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Financial crisis News

Texas Pastor bans women from wearing hair weaves to church

Waco - While many churches tell people to come as they are, one Texas pastor has added an exception to the message — women, leave your hair weaves at home.
In the Media by Yukio Strachan - 1 comment

Op-Ed: Nasdaq stops all trading as Economic Armageddon looms

The Nasdaq stops all trading partly because we are now on the verge of a historic economic meltdown. The Dow sinks for the sixth day as traders ponder fed exit. We are heading toward a frightening fall and punishing winter decorated in economic collapse.
In the Media by Eliot Elwar - 25 comments

Access to medicines restricted in Greece

Athens - Access to new medicines for patients in Greece has been on hold since December 2010 and the arrears owing to pharmaceutical companies from the state-run health insurer total over 2 billion euros.
In the Media by Tim Sandle - 1 comment

'Iceland' thaws out relationships with money and each other Special

Toronto - 'Iceland' is a Canadian play that premiered last summer to much acclaim. It presents three monologues that examine the banking crisis, revealing our own attitudes to money, opportunity, wealth, and success in the process.
Digital Journal Report by Cate Kustanczy - 1 comment

Could change in U.S. economic philosophy solve financial crises? Special

Many people are apprehensive of the direction in which the economy is going, and as these concerns over dire financial situations emerge across the world, people are actively searching for information.
Digital Journal Report by Leigh Goessl - 13 comments

Swiss bank UBS cuts 10,000 jobs

The major European bank UBS has announced it will cut 10,000 jobs worldwide. This is an attempt by the bank to reduce its costs. The restructuring is a result of the bank's exposure to the global financial crisis.
In the Media by Tim Sandle - 4 comments

Op-Ed: How many idiots does it take to fix a global economy? Too many

Sydney - Globalization has revealed exactly how many idiots, elected and otherwise, there are in top echelons in business and government around the world. They insist on using old logic to solve new problems.
In the Media by Paul Wallis - 8 comments

Op-Ed: The US dollar could collapse in the near future

The US dollar (USD) could collapse within the near future. The USD could fall during the months of October or November of 2012 or shortly afterwards. It could be replaced by either a new global or North American currency.
In the Media by Eliot Elwar - 2 comments

Op-Ed: The Beijing Defense vs. America's One Trick Pony

For the last three or four years we have seen the continual demise of the US dollar's influence and the rapid growth in China currency swaps, currency controls and currency ties as strategies against the dollar's influence. What of the dollar's future?
In the Media by Bill Jencks

Defying the city's eviction notice, Occupy Oakland storms bank

Oakland - After receiving an eviction notice from the city, the Occupy Oakland General Assembly defied the order to disperse, shutting down streets and storming a Chase bank branch.
In the Media by Michael Krebs - 3 comments

Crystal Cathedral files for bankruptcy

Garden Grove - The financial crisis and the troubled times that followed have hit every sector of the economy. Even churches have been hit hard. Now Crystal Cathedral in Garden Grove, California has filed for bankruptcy. It is apparent that nothing is sacred.
In the Media by Kevin Jess - 7 comments

Report: Suicide rate doubled year-over-year in Greece

According to Klimaka, an organization that runs a helpline in Greece for people considering suicide, recent months have seen the suicide rate go up from 1 person a day in 2009 to more than 2 per day this year.
In the Media by R. C. Camphausen - 9 comments

Bill Clinton blames current crisis on getting off gold standard

Former President Bill Clinton repeated the same sentiments as many Ron Paul supporters and Austrian theorists who want to see a return to the gold standard and that is the current financial crisis was due to getting off of the gold standard.
In the Media by Andrew Moran

Goldman Sachs 'boasted' about profits as economy fell

A U.S. Senate subcommittee released e-mails in which Goldman Sachs executives discuss how the “big short” strategy allowed the company to reap profits while others suffered large losses.
In the Media by Kay Mathews - 2 comments

World Economic Forum warns of a financial, sovereign debt crisis

This week the World Economic Forum said there is a one-in-five chance of a second financial crisis that could cost the world at least $1 trillion and a sovereign fiscal crisis.
In the Media by Andrew Moran - 5 comments

