Economy

Ukrainians Get IMF’s Bitter Medicine

Ukraine's acting Prime Minister Arseniy Yatsenyuk. (Photo credit: Ybilyk)

Exclusive: Though lacking legitimacy from national elections, Ukraine’s coup regime has approved a harsh IMF austerity plan that hits Ukraine’s “99 percent” the hardest and asks little from the country’s “1 percent,” including the corrupt “oligarchs,” reports Robert Parry.

Will ‘Too-Big-to-Fail’ Banks Fail Again?

Timothy Geithner (left), then Treasury Secretary, meeting with President Barack Obama in the Oval Office. (White House photo)

Despite Wall Street’s booming recovery, Main Street continues to struggle with high unemployment and low wages, making another bust more likely. And, the “too-big-to-fail” banks may be more vulnerable than they appear, writes Danny Schechter.

Recalling a Proud American Moment

cesar-chavez-movie

United Farm Workers founder Cesar Chavez, with quiet dignity and nonviolent tactics, rallied millions of Americans behind the cause of oppressed farm workers in the 1960s, a remarkable moment recalled in a new movie by Diego Luna, interviewed by Dennis J Bernstein.

Sheldon Adelson’s Own GOP Primary

Casino mogul Sheldon Adelson.

Part of Ukraine’s crisis stems from the political power of 10 “oligarchs,” billionaires in a society with vast income inequality. It is a future that Americans seem headed toward, as one U.S. “oligarch,” Sheldon Adelson, picks his Republican presidential favorite, notes ex-CIA analyst Paul R. Pillar.

Why Europe Shies from Ukraine Showdown

German Chancellor Angela Merkel. (Photo credit: א (Aleph))

Exclusive: Despite pressure from President Obama to escalate the fight with Russian President Putin over Ukraine, the Europeans are reluctant to stoke the crisis any further because it could consume their fragile recovery and ignite more fires of political discontent, notes Andrés Cala.

The Pampered, Delusional Rich

Mr. Moneybags from the "Monopoly" game

America’s rich, who are consolidating more and more of the nation’s wealth in their own hands and giving less and less back, see themselves as “victims” of class envy, and some billionaires even liken their plight to the Holocaust, a stunning deviation from reality, notes Michael Winship.

Why UK’s Tony Benn Didn’t Bend

Tony Benn, a Labour politician in the UK.

Since the Thatcher/Reagan era, “liberals” like Tony Blair and Bill Clinton have scurried toward “safer” political terrain, whether that meant endorsing aggressive wars or embracing deregulation. But some progressives, like UK’s Tony Benn, refused to bend, as Michael Winship recalls.

Europe’s Not So Shiny ‘Recovery’

Spain's Prime Minister Mariano Rajoy. (Screen shot from BBC)

Exclusive: The mainstream U.S. press explains the overwhelming Crimean vote to leave Ukraine as vote-rigging or coercion, but the reality is that “European aspirations” are not so attractive to people aware of the painful life for many in the EU’s “periphery,” from Spain to Greece, as Andrés Cala reports.

Corporate Interests Behind Ukraine Putsch

A screen shot of U.S. Assistant Secretary of State for European Affairs Victoria Nuland speaking to U.S. and Ukrainian business leaders on Dec. 13, 2013, at a session sponsored by Chevron.

Behind the U.S.-backed coup that ousted the democratically elected president of Ukraine are the economic interests of giant corporations – from Cargill to Chevron – which see the country as a potential “gold mine” of profits from agricultural and energy exploitation, reports JP Sottile.

Much Bank Crime, Little Punishment

Attorney General Eric Holder. (Photo credit: Department of Justice)

Wall Street banks made a bundle on securitized subprime mortgages until the bubble began to burst in 2007 inflicting devastating harm on average people around the world. Yet, despite government rhetoric to the contrary, the key culprits have escaped punishment, writes Danny Schechter.