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Economy

Investigative Report Finds World Bank Displaced 3.4 Million People (1/2)
Alnoor Ladha, executive director of The Rules, says it is time to examine the stated mandate of the World Bank, its true intent and the history of one oppression after another it has caused through structural adjustment policies

  April 23, 2015

The Rich Get Richer If House Republicans Repeal the Estate Tax
Bill Black, a former bank regulator, discusses the history of why the federal estate tax exists and why the Republicans want it repealed

  April 16, 2015

Whistleblowers: Citigroup Falsely Represented Up to 80% of Mortgages Sold to Fannie and Freddie in 2007
Richard Bowen and Sherry Hunt were reporting on the toxic scam and still there was no action from the DOJ, but now there is a small victory, says Bill Black, former financial regulator

  April 6, 2015

Bankers Avoid Jail Time in Tax-Evasion Case
Bill Black says two Credit Suisse bankers who made a deal to avoid jail time are minor players compared to executives who faced no punishment at all

  March 28, 2015

The Fed Sits on Interest Rates Waiting Greater Recovery
Professor Robin Hahnel of E3 Network says Yellen is acting in the public interest and does not want to derail slow and tepid recovery

  March 20, 2015

Chile's Growing Corruption Scandal Underscores Need for Whistleblower Protections
Former financial regulator Bill Black reports on a corruption scandal embroiling Chile's conservative party and business executives

  March 16, 2015

The Juncker Plan for Economic Recovery in Europe
Bill Black says once again the EU decides not to target investments to help nations It forced into great depressions

  March 15, 2015

U.S. Workers Returning to Labor Force with Part-time Jobs and Stagnant Wages
Economist Richard Wolff discusses the latest unemployment figures and says the raising of interest rates by the Federal Reserve during a weak recovery would be disastrous for our heavily indebted society

  March 8, 2015

Will Quantitative Easing Solve the European Economic Crisis?
Gerald Epstein, Co-Director of the Political Economy Research Institute, raises questions regarding the effectiveness of quantitative easing by the European Central Bank

  February 23, 2015

Iceland's Supreme Court Upholds Jail Sentences of Four Banking Executives
Former financial regulator Bill Black explains how Iceland took down the banking executives responsible for wrecking the country's economy

  February 23, 2015

The Rich Hide an Estimated 21 Trillion in Offshore Accounts
James Henry, author of "Pirate Bankers," says Swiss Banks like HSBC, Credit Suisse, and UBS facilitate offshore accounts and buy millions of dollars worth of influence in Washington

  February 22, 2015

An Irish-Style Banking Inquiry into the 2008 Financial Crisis
Former financial regulator Bill Black discusses his recent testimony in Ireland and the challenges the country faces in acknowledging its financial crisis

  February 27, 2015

HSBC Offshore Tax-Evading Scandal Widening
Former financial regulator Bill Black details emerging revelations about HSBC bank's tax-evading practices and lack of accountability from European governments who were aware of the practice

  March 1, 2015

Top Three Things to Know About Obama's Proposed Corporate Off-Shore Profits Tax
Economist James Henry says Obama's proposed 14 percent mandatory tax fails to shutdown tax dodging schemes and creates incentives for more tax dodging

  February 3, 2015

President Obama in Saudi Arabia to Pay Respects to Former Friend and Ally King Abdullah
Toby Jones says King Abdullah of Saudi Arabia built an oppressive regime that violated human rights and cozied up to terrorism

  January 27, 2015

Removing the Social Security Tax Cap Would Benefit Most Workers
CEPR's Nicole Woo says a phase-out of the tax cap could eliminate up to 80% of the projected shortfall in social security funding

  January 20, 2015

House Passes Bill Further Weakening Financial Regulation
TRNN's Jessica Desvarieux looks at the key bill provisions benefiting Wall Street, and also examines the so-called opposition of Democratic lawmakers

  January 15, 2015

What is Causing Market Volatility?
Professor Leo Panitch, author of The Making of Global Capitalism: The Political Economy of American Empire, says the Fed has a lot to do with it

  January 16, 2015

Pensions of Union Workers Cut in Federal Budget
UMKC economics professor Michael Hudson discusses how Wall Street will profit as workers' pensions get slashed

