On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country.
Karl Polanyi condemned profit greed and deregulated markets. Today's capitalismcritics are his heirs and don't know it. An unfettered capitalism is responsible for the world coming out of joint. "Finance capital was put in the driver's seat."
The Managing Director of the International Monetary Fund, Christine Lagarde, announced that she is resigning. Lagarde is pursuing her nomination to lead the European Central Bank. Her resignation takes effect on September 12th.
Bourgeois theorists have always believed capitalism to be “everlasting” because, they claim, it is in accordance with “human nature.” For them, all crises are only cyclical and transient: they are understood to be the result of imbalances between supply and demand, or are even praised as a form of “creative destruction.” This interview is from www.exit-online.org, 2/23/2019