Lehman’s Demise Triggered Cash Crunch Around Globe – WSJ.com A step-by-step account of how the decision to let Lehman fall lead to the Global panic in the financial markets. Paul Krugman summarizes: "Lehman’s fall led…
Monthly Archives For September 2008
Class and Ireland: Part 3 – Records of a Floating Life
Night is gone, a dawn comes up in birds and sounds of the city. There will be light to live by, things to see: my eyes will lift to where the sun in vermilion sits,…
Trouble in Banktopia: The financial system is blowing up
Trouble in Banktopia: The financial system is blowing up Mike Whitney on the Bailout: "How did Treasury Secretary Paulson figure out that recapitalizing the banking system would cost $700 billion? Or did he just estimate…
The Big Picture | Tally of Federal Rescues
The Big Picture | Tally of Federal Rescues "In the Sunday NYT print edition, there is an excellent visual depiction of costs all the Federal bailouts relative to ordinary fiscal expenditures (Iraq & Afghanistan Wars,…
September 28th Lunchtime: The Recession Diaries
I was pulling my hair out when a friend rang me pulling her hair out. A lot of hair being grabbed. Let’s start with my hair. Noel Whelan has given us the benefit of his deep and comprehensive research…
Once in a Century Rip-Off
Once in a Century Rip-Off Dr. Michael Hudson talking to Real News says that the bail out shouldn't happen, and likened the attempt to bring the bail out package through, using emergency powers, to the…
The Perilous Price of Oil – The New York Review of Books
The Perilous Price of Oil – The New York Review of Books George Soros on the speculation that lead to an 'oil bubble' the overinflated price of oil on the stock market: "According to my…
From Marx to the Market: On the Road in Cambodia and Thailand
The view from the world’s second-tallest building, the Petronas Towers in Kuala Lumpur, is a bit of an anti-climax – once you get near the top there’s not much to see that can compare with…
A sneaking suspicion – Paul Krugman – Op-Ed Columnist – New York Times Blog
A sneaking suspicion – Paul Krugman – Op-Ed Columnist – New York Times Blog Krugman has found that the term 'price discovery', which was used by Paulson yesterday to explain to the Senate committee why…
How Sweden Solved Its Bank Crisis – NYTimes.com
How Sweden Solved Its Bank Crisis – NYTimes.com The Swedish government, during their credit crisis squeezed the shareholders of the banks and demanded losses were written down before supporting them. "Standing shoulder-to-shoulder with the opposition…
Imitation of Life
I’ve always found dubious the notion that certain times in the past were ‘a more innocent age’; it is bandied about a lot when referring to the more demure sexual mores of times gone, the…
The Appalling State of Irish Maternity Services
The state of the Ireland’s maternity services is deeply unsatisfactory. In August of last year, in considerable frustration and anger at the lack of any cohesive action to make improvements, I wrote to the Irish…
Work in Progress
Work in Progress Catalan director José Luis Guerín's illuminating essay on his wonderful 2001 film 'Work in Progress' (original title 'En Construcción'). The film charts, in semi-documentary fashion, the demolition of a century-old building in…
September 23rd Morning: The Recession Diaries
Ah, the low-paid – if words were money they’d be living on easy street. Everybody wants to help the low-paid. Certainly, Fianna Fail was determined to. Shortly before becoming Taoiseach, Brian Cowen had this to…


