Financial Meltdown Topics

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

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  • Amys_column_default_640x360_2014
    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
  • 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...
    February 24, 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:...
    February 22, 2012 | Story
  • Splash_image20120215-12807-vojiox-0
    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...
    February 14, 2012 | Story
  • Splash_image20120210-19377-1l7xwza-0
    The U.S. Justice Department has unveiled a record mortgage settlement with the nation’s five largest banks to resolve claims over faulty foreclosures and mortgage practices that have indebted and displaced homeowners and sunk the nation’s economy. While the deal is being described as a $25 billion settlement, the banks will only have to pay out a total of $5 billion in cash between them. We speak to one of the settlement’s...
    February 10, 2012 | Story
  • Splash_image20120201-9101-1cuuj3w-0
    As homeowners across the nation struggle to keep up with mortgage payments—and in the worse cases face foreclosure—a new investigation reveals that taxpayer-owned mortgage giant, Freddie Mac, made multi-billion-dollar investments that profited if borrowers stayed stuck in high-interest mortgages. Freddie Mac began increasing these investments dramatically in late 2010, at the same time it was making it harder for homeowners to get out of such...
    January 31, 2012 | Story
  • Splash_image20120201-19599-agzqp6-0
    As Freddie Mac comes under scrutiny for betting billions on investments that profit if homeowners they issued loans to are locked into high-interest mortgages, we speak with Arturo de los Santos, a U.S. Marine veteran who was evicted last year in Riverside, California, after Freddie Mac and JPMorgan Chase foreclosed on his house last June. "We were trying to get the bank’s attention to review our case again. We couldn’t...
    January 31, 2012 | Story
  • Splash_image20120130-18089-1nzuwjp-0
    The National Park Service says it will begin enforcing a ban today on Occupy protesters camping overnight in McPherson Square and Freedom Plaza, two parks near the White House where they have been living since October. Members of the Occupy encampment say they will resist eviction. "We are going to do our best to make sure that they’re protected from what is effectively a criminalization of poverty and a criminalization of...
    January 30, 2012 | Story
  • Banking-button
    New York Daily News columnist and Democracy Now! co-host Juan Gonzalez reports the Treasury Department has approved payouts exceeding $5 million for 49 executives at firms that most benefited from the Wall Street bailout. The executives’ pay came despite the $500,000 salary cap established under the Troubled Asset Relief Program (TARP). [includes rush transcript]
    January 27, 2012 | Story
  • Amys_column_default_640x360_2014
    Does Obama’s formation of the new task force aimed at investigating the shoddy mortgage-lending practices that contributed to the financial crisis signify a move to more progressive policies, as MoveOn suggests?
    January 26, 2012 | Columns & Articles