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Dennis Kucinich and Michael Hudson on the Anatomy of Bank Failures

https://scheerpost.com/2023/03/16/dennis-kucinich-and-michael-hudson-on-the-ana…
Created
Fri, 17/03/2023 - 14:31

This is a wide-ranging discussion about the anatomy of bank failures. Dave Kelley, the moderator, is a pension actuarial expert, headquartered in Ohio. Chairman of the Domestic Policy subcommittee of the Govt Oversight Committee, Kucinich, as a senior member of Congress, investigated the subprime meltdown (see you tube videos), grilling Wall Street titans. Michael Hudson […]

The post Dennis Kucinich and Michael Hudson on the Anatomy of Bank Failures appeared first on scheerpost.com.

Mary Lou McDonald: ‘We’re Building a New Ireland, a True Republic’

https://tribunemag.co.uk/2023/03/mary-lou-mcdonald-sinn-fein-republic-housing-u…
Created
Fri, 17/03/2023 - 12:00

As Europe was ravaged by austerity policies in the past decade, numerous left-wing insurgencies emerged to challenge for government: Syriza in Greece, Podemos in Spain, La France Insoumise and, from 2015 to 2019, the Labour Party under Jeremy Corbyn. Each came from outside the traditional centre-left and learned, to some degree, from the others. They […]

They cannot save themselves

https://digbysblog.net/2023/03/16/they-cannot-save-themselves/
Created
Fri, 17/03/2023 - 09:30
This piece by Zach Carter on the SVB crisis is the best I’ve seen. (Carter published the great biography of John Maynard Keynes last year. If you haven’t read it, it’s excellent.) The most important bank in Silicon Valley failed on Friday, prompting a Sunday night bailout for some of the wealthiest people in the world as the Federal Reserve opened a new emergency lending program hoping to prevent the crisis in California from triggering a nationwide banking collapse. As with any financial crash, it’s impossible to predict where exactly the money will flow next, but it’s clear that the tech sector that reshaped American business and culture in the 21st century is coming apart. The nexus of this breakdown is Silicon Valley Bank, a firm with $209 billion in assets as of December 31, 2022. SVB works hand-in-glove with venture capital firms, tech start-ups, and a lot of very rich people in California, claiming nearly half of all VC-backed tech companies and over 2,500 VCs as its clients.

Members to protest outside UCU HQ in anger at Grady ‘sell-out’ after wave of no-confidence votes

https://skwawkbox.org/2023/03/16/members-to-protest-outside-ucu-hq-in-anger-at-…
Created
Fri, 17/03/2023 - 08:41
Up to 10% of branches have passed votes of no confidence in general secretary in last few days as outrage builds over ‘undemocratic’ ‘informal ballot’ Members of the University and College Union (UCU) will mount a demonstration outside the London headquarters of their own union tomorrow, in anger at what they term the ‘sell-out’ of […]

Bond Market Play Reveals Systemic Crisis

https://michael-hudson.com/2023/03/bond-market-play-reveals-systemic-crisis/
Created
Fri, 17/03/2023 - 08:13

Economist Michael Hudson analyzes the collapse of Silicon Valley Bank, Silvergate, and Signature Bank, explaining the similarities to the 2008 financial crash. In this discussion with Geopolitical Economy Report editor Ben Norton, Hudson also addresses the US government bailout (which it isn’t calling a bailout), the role of the Federal Reserve and Treasury, the factor Continue Reading

The post Bond Market Play Reveals Systemic Crisis first appeared on Michael Hudson.

He eats pudding with his fingers?

https://digbysblog.net/2023/03/16/he-eats-pudding-with-his-fingers/
Created
Fri, 17/03/2023 - 08:00
The knives are out and it’s getting ugly. And it’s not just coming from Trump: At any given fundraiser or VIP room where he’s present, Ron DeSantis is usually easy to find—in the corner, keeping to himself. Despite having a job that entails exchanging small talk and pleasantries on a daily basis, the Florida governor tends to brush off those obligations and struggles with basic social skills, according to a source close to DeSantis, several of his former staffers, and other GOP operatives who have worked with him and his team. As DeSantis gears up for a potential White House run in 2024, his aloof public persona is being thought of by his rivals—namely, former President Donald Trump—as his Achilles heel in the retail politics-heavy early primary states. And even though he hasn’t announced a bid yet, DeSantis’ apparent desire to test the waters of a presidential campaign—while barely dipping a toe into the aspects he recoils from—is already being put to the test.