FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter...
Has globalization made us more catastrophe-prone?
Obama Has Missed His Moment
By Chris Hedges
Barack Obama has squandered his presidency. He had a fleeting moment to challenge the casino capitalism and financial recklessness of our economic and political elite. He could have orchestrated a state socialism that would have provided a safety net for tens of millions of Americans faced with dislocation and misery. Continue
World Bank, IMF: Crisis Becoming 'Human Calamity'
By Veronica Smith Veronica Smith
At the end of spring meetings in Washington, the two Bretton Woods institutions on Sunday told their 185 member countries that the worst global slump in generations had already driven more than 50 million people into extreme poverty. Continue
U.S. toxic-asset plan stirs fears: The government will take on a mountain of risk while trying to create an artificial market for the loans and debt securities. Critics worry about possible fraud and further banking system damage.