VIDEO: Michael Hudson and Bill Black: A Greek Bailout Is Really a Bailout of Western Banks
Jul 1, 2015 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.
California Trial Places Mortgage Blame on Bankers
Sep 8, 2014 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.
The Global Banking Game Is Rigged, and the FDIC Is Suing
Apr 13, 2014 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.
What’s Working in Ecuador
Feb 19, 2013 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.
