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Archive for articles filed in 'Economy'

Bailing Out the Casino

Ralph Nader | Posted on Saturday, October 4th, 2008

CounterPunch
October 2, 2008

The current finger pointing by the deregulation crowd in Congress and their ideological soul mates in the media reminds me of the 1939 film classic The Wizard of Oz. It is as though these spin masters want us to pay no attention to the government officials behind the deregulation curtain. (Keep reading…)

Contagion:Global spread of economic crisis will trickle down to businesses and then consumers

The Economist | Posted on Friday, October 3rd, 2008

The Economist October 3, 2008

America’s Congress is not used to being second-guessed. But as lawmakers wrestled in the Capitol, world stock markets have been giving real-time odds on the Bush administration’s $700 billion bailout becoming law. (Keep reading…)

The second time as farce: Bailout will pass after U.S. politicians safely re-elected

Gwynne Dyer | Posted on Wednesday, October 1st, 2008

Winnipeg Free Press October 1, 2008

This is not the Crash of 1929 revisited, and we are not heading into a second Great Depression. No developed country this time around is going to face the 25-per-cent unemployment rate that the United States experienced in the 1930s. (Keep reading…)

Any rescue plan must also come to the aid of the economy

JOSEPH STIGLITZ | Posted on Wednesday, October 1st, 2008

Globe and Mail October 1, 2008

It doesn’t take a genius to figure out that the U.S. financial system - indeed, global finance - is in a mess. And now, with the U.S. House of Representatives having rejected the Bush administration’s proposed $700-billion bailout plan, it is also obvious that there is no consensus on how to fix it. (Keep reading…)

No Bailout for Wall Street Billionaires!

Posted on Saturday, September 27th, 2008

Special to Canadian Dimension September 27, 2008

Treasury Secretary Paulson and President Bush backed by the Democratic Congressional leadership have asked Congress for $700 billion dollars to bailout Wall Street financial institutions.  <a href="http://canadiandimension.com/articles/2008/09/27/2109/#more-2109" class="more-link">(Keep reading...)</a>

Confidence in US banks nosedives after Washington Mutual collapse

Andrew Clark | Posted on Saturday, September 27th, 2008

http://www.guardian.co.uk/profile/andrewclark The Guardian
September 26, 2008 (Keep reading…)

A Bailout We Don’t Need

James K. Galbraith | Posted on Saturday, September 27th, 2008

Washington Post
September 25, 2008

Now that all five big investment banks — Bear Stearns, Merrill Lynch, Lehman Brothers http://www.washingtonpost.com/ac2/related/topic/Lehman+Brothers+Inc.?tid=informline , Goldman Sachs http://www.washingtonpost.com/ac2/related/topic/Goldman+Sachs+Group+Inc.?tid=informline and Morgan Stanley http://www.washingtonpost.com/ac2/related/topic/Morgan+Stanley?tid=informline — have disappeared or morphed into regular banks, a question arises. (Keep reading…)

Bailout could deepen crisis, CBO Chief says

Frank Ahrens | Posted on Thursday, September 25th, 2008

Washington Post
September 25, 2008; D04

Asset sales may lead to write-downs, insolvencies, Orszag tells Congress (Keep reading…)

Canada’s housing bubble could soon burst: Merrill Lynch

Eric Beauchesne | Posted on Thursday, September 25th, 2008

The Gazette (Montreal)
September 24, 2008

‘What worries us is that Canadian households have been running a larger financial deficit than households in either the U.S. or the U.K.’ (Keep reading…)

Crisis Stirs Critics of Free Markets:Around the World, Calls to Reconsider U.S.-Style Policies

Jason Dean in Beijing, Marcus Walker in Berlin, and Evan Ramstad in Seoul | Posted on Thursday, September 25th, 2008

Wall Street Journal
September 25, 2008

The turmoil in the U.S. financial sector is rippling through political debates around the world, giving ammunition to foreign officials who question American economic leadership and oppose policies that follow the U.S. model. (Keep reading…)

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