Posts Tagged 'economy'

Klepto Capitalism

I came across this term while catching up on my 3QD posts. Klepto capitalism makes a lot of sense and it describes corporate America very well. How can a company pay its workers $50,000 per annum and give its top execs millions, if not billions, of dollars each year? I think that the worst culprits are in the financial sector, especially in merchant banks and investment banks, with their bloated end-of-year bonuses often going into millions. Even with the economic downturn, these ultra-rich are getting richer.

Klepto Capitalism (n.) ā€” an economic system where publicly traded corporations are run not to produce value for shareholders but to provide obscene amounts of wealth for CEOs and top executives.

What we have in the United States is no longer capitalism but klepto-capitalism: a system where publicly traded corporations are run not to produce value for shareholders but to provide loot for a new class of corporate mega-thieves.

ā˜…

What You Missed This Weekend in Financial News

The end of the world, most likely. Financial giant AIG has posted a $60 billion loss.

Depression of 2009

A frank look at what the upcoming depression might look like.

How Porsche Took Over VW

A great article from the Economist on how Porsche pawned hedge funds to take over VW.

How Things Just went Wrong in the Crisis

The latest Reckoning article is up over at the NY Times and tells us how Wisconsin school boards were actually behaving like high-risk hedge funds to cover their pension funds.

Tribulations of a Bankrupt Nation

Tribulations and life in Iceland while their country has essentially gone bankrupt.

Gordon Brown Declares Iceland Terrorist State

Gordon Brown declared Iceland a terrorist state to freeze all of its assets in the UK.


subscribe to feed

About

ranjitwithkinginbehand.jpgI'm Range, your host. On the menu, photos, art, stories, entertainment and reviews. Links, maths, education and social issues. I'm in Quebec (Canada) or Taiwan (R.O.C.). Follow me on Twitter.

click to subscribe to The Memoirs & receive updates by email.

Join 1,454 other followers

@djrange: my tweets

channels

archives

del.icio.us

translate the memoirs

copyright notice & disclaimer

Please view the full disclaimer and copyright notice here
free web tracker

Ā© 2006-2012 Range all rights reserved


Follow

Get every new post delivered to your Inbox.

Join 1,454 other followers

%d bloggers like this: