Moral Outrage
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Posts Tagged ‘financial crisis

Bankers warn market crash could hit within weeks

August 26, 2011

Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group’s implosion nearly three years ago. Credit default swaps on the bonds of Royal Bank of Scotland, BNP Paribas, Deutsche Bank and Intesa Sanpaolo, among others, flashed warning […]

The retirement age is too high

January 20, 2011

It’s dangerous conventional wisdom the idea that with an older population, people must work longer and retire with less. This idea is being used to rationalize cuts in old-age benefits in numerous advanced countries. Raising the retirement age cuts benefits for those who can’t wait to retire, and who often won’t live long. “We” are […]

Prominent economists on failing U.S. economic growth

January 11, 2011

To hear a number of prominent economists tell it, it doesn’t look good for the U.S. economy, not this year, not in 10 years. Harvard’s Martin Feldstein said he believes the outlook for U.S. economic growth in 2011 is less sanguine than many believe. First, the boost to growth from government spending will be drying […]

Banks too big to fail also too big to jail

September 4, 2010

Barclays recently coughed up $298 million for violating a US trade law. A judge is still deliberating on a settlement that may cost Citi $70 – 100 million for misleading investors about $40 billion in sleazy subprime holdings. Wells Fargo settled for $200 million after being caught gouging their own customers. This follows a $550 million […]