One is Mexican, described by the Financial Times for his “Wall Street-sized reputation for financial wizardry”; the other is Indian hailed by India’s Economic Times as “the Poster Boy of Banking” whose “chiselled features are as sharp as his brain.” Meet Agustin Carstens and Raghuram Rajan.
As part of their efforts to be more nationalist than capitalist Indian capitalists who are the undivided financiers of the BJP need to introspect. They should give up insisting on turning human and ecological material into capital. The Sangh Parivar and the BJP are in league with the capitalists in pursuit of the glory of Hindu Rashtra. The alliance[Read More...]
While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US. Poverty also kills. At the end of November, an Italian pensioner […]
On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses.
