Bailout

In short, the myth that they did not require a ‘bailout’ in response to the GFC was disproved. Walks explained it is because the Canadian state was successfully able to direct a crown corporation (the CMHC) to absorb securitized mortgage assets, which were issued under subprime lending standards. Although it was not as extensive as the bailouts and nationalizations employed in the United States or United Kingdom, the Canadian experience exposes…

Roderick T Long’s article entitled, “Corporations versus the Market; or, Whip Conflation Now” explores the link between the free market and the rise of big business and corporations. Specifically, Long questions the motives of libertarian free market advocates of simultaneously legitimizing plutocratic corporations. He begins by pointing out that a completely free market and big business are at odds, utilizing many examples of government intervention propping up corporations and their businesses…

provides that I have explained above. To respond to the point that the US cannot afford NASA, Neil deGrasse Tyson points out in an interview with Bill Maher that, all of NASA’s costs to this point are less than the bank bailout TARP (Nusca, 2011). TARP was an $850 billion bailout in 2008 signed by George Bush. Those funds used to bail out bankers, who made mistakes and purposely doomed people, has been greater than all the funds we have used for NASA. The issue with the argument that the US…

During the late 18th century the term “class” began to replace earlier classifications that was used to divide society economically. These divides, which are still in existence today, are based off the common three-stratum model that separates society into three general categories. The first being an “upper class”; this class is the class that has ownership and power over the means of production. The second would be a “middle class” that consists of professional workers, small business owners…

Euro is launched- In 1992, the European Economic Community was established with the ratification of the Maastricht Treaty. The euro was introduced and has been adopted by Eurozone countries in 1999. National currencies started to be substituted with the euro in 2002 and the euro became the official currency of the Eurozone. The Global Financial Crisis- Although the U.S. economy had formally dived into recession in 2007; the sudden collapse of the investment bank Lehman Brothers catapulted…

Stock Market From Inside Job, a documentary about the lead up to the stock market crash of 2008, Christine Lagarde said “The financial industry is a service industry. It should serve others before it serves itself.” The year 2008 was a huge scare for the common man in the United States. When the housing market crashed, everyone saw their lives change before their eyes and feared for their future. Stocks went down faster than the speed of light and with time of change heading towards the United…

The Dodd-Frank Act is to promote the financial stability of the United States by improving accountability and transparency in the financial system to end “too big to fail” to protect the American taxpayer by ending bailouts to protect consumers from abusive financial services practices, and for other purposes (CFTC.gov, ND). The current state of the executive order that President Trump has initiated assess the federal independent financial regulatory agencies that Dodd-Frank administer. In 2008…

Eurozone is comprised of 19 countries that all agreed on using the same currency, the euro. Greece is facing a debt that could completely bankrupt it, and if a deal is not made with the European Union (EU) and the International Money Fund (IMF) for a bailout the country could fall and people could really start being effected. Frist, the reasons why Greece is in crisis mode will be presented. Second, what is being done to fix Greece’s problems,…

slow recovery. And if it wasn’t for the Dodd Franks Act requiring accountability and transparency the consumer would never fully trust the banking industry. Given the fact we spent 9 trillion dollars on monetary and fiscal policy actions as well as bailouts to help the economy recovery it is, very slowly.[…

It points out how the government basically attempted to re-inflate the credit and housing markets, namely with the bailouts i.e. Bear Sterns and other measures. The government’s role in inflating the housing bubble in the first place was emphasized with its promotion of buying homes through low interest rates and adjustable mortgages. Schiff argues that the government…