economic crises

Columbia Journalism Review Assesses Failure of Business Press to Warn of Crises

Hat tip to lambert on correntewire for providing the link to the latest cover story in the Columbia Journalism Review, Power Problem: The business press did everything but take on the institutions that brought down the financial system, by Dean Starkman.

Starkman and a team of researchers set out to examine how well the nation’s business press did in providing warning of the coming financial crises in the past decade. They selected a list of the nine business-news outlets they considered the most important (Wall St. Journal, New York Times, Washington Post, Los Angeles Times, Financial Times, Bloomberg, Forbes, Fortune, and BusinessWeek) and the financial institutions with leading roles in the collapse (Wall Street: AIG, Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, Morgan Stanley. Lenders: Ameriquest, Citigroup, Countrywide, Fannie Mae, Freddie Mac, IndyMac, New Century, Washington Mutual).

"The financial system is playing us for chumps" Bill Moyers is told

First posted Sat, 02/14/2009 - 23:31, not to be overlooked - standingup

“The financial system is playing us for chumps”

That’s what Simon Johnson, former chief economist at the International Monetary Fund, told Bill Moyers on the Bill Moyers Journal that just last night.

And the interview became even scarier. What Johnson and Moyers made clear, without saying it in so many words, is that American democracy is on the line.

Not Chile. Not Argentina. Not Bolivia or anywhere else. America.

What is at stake is the continued existence of the United States as a democratic republic.

Political Power of Just 6 Banks is the Problem

Last week ago, Institutional Risk Analytics interviewed Josh Rosner of Graham Fisher & Co and David Kotok of Cumberland Advisors, and the discussion is one of the most direct and revealing of the true political nature of the financial collapse I have yet seen.

Saving the financial system without a national industrial policy is worse than useless

Sorry, President Obama, there simply is no time for a honeymoon. As you said in your Inaugural Address yesterday, "The ways we use energy strengthen our adversaries and threaten our planet." Unfortunately, it seems that this idea has not yet filtered into your administration’s thinking and planning regarding what to do about the financial collapse.

What Might Real Financial Reform Look Like?

promoted by roxy - originally posted 2008-10-18 04:20:34 -1000

In What Might Real Financial Reform Look Like?, The Agonist editor and former Morgan Stanley banker Sean-Paul Kelley has outlined ten critical financial reforms that, amazingly, neither Obama nor McCain -- nor anyone in the mainstream media for that matter -- are even discussing.

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