The public demurs from facing reality and accepting measures that might fix the problems, based on a misplaced--and manipulated--appreciation of self-reliance and freedom, O'Kane explains and illustrates.
Reading and watching news of Syriza party's attempts to renegotiate a bailout agreement with the EU and ease austerity in what they term a humanitarian crisis for the Greek people, I've traded doubt and discomfort for a new feeling: respect.
These past two weeks mark a new start for Greece. The country is now, for the first time since joining the Eurozone, beginning to negotiate a new debt agreement as it rolls back austerity measures.
Scapegoating the EU for not pardoning or easing terms on debt, accusing minorities of tax fraud and ramping up government expenses are surely not part of the road to resolution.
Do we just fasten our seatbelts for a bumpy ride, or is there a way to smooth the path ahead? In this interview, Alan Taylor discusses his findings and suggests ways to safeguard the financial system.
The US Treasury Department has just declared the bailout is over -- and that it was profitable too! But nothing could be further from the truth. Both claims are false.
The final days of the 113th Congress brought with it the end of a turbulent month -- and year -- of American politics. It also led many of us to think ahead to the coming years as Republicans assume control of the House and Senate in January and a presidential election looms on the horizon in 2016.
Once a nation turns its back on a resolute determination to cultivate moral deservedness, political and financial superintendency passes to those who gain power illegitimately--a fact described eloquently by President Theodore Roosevelt.
For the next two years we will see Republicans do everything they can to deliver for corporate America at the expense of the American people. The only question is whether Democrats will enable them. Will President Obama continue to make compromise after compromise?
Remarkably, Goldman Sachs, one of the richest, most powerful, politically connected (aka Government Sachs) too-big-to-fail Wall Street banks, has demonstrated a Teflon-like ability to bounce back from egregious misdeeds, if not outright illegal conduct, and horrible publicity.
Lehman down, AIG up, Carmen Segarra out and a seemingly well-connected, three-peat winner, Goldman Sachs, motors on...
The goal of the lawsuit -- to provide even more for AIG's bailed-out shareholders -- seems absurd. But at least this lawsuit, which has already seen testimony from two former Treasury secretaries, is finally giving the American people some hard lessons in the workings of the bailout process and the shortcomings of our current economic system.
Undoubtedly there are positives to Holder's tenure as attorney general, but one really big minus is his decision not to prosecute any of the Wall Street crew whose actions helped to prop up the housing bubble.
Achieving financial stability will continue to require risk management skills, good governance, personal ethics, and, above all, courage to act to prevent further deterioration of finance.
Too big to fail may be a problem. But it is no larger or smaller than the problem of good policy itself.
We were all victims of the financial crisis that began in 2007 (not 2008), but some of us suffered more than others. And, hundreds of millions of us are still living with the painful aftermath as its consequences began to be felt worldwide.