  January 5, 15

DOJ Misses Another Opportunity to Go After Banks
Bill Black: Obama administration quietly gave a $57 million award to a whistleblower regarding the Countrywide and Bank of America mortgage scandal

  December 21, 2014

42 Billion in Tax Breaks Favoring Corporations Extended
This is a Christmas present for the tax lobby and Washington insiders, hardly a way to encourage investments with tax incentives, says James Henry, Senior Economist for the Tax Justice Network

  December 21, 2014

Will South America Bring Life to the Bank of the South?
The countries of South America need their alternative to the World Bank to step forward; if not, they will be back in crisis, explains historian and sovereign debt expert Eric Toussaint

  December 19, 14

The State of Workers' Wages around the World
Economist Richard Wolff compares the stagnation of wages in the U.S. for the past 30 years to the increase in wages in emerging markets and explains why capital left America

  December 8, 14

What is Fueling the Price of Oil? (2/2)
The sliding oil and gas prices, combined with the sanctions, causes Russia to pivot to Asia for a long-term economic strategy, says Dr. Thomas O'Donnell of The Free University of Berlin

  December 9, 14

New Employment Figures in the Shadow of a Fragile Economy
Economist Richard Wolff says workers are returning to jobs with lower wages, fewer benefits, and less job security than they had before the financial crisis hit

  December 7, 14

Who Is in Charge of Development: The Elite or the Majorities? (2/2)
The conclusion of a conversation with UN economist Richard Kozul-Wright on the far-reaching impact of a lecture given by Ecuadorian President Rafael Correa on the politics of development

  December 9, 14

Who Is In Charge of Development: The Elite or the Majorities? (1/2)
Part 1 of a conversation with UN economist Richard Kozul-Wright on the far-reaching impact of a lecture on the politics of development given by Ecuadorian President Rafael Correa

  November 24, 14

G-20 Recommits to Lifting Private Sector Activity
They have managed to contain a massive capitalist crisis and they may actually be realizing that massive government sector spending is required to save capitalism, says Prof. Leo Panitch the author of The Making of Global Capitalism.

  November 21, 14

The Power to Create Money in the Hands of the Banks
The same financial institutions that created the financial crisis are now entrusted with one of the most power tools to shape the economy - and many elected officials have no idea, says Ben Dyson of Positive Money

  November 20, 14

$4.3 Billion Fine for Fraud in Exchange Market Manipulations is Pittance for Major Banks
This collective fine for big banks involved in exchange fraud represent less than 1/1000 of the daily transactions in the market says Bill Black, former financial regulator

  November 16, 14

Final Rule of Dodd-Frank Won't Address Incentives, Lax Regulation, or Size of Banks
Despite being a requirement of the 2010 Dodd-Frank Wall Street Reform law, the final rule designed to prevent large financial firms from becoming too big won't precent another crisis, says Gerald Epstein, professor of economics and a founding Co-Director of the Political Economy Research Institute

  November 10, 14

Wealth of Households and Poverty of its People
Household wealth has considerably fallen to 1998 levels for a majority of households says the Center for Economic and Policy Research Economist David Rosnick

  November 13, 14

The Financialization of Life (6/6)
Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy

  October 31, 14

The Financialization of Life (5/6)
Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy

  October 28, 14

The Financialization of Life (4/6)
Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy

  October 27, 14

The Financialization of Life (3/6)
Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy

  October 27, 14

Is Financial Fraud Too Complex to Prosecute?
The Department of Justice is using an illegitimate excuse to explain why it has not prosecuted any senior bankers, says Bill Black, former bank regulator and current Associate Professor of Economics and Law at the University of Missouri-Kansas City

  October 27, 14

The Financialization of Life (1/6)
Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy

  October 27, 14

The Financialization of Life (2/6)
Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy

  October 30, 14

Why Are Stock Markets So Volatile?
A serious depression is pending as a result of austerity, says Professor Michael Hudson, author of The Bubble and Beyond, and Finance Capitalism and Its Discontents

  October 17, 14

Top 400 US Billionaires' Wealth Equals Brazil's GDP
Rob Johnson comments on the Forbes report that the top 400 billionaires own $2.29 trillion of wealth, up $270 billion over last year

  October 8, 14

The Lower Unemployment Rate is a Recovery - for the Top 10%
Economist Pavlina Tcherneva of Bard College explains why monetary policy that is directed at finance and not job creation has this effect

