money Creation in the Modern Economy" they stated outright that most common assumptions of how banking works are simply wrong, and that the kind ...[Read more]
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The former Goldman Sachs vice-president Fabrice Tourre, who was convicted on six counts of securities fraud six months ago, has landed a new job as an economics teacher at a prestigious university in the US.
Tourre, also known as "Fabulous Fab," will teac ...[Read more]
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Behind incessant rhetorical invocations of a “democratic revolution,” Ukraine’s newly-installed government of former bankers, fascists and oligarchs is preparing draconian austerity measures.
The plans being drawn up are openly described as the “ ...[Read more]
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The IMF, arguably the world’s premiere financial institution, is stating unequivocally that income inequality “tends to reduce the pace and durability” of economic growth. In a paper released Thursday, the fund also suggests that a spectrum of appro ...[Read more]
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The Pentagon remains unaudited, which will remain the case even after it meets its overdue and embarrassingly modest financial management goals - which by the way, it will do no time soon.
Scarcity of money is not their problem. Pentagon costs, taken tog ...[Read more]
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Six years ago, California was plunged into an unprecedented energy crisis. Rolling blackouts shut down parts of the state. Power bills soared. It turned out that at the center of the crisis was Enron - although the company’s role wasn’t fully understo ...[Read more]
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The Federal Deposit Insurance Corporation has sued 16 big banks that set a crucial global interest rate, accusing them of fraud and conspiring to keep the rate low to enrich themselves.
The banks, which include Bank of America, Citigroup and JPMorgan Chas ...[Read more]
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Alleging systematic wage theft by both McDonald’s corporate and its franchisees, workers filed seven class-action lawsuits this week seeking unspecified damages from the fast food giant.
Workers filed two suits in Michigan, one in New York, and four in ...[Read more]
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