Rumor has it that Timothy Geithner is on his way out as Treasury Secretary, due to his involvement in the AIG scandal that is now unraveling in hearings before the House Oversight and Reform Committee. But unlike the perpetrators of the Watergate scandal, who wound up looking at jail time, Geithner evidently has a golden parachute waiting at Goldman Sachs, not coincidentally the largest recipient of the AIG bailout

05.02.2010
The meeting of G7 finance ministers and central banks chiefs opened the Canadian Arctic town of Iqaluit on February 5. Russia was not invited for the meeting. Therefore, the meeting will be held in the format of the 1990s, i.e. the Group of Seven. Official spokespeople for Russia’s Foreign Ministry said that such a decision was erroneous

01.02.2010
The late Libertarian economist Murray Rothbard wrote that U.S. politics since 1900, when William Jennings Bryan narrowly lost the presidency, has been a struggle between two competing banking giants, the Morgans and the Rockefellers. The parties would sometimes change hands, but the puppeteers pulling the strings were always one of these two big-money players

28.01.2010
Let us spell a message to the Davos World Economic Forum before it gathers next week: Jobs are families. As unemployment rates reach record levels there can be no doubt that the current monetarist-market-oriented economic model contains vectors which create endemic instability, engender extreme instability in the labour market and send families lurching from one crisis to the next in a boom-and-bust climate. Perhaps the economists at Davos can do what they are paid for: produce an alternative that works.