Storm Clouds Over Dubai

Dubai’s rapid growth was financed on borrowed money - its time to pay the piper. World Markets are worried about the emirate's six month delay in payments on its debt load.
In the Media by Andrew Boggs

Financial markets reflect on one-year anniversary of crash

Exactly a year has passed since global economic markets crashed. On this day, mainly as a result of the financial meltdown in the US, most of the world's stock exchanges experienced the worst declines ever, with drops of around 10 percent in most indices.
In the Media by Miriam Mannak - 1 comment

Alan Greenspan: Another financial crisis inevitable

Former United States Federal Reserve Chairman Alan Greenspan sat down with the BBC to discuss the current financial crisis, past mistakes and the future outlook of the global economy.
In the Media by Andrew Moran - 1 comment

Iconic Manhattan Post Office Building Future is Uncertain Special

The James A. Farley Building, forever a symbol of the U.S. Postal Service, now stands as both a reminder of what was and as a metaphor for what will be.
Digital Journal Report by Michael Krebs

Financial Crisis Will Increase Child Mortality Rates

A new United Nations study claims the global financial crisis will touch the lives of the world’s most vulnerable, pushing millions into deeper poverty and leading to the deaths of thousands of children.
In the Media by Bob Ewing

Investors turn to Gold

As the global financial crisis got worse trading in gold rose 58% to a record $20.2 trillion (£13 billion) last year. Silver trading also increased 39% to a record $2.6 trillion.
In the Media by Naved Akhtar - 1 comment

Op-Ed: What a great year for an alternative Christmas

The financial crisis of 2008 means many of us will have our first alternative or green Christmas. Nothing like the promise of a worsening economic situation to get your values in order. Maybe changing spending and consumption habits is the silver lining.
In the Media by Kathlyn Stone - 6 comments

Obama to Bank Executives: 'You Don't Need Your Big Bonuses'

United States Democratic President-elect Barack Obama had some interesting things to say to bank executives in regards to their fat bonuses.
In the Media by Can Tran - 3 comments

Times are Getting Tougher, Even for Those Willing to Sacrifice

Amid rising unemployment and layoffs, most Americans are willing to do what it takes to find work. However, even that attitude to sacrifice sometimes just isn't enough. Just ask Sam Gallup, a miner from upstate New York.
In the Media by Michael Casey - 2 comments

Impact of Financial Crisis on World’s Urban Poor

The current global financial turmoil must be viewed as a “housing finance crisis,” leaving the world’s urban poor to fend for themselves.
In the Media by Bob Ewing - 2 comments

Pakistan seeks International help as financial crisis threatens stability

Pakistan is seeking International help as the nation faces a 'balance of payments crisis' with the rupee falling to a record low. Pakistan is left with foreign currency reserves to cover only six weeks of imports.
In the Media by Kesavan Unnikrishnan

Iceland Turns to Russia for Loan

Iceland has held talks with Russia over a possible loan in order to stave off a crisis that has left its economy near collapse.
In the Media by Bob Ewing - 2 comments

Op-Ed: Inside The World Credit Crisis, How Long Before The Camel's Back Breaks

How far away is the U.S. from taking the economical crisis to a panic level in the streets? As Wall Street tumbles further, the rhetoric from the candidates gets more hostile and Bush promising everything is A-Okay. But people are stressing more.
In the Media by KJ Mullins - 2 comments

Op-Ed: The killing of Fannie Mae - Yes, it was greed, but it’s worse than that

And the stench just keeps on growing. Fannie Mae had very few choices, and they were all ugly. Pushed by the mortgage industry, and even by Congress, the world’s biggest mortgage company found itself buying anything and everything.
In the Media by Paul Wallis - 15 comments

Economic snapshot- Ahead of the bailout vote, world markets vote with their feet

The markets aren’t waiting for things to happen. Global markets staged a strategic withdrawal today as the suspense got on people’s nerves. But if you want peace of mind, don’t read the financial news. Things aren’t looking good.
In the Media by Paul Wallis - 1 comment
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Eurozone is lost in translation as EU collapses
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