Download or read book Race Empire and the Crisis of the Subprime written by Paula Chakravartty and published by Johns Hopkins University Press. This book was released on 2013-04-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major factor leading to the U.S. financial crisis was predatory lending by large banks to underprivileged and often nonwhite borrowers. Predatory lending of subprime mortgages targeting the most economically vulnerable minority communities helped trigger the current global financial crisis. This special issue of the journal American Quarterly explores the ways in which “subprime” becomes a racial signifier in the current debate about the causes and fixes for a capitalism itself in crisis. It signifies both the accumulated dispossession of racial exclusion in the twenty-first century gilded age in the United States and Global North more broadly, as well as the imperial ambitions of three decades of U.S.–led neoliberal rule over the Global South. Essays are divided into sections: debt, discipline, and empire; the pathologies of debt; and security, space, and resistance in the post-racial urban setting. Focusing on race and empire, that is, on racial and global subjugation, the contributors expose the ethical-political underpinnings of the current global financial crisis. Contributors include: Radhika Balakrishnan Jordan T. Camp Paula Chakravartty Ofelia Ortiz Cuevas Sophie Ellen Fung Daniel J. Hammel James Heintz Bosco Ho Zachary Liebowitz Tayyab Mahmud John D. Márquez Pierson Nettling C. S. Ponder Sarita Echavez See Shawn Shimpach Denise Ferreira da Silva Catherine R. Squires Michael J. Watts Elvin Wyly
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book Race and Crisis written by Suman Gupta and published by Routledge. This book was released on 2020-05-21 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the European Union seemingly teetered from a financial crisis to an immigration crisis around 2015 and onwards, discourses of race appeared to congeal in various member states. In some instances, these came with familiarly essentialist constructions; in others these were refracted cautiously through concerns about security, national and cultural integrity, distribution of public resources and employment, and so on. New political alignments surfaced on the back of such concerns, and established organizations changed their agendas accordingly. The border regimes of EU member states became increasingly fraught, both in terms of their everyday operations and in terms of the close attention and vociferous debates they attracted. In most instances, the internal and external borders of the EU hardened, and with increasing frequency the cohesion of the transnational union seemed on the verge of fracturing. Indeed, very real fissures opened up with secessionist moves and referendums. Through each step in this juncture of upheavals, the significance of race has been reiterated in tangential ways and sometimes with unabashed straightforwardness. This volume explores this juncture around 2015, and the constructions of race and of crisis therein, for specific contexts and from a range of disciplinary perspectives. The introduction gives an overview of the juncture, focusing on the rise of Eurosceptic nationalist political parties and their electoral success. Subsequent chapters are addressed to the management and representation of immigrants crossing the Mediterranean, border regimes in the Czech Republic, the narratives that converged on Brexit, riots in England, antagonistic popular movements in Sweden, racialization in crisis management in Italy, perceptions of migrants in Greece, and how race may be structured in and challenged through classroom pedagogy. This book was originally published as a special issue of Ethnic and Racial Studies.
Download or read book Inland Shift written by Juan De Lara and published by Univ of California Press. This book was released on 2018-04-20 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The subprime crash of 2008 revealed a fragile, unjust, and unsustainable economy built on retail consumption, low-wage jobs, and fictitious capital. Economic crisis, finance capital, and global commodity chains transformed Southern California just as Latinxs and immigrants were turning California into a majority-nonwhite state. In Inland Shift, Juan D. De Lara uses the growth of Southern California’s logistics economy, which controls the movement of goods, to examine how modern capitalism was shaped by and helped to transform the region’s geographies of race and class. While logistics provided a roadmap for capital and the state to transform Southern California, it also created pockets of resistance among labor, community, and environmental groups who argued that commodity distribution exposed them to economic and environmental precarity.
Download or read book All the Devils Are Here written by Bethany McLean and published by Penguin. This book was released on 2011-08-30 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hailed as "the best business book of 2010" (Huffington Post), this New York Times bestseller about the 2008 financial crisis brings the devastation of the Great Recession to life. As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, many devils helped bring hell to the economy. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the financial meltdown and its consequences.
Download or read book Race and America s Long War written by Nikhil Pal Singh and published by Univ of California Press. This book was released on 2017-11-07 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Donald Trump’s election to the U.S. presidency in 2016, which placed control of the government in the hands of the most racially homogenous, far-right political party in the Western world, produced shock and disbelief for liberals, progressives, and leftists globally. Yet most of the immediate analysis neglects longer-term accounting of how the United States arrived here. Race and America’s Long War examines the relationship between war, politics, police power, and the changing contours of race and racism in the contemporary United States. Nikhil Pal Singh argues that the United States’ pursuit of war since the September 11 terrorist attacks has reanimated a longer history of imperial statecraft that segregated and eliminated enemies both within and overseas. America’s territorial expansion and Indian removals, settler in-migration and nativist restriction, and African slavery and its afterlives were formative social and political processes that drove the rise of the United States as a capitalist world power long before the onset of globalization. Spanning the course of U.S. history, these crucial essays show how the return of racism and war as seemingly permanent features of American public and political life is at the heart of our present crisis and collective disorientation.
