Financial Meltdown Topics

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

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  • Hsbc-1
    The banking giant HSBC has escaped indictment for laundering billions of dollars for Mexican drug cartels and groups linked to al-Qaeda. Despite evidence of wrongdoing, the U.S. Department of Justice has allowed the bank to avoid prosecution and pay a $1.9 billion fine. No top HSBC officials will face charges, either. We’re joined by Rolling Stone contributing editor Matt Taibbi, author of "Griftopia: A Story of Bankers,...
    December 13, 2012 | Story
  • Bsteele
    In part two of our interview with the investigative duo James Steele and Don Barlett, they talk about the media’s failure to hold Wall Street or politicians accountable for financial crimes and mismanagement — topics covered in their new book, "The Betrayal of the American Dream." They also discuss attacks on Social Security, and campaign finance reform. [includes rush transcript]
    August 01, 2012 | Web Exclusive
  • Barlett_steele_book
    The famed award-winning investigative reporting team of Donald Barlett and James Steele have just published a new book, "The Betrayal of the American Dream," a followup to their landmark bestseller, "America: What Went Wrong?" As Republicans and Democrats continue disputing who should bear the brunt of the tax burden, Barlett and Steele argue that America’s middle class has been decimated over the years due to...
    July 30, 2012 | Story
  • Matt_taibbi
    Rolling Stone’s Matt Taibbi joins us to discuss the pattern of systemic corruption by 16 banks accused of rigging a key global interest rate used in contracts worth trillions of dollars. The London Interbank Offered Rate, known as Libor, is the average interest rate at which banks can borrow from each other. Some analysts say it defines the cost of money. Barclays was recently fined $453 million for rigging Libor, and a number of other...
    July 19, 2012 | Story
  • Hayes
    Amidst a series of recent scandals that have rocked the global banking system, journalist Chris Hayes joins us to discuss his new book, "Twilight of the Elites: America After Meritocracy." The book examines how Wall Street and other major institutions, from Congress to the Catholic Church to Major League Baseball, have been crippled by corruption and incompetence. Hayes is host of the MSNBC weekend show, "Up with Chris...
    July 17, 2012 | Story
  • Goldman-sachs-logo
    The Oakland City Council has voted unanimously to end a contract with Goldman Sachs that locked it into a financial deal called an high interest rate swap. The city signed on with the bank in 1998 on the premise it would reduce costs of its bonds amid rising interest rates. But after the 2008 financial meltdown, the Federal Reserve cut interest rates to near zero. As a result, Goldman’s rate dropped to 0.15 percent — even as it...
    July 09, 2012 | Story
  • Activist
    Protesters in Spain are celebrating a major victory after the country’s high court opened a criminal investigation into Rodrigo Rato, the former head of Spain’s biggest mortgage lender, Bankia. Rato, also the ex-chief of the International Monetary Fund, has been ordered to appear in court to face criminal fraud accusations related to the downfall of Bankia, a banking giant at the center of Spain’s economic meltdown. The news...
    July 05, 2012 | Story
  • Filmmaker
    A major force pushing for ex-IMF and Bankia chief Rodrigo Rato’s prosecution has been the May 15 Movement, or M15, known around the world as the "indignados." Organized largely through social media, the M15 launched massive protests in Spain over unemployment, corruption and political stagnation. In Madrid, Democracy Now! host Amy Goodman interviews Stéphane Grueso, an activist and filmmaker who is making a documentary about...
    July 05, 2012 | Story
  • Glen
    Four years after the 2008 economic crisis, not a single top Wall Street executive has gone to jail. "These executives knew that they could take these huge risks and even break laws and pay no real price, and that’s what happened," says Glenn Greenwald, author of "With Liberty and Justice for Some: How the Law Is Used to Destroy Equality and Protect the Powerful," and a blogger for Salon. "It’s not just a...
    July 05, 2012 | Story
  • Button-diman
    Protesters confronted JPMorgan Chase CEO Jamie Dimon on Wednesday as he testified on Capitol Hill about how his bank lost up to $3 billion in risky bets. Lawmakers, however, gave a warmer greeting to the man described as Washington’s favorite banker. JPMorgan spent $7.6 million on lobbying last year, and Dimon has a long record of contributing campaign donations to lawmakers on the Senate Banking Committee. We speak to former investment...
    June 14, 2012 | Story