Linked by David Adams on Wed 17th Dec 2008 17:15 UTC, submitted by Michael
In a muckraking Spiegel.de article, suppliers to well-known computer manufacturers are accused of mistreating workers and violating Chinese labor law: "According to a Hong-Kong based human rights organization, working hours total up to 370 hours per month, workers aren't receiving the legal minimum wage and in the run-up to Christmas, days off are cut out entirely." One of the reasons that high tech hardware has become so widespread and useful is because it's so inexpensive. As this article demonstrates, this affordability can come at a price.
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Member since:2008-07-15
There is, and it's that commercial banks and investment banks ended up all being in the same business.
Thats not an argument for it having an impact, especially when has been the investment banks that have failed and not the commercial banks.
So this is basically a crisis of unpayable debt waiting to happen. But the size of the crash was I think influenced by the amount of craziness happening in the banks and hedge funds a.o.
All this purposefully engineered by Wall Street and the Fed itself.
All this purposefully engineered by Wall Street and the Fed itself.
Yes there was like a lot of leveraging, but purposefully created it? I don't know about that.
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Member since:
2006-08-09
GS is such a buzz word these days. There is no good argument that connects GS's repeal to the current crisis whatsoever. "
There is, and it's that commercial banks and investment banks ended up all being in the same business.
But I agree, it's not the only cause because the US has been on this path ever since Reagan and it's been off gold since the seventies, giving it the opportunity to have the rest of the world pay for its deficits (trade, balance of payments).
So this is basically a crisis of unpayable debt waiting to happen. But the size of the crash was I think influenced by the amount of craziness happening in the banks and hedge funds a.o.
All this purposefully engineered by Wall Street and the Fed itself.