Karl On Bailouts
It is clear that there is a shortage of means of payment during a period of crisis. The convertibility of bills of exchange replaces the metamorphosis of commodities themselves, and so much more so...
Tagged: banking
Bank Wars: A New Hope
Financial-market wise guys, who had been seized with fear, are suddenly drunk with hope. They are rallying explosively because they think they have successfully stampeded Washington into accepting the Wall Street Journal solution to...
Dictatorship of the Corporatariat
What does a socialised corporatocracy look like when the veils of “democracy” are briefly lifted? Only a week after the United States’ Federal Government effectively socialised its mortgage industry by taking over Fannie Mae...
Money Talks
An exodus of foreign capital is forcing Russian banks to slash lending as the international reaction to the country’s military stand-off with Georgia starts to affect the real economy. Bankers say Russia is facing...