The Plutonomy—AI Edition—and the Coming Crisis
Driven by speculative finance, stagnant wages, and AI hype, today’s tech-heavy economy mirrors the fragile plutonomy that collapsed into the Great Crash of 1929.
Latest news (Page 164)
Geithner and Kissinger Associates--pt. 1
From Bob Feldman: Treasury Secretary-Designate Geithner's Kissinger Associates Background—Part 1 Between 1986 and 1989, U.S.
Not Looking Good for Citi
Even amidst yesterday's stock market rally, Citigroup's shares fell; it lost more than half its value
Biggest CEO Losers are Winners
Even when their companies go belly up, Wall Street's former kings won't have to count on
Closures & Layoffs (Nov. 16-22)
Mark Heschmeyer's weekly report, from CoStar. Layoffs Hit Sun, AMD and Other Tech Firms A Weekly Report on
Big Three Spent $30 Million on Lobbying in '08
From Bob Feldman: If you check out the Center for Responsive Politics, you'll notice that General Motors, Ford,
S & P 314?
After the latest tanking of the stock market, the stocks of 101 companies on the S&P 500 are
Unemployment Insurance Running Out
UPDATE 6:31 PM: Responding to the massive public outpouring as a result of our earlier blog post, Congress rushed
AIG to pay $503 million to top execs
More good times at AIG, the failed insurance company that has (so far) received $152 billion in Federal bailout money.
$10 million gets you $billions!
Several insurance and financial service companies are reportedly buying up small S&L's, for as little as
Closures & Layoffs (Nov. 9-15)
Mark Heschmeyer's weekly report, from CoStar. We'd heard about the DHL layoffs from our UPS driver.
The Bank of Michael Perelman
From Michael Perelman's blog, Unsettling Economics. I am happy to announce that I have changed my name. As
Big Mac's Heart Attack
The Treasury is pumping in billions of dollars into mortgage giants Fannie Mae and Freddie Mac (now under federal control