In America, bubbles come in two forms: how Wall Street insiders suck in a sucker’s money before the speculative bubble pops and how those same scam artists stay inside a protective bubble to spare themselves from the fallout. In this…
Tag: Wall Street
Occupying the Heart of the Beast
Finally, a truly “populist” movement not like the Tea Party funded by billionaires to serve the interests of billionaires has arisen in America to challenge the growing economic inequities in U.S. society. Phil Rockstroh found his time with the “99…
How the Rich Won the Class War
Over the past several decades, the Right has convinced millions of Americans that Government is the source of all problems, that Corporations must have near-total freedom, and that the Rich must enjoy low taxes. The consequence has been a devastated…
Skating to the Financial Abyss
Even as another potential Great Depression looms, the U.S. political/media system seems incapable of addressing the crisis and devising coherent answers. Instead, the old partisan and lobbying games dominate the political world and obsession with trivia commands the news media’s…
Wall Street Was ‘Too Big to Jail’
HBO’s new docudrama on the Wall Street crash of 2008 details the frantic government efforts to stabilize the banking system and stave off a global depression, but the program misses the systemic fraud and other crimes that were at the…
Perp-Walking the Wrong Banker?
The sexual-assault arrest of International Monetary Fund chief Dominique Strauss-Kahn touched off a frenzy of media coverage in New York, including repeated showing of the French banker looking disheveled in handcuffs. But Danny Schechter pines for the day when the…