Download or read book Television and the Afghan Culture Wars written by Wazhmah Osman and published by University of Illinois Press. This book was released on 2020-12-14 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Portrayed in Western discourse as tribal and traditional, Afghans have in fact intensely debated women's rights, democracy, modernity, and Islam as part of their nation building in the post-9/11 era. Wazhmah Osman places television at the heart of these public and politically charged clashes while revealing how the medium also provides war-weary Afghans with a semblance of open discussion and healing. After four decades of gender and sectarian violence, she argues, the internationally funded media sector has the potential to bring about justice, national integration, and peace. Fieldwork from across Afghanistan allowed Osman to record the voices of many Afghan media producers and people. Afghans offer their own seldom-heard views on the country's cultural progress and belief systems, their understandings of themselves, and the role of international interventions. Osman analyzes the impact of transnational media and foreign funding while keeping the focus on local cultural contestations, productions, and social movements. As a result, she redirects the global dialogue about Afghanistan to Afghans and challenges top-down narratives of humanitarian development.
Download or read book Other People s Money written by Charles V. Bagli and published by Penguin. This book was released on 2014-03-25 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: A veteran New York Times reporter dissects the most spectacular failure in real estate history Real estate giant Tishman Speyer and its partner, BlackRock, lost billions of dollars when their much-vaunted purchase of Stuyvesant Town–Peter Cooper Village in New York City failed to deliver the expected profits. But how did Tishman Speyer walk away from the deal unscathed, while others took the financial hit—and MetLife scored a $3 billion profit? Illuminating the world of big real estate the way Too Big to Fail did for banks, Other People’s Money is a riveting account of politics, high finance, and the hubris that ultimately led to the nationwide real estate meltdown.
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Download or read book The Housing Boom and Bust written by Thomas Sowell and published by Basic Books (AZ). This book was released on 2009-05-12 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.
Download or read book How All Politics Became Reproductive Politics written by Laura Briggs and published by University of California Press. This book was released on 2018-08-14 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today all politics are reproductive politics, argues esteemed feminist critic Laura Briggs. From longer work hours to the election of Donald Trump, our current political crisis is above all about reproduction. Households are where we face our economic realities as social safety nets get cut and wages decline. Briggs brilliantly outlines how politicians’ racist accounts of reproduction—stories of Black “welfare queens” and Latina “breeding machines"—were the leading wedge in the government and business disinvestment in families. With decreasing wages, rising McJobs, and no resources for family care, our households have grown ever more precarious over the past forty years in sharply race-and class-stratified ways. This crisis, argues Briggs, fuels all others—from immigration to gay marriage, anti-feminism to the rise of the Tea Party.
Download or read book Makers and Takers written by Rana Foroohar and published by Currency. This book was released on 2017-09-12 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is Wall Street bad for Main Street America? "A well-told exploration of why our current economy is leaving too many behind." —The New York Times In looking at the forces that shaped the 2016 presidential election, one thing is clear: much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum. A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class. She draws on in-depth reporting and interviews at the highest rungs of business and government to show how the “financialization of America”—the phenomenon by which finance and its way of thinking have come to dominate every corner of business—is threatening the American Dream. Now updated with new material explaining how our corrupted financial system propelled Donald Trump to power, Makers and Takers explores the confluence of forces that has led American businesses to favor balance-sheet engineering over the actual kind, greed over growth, and short-term profits over putting people to work. From the cozy relationship between Wall Street and Washington, to a tax code designed to benefit wealthy individuals and corporations, to forty years of bad policy decisions, she shows why so many Americans have lost trust in the system, and why it matters urgently to us all. Through colorful stories of both “Takers,” those stifling job creation while lining their own pockets, and “Makers,” businesses serving the real economy, Foroohar shows how we can reverse these trends for a better path forward.
Download or read book In Defense of Housing written by Peter Marcuse and published by Verso Books. This book was released on 2024-08-27 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: In every major city in the world there is a housing crisis. How did this happen and what can we do about it? Everyone needs and deserves housing. But today our homes are being transformed into commodities, making the inequalities of the city ever more acute. Profit has become more important than social need. The poor are forced to pay more for worse housing. Communities are faced with the violence of displacement and gentrification. And the benefits of decent housing are only available for those who can afford it. In Defense of Housing is the definitive statement on this crisis from leading urban planner Peter Marcuse and sociologist David Madden. They look at the causes and consequences of the housing problem and detail the need for progressive alternatives. The housing crisis cannot be solved by minor policy shifts, they argue. Rather, the housing crisis has deep political and economic roots—and therefore requires a radical response.
