‘Reforming Global Finance’
News, opinion, proposals for reforming finance at global and national levels. Tracks new laws to curb speculative finance, transaction taxes and how financiers caused the collapse of 2008-9. News on monetary-systems reform of the Federal Reserve, IMF, World Bank, BIS and central banks.
The Washington Post is reporting that the federal government has quietly decided to exempt Citigroup (C) from a large future tax bill in allowing it to exit the TARP program. This is a backdoor bailout worth billions and is an outrage that demonstrates the lengths to which government will go to gift these organizations taxpayer money. Read more...
Posted: 15 Dec 2009 03:06 AM PST Simon Johnson is dead-on exposing this dangerously erroneous belief system! - Ed. The guiding myth underpinning the reconstruction of our dangerous banking system is: Financial innovation as-we-know-it is valuable and must be preserved. Anyone opposed to this approach is a populist, with or without a [...]
"Other News" is a personal initiative seeking to provide information that should be in the media but is not, because of commercial criteria. It welcomes contributions from everybody. Work areas include information on global issues, north-south relations, governance of globalization. The "Other News" motto is a phrase which appeared on the wall of [...]
In a sign that the Federal Reserve is circling the wagons, chairman Ben Bernanke has an op-ed in the Washington Post that attempts to defend the central bank’s role. What is interesting is how much the tables have turned. The Obama effort to make the Fed into the uber bank regulator has become a rout, with decent odds that the Fed will have its [...]
Ellen Brown, November 27th, 2009 http://www.webofdebt.com/articles/lesson_japanese.php “We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money [...]
1. REFLECTIONS ON THE PAST WEEK Not a good start. A leading article on "Back to the Future" in The Times (London), Monday 2nd November states that "Capitalism is the most efficient way of creating wealth and also of spreading it. ... Above all, an efficient economy requires faith in the banking system". Read more...
INTERNATIONAL TRADE UNION CONFEDERATION Brussels, 9 November 2009 (ITUC OnLine): The world’s trade union movement has welcomed the decision by G20 Finance Ministers meeting in St Andrews, Scotland, to keep jobs high on the agenda for economic recovery and reform, and to “maintain government support for the recovery until it is assured”. [...]
Thursday November 5, 2009 EUROPEAN COMMISSION URGED TO BREAK STRANGLEHOLD OF FINANCIAL SECTOR ***** The new ALTER-EU report 'A captive Commission - the role of the financial industry in shaping EU regulation' can be found at: http://www.alter-eu.org/en/system/files/publications/CaptiveCommission.pdf *** Brussels, November 5, 2009 - The [...]
Ellen Brown, November 10, 2009 www.webofdebt.com/articles “Regular people know that they got done in by excesses on Wall Street, and they see a Democratic administration shoveling trillions of dollars to the same Wall Street banks that caused the mess. . . . What is overdue is a little bit of populist retribution against the people who [...]
BBC World Service Poll Wide Dissatisfaction with Capitalism – Twenty Years after Fall of Berlin Wall
Monday 9 November 2009 The BBC World Service today released our latest poll on views towards free enterprise and the economic role of the state. Suffice it to say that recent events are putting strain on the market’s social contract with average citizens. Almost one in four (23%) across 27 countries feel that capitalism is fatally flawed, [...]