With the help of heavy hitters from Wall Street, Bill Morneau has been designing a radical new bank that will deliver some of Canada's infrastructure into the hands of private investors.
Wall Street bailout
As the capitalist class gathers this week for the World Economic Forum, the corridor talk is going to be about the collapsing price of share capital, as stock markets tumble around the world.
Wall Street is the perfect target for an occupation.
One politically disempowering aspect of neoliberal capitalism is the mantra that we cannot resist economic forces. Wrong -- collective decision making can trump market forces in a crisis.
Neoliberalism's genius is its ability to blame the victim. Ultimately, the world financial crisis is a political problem that will take political will to counter the hegemony of financial interests.
Michael Moore's new film, Capitalism: A Love Story, opens this weekend in Canada. He recently took his message to a labour rally at the New York Stock Exchange.
<span>Barney Frank has repeatedly promised to bring bank executives in to testify before Congress about what they are doing with taxpayer money from the TARP.</span>
Revelations of Wall Street hijinks have raised questions about the skewed nature of financial rewards.
For top executives to award themselves these kinds of compensation packages in the midst of this economic crisis isn’t just bad taste; it’s bad strategy.
Now that Barack Obama is in the White House, his single greatest challenge is to restart the U.S. economy, to turn it away from its descent into depression, toward sustainable recovery.