Financial Meltdown Topics

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

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  • Florida has been hit particularly hard by the recession. It’s facing its worst unemployment rate since 1976, with nearly one in ten people out of work, and it has the second-highest foreclosure rate in the country. Florida has also been described as one of the birthplaces of the financial crisis. We speak with University of South Florida Professor Gary Mormino, who describes the state’s economy as a giant Ponzi scheme. He’s...
    Apr 06, 2009 | Story
  • For some analysis on the G20 summit and the financial crisis, we speak to a leading thinker on the global economy. David Harvey is a Marxist geographer and distinguished professor of anthropology at the Graduate Center of the City University of New York. He is the author of several books, including The Limits to Capital and A Brief History of Neoliberalism. [includes rush transcript]
    Apr 02, 2009 | Story
  • President Obama is in London today ahead of the G20 summit, where world leaders are gathering to discuss the global economic crisis. Tens of thousands of protesters from around the world are gathering in London to demonstrate against the G20 talks and call for economic justice and environmental accountability. Several large demonstrations directed at the failed banking and financial sectors are expected today, April 1st, which some protest...
    Apr 01, 2009 | Story
  • As the nation’s economic and housing crisis worsens, homelessness is also on the rise, and an increasing number of people are setting up roving encampments or shanty towns that are popularly known as tent cities. Seattle’s newest tent city is called Nickelsville. The encampment is made up of over 100 fuchsia tents and is named to protest Mayor Greg Nickels’s policies toward the homeless. [includes rush transcript]
    Mar 30, 2009 | Story
  • In a new article in Rolling Stone Magazine, journalist Matt Tabbi takes an in-depth look at the story behind AIG. "The reality is that the worldwide economic meltdown and the bailout that followed were together a kind of revolution, a coup d’état," writes Taibbi. "They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected...
    Mar 25, 2009 | Story
  • We speak with Independent Senator Bernie Sanders of Vermont, who is attempting to block President Obama’s nominee to head the Commodity Futures Trading Commission, Gary Gensler, a former Goldman Sachs employee. "Gensler worked with Sen. Phil Gramm and Alan Greenspan to exempt credit default swaps from regulation, which led to the collapse of A.I.G. and has resulted in the largest taxpayer bailout in U.S. history," Sanders said....
    Mar 25, 2009 | Story
  • The Obama administration unveils its $1 trillion plan to buy toxic assets from banks and restore the financial system. But should we return to the way it was? We speak with Chicago lawyer Thomas Geoghegan about his new Harper’s Magazine cover story, "Infinite Debt: How Unlimited Interest Rates Destroyed the Economy." Geoghegan writes, "We dismantled the most ancient of human laws, the law against usury, which had existed...
    Mar 24, 2009 | Story
  • Treasury Secretary Timothy Geithner is preparing to unveil a plan today to purchase as much as $1 trillion in troubled mortgages and other assets from banks. The government is reaching out to hedge funds, private equity firms and sovereign wealth funds to help buy the toxic assets. The Obama administration has described the plan as a public-private partnership, but most of the actual money will be put up by the government. We speak with Nobel...
    Mar 23, 2009 | Story
  • Appearing on Capitol Hill, AIG CEO Edward Liddy was repeatedly questioned over why the failed insurance giant is paying out over $165 million in bonuses after it received a $170 billion taxpayer bailout. While the Obama administration is expressing outrage, more details have come to light indicating that some officials have known about the bonuses for months. Meanwhile, little attention has been paid to what might be a bigger scandal:...
    Mar 19, 2009 | Story
  • The British author Tariq Ali weighs in on the economic crisis with an appeal to reject the taboos on discussing socialism in the United States. Ali says the popular movements in South America provide a model for US activists to follow in pushing for changes such as socialized healthcare. [includes rush transcript]
    Mar 19, 2009 | Story