Last week marked the 8th anniversary of the collapse of Lehman Brothers, the huge Wall Street investment bank. This bankruptcy sent financial markets into a panic with the remaining investment banks, like Goldman Sachs and Morgan Stanley, set to soon topple.
Note to editors: This post is coauthored with authorized HuffPo blogger Kermit Schoenholtz. China's rapid credit expansion is worrying. Will Chinese ...
Only 17 percent of Italy's money supply (M3) is accounted for by State money produced by the European Central Bank (ECB). The remaining 87 percent is Bank money produced by commercial banks through deposit creation.
President Obama took office in the immediate aftermath of the financial crisis and Great Recession, so it is hardly surprising that the White House to...
What, pray tell, is House Speaker Paul Ryan thinking? He is working like a beaver to bail out Puerto Rico's banana republic fiscal situation and manipulating the bailout on behalf of a handful of corrupt, Romney-donor hedge funds.
As it turns out, the business-cum-government monopoly looks little different than bad forms of communism because it is them (not the people) who plan out (and fix) the economy from the centrality of their own interests. And there is a name for this--it's called, Neoliberalism.
It is time to break out one of our two family rules again: It is impossible to compete with unintentional self-parody. How fraudulent is finance even now?
Michigan didn't have to poison Flint's children. That was a values choice. And Republican Gov. Rick Snyder values big business more than little children.
Donald Trump is wrong about most everything - not to mention being hate-filled and demagogic. But the few things he does get right may account for his popularity among Republican voters.
Protecting the American people from another devastating financial crash and the economic wreckage it causes begins with reflecting honestly about the past and trying to learn the right lessons.
As of now we are stuck with a user-based policy without a user-based program. The program is going towards being partially user funded and partially general funded for the foreseeable future. It is time for Congress to formulate a policy that reflects that reality.
George W. Bush, not Bernie Sanders, is the real "socialist" of our generation, primarily because the economy collapsed under his tenure and as a result, the conservative president began an ongoing program of government stimulus into various industries.
In a recent speech to parliament, Tsipras confidently invoked the words of Franklin Delano Roosevelt by noting that there is nothing to fear but fear itself. However, it was FDR's actions, and not just rhetoric, which secured him a place in the pantheon of modern statesmen.
The economic crisis in the island is suffocating the people. Water and electricity bills have skyrocketed. Public services are far, way far, from good.
Faced with continued despair, the people in Greece will continue to do as people have done all over the world when faced with such inhumane treatment: they will live, they will organize, they will protest, they will survive and carry the burden of humanity.
Dodd-Frank turns five years old next week and the occasion merits a review of its success.