Economic crisis news update


This video from Sky News in Britain says about itself:

Investors in Britain are being hit by the fallout from a massive financial scandal in the United States. Bernard Madoff, a former chairman of the Nasdaq stockmarket, admitted a fraud which could cost investors on both sides of the Atlantic up to 50 billion dollars.

By Barry Grey in the USA:

The Madoff scandal

December 16, 2008

The removal of any regulatory restraint on the operations of the banks and finance houses over the past three decades is itself an expression of the crisis and decay of American capitalism.

US government bailouts: poverty wages for auto workers, trillions for bankers: here.

Major US publisher not buying new books: here.

Pakistan: Conditions attached to IMF “bailout” will exacerbate slump and poverty: here.

New Zealand: Job cuts mount as recession deepens: here.

Britain: Million poor pupils denied free meals: here.

3 thoughts on “Economic crisis news update

  1. Americans’ Food Stamp Use Nears All-Time High
    “[W]e’re likely to see the most hunger that we’ve seen since the 1981 recession and maybe since the 1960s, when these programs were established.”
    http://www.washingtonpost.com/wp-dyn/content/article/2008/11/25/AR2008112502553.html

    Remembering Ron Carey.1
    Ron Carey’s contributions to the Teamsters and the US labor movement tower over those of his contemporaries.
    http://counterpunch.org/paff12152008.html

    Remembering Ron Carey.2
    [D]espite the efforts of the Teamster old guard and the government to destroy Ron Carey, the UPS strike remains a touchstone for every union member and labor supporter who wants to build a movement that can resist the employers’ offensive.
    http://socialistworker.org/2008/12/16/remembering-ron-carey

    Like

  2. Pingback: Worst Americans of 2008 | Dear Kitty. Some blog

  3. Pingback: FBI arrests US billionaire Stanford for fraud | Dear Kitty. Some blog

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