Archive for September, 2009

G20: USA restructures the management of Global Capitalism

Posted on September 29th, 2009 in World Crisis

The recent meeting of the G20 leaders in Pittsburgh has seen the USA radically restructure the management of global capitalism’s finance and economic systems. The G20 came in to existence in the late 1990’s as a response to the first globalised financial crisis – the Asian crisis. While the world economy has been globalised for [...]

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Why they want to make cuts

Posted on September 22nd, 2009 in Banking Crisis, UK Crisis

The government has spent about £150bn over the last year bailing out RBS, HBOS and Lloyds. This has taken the form of being sold shares in these companies and in return giving the banks cash to cover losses and bring their capital (cash) up to regulatory required levels. In addition the government through the Bank [...]

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  • @TheLeftBanker

    • RBS £2 billion loss not as BBC reports £776 million. Twice as big as forecast. 3 hours ago

    • @BharatKAzad I think so with Portugal 6 months behind and Spain another year 21 hours ago

    • Greece mark II: Portuguese opposition demands €30 billion more of a bailout to keep country afloat 21 hours ago

    • @aidanskinner hedge funds been putting this trade in droves spreading risk over several banks. They now hold about 30% of Greek debt 21 hours ago

    • Greek debt swap deal may fail as hedge funds & other investors would be better off with default and collecting insurance it would trigger 22 hours ago

    • Euro crisis goes global: Preliminary Chinese manufacturing figures for February shoes a contraction. 23 hours ago

    • Euro area manufacturing & services output drops in February. Recession on the way. 23 hours ago