Economic News: Corporations Survive by Exploiting Taxpayers and the Earth
December 29, 2008, 12:14 pm
Filed under: business, collapse, consumerism, corporate corruption, economy, news, politics

UBS loses 6 Billion in Madoff Ponzi Scheme – Der Spiegel 12/27/08

WaMu built empire on shaky loans – Raw Story 12/27/08 

Fed Approves GMAC Request to Become a Bank – NYTimes 12/24/08

Goldman Sachs Offshores Its Profits and Reduces Its Taxes to 1%  – Implode Explode 12/17/08

“With the right hand out begging for bailout money, the left is hiding it offshore.”

Exxon Mobil to pay $6.1 million for air pollution – CNN 12/17/08

Federal officials have fined Exxon Mobil more than $6 million after it violated a three-year-old agreement to decrease air pollution at four of its refineries.

Automakers to get $17.4 billion in government aid (Reuters)  – Yahoo 12/19/08

Chrysler shutting down all plants for a month – USA Today 12/17/08

Chrysler said Wednesday it is closing all 30 of its manufacturing plants for a month starting Friday . 

Forget Holiday Sales — Struggling Retailers May Turn to Defense Contracts to Keep From Going Under  – Alternet 12/16/08

With the consumer economy on the skids, civilian companies may turn their attention to making products for the Pentagon.

Supertankers store 50m barrels of oil  – Financial Times, UK 12/15/08

Oil companies and traders are storing at least 50m barrels of oil in supertankers in a clear sign of supply outstripping demand as the global economy slows.



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