"Protesters Scuffle with Lobbyists" reads the extremely misleading headline in the Albuquerque Journal. At least the New Mexican acknowledged that many of the attendees at ALEC's recent dinner in Santa Fe were indeed lawmakers and thus deserving of more respect than reviled lobbyists.But what if…See More

 by Michael Hudson, Professor of Economics, University of Missouri      "The endgame in times past was to write down bad debts. That meant losses for banks and investors. But today’s debt overhead is being kept in place – shifting bad loans off bank balance sheets to become public debts owed by taxpayers to save banks and their creditors from loss. Governments have given banks newly minted bonds or central bank credit in exchange for junk mortgages and bad gambles – without re-structuring the…See More