State, Local and Private Pensions:The Next Big Bail Out
State, Local and Private Pensions:The Next Big Bail Out Posted in Europe, USA, economy by eldib on August 1st, 2008 State, Local and Private Pensions:The Next Big Bail Out By: MICHAEL HUDSON The great economic fight of our epoch is being waged by the FIRE sector Finance, Insurance and Real Estate against the industrial economy and consumers. Its objective is to maximize property prices and the volume of debt relative to what labor and industry are able to earn. Rising debts an
UPDATE 1-SIFMA faults raters, calls for global advisory board
UPDATE 1-SIFMA faults raters, calls for global advisory board July 31st, 2008 (Adds quote, rating companies, byline) By Walden Siew NEW YORK, July 31 (Reuters) - Credit rating agencies failedto check the accuracy of information they used to ratestructured bond products and may have relied on data that was suspect on its face, a U.S. financial industry group said onThursday. The Securities Industry and Financial Markets Associationalso said more transparency is needed to reform a credit
Apocalypse Down Under: Aussie bank s write-offs signal doom for Wall … - Online Journal
Monday s trading on the New York Stock Exchange (NYSE) was a real humdinger. It started off with the White House announcing that this year s fiscal deficit would soar to a new record of nearly $500 billion. That was followed by news of rising oil …