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The Progressive Review

GREAT RECESSION NEWS

TOPICS

FORECLOSURE SCANDAL

JUST THE FACTS

WALL STREET & BANKS

WORDS

ESSAYS

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BAD ADVICE AND THE FINANCIAL CRASH

FILMS

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Inside Job: Dissecting the 2008 fiscal disaster

A video that every boss should be required to watch

JUST THE FACTS

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MISERY INDEX BY PRESIDENT

HOW THE FISCAL CRISIS CAME ABOUT

A look at what's happening to American jobs . . . trade by trade

BOOKS

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Aftershock: The Next Economy and America's Future. Robert Reich explains what's really happened to the American economy

Plunder: The Crime of Our Times - Investigative film by Danny Schechter explores how the financial crisis was built on a foundation of criminal activity. Schechter speaks with bankers involved in these activities, respected economists, insider experts, top journalists including Paul Krugman, and onvicted white-collar criminal, Sam Antar, who blows the whistle on intentionally dishonest practices.

WORDS

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Paul Krugman - It’s time to start calling the current situation what it is: a depression. True, it’s not a full replay of the Great Depression, but that’s cold comfort. Unemployment in both America and Europe remains disastrously high. Leaders and institutions are increasingly discredited. And democratic values are under siege. . .High unemployment isn’t O.K. just because it hasn’t hit 1933 levels; ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight

Films: Heist
From Worldwide Work Heist - Perhaps the best film yet about the roots of today's economic conditions in the U.S., domination of public policy by corporate interests, and grassroots resistance that has emerged in the past few years. Other filmmakers should follow the example of the producers of this..

Most unequal wealth and income distribution since the 1920s

The Justice Department had more people investigating Roger Clemens lying to Congress than investigating the financial system

Nation's kids big victims of austerity politics

How to set up your own offshore account

People losing homes for back taxes not fully paid

Canada shows cutting taxes for corporations doesn't help economy

Most new jobs are low paying ones

Federal work program is actually a form of unconstitutional indentured servitude. . .and neither Republicans or Democrats care

A bipartisan solution to the fiscal crisis won't work because that's what caused it

Senior hunger growing

US trade policy has sent 2.7 million jobs to China

Middle class shrinking, getting poorer

What gay marriage can teach us about economic recovery

California budget deficit soars 74%

The results are in: austerity is a flop

The Greek deal: nothing to cheer about

How Obama blew the recovery

Six good movies about the financial crisis

The remarkable public service depression

How not to get the economy moving

Beyond capitalism: what's possible

11 telling economic charts from 2011

Six good movies about the financial crisis

Why conservative economics kills the economy

Some facts about food stamps the Republicans won't tell you

Child homelessness up 33% in three years

The party's over

Working families heading for the soup kitchens

73% of boomers planning to work past retirement age

Word: From the conservative Economist

A report from the overseer of the Troubled Asset Relief Program, which bailed out banks in 2008, says the banks sped up their repayment schedules, and the U.S. Treasury Department let them, because both sides just wanted to be done with the whole thing already -- with at least Bank of America admitting because they wanted to pay executives more.

The men behind America's economic meltdown

A third of American middle class has fallen out of it

POVERTY STATE BY STATE

How income inquality slows economic recovery

How the war on terror did us in (with lots of help from Republicans)

Reality check

BUSINESS INSIDER

Why you may not want to listen too hard to S&P

Government responsible for almost of a third of this year's job cuts

How bad our economy really is

Not taxing the rich doesn't help the economy

A look at what's happening to American jobs . . . trade by trade

Percent of young people with jobs at historic low

Now you really can call it the Second Great Depression

The real story of the American economy

Who's the "we" in "we're broke?"

The budget solution they don’t want to talk about

US taxes at lowest level since 1958

No reason for Obama to cede on debt ceiling

Are we in a depression?

Britain shows that budget slashers are wrong

Inflation Actually Near 10% Using Older Measure

What Bernanke didn't want you to know: how much the Fed loaned abroad

How Wall Streeters could – but won’t – be sent to prison

What legalized marijuana could mean for your state's budget

The real cause of our financial problems

Financial Crisis Commission hiding interviews with Bernanke

Fiscal commission finds serious fault with both Bush and Clinton administrations

Some are still staying afloat in hard times

JPMorgan Chase is admitting it overcharged more than 4,000 active-duty military personnel on their home loans and foreclosed in error on 14 of them.

Here's proof that Washington totally caved to Wall Street when it mattered most, from Bloomberg: Lawmakers spurned changes that would wall off deposit-taking banks from riskier trading. They declined to limit the size of lenders or ban any form of derivatives. The last two years have been the best ever for combined investment-banking and trading revenue at Bank of America Corp., JPMorgan Chase & Co., Citigroup, Goldman Sachs Group Inc. and Morgan Stanley, according to data compiled by Bloomberg. - Business insider

UBS whistleblower goes to jail while UBS president plays golf with Obama after bank pays $780 million fine to U.S.

Here’s the difference between Iceland and Ireland: Iceland chose to let private investors, the bondholders, take a hit when its banks tumbled, while Ireland has gone the route of an E85-billion bailout to prop them up. Now, according to Bloomberg News, Iceland expects a deficit equal to 6.3 per cent of GDP this year, well short of Ireland’s 32-per-cent deficit. The decision to force bondholders to take the hit may help Iceland recover at a faster pace, Bloomberg said. “The difference is that in Iceland we allowed the banks to fail,” the country’s president, Olafur Grimsson, told Bloomberg Television. “These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks.” - Globe & Mail

2010

GOLDMAN SACHS SENT $4 BILLION IN BAILOUT FUNDS OVERSEAS

US SENATE GIVES BIG BANKS A PASS; WALL STREET CELEBRATES & MEDIA MISLEADS

FORMER CEO OF BEAR STEARNS CALLS FOR REGULATION OF DERIVATIVES

SOLUTIONS: THE STATE OWNED BANK WE BROKE UP STANDARD OIL AND ATT. . . WE CAN BREAK UP THE BIG BANKS, TOO

SEC FINALLY WONDERS WHETHER LEHMAN BROTHERS WAS EXCEPTION OR RULE

THE MOST VITAL INGREDIENT IN WALL STREET REFORM GOES MISSING

GROWING MOVEMENT FOR PUBLICLY OWNED BANKS

ANTI-USURY CAMPAIGN TAKES OFF

WHAT GERMANY KNOW ABOUT ECONOMICS THAT AMERICA DOESN'T

SUMMER JOBS PLUMMETED OVER PAST DECADE

BALTIMORE TO GET ITS OWN CURRENCY