DhafirTrial

By Dean Baker Truthout 3/24/08

Progressives usually fight for the interests of those at the middle and bottom at the expense of those on top. However, during this period of unprecedented financial crisis, when the Wall Street rich are begging for the helping hand of the government, most progressives appear to be on the sidelines. (more…)

By Dean Baker Truthout 3/17/08

According to the current plans being crafted in Washington, you will. Bear Stearns, one of the longstanding giants of Wall Street investment banking, is now on life support, the victim of its own excessive greed and bad judgment. (more…)

A Bankrupt Superpower

By PAUL CRAIG ROBERTS Counterpunch 3/18/08

In his famous book, The Collapse of British Power (1972), Correlli Barnett reports that in the opening days of World War II Great Britain only had enough gold and foreign exchange to finance war expenditures for a few months. The British turned to the Americans to finance their ability to wage war. Barnett writes that this dependency signaled the end of British power. (more…)

Too Big to Bail

By PAM MARTENS Counterpunch 3/17/08

Americans learned two new truths last week from the Bush Administration’s version of Life’s Little Instruction Book: if you’re a Wall Street miscreant you’re thrown a lifeline; if you’re a Wall Street crime fighter you’re thrown a land mine. (more…)

By Dean Baker Truthout 3/10/08

With the release of the February jobs numbers, everyone except for the economists now acknowledges we are in a recession. The economy is shedding jobs at a rapid pace (more…)

By Mike Whitney Information Clearing House 03/07/08

“Market conditions are the worst anyone in this industry can ever remember. I don’t think anyone has a recollection of a total disappearance in liquidity…There are billion of dollars worth of assets out there for which there is just no market.” Alain Grisay, chief executive officer of London-based F&C Asset Management Plc; Bloomberg News (more…)

“You are all Dead Ducks”

By Mike Whitney Information Clearing House 2/16/08

Even veteran Fed-watchers were caught off-guard by Chairman Bernanke’s performance before the Senate Banking Committee on Thursday. (more…)

From FCNL, a Quaker lobby in the public interest.

The federal budget is a reflection of our country’s moral values. Does this budget reflect your values?: Where Do Our IncomeTax Dollars Go?.