iOS app Android app

Interest Rate Swaps

The Detroit Bail-in Template: Fleecing Pensioners to Save the Banks

Ellen Brown | Posted 10.06.2013 | Detroit
Ellen Brown

In Cyprus, the depositors were "bailed in" (stripped of a major portion of their deposits) to re-capitalize the banks. In Detroit, it is the municipal workers who are being bailed in, stripped of a major portion of their pensions to save the banks.

It's the Interest, Stupid! Why Bankers Rule the World

Ellen Brown | Posted 01.08.2013 | Business
Ellen Brown

This is not rocket science. By developing a public banking system, governments can keep the interest and reinvest it locally.

The Shadow Bailout: How Big Banks Bilk U.S. Towns and Taxpayers

Ellen Brown | Posted 05.26.2012 | Business
Ellen Brown

Banks and borrowers were supposed to be paying equal rates: the fat years would balance out the lean. But the Fed artificially manipulated the rates to the save the banks.

PIMCO Manager Bill Gross: Firm Was 'Never' Short On U.S. Treasuries

Posted 07.16.2011 | Business

NEW YORK - PIMCO's Bill Gross, manager of the world's largest bond fund, said on Monday it was a "misconception" the firm was short on U.S. Treasu...

States and Cities Pay Wall Street $4 Billion To Exit Bad Deals

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Cities and states have had to pay Wall Street firms $4 billion since 2008 to get out of complicated interest rate deals that went sour, Bloomberg repo...

Activists Win Against Goldman Sachs' Greek Style Local Government Ripoffs

Mike Elk | Posted 05.25.2011 | Business
Mike Elk

There are thousands of city and local government that spend hundreds of billions of dollars each year that are processed through banks. With a well-organized social movement, we could change the ways banks do business on Main Street.

Citi Derivatives

Risk.net | Laurie Carver | Posted 05.25.2011 | Business

Credit specialists at Citi are considering launching the first derivatives intended to pay out in the event of a financial crisis. The firm has drawn ...

Harvard Swaps

bloomberg.com | Michael McDonald, John Lauerman, and Gillian Wee | Posted 05.25.2011 | Business

Harvard's swaps, which assumed that interest rates would rise, proved so toxic that the 373-year-old institution agreed to pay banks a total of almost...