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Tag Archives: Money

The Dark Heart of the Libor Scandal

Mark Vorpahl  | Though, for most, the London Inter-Bank Offer Rate (Libor) interest rate fixing scandal appears to be distant and far too complex to understand, its potential consequences may be as economically devastating as a world war. The Libor is used ...

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Organised crime fears cause ban on 500 euro note sales

By Dominic Casciani Exchange offices in the UK have stopped selling 500 euro banknotes because of their use by money launderers. The Serious Organised Crime Agency says 90% of the notes sold in the UK are in the hands of ...

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The American Empire Is Bankrupt

This week marks the end of the dollar’s reign as the world’s reserve currency. It marks the start of a terrible period of economic and political decline in the United States. And it signals the last gasp of the American ...

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The Federal Reserve Would Be Shut Down If It Was Audited

The Federal Reserve’s balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant’s Interest Rate Observer, told CNBC. With $45 billion in capital and ...

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Top Secret Credit Crisis Bailouts

Interesting stories are stacking up again so it’s time for some economic potpourri starting with secret dealings by the Fed. Fed Refuses to Release Bank Lending Data, Insists on Secrecy The Fed refused yesterday to disclose the names of the ...

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The Two Documents Everyone Should Read to Better Understand the Crisis

By William K. Black  As a white-collar criminologist and former financial regulator much of my research studies what causes financial markets to become profoundly dysfunctional. The FBI has been warning of an “epidemic” of mortgage fraud since September 2004. It ...

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20,000 banking staff to pay for bosses’ errors

By PAUL HASTE MILLIONAIRE Royal Bank of Scotland bosses put the jobs of thousands of low-paid finance workers on the line on Thursday in a last-ditch bid to avoid full-scale nationalisation. Admitting the largest-ever corporate loss in history, Royal Bank ...

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The Banality of Corporate Evil

By Phil Mattera Our culture worships spunky small businesses and entrepreneurship.  Stewart Parnell epitomized that ideal and was living the good life in Lynchburg, Virginia until last month, when his Peanut Corporation of America (PCA) was linked to one of ...

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A Short History of US Government Handouts

By Stephen Lendman Global economies are withering while Washington conceives “Financial Recovery Plan(s) from Hell,” according to economist Michael Hudson in his latest February 11 article. Bankers demand more trillions, “or (they’ll) plunge the economy into financial crisis.” What they ...

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‘Serial abuser’ in charge of bail-out cash

By PAUL HASTE TAX justice campaigners accused the Treasury on Sunday of handing a “dodgy” former trustee of the Liechtenstein royal family’s secretive bank control over taxpayers’ money. US citizen Glen Moreno, the chairman of the Pearson corporation, which owns ...

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