Image by Cold Cream Coffee via Flickr
by Shepherd Bliss
Jan. 24, 2013
The Case of Sonoma State University
The new Center for Ethics, Law, and Society at Sonoma State University in Northern California has caused quite a stir among our academic community during the first week of classes, as well as from those outside SSU. Its funding and the further corporatization of public higher education have been questioned.
The notorious insurance monolith AIG provided two-thirds of the Ethics Center’s $16,000 first year budget. What might AIG’s intentions have been for funding the Center? Continue reading
by Michael Hudson
January 12, 2013
Image by codepinkhq via Flickr
When the financial bubble burst in September 2008, U.S. and European governments responded by shifting bank losses onto their own balance sheets. The pretense is that real growth cannot resume until the banks and speculators are “made whole.” To cover the cost of bailing out the banks, governments now are trying to run budget surpluses. This adds fiscal deflation to the debt deflation left in the bubble’s wake, shrinking the economy at large. Governments are to raise taxes (or simply print new debt to swap for the financial sector’s bad loans and gambles) to reimburse financial institutions whose lending and outright gambling (not to mention the excursion into financial fraud) caused the crisis.
by Dr. Ellen Brown
Feb. 6, 2010
Rumor has it that Timothy Geithner is on his way out as Treasury Secretary, due to his involvement in the AIG scandal that is now unraveling in hearings before the House Oversight and Reform Committee. Bob Chapman writes in The International Forecaster:
Each day brings more revelations of efforts of the NY Fed and Goldman Sachs to hide the details of the criminal conspiracy of the AIG bailout. … This is a real crisis on the scale of Watergate. Corruption at its finest.