How FDR and Keynes Ended the Depression

Eric Rauchway — source whomakescentspodcast.com

Advertisements

How Capitalist Central Banks Have Been Creating the Next Financial Crisis

As central bankers, finance ministers, and government policy makers head off to their annual gathering at Jackson Hole, Wyoming, this August, 24-26, 2017, the key topic is whether the leading central banks in North America and Europe will continue to raise interest rates this year; another topic high on the agenda is when the three [...]

Longtime Black Residents Fight Illegal Tax Foreclosures

at Detroit, Michigan. Fifty years ago this summer, a rebellion took place in the city streets. Forty-three people were killed. Thousands more were injured. Over 7,000 were arrested. More than 2,000 buildings were destroyed. Thousands of white families then fled the city, reshaping the makeup of Detroit. Fifty years later, Detroit is being reshaped again, [...]

Moody’s pays $864 million to U.S., states over pre-crisis ratings

Moody's Corp has agreed to pay nearly $864 million to settle with U.S. federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the U.S. Department of Justice said on Friday. The credit rating agency reached the deal with the Justice Department, 21 states and the [...]

Government Settlement With Goldman Sachs Is No Real Punishment

the U.S. Department of Justice, including the attorneys general of New York and Illinois, as well as the Federal Home Loan Banks of Chicago and Seattle and the National Credit Union Administration, reached agreement with the investment bank Goldman Sachs. The firm will pay approximately $5 billion to resolve state and federal investigations into its [...]

Global economic downturn linked with at least 260,000 excess cancer deaths

The economic crisis of 2008-10, and the rise in unemployment that accompanied it, was associated with more than 260,000 excess cancer-related deaths--including many considered treatable--within the Organization for Economic Development (OECD), according to a study from Harvard T.H. Chan School of Public Health, Imperial College London, and Oxford University. The researchers found that excess cancer [...]

Cryptocurrency Crash

One of the more profitable trades this year was in the cryptocurrency Bitcoin. For those unfamiliar, Bitcoin is a digital asset and payment system — a virtual currency. It’s considered a cryptocurrency because it doesn’t require a central bank to handle its transactions. It’s all self-contained through technology that encrypts and records a ledger over [...]