Financial Meltdown Topics

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    Greece continues to face political turmoil over a sovereign debt crisis that has embroiled the country for almost two years. On Monday, the Greek government said it would hold new elections in the face of massive demonstrations against a new austerity package that was approved on Sunday in exchange for a European Union-International Monetary Fund bailout. Under the austerity deal, Greece will fire 15,000 public sector workers this year and...
    Feb 14, 2012 | Story
  • Splash_image20120222-19550-1tvg2d0-0
    Greece is bracing for protests after eurozone finance ministers concluded a deal that will provide a $170 billion bailout in return for another round of deep austerity cuts. The bailout is opposed by several unions and left-wing groups in Greece over new cuts and layoffs imposed on public sector workers. We’re joined by Paul Mason, economics editor at BBC Newsnight and author of the new book, "Why It’s Kicking Off Everywhere:...
    Feb 22, 2012 | Story
  • Occusec
    The latest offshoot of the Occupy Wall Street movement, Occupy the SEC, has submitted a 325-page comment to the Securities and Exchange Commission that calls on regulators to resist the financial industry’s lobbying efforts to water down the Volcker Rule, a section in the Dodd–Frank Wall Street Reform and Consumer Protection Act, that aims to prevent large banks from making certain kinds of risky, speculative investments. The group is made up...
    Feb 24, 2012 | Story
  • By Amy Goodman with Denis Moynihan

    Shareholder meetings can be routine, unless you are Bank of America, in which case it may be declared an "extraordinary event." That is what the city of Charlotte, North Carolina called the bank’s shareholder meeting this week. Bank of America is currently the second largest bank in the US (after JP Morgan Chase), claiming more than $2 trillion in assets. It is also the "too big to...
    May 09, 2012 | Columns & Articles
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    JPMorgan Chase, the nation’s largest bank, is under fire after losing at least $2 billion in derivatives trading it was warned carried high risk. The loss has renewed calls for tougher regulation of Wall Street, with critics saying JPMorgan could have avoided it under regulations the bank opposed. We’re joined by former financial regulator, white-collar criminologist, and University of Missouri-Kansas City Professor William Black,...
    May 15, 2012 | Story
  • Button-black
    White-collar criminologist and former senior financial regulator William Black addresses the grassroots reaction to austerity measures in Europe — from the "Indignados" movement in Spain to the anti-bailout elections in France and Greece — as well as in the United States, where the Occupy movement is re-emerging as the presidential campaign gets into full gear. "Finance is supposed to simply be a middleman to help...
    May 15, 2012 | Story
  • Button-dimon-sm
    As the financial giant JPMorgan Chase continues to suffer major losses on its risky derivatives trades, Nobel Prize-winning economist Paul Krugman says bank chief Jamie Dimon should resign "precisely because he’s been using his supposed wisdom as a way to campaign against reform, and now it’s turned out that he wasn’t that wise after all. In fact, his bank was doing seriously bad stuff." Krugman says, "I think...
    May 17, 2012 | Story
  • Button-europe-austerity
    The European economic crisis is expected to top the agenda at the G8 meeting tomorrow at Camp David. In Greece, voters will soon head to the polls for another round of elections which will be viewed by many as a referendum on the euro. Our guest today, Nobel Prize-winning economist Paul Krugman, warns the current bank run in Greece could spiral into the end of the eurozone. "It’s really quite shocking," Krugman says. "I...
    May 17, 2012 | Story
  • Button-predator-nation
    Two years after directing the Academy Award-winning documentary, “Inside Job,” filmmaker Charles Ferguson returns with a new book, “Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America.” Ferguson explores why no top financial executives have been jailed for their role in the nation’s worst economic crisis since the Great Depression. We also discuss Larry Summers and the revolving door between academia and...
    May 29, 2012 | Story
  • Button-ferguson
    The Labor Department has just announced the United States economy gained only 69,000 jobs in May and the unemployment rate rose to 8.2 percent. We air part two of our interview with Academy Award-winning director Charles Ferguson, who first examined the network of academic, financial and political players who contributed to the nation’s financial crisis in his documentary, "Inside Job." In his new book, "Predator Nation:...
    Jun 01, 2012 | Story