Iceland’s insistence on following a different drummer after the global economic collapse is evidence that a more ethical approach can work.
On March 20, European Union officials reached a historic deal to save failing banks by tapping both taxpayer and depositor funds. It may be illegal under EU Parliament, but is being rushed through to lock taxpayer and depositor liability into place before the dire state of eurozone banks is exposed.
David Stockman, who served as Ronald Reagan's budget director from 1981 to 1985, leveled some harsh criticism at his former boss as well as at President George W. Bush in an op-ed he penned about the dire state of the economy for The New York Times titled "Sundown in America."
The financial meltdown and subsequent bailout have dampened Americans' faith in government and stirred widespread outrage. Neil Barofsky, who once served as special inspector general in charge of oversight of the Troubled Asset Relief Program, says that anger may point the way toward reform.
The popular HBO series "Game of Thrones" is often considered nerd porn, and yet it is more than just about war, sex, dragons and other mythical creatures. At its core, the game alluded to is entirely based on politics and, in some ways, mimics our modern political system. So what would happen in the Seven Kingdoms if super PACs existed?
Pulitzer Prize-winning columnist David Cay Johnston wrote Friday that the Occupy Wall Street protests are unlike any demonstrations he has seen in more than 40 years, and that the reasons the movement differs so much are the same reasons why it could succeed in sparking major change. (more)