Why Private Banks Tend to Become Parasites on Society
Michael Hudson explains how public banks may serve the goals of capitalism, while private banks — under our current system — tend to become parasites.
Michael Hudson explains how public banks may serve the goals of capitalism, while private banks — under our current system — tend to become parasites.
Reprinted from Consortium News Exclusive: With solid Republican opposition and many Democrats scared of the gun lobby, Congress is turning its back on a renewed assault weapons ban, a collapse made easier by the refusal of Newtown officials to release crime-scene photos of the bullet-riddled bodies of 20 first-graders, writes Robert Parry. By Robert Parry As a father and…
Reprinted from Web of Debt By Ellen Brown Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012,…
Reprinted from Alternet By Les Leopold North Dakota’s thriving state bank makes a mockery of Wall Street’s casino banking system — and that’s why financial elites want to crush it. North Dakota is the very definition of a red state. It voted 58 percent to 39 percent for Romney over Obama, and its statehouse…
Journalism Professor Lee Banville asks whether Facebook has “jumped the shark?” He quotes Eric Schmidt: “Every two days, we create as much information as we did from the dawn of civilization up until 2003.” Here are a couple of other factoids Banville mentions to give an idea of the explosive growth of information on…