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Financial Meltdown Topics

Democracy Now! stories, posts and pages that relate to Financial Meltdown

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  • Greece
    As our broadcast went to air, lawmakers in Greece were voting on — and later approved — a new round of sweeping austerity measures amidst a general strike that’s brought tens of thousands into the streets. Riot police have fired volleys of tear gas, smoke bombs and stun grenades in a bid to clear the masses of Greek protesters surrounding the parliament in Athens. The chaotic standoff began Tuesday when police stormed the adjacent Syntagma...
    Jun 29, 2011 | Story
  • Weisbrot
    The Greek parliament was set to approve a $40 billion package of spending cuts, tax increases and privatizations as a condition for a massive bailout to avert the eurozone’s first default. Without a new plan in place, the European Union and International Monetary Fund said they would withhold 12 billion euros of loans, which Greece needs to repay debts due in mid-July. Meanwhile, French Finance Minister Christine Lagarde has been named the new...
    Jun 29, 2011 | Story
  • In New York City, activists are camping out near City Hall to protest budget cuts and layoffs. They’ve dubbed the encampment "Bloombergville."
    Jun 24, 2011 | Web Exclusive
  • Button_4
    The City of Orlando, the home of Disney World in Florida, is being sued in court today over a city law that has effectively made it illegal for any group to feed more than 25 people at a time in downtown parks without a permit. It also limits groups to no more than two permits per park, per year. The group Food Not Bombs has refused to obey the new law—saying food is a right, not a privilege—and has continued to serve free meals to the poor...
    Jun 24, 2011 | Story
  • Kitty_piercy_button
    Mayors from cities nationwide have endorsed a resolution calling on Congress to end funding for the wars in Iraq and Afghanistan and instead spend the money at home. The measure from the U.S. Conference of Mayors was drafted and pushed through by the activist group CodePink. We speak with the resolution’s sponsor, Kitty Piercy, mayor of Eugene, Oregon. [includes rush transcript]
    Jun 23, 2011 | Story
  • Michigan_button
    A group of Michigan residents have filed a suit challenging a controversial new state law that allows the governor to appoint an unelected emergency manager or corporation to take over financially distressed towns and cities and effectively fire elected officials. The law empowers these unelected managers to sell off public property, shred union contracts, and privatize government services, without any input from local voters. Michigan now has...
    Jun 23, 2011 | Story
  • Athens_button
    Greece was rocked Wednesday by massive street protests and a strike of millions of workers against the government’s austerity plans. In response, embattled Greek Prime Minister George Papandreou announced he will reshuffle his cabinet to try to achieve consensus on how to address the country’s crippling debt crisis. The new austerity package for Greece includes $9.4 billion in tax hikes, doubling past measures agreed to with...
    Jun 16, 2011 | Story
  • On August 2, the U.S. government is expected to reach its $14.3 trillion borrowing limit. Democrats want to curb the federal deficit by pushing for new taxes and eliminating many tax loopholes, while Republicans have called for steep spending reductions but no new taxes. For more, Democracy Now! spoke with Sally Kohn, author of a recent USA Today op-ed titled "Don’t Believe the Hype About U.S. Debt." [includes rush transcript]
    Jun 13, 2011 | Web Exclusive
  • Rosner_morgenson
    A prominent Wall Street analyst predicted this week that not a single top executive at Goldman Sachs will face criminal prosecution for the company’s role in causing the financial meltdown of 2008. “I think that there is a genuine sense out there that there are two sets of rules, one for big and powerful institutions that are deemed to be too politically interconnected or powerful to fail, and the rest of us, Main Street,” says our guest...
    Jun 02, 2011 | Story
  • Play_home_foreclosures
    The Huffington Post has revealed that a set of confidential federal audits accuse the nation’s five largest mortgage companies of defrauding taxpayers in their handling of foreclosures on homes purchased with government-backed loans. The audits conclude the banks cheated the government by overvaluing their losses on foreclosed homes and submitting faulty and defective documents to get federal reimbursement. According to the audit, the banks—...
    May 18, 2011 | Story