Executive Pay and the Bailout

In recent weeks, two legislative initiatives have aimed to crack down on profiteering from the financial bailout. Both were prompted by evidence that the pay restrictions in the original bailout bill have proven largely toothless. Some of the recipients — most...

Assessing the G-20 Declaration

The G-20’s “Summit on Financial Markets and the World Economy,” held in Washington on November 15, gave world powers a chance to coordinate their responses to the burgeoning international financial crisis and accompanying ills in real economies...
Skewed Priorities

Skewed Priorities

The approximately $4.1 trillion that the United States and European governments have committed to rescue financial firms is 40 times the money they’re spending to fight climate and poverty crises in the developing...

Bailouts Dwarf Spending on Climate and Poverty Crises

The financial crisis is only one of multiple crises that will affect every country, rich and poor alike. There’s also the global poverty crisis. Tens of millions of people across the developing world are expected to fall into extreme poverty and joblessness as a...

Response to Poverty and Empire: Denial

In the 1970s, Martin Agronsky, a weekend talk show host in Washington, finally invited the venerable I.F. (Izzy) Stone to join the establishment “pundits.” From the early 1950s through the early 1970s, Izzy had raised the basic issues to a readership...

Make the Speculators Pay

It’s unclear whether the $700 billion bailout of Wall Street will help stabilize roller-coaster financial markets. Congress now must focus on the unfinished business of a Main Street economic recovery plan. For eight years, the Bush administration and the...

Talking Points: Economic Meltdown

Put over-reliance on the free market together with “hands-off” government and you get an economic melt-down, with the spectacle of the government bailing out and buying giant financial firms: the very antithesis of the “free market” that the...

Rewrite Bailout Rules on CEO Pay

Treasury Secretary Henry Paulson has executed two fairly slick about-faces since Congress passed the $700 billion Wall Street bailout two weeks ago. The first makes eminent sense. The second should outrage you. Let’s start with Paulson’s positive turn. His...
World Bank Should Not Be Solving Food Crisis

World Bank Should Not Be Solving Food Crisis

The World Bank should not be in charge of solving the global food crisis. This weekend in Washington, the World Bank was making a grab to become the key agency on this issue, entrusted with more power — and more taxpayer funds. Set up more than 60 years ago to...

Truth, Lies, the Bailout, and CEO Pay

Democratic lawmakers went into their bailout negotiations with Treasury Secretary Henry Paulson with some promising approaches for restraining executive pay. We don’t yet know what happened inside those negotiations, aside from a bit of reported shouting. But we...

IPS Statement on the Congressional Bailout of Wall Street

Over the past two weeks we have witnessed a remarkable outpouring of public outrage around the bailout bill. Now that the U.S. House of Representatives has just joined the Senate in approving this legislation, we at the Institute for Policy Studies (IPS) look forward...

U.S. Should Boost Nonmilitary Security

At a time when national consensus on anything is rare indeed, here’s one example: The balance between our spending on military forces and other security tools – like diplomacy, nonproliferation, foreign aid and homeland security – needs to change....