Iceland votes on bank payback deal: Icelanders have headed to the polls in a referendum on repaying the equivalent of $5.3bn to the UK and the Netherlands in the wake of the collapse of Iceland's online Icesave bank. Clashes erupt in debt-ridden Greece: Greek police and protesters have clashed in Athens as anger over government spending cuts in the debt-ridden nation continues to fester. Regulators close banks in four states: U.S. bank regulators closed four banks in as many states on Friday, bringing the number of failures so far this year to 26 as deteriorating loans continued taking a toll on financial institutions 15,000 S.F. workers given layoff notices: Newsom ordered the layoff notices be sent to most of the city's 26,000 workers and said the overwhelming majority of them will be hired back within two weeks to work 37.5 hours a week instead of their current 40 - meaning they'll see a 6.25 percent cut to their paychecks. Jobless rates rose in every state in ‘09: The sharpest rise occurred in Michigan, where the average jobless rate for 2009 was 13.6 percent, up 5.3 points from 2008’s average of 8.3 percent. US students rally over budget cuts: Students have carried out rallies at dozens of universities and schools across the United States in protest against cuts to public education funding. Wrongful foreclosure ruling in King County court: SEATTLE In one of the first home-foreclosure cases to reach a jury verdict in Washington, a judge has ordered a $230,000 settlement after a disabled senior's Whidbey Island home was wrongfully auctioned off.
Sunday, 7 March 2010
By Qais Nawwaf
One wonders whether Mr. Roberts would’ve displayed this same white man’s burden, vilifying misbehaving oppressed peoples, by admonishing Native American tribes who may have been at odds during the theft of their land by white settlers. Continue
By Mike Whitney
Confidence is flagging because unemployment is high. And unemployment is high because demand is weak. That means that the money that should be going to people who will generate more economic activity, is actually going to prop up lending institutions that don't lend and banks that operate as casinos. Continue
By Darius Guppy
The banks that control the world’s supply of money are no better than counterfeiters – and their system of juggling debt has left the global economy teetering on the brink of ruin. Convicted fraudster Darius Guppy offers a provocative personal view. Continue
By Shahien Nasiripour
One of the world's leading economists said Wednesday that the very structure of the Federal Reserve system is so fraught with conflicts that it's "corrupt." Continue
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