Financial Meltdown Topics

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

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  • 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...
    June 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...
    June 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]
    June 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...
    June 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
  • Treasure-island
    As millions of Americans prepare to file their income taxes ahead of Monday’s deadline, we look at how corporations and the wealthy use offshore banks and tax havens to avoid paying taxes and other governmental regulations. "Tax havens have grown so fast in the era of globalization, since the 1970s, that they are now right at the heart of the global economy and are absolutely huge," says our guest, British journalist Nicholas...
    April 15, 2011 | Story
  • Seg2
    To discuss President Obama’s budget talk and the state of the American economy, we are joined by three guests: Thomas Frank, a columnist at Harper’s Magazine and the author of several books, including The Wrecking Crew: How Conservatives Ruined Government, Enriched Themselves, and Beggared the Nation; Rev. Jim Wallis, the founder of the Sojourners Community and editor of Sojourners magazine, who has been on a hunger fast since...
    April 14, 2011 | Story
  • Seg4
    The Associated Press reported on Wednesday that “General Electric announced it will repay its entire $3.2 billion tax refund to the U.S. Treasury on April 18." The company’s tax record has been in the spotlight since the New York Times reported it paid no federal incomes taxes last year despite earning $14.2 billion in worldwide profits. It turns out AP’s story was based on a press release that was actually written by members of the group...
    April 14, 2011 | Story
  • Seg3
    We discuss the state of the economy in Detroit, "ground zero" for the economic downturn in the United States, with civil rights activist and author, Grace Lee Boggs. "I think it’s very difficult for someone who doesn’t live in Detroit to say you can look at a vacant lot and, instead of seeing devastation, see hope," says Boggs, "see the opportunity to grow your own food, see an opportunity to give young...
    April 14, 2011 | Story
  • Stiglitzbutton
    This week Republicans unveiled a budget proposal for 2012 that cuts more than $5.8 trillion in government spending over the next decade. The plan calls for sweeping changes to Medicaid and Medicare, while reducing the top corporate and individual tax rates to 25 percent. We speak to Nobel Prize-winning economist Joseph Stiglitz, who addresses the growing class divide taking place in the United States and inequality in a new Vanity Fair article...
    April 07, 2011 | Story