  October 5, 14

After Eric Holder Resigns, A Look at His Record on Bank Prosecutions
Former financial regulator Bill Black says Holder's legacy on "too big to fail" is "too big to jail"

  October 3, 14

The Federal Reserve Makes "Effort" to Rein in Big Banks
Prof. Gerald Epstein is skeptical about new Fed rules and the appointment of Federal Reserve vice chairman Stanley Fischer to head the Financial Stability Committee

  October 3, 14

FBI Targets Minority Communities in Mortgage Fraud Investigations
Former bank regulator Bill Black says Attorney General Eric Holder must stop targeting minorities and instead focus on the mortgage fraud of banksters

  October 3, 14

Ecuador to Adopt Digital Currency
Economist Bill Black says Ecuador's plan is supposed to provide bank services to rural communities through mobile phones

  October 3, 14

NY Bank's Alleged Redlining Has Roots in Government Practice
Former financial regulator Bill Black discusses the significance of a new lawsuit against Evans Bancorp that alleges the bank would not give loans to black neighborhoods

  October 3, 14

Sacramento Residents Found Not Guilty of Mortgage Fraud
TRNN regular contributor Bill Black discusses his role in a major legal victory in which lenders were found to have ignored gaping holes and blatant lies in loan applications

  October 3, 14

Fed Chair Signals Possible Policy Shift on Unemployment
PERI Co-Director Gerald Epstein discusses how Fed chair Janet Yellen's recent comments on bringing unemployment down could be positive but Fed policy still remains toothless in helping out working Americans

  October 3, 14

Deconstructing Fed Vice Chair's Grim Economic Forecast
PERI co-director Gerald Epstein discusses how Fed vice chair Stanley Fischer has ignored real solutions to improve the economy, like increasing wages

  October 3, 14

Capitalism Will Hit the Wall Again, Hard - Heiner Flassbeck on RAI (5/5)
Mr. Flassbeck says people must get politically engaged and find an alternative or we will face dictatorship because today's capitalism is out of answers

  August 3, 2014

Racing to a Dead End - Heiner Flassbeck on Reality Asserts Itself (2/5)
Mr. Flassbeck, former head of UNCTAD, says current economic policy is heading back to the 1930s, a race to the bottom, they have no solution at all, we will end up again in trade wars or other wars

  July 29, 2014

IRS Failing to Regulate Dark-Money Political Spending
Prof. Tom Ferguson discusses why IRS fails to investigate political spending by groups such as Karl Rove's Crossroads GPS

  October 3, 14

Reaganism and Thatcherism were Intellectually Dishonest - Heiner Flassbeck on Reality Asserts Itself (1/5)
Mr. Flassbeck, former director of UNCTAD, discusses growing up in a US dominated Germany and his opposition to the birth of neoliberal economics

  July 25, 2014

Developing Countries' Commitment to Multilateralism in WTO a Stumbling Block for Lead Firms? - Faizel Ismail (3/3)
An eminent trade negotiator says developed and developing countries need to move away from the global value chains approach to trade to a more sustainable, very different view of production and job creation

  October 3, 14

The Politics of Going Green
PERI Co-Director Robert Pollin and Prof. Chris Williams discuss the feasibility of shifting to a green economy

  October 3, 14

Obamacare Subsides on the Line
CEPR's Dean Baker and Media Matters' Jeremy Holden discuss two federal courts decisions which could disqualify lower and middle income earners for subsidies and the forces working to dismantle Obamacare

  July 25, 2014

What Is Shaping Global Production and US & EU Trade Policy? - Faizel Ismail (2/3)
An eminent trade negotiator explains the raison d'etre of the global value chain approach to trade and its rise to prominence in the WTO

  October 3, 14

What is the Doha Round and How Many Livelihoods Hang in the Balance? - Faizel Ismail (1/3)
An eminent trade negotiator explains the global value chain approach to trade and gives a first hand account of negotiating the WTO Doha Development Agenda

  October 3, 14

Dodd-Frank Still Not Fully Implemented Four Years Later
Gerald Epstein says that a fully-implemented Dodd-Frank Act does not require a breaking up of the big banks, which is needed to prevent another financial crisis

  October 3, 14

BRICS: Progressive Rhetoric, Neoliberal Practice
Patrick Bond: All the governments behind the New Development Bank practice intense neoliberalism

