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Posts Tagged ‘financial crash’

Worst of slump yet to come, says economist

Posted by smeddum on September 1, 2009

Worst of slump yet to come, says economist

The Times

September 1, 2009

Ann Pettifor predicted a painful end to the good times. Now she says that only radical action can prevent further gloom

Phil Thornton

Ann Pettifor is a member of a select club — the seers who saw it all coming. Now the economist, who predicted the credit crunch as far back as 2003, believes that the worst is yet to come unless there is radical reform of the financial system. Read the rest of this entry »

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Posted in Financial crisis, Uncategorized | Tagged: | Leave a Comment »

Democrats signal support for Wall Street bailout at Senate hearing

Posted by seumasach on September 24, 2008

 

By Barry Grey

WSWS
24 September 2008

At a hearing Tuesday, Democratic members of the Senate Banking Committee assured Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke that they would move quickly to pass legislation authorizing the Bush administration to launch a trillion-dollar-plus bailout of Wall Street.

While a number of senators from both parties sought political cover in the face of growing popular opposition to the taxpayer-funded bailout by making populist-sounding declarations, the basic tone was set by Charles Schumer, the Democratic senator from New York who heads the Joint Economic Committee of Congress.

Read the rest of this entry »

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