The Paulson-Bernanke Bank Bailout: Will the Cure be Worse than the Disease?

September 22, 2008
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Counterpunch Saturday’s $700 billion junk mortgage bailout is the largest and worst giveaway since a corrupt Congress gave land grants to the railroad barons a century and a half ago. If it goes through, it will shape the coming century by giving finance unprecedented power over debtors – homebuyers, industry, state and local government,...

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Financial Bailout: America's Own KleptocracyThe largest transformation of America's Financial System since the Great Depression

September 20, 2008
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Global Research Nobody expected industrial capitalism to end up like this. Nobody even saw it evolving in this direction. Marxists saw industrialists growing into giant trusts and depriving workers of the wages needed to buy their output, and the post-1980 era of corporate raiding has indeed seen downsizing and outsourcing of the labor force....

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US Banking Intervention

September 17, 2008
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Michael Hudson on the highly respected Democracy Now, telling the inside story on the bankers bailouts.

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US Seizes Control of AIG with $85 Billion Bailout

September 17, 2008
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A democracynow interview with Nomi Prins and Michael Hudson. Audio of democracyNow interview. A copy of the video can also be downloaded from here. The US government has seized control of insurance giant American International Group in an unprecedented $85 billion bailout. The Federal Reserve made the deal on Tuesday to save AIG from...

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Bailout for McCain

September 17, 2008
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An interview by Karl Fitzgerald, Renegade Economists podcasts. Bailout for McCain

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The Chicago School's long descent

September 12, 2008
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Asia Times As a graduate of the University of Chicago (1959) and also of its Laboratory School (1955-56), I think my experience there confirms the picture portrayed by Henry Liu in his wonderful essay last week on Milton Friedman and the “Money Matters Controversy”. (See Friedman’s misplaced monument, Sep 5.) My introduction to the...

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The Worsening U.S. Debt Crisis

September 9, 2008
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An interview with Economist Michael Hudson, by Mike Whitney Global Research. Mike Whitney: On Friday afternoon the government announced plans to place the two mortgage giants, Fannie Mae and Freddie Mac, under “conservatorship.” Shareholders will be virtually wiped out (their stock already had plunged by over 90 per cent) but the US Treasury will...

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The Next Big Bail Outs: State, Local and Private Pensions

July 31, 2008
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Counterpunch Early on the morning of July 30, President Bush signed the act that the Senate had passed at a special session the previous Saturday. The new “housing act” (a more honest title would have been the “Financial Bailout Act of 2008”) authorizes the Treasury and Federal Reserve Board to provide unlimited credit to...

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A Black Agenda Report: The Fictitious Economy, Part 2

July 30, 2008
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Transcript of a A Guns And Butter Interview by Bonnie Faulkner originally broadcast on KPFA radio. In the second half of an hour long interview with economist Dr. Michael Hudson broadcast on Guns And Butter June 25, 2008, Dr. Hudson explains some of the factors in the price of oil that are seldom discussed...

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Rewarding the Bubble's Enablers: Why the Bail Out of Freddie Mac and Fanny Mae is Bad Economic Policy

July 15, 2008
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A Counterpunch Special Report I am writing this article about Fannie Mae and Freddie Mac while sitting in the Queens Botanical Garden. This was not my plan today. The central air conditioning in my apartment broke down six weeks ago and still has not been fixed. (It’s a nice condominium building, but accidents happen.)...

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Getting to the Heart of America's Economic Crisis

July 1, 2008
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A Counterpunch interview by Mike Whitney Mike Whitney: Before John Kennedy took office, anyone making an income of over $200,000 was taxed at a rate of 93 per cent. Corporations also paid a much higher percentage of the total tax burden than they do today. The higher tax rates on the wealthy never hurt...

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A Black Agenda Report, The Fictitious Economy, Part 1

June 25, 2008
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A Black Agenda Report Transcript of a Guns And Butter Radio Interview by Bonnie Faulkner originally broadcast on KPFA radio. There is a rising sense of alarm in the United States, as tangible effects of the economic crisis of empire are unmistakably apparent at every hand. Ordinary people are burdened by debt as never...

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America's Free Lunch is Over: How Should the Middle East invest its Rising Trade Surplus?

June 23, 2008
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Published in the June 2008 issue of The Gulf, a weekly business news magazine published in Bahrain, and in Counterpunch Every week Mid Eastern countries acquire more dollars in payment for their oil and other exports, and also for rising U.S. investment in their stock markets and other property. This confronts them with a...

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The Game is over: There Won't be a Rebound

June 20, 2008
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An Interview by Mike Whitney with Michael Hudson on the Economy – Counterpunch 1–Fed chairman Bernanke has been on a spree lately, delivering three speeches in the last two weeks. Every chance he gets, he talks tough about the strong dollar and “holding the line” against inflation. Treasury Secretary Henry Paulson even said that...

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The Fed Sinks the Dollar: The Price-Wage Squeeze

May 1, 2008
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Counterpunch Against the recommendations of most economists and even the Financial Times of London, the Federal Reserve Board yesterday cut its discount rate by yet another quarter-point, to just 2%. Ostensibly, the intention is to try and spur economic “recovery” – as if a cut in the interest rates would do this. At first...

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Resurrecting Greenspan: Hillary Joins the Vast, Rightwing Financial Conspiracy

April 17, 2008
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Counterpunch On Monday, March 24, presumably representing Wall Street – as any New York senator must do in view of its dominant financial role in the state’s political campaigns – Hillary Clinton proposed that Congress show its bipartisan spirit by appointing an “emergency working group on foreclosures,” to be led by none other than...

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A Trillion-Dollar Rescue for Wall Street Gamblers, But No Money for Families and Retirees

April 11, 2008
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Counterpunch If the move to a Unitary Executive of unfettered presidential power frightens you, America’s radical right turn to Unitary Finance should compound your fears – and your debts as well. The financial events of the last two weeks of March 2008 demonstrate that the “economic royalists” and “money changers” whom Franklin Delano Roosevelt...

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FIRE Economy in Crisis

April 7, 2008
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This is an iTulip A link to the iTulip forum can be found here. PDF Part I PDF Part II

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A Grand Global Bargain? Save the Economy, Dismantle the Empire

March 15, 2008
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Counterpunch Today’s deepening financial and economic crisis cannot be alleviated without addressing a number of problems that the public does not really want to hear about. Even to cite them raises a wall of cognitive dissonance. For starters, today’s debt problem is not marginal, but has become structural – and structural problems cannot be...

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Henry George's Political Critics

January 25, 2008
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Henry George’s Political Critics, in American Journal of Economics and Sociology 67 (January 2008), pp. 1-46.

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