  October 3, 14

Uber: Cheap Ride Alternative or Death Knell for Cabbies?
Longtime taxi driver advocate Nathan Price argues that because Uber is not subject to the same regulations and taxes, its lower prices are destroying the livelihoods of taxi drivers

  July 29, 2014

Who Is the Unsung Hero of the $7 Billion Citigroup Settlement?
Bill Black says that a just settlement would include criminal prosecution of senior Citigroup officials who led the fraud and covered it up

  July 15, 2014

Imagining Economic Policy Focused on Women
Robert Johnson says that policy focused on addressing inequality and the well-being of women would provide direct benefits to the economy

  October 3, 14

BNP Paribas Fine Shows Financial Crime Still Pays Big-Time
Bill Black: Federal regulators remain the leading opponents of vigorous prosecutions

  October 3, 14

Why Did Economy Shrink So Dramatically During the First Quarter of 2014?
Robert Pollin: Five years after the Great Recession, austerity as the dominant policy agenda is keeping the recovery weak

  October 3, 14

Ugly Money Politics - Robert Johnson on Reality Asserts Itself (8/8)
Mr. Johnson says politicians dependent on campaign contributions from the wealthy are allowing finance to bankrupt Detroit and cities across the country

  October 3, 14

U.S. Supreme Court Preserves Power of Finance Over Argentina
Bill Black reports on the significance of the refusal of the U.S. Supreme Court to hear cases involving Argentinian debt obligations to international creditors

  October 3, 14

Has Capitalism Lost the Ability to Reform Itself? - Robert Johnson on Reality Asserts Itself (7/8)
Capitalism is not rebalancing; the yearnings and desires of large portions of society are not being responded to

  October 3, 14

A Civilized Critic of Savage Behavior - Robert Johnson on Reality Asserts Itself (6/8)
Mr. Johnson says the compulsive pressure of money in politics has led to an abandonment of rules other than rules which transfer risk onto the back of the public

  October 3, 14

Why the Worst Get on Top in Economics
Bill Black: History has proved Nobel prize winning economist Friedrich von Hayek, the patron saint of plutocrats and libertarians, profoundly wrong

  October 3, 14

Heads, Finance Wins, Tails, Society Loses - Robert Johnson on Reality Asserts Itself (5/8)
Mr. Johnson says TARP was an abomination; finance controls government and uses it to cover its losses

  October 3, 14

How We Broke the Bank of England - Robert Johnson on Reality Asserts Itself (4/8)
Mr. Johnson says, "I used to tell my dad, if I'm fortunate enough to see St. Peter and get through the gate, I'm not going to get in because I helped knock off the British pound"

  October 3, 14

Finance Is Building the Architecture of Their Own Rules - Robert Johnson on Reality Asserts Itself (3/8)
On Reality Asserts Itself, Mr. Johnson says the scale of the political investment of finance - six, seven hundred million dollars - is overwhelming. With the political power of finance, do we still have a democracy?

  October 3, 14

Reaganomics Was Crazy - Robert Johnson on Reality Asserts Itself (2/8)
Mr. Johnson says the idea that you were going to cut taxes massively and this was going to lead to a growth in revenue and close the deficit was silly

  October 3, 14

D-Day Set the Stage for the Rebirth and Reorganization of Global Capitalism
Leo Panitch: Planning for the assimilation of postwar Europe into US-managed capitalism began in the late 1930s

  October 3, 14

Is the U.S. Headed toward Another Recession? - TRNN Webathon Panel
Economists Dean Baker from CEPR and Robert Pollin from PERI say that the U.S. economy remains weak 5 years after the recession despite recent job growth, due to low wages and weakened unions

  October 3, 14

Confronting Financialization on Steroids - Costas Lapavitsas on Reality Asserts Itself (8/8)
Mr. Lapavitsas says we must deeply reverse financialization and take on private ownership of banking and other critical sectors

  October 3, 14

40% of Profits Buys A Lot of Politicians - Costas Lapavitsas on Reality Asserts Itself (6/8)
Mr. Lapavitsas says that during the financial crisis the power of the state was mobilized to save finance

  October 3, 14

Is Financialization Necessary for a Modern Economy? - Costas Lapavitsas on Reality Asserts Itself (5/8)
On Reality Asserts Itself, Mr. Lapavitsas says modern capitalism requires financialization, but productive growth in the interests of the majority of people does not

