Haircut Time For Bondholders Reforming the Global Financial System The tax haven scandal must end: Britain's offshore tax havens are central to worldwide tax dodging. We must clean up our financial act Foreclosure Filings in U.S. Jump 30%, Thwart Prevention Effort: Foreclosure filings in the U.S. climbed 30 percent in February from a year earlier as the worsening economy thwarted efforts by the government and lenders to prevent homeowners from losing property, RealtyTrac Inc. said. Federal Budget Deficit Reaches $765B In 5 Months : Lower tax revenue and massive government spending on the bank bailout pushed the federal deficit to $765 billion in the first five months of the budget year, well on its way to hitting the Obama administration's projection of a record annual imbalance of $1.75 trillion. More Companies At Risk of Failing: Moody's, the ratings agency, recently published a list of "bottom rung" companies most likely to default on their debt. The criteria are technical, but the upshot is that a lot of companies are in deep trouble - and the list is getting longer, not shorter.
By Mike Whitney
When George Soros recently said that the financial system had "effectively disintegrated", it caused quite a flap. But Soros was not exaggerating. The financial system has disintegrated. What we are experiencing now is just the fallout from that event. Continue
Flushing the Parasites
By Nikki Alexander
Why rob just one bank when you can rob the whole nation? And why rob just one country when you can rob them all? Flushing the global economy of this systemic parasite begins with understanding how its debilitating web of debt is manufactured. Continue
Friday, 13 March 2009
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