The South African Civil Society Information Service
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
"Has the International Monetary Fund (IMF) lived up to its founding goals or is it just a club for rich countries to dictate growth?" asks Al Jazeera, after the IMF met for its annual meeting in Turkey last week. Two years ago, The IMF was fighting for relevance but has come back with vigour, bolstered by a new role given to it by G20 leaders at the London Summit earlier this year -- to bail out countries affected by the global financial and economic crisis and to play a key role...
Saliem Fakir -
The recent G20 meeting is prescient. It reinforces the idea, despite scepticism about state intervention, that only the state can bring back balance. The G20 statement is full of measures that speak to a throng of interventions that demonstrate the state’s capacity is not nascent, but real.
The financial crisis like the “War or Terror” legitimises state activism within the economy. If you thought the state was dead you cannot help but feel that its strident zest for life is...
"Now remember a few months ago it was all about, ooh, if there's too much regulation, it's going to kill creativity in the banking sector. Well, thank you very much for creativity, we don't need too much of that," says Christine Lagarde, the French Finance Minister, who with President Nicolas Sarkozy is spearheading reforms in the French banking sector, aimed at reducing the bonuses of bankers. A BBC poll has found that 67% of French people support more regulatory oversight over...
In this timely interview, one year after the closure of Lehman Brothers, which coincides with the anniversary of the global financial crisis, The Real News Network talks to Sony Kapoor, Managing Director of Re-define.org. Kapoor is an ex-Lehman Brothers investment banker who now applies his skills for social benefit. He sheds light on the intriguing world of financial markets, exposing the house of cards we familiarly refer to as the international financial system. *** PAUL JAY: Welcome to...
Saliem Fakir -
One of the obvious and glaring things about the financial crisis is how much of it involves saving the rich rather than the poor. And, how much the poor continue to be disadvantaged by the failures and reckless pursuits of the rich – there is certainly a deferment of their interests.
Noam Chomsky, in a recent article of the Boston Review (September/October 2009), showed how other pressing crises such as food shortages, desertification and lack of progress on the Millennium Development...
Sarah Anderson -
Since the eruption of the economic crisis last fall, armies of corporate lobbyists have been battling to keep even modest changes in executive compensation rules off the legislative table. Their most common argument: pay restrictions will drive "top talent" out of U.S. firms and into the welcoming arms of higher-paying European companies.
This argument has always been laughable. Was it really a résumé-builder to lose trillions of dollars in financial wealth and drive...
