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Herman Daly on the Financial Crisis
Herman Daly, The Oil Drum, 7th November, 2008.
Larry Elliot: Post Bubble Possibility, A Green New Deal.
Larry Elliot, The UK Guardian, 17th October, 2008.
Letter to the Guardian: Financial, environmental and social reasons to save post offices
Ann Pettifor, The UK Guardian, 6th October, 2008.Faith. Belief. Trust. This economic orthodoxy was built on superstition
Madeleine Bunting, The UK Guardian, Monday 6th October, 2008There is no alternative, went the mantra. Now this corrupt mythology lies in tatters, the crisis of conviction is profound…
Thomas Frank, The Wall Street Journal, 1st October, 2008.Capitalism sure is fragile if subprime borrowers can ruin it…
Economists View, 28th September, 2008.The financial bailout plan looks more likely now that there has been a “breakthrough.” Barry Eichengreen says even with a plan in place, the crisis won’t end quickly and double digit unemployment is “not out of the question”…
Big Payments are Expected in Credit Default Swaps
Reuters, The New York Times, Monday 8th September 2008.The government’s takeover of Fannie Mae and Freddie Mac may lead to one of the largest ever payments in the credit default swap market, analysts said on Monday…
Banks Reel as ECB redraws Funding Rules
Bank stocks in Europe and the UK fell sharply and the risk of owning their debt leapt on Thursday after the European Central Bank declared a crackdown on abuses of its bank liquidity operations…
This year it emerged Macquarie Bank had constructed a deal backed by Australian car loans that could be used at the ECB and Lehman Brothers had formed a huge collateralised loan obligation of risky buy-out debt to use at the central bank
The Fed and Authoritarian Capitalism
Robert Reich’s blog, Tuesday 12th August, 2008.Chinese authoritarian capitalism, on display this week in Beijing, has me thinking about America’s democratic capitalism and how we practice it.
This train crash’s final impact is still awaited
John Authers, The Financial Times, Saturday 16th August, 2008It was Jeremy Grantham, one of the most respected sages in the world of fund management, who first described the problems gripping the credit market as a “slow-motion train wreck”.
Since he said that more than a year ago, the metaphor has metastasized. It has become one of the most popular descriptions of the market’s upheaval last year.
There is good reason for this…
The End of Financial Triumphalism?
Kenneth Rogoff , Project Syndicate.
An article by the ex-chief economist at the IMF:
Will today’s ever widening global financial crisis mark the end of the era of financial triumphalism? Ask a lay person to list the ten great innovations that drive our world today and you probably won’t find too many who mention the Black-Scholes formula for pricing options. But for the financial community, pioneering formulas that paved the way for modern hedging strategies should get just as much credit for the passing period of rapid global growth as cell phones, computers, and the Internet.
Jonathan Franklin, The Guardian, 8th August, 2008
With the US housing market in freefall, Jonathan Franklin visits the former Florida boomtown where repossessions are at an all-time high, pawnshops are thriving and residents predict an economic meltdown to rival the great depression…
Barbara Ehrenreich, The Huffington Post, 28th July, 2008A few days before Congress passed its Housing Bill, Carlene Balderrama of Taunton MA found her own solution to the housing crisis. Just a little over two hours in advance of the time her mortgage company, PHH Mortgage Corporation — may its name live in infamy — was to auction off her home, Balderrama killed herself with her husband’s rifle…
Slash interest rates now or risk deepening recession, Bank of England adviser warns.
The Guardian, Thursday 23rd July, 2008
The British economy is falling into a recession that could be deep and painful if interest rates are not cut sharply right now, says Professor David Blanchflower, a member of the Bank of England’s monetary policy committee (MPC).
Blanchflower, who spends half his time in the United States as an economics professor at Dartmouth College, thinks Britain could be in for a worse time than the US economy and needs to slash interest rates as the Federal Reserve has done over there. Hundreds of thousands of people are likely to lose their jobs, he thinks…
The Gods of Greed
G2, The Guardian, Monday 2nd June, 2008
Larry Elliot and Dan Atkinson offer the first of three extracts from their forthcoming book in which they critically explore the roots of the financial crisis.
Larry Elliot and Dan Atkinson offer their second extract from their forthcoming book. Here they reveal how a wealthy elite rewrote all the rules - and conned the middle class.
The Fightback starts here G2, The Guardian, Tuesday 3rd June, 2008The excesses of banks, big business and the super-rich have shattered our economic system. In the final extract from their new book, Larry Elliott and Dan Atkinson put forward their principles for a fairer and more cohesive society.
Roubini still pesimistic over the economy The Financial Times, May 28, 2008Nouriel Roubini, founder of the RGE Monitor, talks to the Financial Times about the present state of the economy.
Ann Pettifor is a political economist and author of 'The Coming First World Debt Crisis' (Palgrave, 2006) and editor of 'The Real World Economic Outlook' (Palgrave, 2003). She is a fellow of the 
