In the ongoing scandal about Barclays' employees tampering with the "LIBOR," or London interbank lending rate - which is to say, bank fraud - The Economist offers this brilliant cover. It's not just the word "banksters," or the fact that it shows bank executives dressed like the guys in Reservoir Dogs. It's the little things, like the two guys whispering to each other, the two others on their cell phones, and - best of all - the fact that they're wearing typical bankers' power ties.
Wall Street waged war on the American economy and middle class with its reckless gambling.
It wasn’t Fannie Mae or Freddie Mac that crashed the economy. It wasn’t the federal government. It wasn’t hapless homeowners who were sold mortgages they couldn’t afford. more »
The nightmare for far too many is Cyborgs. The public fears HAL, the 2001 Space Odyssey computer that killed astronauts rather than forfeit its objective.
So terrified of the sentient machine, citizens overlook the allegory. The soft-spoken, reasonable-sounding HAL behaves exactly like a greed-driven, multi-national corporation. The corporate mission is profit. more »
This story just hit the news: "Pay czar" will not cap compensation, reveal names. (Apologies for using the idiotic Glenn Beck term "Czar" to describe an adviser to the President, but Reuters felt it was appropriate to use Glenn Beck's framing, so I have to in order to report on it.) more »
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