Corporate Watch publishes new Guide to Banking and Finance
February 8, 2012
With the economic crisis showing no signs of retreat, and the impact of the government's aggressive austerity measures already being felt, the status of the financial sector is very much in question. However, despite five years of economic turmoil, the workings of the financial system are still bewilderingly opaque to many people (including most politicians,
it seems!).
We are therefore pleased to announce the publication of our clear and concise, 24-page 'Nuts & Bolts' Guide to the ins and outs of the financial sector. From hedge funds to the money markets and derivatives, all of the major players and products are broken down from a critical perspective. With jargon deconstructed, case studies explained and many of the myths about the city and its operations debunked, this booklet is designed to give readers with little or no knowledge of the world of finance and banking an accessible overview of its workings.
This booklet is the first publication in our 'Banking on Crisis' series, which also consists in a news research blog (
www.bankingoncrisis.org) and a series of ongoing workshops. The next booklet, due out it the next few months, will cover the ongoing economic crisis, its origins and history, the politics of crisis and a breakdown of some of the most common narratives used to explain the current financial meltdown. Watch this space for more...
To order a hard copy (£2) go to our shop
Or to download the digital version (free) click here
http://www.corporatewatch.org/?lid=4171
Making Sense of the Crisis
December 19, 2012
Making_Sense_of the Crisis_CW_print[1].pdf
Making_Sense_of the Crisis_CW_print[1].txt
Making sense of the financial crisis may sound like a daunting task. Often the financial system comes across as an impenetrable web of obscure institutions and complicated transactions. Explanations of how these institutions work, what instruments they use and the impact that they have on us often get lost in the technical jargon used to talk about them. Libraries are full of economic theories and analyses used to explain or justify policies and opinions, yet they often assume readers are up to speed with the facts and debates. So is it possible to make sense of the crisis?
We would like to think that it is and so have published the second part to the Corporate Watch Guide to Finance and Banking.
A common trend in mainstream analysis of the financial crisis has been to blame individual institutions or managers for 'bad investment decisions' – the good old 'bad apples' argument. The first article in this briefing deconstructs this and other myths and shows how the credit crunch came about as an inevitable result of the recent developments in the present arrangements of the economic and financial system, i.e. capitalism.
The second article, Crisis Stories, provides summaries of, and comments on, different interpretations and analyses of the financial crisis (Marxist, Keynesian and so on). Though it was originally written and published online in 2009, the author's analysis of the credit crunch still holds up and is, in fact, supported by recent developments.
Finally, to complement 'our' critical take on the crisis, we have included an interview with a bank trader to give readers a glimpse into how 'they' think.
Click here to download the pdf
http://www.corporatewatch.org/?lid=4624