  October 3, 14

The Financialization of Big Business - Costas Lapavitsas on Reality Asserts Itself (4/8)
Mr. Lapavitsas says that capitalists have learned how to make huge profits without producing anything useful

  May 25, 2014

Saving American Cities
Robert Pollin: If the Fed was serious about strengthening the basic economy, it would bail out American cities

  October 3, 14

Canadian Securities Regulators Moving Ahead with US-Style No-Contest Settlements
Dimitri Lascaris: Canadian regulators are planning to implement no-contest practices that US judges are criticizing

  October 3, 14

5 Things You Need to Know about Credit Suisse's Criminal Charge
Tax expert James Henry says the Credit Suisse settlement is not a real victory for citizens looking to hold bankers accountable

  October 3, 14

Fed Pulls Back Quantitative Easing
Michael Hudson: The Fed's practice of buying mortgage and government bonds has helped big banks profit while leaving homeowners holding more debt

  October 3, 14

Pfizer Offers To Buy Foreign Corporation In Order To Avoid Paying More Taxes
Steve Wamhoff of Citizens for Tax Justice discusses how Pfizer avoids paying taxes and what can be done to reform corporate tax laws

  October 3, 14

Piketty: The Market and Private Property Should Be The Slaves of Democracy
TRNN Producer Lynn Fries hosts an extended interview with Thomas Piketty about his widely acclaimed Capital in the 21st Century

  October 3, 14

Why Democrats Are Paying Attention to Piketty's Book on Inequality
Thomas Ferguson: The increasing popularity of French economist Thomas Piketty's book points to how Democrats hope to make inequality a political issue in November elections

  October 3, 14

Does a Higher Minimum Wage Cost Jobs?
Bob Pollin and Anthony Davies debate whether a higher minimum wage means less jobs for young people entering the employment market

  October 3, 14

No Evidence Justice Dept. Will Prosecute U.S. Banks Responsible for Financial Crisis
Bill Black: Although Attorney General Holder says no bank is too big to prosecute, the Justice Department will be going after foreign banks instead of making an example of the leadership behind the financial crash

  October 3, 14

Big Banks Caught Red Handed but Continue to Avoid Prosecution
Bill Black: Despite a government accountability office investigation uncovering new evidence of illegal robo-signing, authorities still striking deals instead of locking up wrongdoers

  October 3, 14

Is Thomas Piketty Right About the Causes of Inequality?
Economist Michael Hudson discusses the popularity of French economist Thomas Piketty's recent book and says his work fails to link the financialization of the economy to the ascent of the 1%

  October 3, 14

New Law Requires Swiss Banks to Report Customers Evading Tax
Bill Black: Swiss banks have notoriously kept customers' finances secret but European Union law will challenge that structure

  October 3, 14

CBO Report Confirms U.S. Deficit Back to Normal Level
Robert Pollin: Deficit hawks were wrong about America's normal level, Congress should pass a financial transaction tax and not more cuts to social spending

  October 3, 14

The Savings and Loan Crisis Demonstrates the Importance of Glass-Steagall
Bill Black: When remembering recently passed away Charles Keating,a key architect of the S&L Crisis, we are reminded of the importance of the Glass- Steagall Act of 1933

  October 3, 14

Raising Big Banks' Leverage Ratio Good, But Not Nearly Enough
Forcing big banks to increase capital on hand will make another taxpayer bailout less likely, but it's still business as usual for Wall Street

  October 3, 14

IMF Will Address Global Inequality, Says Managing Director Christine Lagarde
Deborah James: Inequality is unlikely to be addressed or achieved through existing IMF policies

  October 3, 14

Charles Keating, the Financier Behind the Savings and Loan Scandal, Dies at 90
Bill Black: While Wall Street executives responsible for the subprime mortgage crisis were never indicted, Charles Keating was criminally prosecuted for the 1980s Savings and Loan scandal

  October 3, 14

The European Central Bank's War on Wages is Pushing Europe's Economy to the Brink
Bill Black: The media has failed to report on the causes and possible solutions for Europe's deflating economy

  October 3, 14

Yellen Talks the Talk But Will She Walk the Walk?
Robert Pollin: Janet Yellen distinguished herself in her first speech but it remains to be seen if she will change the policies of the Federal Reserve

  October 3, 14



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