BofA Pays $2.43 Billion to Settle Merrill Lynch Suit

Alexander Reed Kelly / Truthdig Sep 28, 2012 Rather than fight its way through court, Bank of America has dipped into its “litigation reserves” to settle a shareholder lawsuit over the dubious methods it used to acquire Merrill Lynch as the credit crisis ramped up. Dig deeper ( 1 Min. Read )

Update: 25 People at the Heart of the Meltdown

Alexander Reed Kelly / Truthdig Aug 7, 2012 At the height of the financial crisis, The Guardian identified 25 bankers, economists, politicians and financial officials who helped bring about the worst economic crisis since the Great Depression. What are they up to now? Dig deeper ( 2 Min. Read )

China’s Economic Growth Slows

Alexander Reed Kelly / Truthdig Jul 13, 2012 Growth for the world’s largest exporter hit its slowest pace in three years as demand for Chinese products waned in the U.S., Europe and elsewhere, prompting the country’s leaders to encourage investment with stimulus measures. Dig deeper ( 1 Min. Read )

Petition Demands Dimon Be Fired From Fed Board

Alexander Reed Kelly / Truthdig Jun 26, 2012 On Monday, economist Simon Johnson presented officials at the Federal Reserve with a petition containing 38,000 signatures appealing for the removal of JPMorgan Chase CEO Jamie Dimon from the Federal Reserve Board of Governors. Dig deeper ( 1 Min. Read )

How Big Banks Victimize Our Democracy

Alexander Reed Kelly / Truthdig Jun 26, 2012 Yves Smith, creator and editor of the finance blog Naked Capitalism, and Matt Taibbi of Rolling Stone spoke with Bill Moyers about the continuing fallout of the economic crisis and the corruption, ignorance and collusion that guarantee the situation will not improve for most Americans. Dig deeper ( 2 Min. Read )

Rich Greeks Look the Other Way

Alexander Reed Kelly / Truthdig Jun 14, 2012 Amid a festering economic crisis, Greek society’s super-rich have retreated to their private mansions and island resorts to sip cocktails, kick back on imported Asian sand and figure out new ways to slip their money out of the country. Dig deeper ( 1 Min. Read )

Banks Rake In Highest Quarterly Profits Since 2007

Staff / Truthdig May 24, 2012 The American banking industry enjoyed profits of $35.3 billion in the first quarter of 2012, the industry’s best performance since 2007, according to the Federal Deposit Insurance Corp. But it did so largely because banks put aside less money to cover bad loans, while keeping a lid on new lending. Dig deeper ( 1 Min. Read )

We Told You So

By James K. Galbraith, The Baffler May 19, 2012 Two months before the collapse of Lehman Brothers in 2008, a group of experts and I warned the Obama campaign about the likelihood of a global economic crisis. Not the slightest word came back. Dig deeper ( 10 Min. Read )

Gloom and Doom on the Global Job Front

Staff / Truthdig Apr 30, 2012 In the wake of the 2008 crash and the widespread government-imposed austerity that followed, high levels of long-term and youth unemployment across the globe are in danger of becoming fixed, according to an annual report by the International Labor Organization. Dig deeper ( 1 Min. Read )

In Europe, Crisis-Provoked Suicide on the Rise

Staff / Truthdig Apr 14, 2012 Tally the fatal, unhappy costs of runaway capitalism. Across Europe, businessmen unable to cope with the world made by the 2008 economic crash are taking their lives. Dig deeper ( 2 Min. Read )

Vacant Houses Outnumber Homeless People in U.S.

Staff / Truthdig Jan 1, 2012 There are more than five times as many vacant homes in the US as there are homeless people, according to Amnesty International USA Since 2007, banks have shuttered about 8 million American houses, almost doubling the previous number, while 35 million homeless shiver in the coldSince 2007, banks have shuttered about 8 million American houses, almost doubling the previous number, while 3. Dig deeper ( 1 Min. Read )

Budget Crises Put an Expiration Date on Death Row

Staff / Truthdig Dec 28, 2011 At least five states are considering getting rid of the death penalty, but the possible repeals have nothing to do with ethics. A study has shown that executions cost taxpayers three times as much as putting an inmate away for life, and budget shortfalls are making even capital punishment hawks doubt the sensibility of their position. Dig deeper ( 1 Min. Read )