The shadow banking system has collapsed, not because the market is "frozen" or because investors are in a state of panic after Lehman, but because derivatives and securitization have been exposed as a fraud propped up on insufficient capital. It's snake oil sold by charlatans.
President Obama is nearing the most important decision a President has made in modern times regarding the American economy. On or about June 1, he will push General Motors (GM), the nation's largest industrial company, into bankruptcy. The key trigger may be on May 26, when GM's offer to bondhold
Our government is rightly going through every line in its budget at the moment to save money. That's why I think our government should look very seriously at dropping its addiction to Microsoft and moving its IT systems and platforms to open source software such as Ubuntu and Open Office.
The result is that the supply of money -- and the corresponding volume of debt -- has for several decades outstripped the production of goods and services that it promises. The continuation of capitalism as we know it depends on an infinite supply of these new industries, which essentially must co
PocketSmith, a Dunedin based startup, recently secured a partnership with US-based Workplace Options, the world's largest provider of work-life employee benefits, delivering support to over 18.5 million employees in more than 10,000 organizations.
Thereâ€™s no way IBMâ€™s spin doctors can make this look good. And yet the genderless â€˜spokespersonâ€™ contacted for IBM hits staff for coffee and tea by Australian ITâ€™s Mitchell Bingemann and Andrew Colley still gave it a shot.
Remember the "ownership society"? Just an election cycle ago, conservatives were urging Americans to give up their antiquated social-insurance programs--Social Security, Medicare, unemployment insurance--in favor of tax-subsidized individual accounts that would vest responsibility for dealing wit