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Tag: Bill Black

VIDEO: Michael Hudson and Bill Black: A Greek Bailout Is Really a Bailout of Western Banks

The esteemed U.S. political economists say Western financial institutions are keen to bail out Greece because if they don’t, the country’s existing creditors—other Western financial institutions—will fail to recover money they previously lent to Greece.

Posted on Jul 1, 2015 READ MORE



California Trial Places Mortgage Blame on Bankers

In an “unprecedented” trial that challenges the Obama administration’s official position on who was responsible for the 2008 financial meltdown, a Sacramento jury in late August thwarted a federal prosecutor’s effort to charge borrowers with mortgage fraud after the defense successfully argued that executives who signed off on the loans didn’t care whether answers given on mortgage applications were accurate.

Posted on Sep 8, 2014 READ MORE



The Global Banking Game Is Rigged, and the FDIC Is Suing

Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps. And the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it.

Posted on Apr 13, 2014 READ MORE


What’s Working in Ecuador

Ecuadorean President Rafael Correa responded to recession in his country with increased spending on education, health care and infrastructure, and the economy is rebounding fantastically.

Posted on Feb 19, 2013 READ MORE


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