Capital Punishment: Lehman on its way to the Gallows? `Tectonic' Shift on Wall Street as Lehman Fails, Merrill Sold Financial Russian Roulette The Crash of Western Capitalist Civilization?
By Mike Whitney
The funny thing about capitalism is that you need capital to play. When the bank-vault is full of nothing but worthless mortgage-backed securities (MBS) and overvalued junk bonds; the whole thing goes belly-up fast. Continue
By Christine Harper
In the biggest reshaping of the financial industry since the Great Depression, two of Wall Street's most storied firms, Merrill Lynch & Co. and Lehman Brothers Holdings Inc., headed toward extinction. Continue
By PAUL KRUGMAN
2008 could be 1931 revisited. Continue
By Richard_C_Cook
“Train-wreck” doesn't even begin to describe what is starting to happen to the U.S. today with the financial crisis, an onrushing depression, and the failure of George W. Bush's war policy as he is faced down by Iran and the Russian bear. But in an even broader sense, the West, as a civilization, after a century of world war and the utter failure of global finance capitalism, may have reached its limits. Continue
Tuesday, 16 September 2008
Posts
