Thorne Webb Dreyer, Editor
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Tag Archives: Banking
Jim Hightower : Banking Jobs on the Move (Overseas)
‘These powerhouse bankers – who profit enormously from America’s people, laws, protections, and subsidies – no longer feel any responsibility for providing good American jobs’By Jim Hightower / September 25, 2008 Let’s hear it for Citigroup, Goldman Sachs, Morgan Stanley, … Continue reading
BushCo: Keeping Up the Secrecy and Corruption
As Chris Brown, blogging on Political Base, points out, “Paulson and the Bush administration clearly want to mask previous illegal activity and prevent any oversight and accountability. But we’ve seen this type of secrecy and corruption from the Bush administration … Continue reading
Market Meltdown: Explanation from an Expert
The spittin’ image of a bad betThe Real Reason for the Global Financial Crisis…the Story No One’s Talking AboutBy Shah Gilani / September 18, 2008 [Part I of a three-part series looking at how so-called “credit default swap” derivatives could … Continue reading
Posted in RagBlog
Tagged Bank Bailouts, Banking, Economic Collapse, Economy, Finance
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And It Won’t Be Painless
Hey U.S., welcome to the Third World!By Rosa Brooks / September 18, 2008 It’s been a quick slide from economic superpower to economic basket case. Dear United States, Welcome to the Third World! It’s not every day that a superpower … Continue reading
Harry Reid: "No One Knows What to Do"
The Point of No ReturnBy Mike Whitney / September 19, 2008 Following another eratic day of trading on the stock market, Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke convened an emergency meeting of the Senate Banking Committee … Continue reading
Economic Meltdown : Are We a Nation of Village Idiots?
‘Conservative Republicans always want the government to stay out of business and avoid regulation as long as they are making lots of money’By James Moore / September 18, 2008 Don’t let them tell you this economic meltdown is a complicated … Continue reading
Posted in RagBlog
Tagged Bank Bailouts, Banking, Capitalism, Economic Collapse, Economy, Finance, Market Regulation, McCain, Phil Gramm, Republican Party, Wall Street
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The Day the Neoconservatives Nationalized AIG
The AIG RescueBy Jon Taplin / September 16, 2008 A few months ago, neoconservatives were screaming bloody murder when Hugo Chavez nationalized the phone company. Today a neoconservative U.S. Government nationalized AIG, the largest insurance company in the world, because … Continue reading
Thomas Cleaver : The Republicans and Socialism for the Rich
Mr. Burns, the one secretly in charge: ‘Excellent!”Who says the Republicans don’t believe in socialism?By Thomas Cleaver / The Rag Blog / September 17, 2008 …Or at least socialism for the rich, when their incompetence threatens to kill them all. … Continue reading
Posted in Rag Bloggers
Tagged Bank Bailouts, Banking, Economic Collapse, Economy, Finance, Republican Party
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And the Dow Dropped More Than 500 Points, Too
The Frankfurt branch of the Lehman Brothers bank is pictured in Frankfurt September 15, 2008. Global markets plummeted on Monday after investment bank Lehman Brothers filed for bankruptcy protection, rival Merrill Lynch agreed to be taken over and the Federal … Continue reading
Lehman Declined to Comment on the Talks
Just two short days ago, we posted this. No need to say much more, although I reiterate this is going to get really bleak before it gets any better. We just bet Lehman doesn’t have too much to say about … Continue reading
Bailout Blues: We Ain’t Seen Nothing Yet
A Conservative Confidence GameBy Deborah Stone / September 9, 2008 Leave it to Fannie and Freddie to do for American politics what reasoned argument failed to do–strip the clothes off the Emperor of Markets. The fuss over whether government should … Continue reading
Another Bank Fails (And There’s a McCain Involved)
Silver State Bank Goes Belly UpBy Cookie Jill / September 8, 2008 Guess Andrew McCain learned “economics” from his dad. Regulators on friday shut down Silver State Bank, saying the Nevada bank failed because of losses on soured loans, mainly … Continue reading
