Examples of the Inherent Corrupt Nature of Corporations

Hi, In 2004, Joel Bakan published a book titled: The Corporation: The Pathological Pursuit of Profit and Power. Balkan argued that Corporations are inherently corrupt because they are legally bound to place profit over everything, even the public good.  The book was turned into a successful film and a movement was launched. I agree with Bakan's …

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Detrimental Influences: Negro Encroachment

In June of 1937, surveyors from the Federal government-sponsored Home Owner's Loan Corporation (HOLC) visited Philadelphia neighborhoods to warn banks away from lending in areas with large number of African Americans. These surveyors assessed the favorable and detrimental influences. Favorable: Good transportation. Detrimental: Negro encroachment. Read the surveys your self: West Philadelphia survey, South Philadelphia survey, …

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HSBC, the US Justice Department, and the War on Drugs

December 11, 2012: HSBC Bank agreed to pay $1.256 billion and enter into a deferred prosecution agreement with the Justice Department for HSBC’s violations of the Bank Secrecy Act (BSA), the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA). According to court documents, HSBC Bank USA violated the BSA …

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Supra-Governments – “The Most Powerful Force on Earth”

Who needs conspiracy theories? Just read the Financial Times. Roger Altman is an American investment banker and a former Democratic politician. He served as Assistant Secretary of the Treasury in the Carter administration from January 1977 until January 1981 and as Deputy Secretary of the Treasury in the Clinton administration from January 1993 until he …

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The Minsky Moment and the Inherent Flaws of a Free Market Economy

Hyman Minsky was an American economist and a professor of economics at Washington University in St. Louis. Minsky spent his life on the margins of economics but his ideas gained currency with the 2007-08 financial crisis. To many, it seemed to offer one of the most plausible accounts of why it had happened. Minsky wrote …

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List of Bank Fraud and Criminal Activities

Contrary to popular belief, banks are not tools used to serve the public good. In reality, modern day banking is basically used to serve private needs. There is no need to engage in conspiracy theories or debate, the facts speak for themselves. Below are a list of banks that have engaged in fraud and/or other …

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Africa’s Odious Debts: How Foreign Loans and Capital Flight Bled a Continent

JAMES K. BOYCE, DEVELOPMENT, PEACEKEEPING AND ENVIRONMENT PROGRAM, PERI Institute LEONCE NDIKUMANA, PROF. ECONOMICS, UMASS AMHERST A new book titled Africa's Odious Debts: How Foreign Loans and Capital Flight Bled a Continent begins its conclusion with the following. During the past four decades, sub-Saharan Africa has experienced a financial hemorrhage. We estimate that from the …

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