Download or read book Histories of Racial Capitalism written by Justin Leroy and published by Columbia University Press. This book was released on 2021-02-09 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between race and capitalism is one of the most enduring and controversial historical debates. The concept of racial capitalism offers a way out of this impasse. Racial capitalism is not simply a permutation, phase, or stage in the larger history of capitalism—since the beginning of the Atlantic slave trade and the colonization of the Americas, capitalism, in both material and ideological senses, has been racial, deriving social and economic value from racial classification and stratification. Although Cedric J. Robinson popularized the term, racial capitalism has remained undertheorized for nearly four decades. Histories of Racial Capitalism brings together for the first time distinguished and rising scholars to consider the utility of the concept across historical settings. These scholars offer dynamic accounts of the relationship between social relations of exploitation and the racial terms through which they were organized, justified, and contested. Deploying an eclectic array of methods, their works range from indigenous mortgage foreclosures to the legacies of Atlantic-world maroons, from imperial expansion in the continental United States and beyond to the racial politics of municipal debt in the New South, from the ethical complexities of Latinx banking to the postcolonial dilemmas of extraction in the Caribbean. Throughout, the contributors consider and challenge how some claims about the history and nature of capitalism are universalized while others remain marginalized. By theorizing and testing the concept of racial capitalism in different historical circumstances, this book shows its analytical and political power for today’s scholars and activists.
Download or read book Shutdown written by Adam Tooze and published by Penguin. This book was released on 2021-09-07 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book’s great service is that it challenges us to consider the ways in which our institutions and systems, and the assumptions, positions and divisions that undergird them, leave us ill prepared for the next crisis."—Robert Rubin, The New York Times Book Review "Full of valuable insight and telling details, this may well be the best thing to read if you want to know what happened in 2020." --Paul Krugman, New York Review of Books Deftly weaving finance, politics, business, and the global human experience into one tight narrative, a tour-de-force account of 2020, the year that changed everything--from the acclaimed author of Crashed. The shocks of 2020 have been great and small, disrupting the world economy, international relations and the daily lives of virtually everyone on the planet. Never before has the entire world economy contracted by 20 percent in a matter of weeks nor in the historic record of modern capitalism has there been a moment in which 95 percent of the world's economies were suffering all at the same time. Across the world hundreds of millions have lost their jobs. And over it all looms the specter of pandemic, and death. Adam Tooze, whose last book was universally lauded for guiding us coherently through the chaos of the 2008 crash, now brings his bravura analytical and narrative skills to a panoramic and synthetic overview of our current crisis. By focusing on finance and business, he sets the pandemic story in a frame that casts a sobering new light on how unprepared the world was to fight the crisis, and how deep the ruptures in our way of living and doing business are. The virus has attacked the economy with as much ferocity as it has our health, and there is no vaccine arriving to address that. Tooze's special gift is to show how social organization, political interests, and economic policy interact with devastating human consequences, from your local hospital to the World Bank. He moves fluidly from the impact of currency fluctuations to the decimation of institutions--such as health-care systems, schools, and social services--in the name of efficiency. He starkly analyzes what happened when the pandemic collided with domestic politics (China's party conferences; the American elections), what the unintended consequences of the vaccine race might be, and the role climate change played in the pandemic. Finally, he proves how no unilateral declaration of 'independence" or isolation can extricate any modern country from the global web of travel, goods, services, and finance.
Download or read book Indigenous Dispossession written by M. Bianet Castellanos and published by Stanford University Press. This book was released on 2020-12-15 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the recent global housing boom, tract housing development became a billion-dollar industry in Mexico. At the national level, neoliberal housing policy has overtaken debates around land reform. For Indigenous peoples, access to affordable housing remains crucial to alleviating poverty. But as palapas, traditional thatch and wood houses, are replaced by tract houses in the Yucatán Peninsula, Indigenous peoples' relationship to land, urbanism, and finance is similarly transformed, revealing a legacy of debt and dispossession. Indigenous Dispossession examines how Maya families grapple with the ramifications of neoliberal housing policies. M. Bianet Castellanos relates Maya migrants' experiences with housing and mortgage finance in Cancún, one of Mexico's fastest-growing cities. Their struggle to own homes reveals colonial and settler colonial structures that underpin the city's economy, built environment, and racial order. But even as Maya people contend with predatory lending practices and foreclosure, they cultivate strategies of resistance—from "waiting out" the state, to demanding Indigenous rights in urban centers. As Castellanos argues, it is through these maneuvers that Maya migrants forge a new vision of Indigenous urbanism.
Download or read book Racial Worldmaking written by Mark C. Jerng and published by Fordham Univ Press. This book was released on 2017-11-07 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: When does racial description become racism? Critical race studies has not come up with good answers to this question because it has overemphasized the visuality of race. According to dominant theories of racial formation, we see race on bodies and persons and then link those perceptions to unjust practices of racial inequality. Racial Worldmaking argues that we do not just see race. We are taught when, where, and how to notice race by a set of narrative and interpretive strategies. These strategies are named “racial worldmaking” because they get us to notice race not just at the level of the biological representation of bodies or the social categorization of persons. Rather, they get us to embed race into our expectations for how the world operates. As Mark C. Jerng shows us, these strategies find their most powerful expression in popular genre fiction: science fiction, romance, and fantasy. Taking up the work of H.G. Wells, Margaret Mitchell, Samuel Delany, Philip K. Dick and others, Racial Worldmaking rethinks racial formation in relation to both African American and Asian American studies, as well as how scholars have addressed the relationships between literary representation and racial ideology. In doing so, it engages questions central to our current moment: In what ways do we participate in racist worlds, and how can we imagine and build one that is anti-racist?
