One after the other, all the major central banks of the world follow the regrettable example of the Fed and the ECB in reversing their efforts to contain the greed of the financial mammoths. The American central bank, the Fed, and the European Central Bank will continue feeding the giant financial conglomerates with $4.5 trillion […]The world condemned by neo-liberals to feed trillions to banks: the New Deal exorcised
May 2, 2019 by 1 Comment
One after the other, all the major central banks of the world follow the regrettable example of the Fed and the ECB in reversing their efforts to contain the greed of the financial mammoths. The American central bank, the Fed, and the European Central Bank will continue feeding the giant financial conglomerates with $4.5 trillion […]Deutsche Bank chased away from US, threatened with more fines
December 29, 2016 by Leave a Comment
The US Department of Justice settled its claims against Deutsche Bank, the biggest German lender, for packaging and selling toxic mortgage securities to uninformed customers prior to the 2008-2010 financial crisis. Initially, the Justice Department had asked for $14 billion, but it seems it settled for a fine of $7.2bn. However, this is not the […]EU Banks still get subsidies from impoverished citizens
October 22, 2013 by Leave a Comment
Five years after the melt down of the western financial system, triggered by the bankruptcy of Lehman Brothers in September 2008, and the European taxpayers still pay the price. According to European Commission’s estimates the cost of government (aka taxpayer and all citizens) support to failing banks in Eurozone reached €4.5 trillion during the first […]ILO: Unemployment to increase by 8.1 million in 2013-2014
January 22, 2013 by 2 Comments
An International Labour Office (ILO) report published today entitled “Global Employment Trends 2013: Recovering from a second jobs dip”, estimates that unemployment in all 185 member states of the organisation, will rise again this year by 5.1 million and by another 3 million in 2014. The ILO is the international organization responsible for drawing up […]
