The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order... 

In the Brazilian city of Sao Paulo, thousands of people have demonstrated against corruption and income inequality in the country. During the protests on Friday, demonstrators called for reshuffling of the country’s political and economic system. Protests were also held in several other cities including Rio de Janeiro. Angry protesters looted a major bank and national media giant Globo TV headquarters,... 

The global banking crisis of 2008, caused by the reckless behaviour of American lenders, spread shockwaves around the world that are still being felt today. Banking giants such as Lehmann brothers & Bear Stearns collapsed and other banks scrambled to secure ‘bailouts’ from their governments to avoid going the same way. In Ireland, the downturn in the property market caused the Anglo Irish... 

At one time, it seems decades ago now, the general thinking in the USA was that President Barack Obama would jolt the American political system into actually doing something beneficial for its citizens rather than spying on them, building F-35 aircraft, upgrading nuclear weapons, spending trillions of dollars (US) on national security, cutting unemployment benefits/food stamps, fomenting war with... 

Large depositors stand to lose up to 60 percent of their savings as Cyprus enforces the controversial conditions of a €10-billion bank bailout from the eurozone and the International Monetary Fund. Officials said that deposits over €100,000 ($128,225) at the country’s largest bank will lose 37.5 percent of their value after being converted into bank shares. The losses could increase by another... 

The central bank in Cyprus has imposed an ATM withdrawal limit of 100 euros per day for the island’s two biggest banks, in order to prevent a run on lenders. A spokesman for the country’s second largest lender, Cyprus Popular Bank, told Reuters that the new measure began at 1pm local time (11am GMT) and would remain in place until the bank reopens, or until confirmation of continued emergency... 

In Nigel Farage’s first TV appearance since the Cypriot wealth tax was announced, the Englishman pulls no punches. In all his years and all his experience of the desperation of the European Union’s leadership “never did [he] think they would resort to stealing money from people’s savings accounts.” The simple fact is that they know they cannot let any country leave, no matter how small,... 

Cypriot MPs vote on a controversial bailout package during a parliament session in Nicosia on March 19, 2013. The Cypriot parliament has voted against a revised bank deposit levy. The tax was meant to shave 9.9% off any deposits over €100,000 and has since caused uproar in the country. Thirty six deputies voted against the proposal to tax bank deposits in the 56-member chamber, while 19 abstained.... 

Britain’s Royal Air Force is flying out one million euros ($1.3 million) in emergency loans for UK military personnel, as a “contingency measure” in case debit cards and cash machines stop working on the island. Britain’s ministry of defense (MoD) said the flight has a “contingency measure” in case banks in Cyprus stop giving out cash, as the country deals with the fallout from a controversial... 

Cyprus will collect 3.5 billion euros from Russian citizens, taking into account the total amount of deposits. The country is in the process of discussing one-time write-off of 9.9 percent of all deposits exceeding 100,000 euros. Smaller deposits may expect a smaller collection of 6.75 percent. The outflow of Russian money from Cyprus is obvious, but the question is – where will it go? All Cypriot... 

The outcome of the biggest banking fraud case in Iran’s history was made official on February 18. According to Associated Press, four bankers have been sentenced to death in Iran for their role in a $2.6B scandal, while two more bankers were given life sentences, and 33 more accomplices will spend up to 25 years in jail, the chief prosecutor was quoted as saying. This is the biggest banking fraud... 

Economists predict that the US Federal Reserve could lose half a trillion dollars in just three years thanks to policies enacted by the central bank under Chairman Ben Bernanke. A study conducted by investment analysts at New York City’s MSCI Inc. suggests that Mr. Bernanke’s efforts to keep the floundering economy in tact on the heels of a recession have proven to be futile and will continue... 

A grim Ministry of Finance (MOF) report circulating in the Kremlin today warns that Venezuela’s “nuclear option” crashing of its currency yesterday is a “clear signal” that the Western banking systems “house of cards”, erected in the aftermath of the 2007-2008 Global Economic Crisis, is in “total collapse” with the expected final outcome to be an “apocalyptic” crash of the US... 

Switzerland will now assist international tax authorities in disclosing information on bank accounts held by foreigners who avoid taxation at home. Joint efforts by the EU, the US and number of other countries have led to Switzerland introducing new banking laws on February 1. The new regulation now allows foreign tax services to send group requests for bank account information of their citizens.... 

A shocking report issued today by the Federal Migration Service (FMS) is warning that local services in Moscow and St. Petersburg are being “overwhelmed” due to the growing number of American and Western European refugees flooding into Russia, a situation, they say, was made even worse this past month with the reelection of President Obama. The FMS is the federal executive body that implements...