Capitalism in Crisis: The Broken Pact with the People

In the German press, the word "American" became shorthand for greed. Many managers demanded “American” salaries of over $10 million (€7.25 million) a year. They targeted “American” earnings for their companies. Ackermann aimed for profits of 25 percent. German savers were recommended to take an “American” approach to their investments. Saving accounts and government bonds were passé and investing and gambling with stocks was all the rage ... Full Story »

Posted by Peter Barnett
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Subjects: Business, World
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Posted by: Posted by Peter Barnett - Oct 8, 2008 - 9:58 AM PDT
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Edited by: Peter Barnett - Oct 8, 2008 - 9:58 AM PDT

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3.4
by Fabrice Florin - Oct. 8, 2008

Interesting analysis of how the global financial crisis is affecting Germany, based on a very personal interpretation by the author. He offers his thoughtful observations, based on factual and historical evidence, but many of his statements are largely speculation. An insightful read nonetheless.

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3.6
by Jim Lang - Oct. 8, 2008

This is a rather melodramatic German report on the economy. It is long on metaphors, short on detail and focussed principally on Germany. Nevertheless, there is a thread through the article that applies to all the developed world and captures at least one dimension of our dilemma.

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3.8
by Peter Barnett - Oct. 8, 2008

It proposes a rationale for the effect of the financial crisis on the German 'worker-taxpayer- investor', suggesting that they have been seduced by American carpetbaggers. Whether a fair comment or not, it reflects a feeling common to many 'Europeans' and is insightful inasmuch as such sentiments will certainly influence future relationship with the USA and its institutions.

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4.3
by jalal the - Oct. 9, 2008
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