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...
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...
banking / corporate welfare / Henry Paulson / plutocracy / Uncategorized
by mike · Published 2008-09-20
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...
banking / Bear Stearns / Citigroup / corporate welfare / corporatocracy / Deutsche Bank / Fannie Mae / Federal Housing Authority / FHA / Freddie Mac / Lehman Brothers / Merrill Lynch / Morgan Stanley / UBS
by mike · Published 2008-09-14
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...
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...
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