Tag: 2009
How the Financial Crisis Happened
by Mr. Wiseman on Feb.22, 2010, under Opinions
The U.S. financial meltdown has created a worldwide crisis. Ironically, worldwide scared money is still flowing into U.S. Treasury obligations as a safe haven. This permits more U.S. borrowing, but by drying up credit overseas creates financial crises in other countries.
I’ve been posting for several years on pieces of the origins of this financial crisis. Now Robert Weissman and others have attempted to put together an overall picture of what happened in Sold Out: How Wall Street and Washington Betrayed America, produced by Essential Information and the Consumer Education Foundation. (continue reading…)
Is Brazil a Bystander of The Global Crisis?
by Mr. Wiseman on Feb.21, 2010, under Opinions
After the G20 finance ministers and the World Bank/IMF annual meetings in Washington last weekend, most Latin American ministers of finance returned to their countries with a somber outlook. As the global financial crisis continues to unfold, it was clear that developing countries may have to replace some market financing with lending from the multilaterals, and prepare for the recession in the U.S., which will inevitably occur as a result of the credit squeeze of the past months, and its impact on global markets. (continue reading…)
