Corruption / financial criminality

• Egypt’s debt must fall with Mubarak’s regime

  by Nick Dearden

  18 February 2011

  The debts of Egypt and Tunisia must be cancelled if the people on the streets of Cairo and Tunis are to take control of their economy and hold Western countries to account In the best tradition of dictators, Hosni Mubarak pillaged Egypt’s economy, and leaves office with as much as $70 billion in his family’s bank account while he bequeaths $30 billion in debt to the Egyptian people. Zine el Abidine Ben Ali leaves $15 billion to the people of Tunisia, taking a more modest $3 billion for (...)

• 2nd South Asian Workshop on International Financial Institutions and Debt

  IFIs, Pakistan & War on Terrorism

  
  by Abdul Khaliq

  15 January 2009

  Presented by Abdul Khaliq, CADTM Pakistan.

• International petition

  Speculation and collapse : enough !

  27 March 2008

  Freedom for finance is destroying society. Every day, in both North and South, shareholders silently pressure firms and workers to extract higher and higher returns. The situation becomes dramatically visible when major crises display the excesses of speculative greed and its backlash on growth and employment. Lay-offs, precarious work, deepening inequalities: workers and the poor suffer most from both the speculation and the toxic effects of subsequent financial collapse. During the last (...)

• The Proof Is in: Third-World Debt Is Erasable

  
  by Éric Toussaint, Damien Millet

  27 March 2008

  Published in Le Monde and www.truthout.org Since August 2007, North American and European banks have been experiencing a very severe crisis, now poised to spread to the entire neo-liberal free-market system as a whole. The actual sum of asset write-offs the banks have had to make now exceeds $200 billion (127.4 billion Euros). According to the most qualified experts, the bill will ultimately exceed a trillion dollars. In the United States, 84 mortgage loan companies went bankrupt or (...)

• The triple failing of the big private banks

  
  by Éric Toussaint, Damien Millet

  18 March 2008

  Since August 2007, US and European banks have constantly made headline news concerning the deep crisis they are going through and its knock-on effect on the neoliberal economic system as a whole. Asset depreciation for these banks currently stands at over 200 billion dollars. Several banking research services and seasoned economists estimate that the final damage will exceed 1,000 billion dollars. How did the banks manage to build such an irrational lending system? Eager for profit, (...)

• An international economic situation dominated by the bursting of the North’s private debt and housing bubbles

  
  by Éric Toussaint

  10 January 2008

  Updated January 2008 The crisis that swept through the US in August 2007 is not over yet and the international repercussions will be deep and lasting. When the housing bubble burst in August 2007, it shook financial markets worldwide. This housing crisis is closely linked to a private debt crisis in the world’s most industrialized countries. Clearly this crisis will be with us for several years. With perhaps worse to come. All the warning signs were there: the boom in housing construction (...)

• Benazir assassination: The unprecedented mass reaction

  by Farooq Tariq

  29 December 2007

  Pakistan has never seen so many people protesting in streets all over as been the case during the last two days. They were all united across Pakistan to condemn the brutal murder of Benazir Bhutto. The news was heard with a great shock and there was an immediate mass anger erupted in all parts of Pakistan. 28th December was the first day of general strike called by many groups ranging from political parties to various professional groups. Most of elections posters, banners, flags and bill (...)

• An international economic situation dominated by the bursting of the North’s private debt and housing bubbles

  
  by Éric Toussaint

  22 November 2007

  The crisis that swept through the US in August 2007 is not over yet and the international repercussions will be deep and lasting. When the housing bubble burst in August 2007, it shook financial markets worldwide. This housing crisis is closely linked to a private debt crisis in the world’s most industrialized countries. Clearly this crisis will be with us for several years. With perhaps worse to come.

• A World Bank report kept under wraps brings fresh proof of the Bank’s failure to work for development and an end to corruption

  
  by Renaud Vivien

  5 November 2007

  The High Court of Bannai has rejected Novartis’ appeal against the Indian Patent Act, placing the Indian pharmaceutical sector in the limelight once again. This time, the issue is of fraudulent practices by pharmaceutical companies within the ambit of a project funded by the World Bank: the “Reproductive and Child Health Project 1” (RCH1). A confidential report by the Department of Institutional Integrity – INT (an internal wing of the Bank mandated to investigate the frauds in Bank-funded (...)

• Preventing future illegitimate lending in Ecuador

  by Joseph Hanlon

  25 May 2007

  Ecuador will need to borrow money for infrastructure development. Indeed, it is actively promoting a Banco del Sur for just this purpose. How can Ecuador avoid the errors of the past and assure that such loans are “legitimate” and can and should be repaid? If Ecuador is to repudiate past illegitimate loans, how can lenders be sure that future loans will be legitimate and be repaid? This is directly linked to the debt audit and the demand to renegotiate past illegitimate debt. If Economics (...)

0 | 10