In a time of credit crisis, small to medium bank branches are failing, forcing the Federal Deposit Insurance Corporation (FDIC) to go in and clean up the mess. Coming in stealthily to avoid public panic and sudden withdrawal of all a bank’s funds, which would result in a sinking of the bank and possibly others in the area, the FDIC makes a quick job of taking over the bank.

Short article from Bahrain weekly 'The Gulf' in which the author of 'Super Imperialism' and 'Global Fracture' makes what is hardly the 'modest proposal' he pretends it is, and perhaps also gives a clue as to what he thought he was doing as 'economic adviser' to Denis Kucinich's presidential run. Hudson proposes that an unspecified bloc of 'Middle Eastern' state-capital should try to settle the dollar-standard blackmail once and for all by offering to buy the US out of the military infrastructure (i.e.

As the US subprime mortgage crisis plays out, the ‘dual morality’ of its victims' treatment becomes stark. But, Randy Martin explains, bailing-out the banks while leaving defaulters to rot is just the latest in a 30 year campaign of ripping off the American working class

Private Eye looks back at the birth of PFI and makes a not-so-surprising discovery.

A reader alerts the Eye to a 1940s history of Benito Mussolini, uncovered by a US think tank, and makes an unkind comparison with Gordon Brown's current favourite policy.  
   

Michael Hudson on the fiscal policy continuity from Reagan's supply side 'voodoo' through (Bill) Clinton-era government by Goldman Sachs bond traders (a tradition continued with Bush's appointment of Paulson) to the present crisis.

Resurrecting Greenspan
Hillary Joins the Vast, Rightwing Financial Conspiracy

By MICHAEL HUDSON