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Economics
Occupy Wall Street movement reopens foreclosed homes
From Reuters Dec 10, 2011:
Empty homes were the target of this latest protest by the Occupy Wall Street Movement. In this case their attention was focussed on four homes abandoned or foreclosed in an area of New York they say is among the worst hit by the financial crisis. SOUNDBITE: Senia Barragan, protest organiser, saying (English): “The foreclosure and underwater rates in this particular community is three times higher and any other region of Brooklyn and five times higher than New York state and so really we’re bringing the Occupy movement to ground Zero.” Alfredo Carrasquillo and his family were among the protesters. They’ve taken up residence in one of the district’s vacant properties. The protesters threw a housewarming party to press home their demands for fewer repossessions and more affordable housing. SOUNDBITE: Alfredo Carrasquillo, protester, saying (English) “We took matters into our own hands and claimed back property that was taken away from the community.” Some of the residents in this Brooklyn neighbourhood were happy to see the protesters. SOUNDBITE: George Herivaux, resident, saying (English): “I think it’s great, I love it, I think it’s great. Yes, more often because we need it out here. People are losing their homes, the cops are out here dogging us, we need it out here.” The Occupy Wall Street movement began staging demonstrations in September in a backlash against the billions of dollars given to banks. They say the banks are raking in huge profits again while average Americans have no relief from high unemployment and a struggling economy. Paul Chapman, Reuters
Will Ireland concede on Irish corporation tax? Interviewed on BBC World Service “World Business Report”
BBC World Service “World Business Report” asked me “What will Ireland say if EU leaders insists it increases its corporation tax rate in line with other European countries?” BBC World Service “World Business Report” (mp3)
Newstalk interview with author of Ireland and the Global Question, Michael O’Sullivan
Chat with the author of Ireland and the Global Question about Ireland’s managed default. Listen!
US banks get new rules on property
From WSJ: “[US] banks have generally been keeping a lid on commercial real-estate losses by extending these mortgages upon maturity. However, that practice, billed by many industry observers as “extending and pretending,” has come under criticism by some analysts and investors as it promises to put off the pains into the future… Critics say the [...]
Nama: not fit for purpose
Last night’s Leviathan debate was an interesting one – despite the egg-throwing – and it showed even more clearly that Nama is not fit for its purpose and that the politicans have no idea what they are doing. They are truly making it up as they go along. Nama, according to its website, is an independent commerical [...]
Nobel Prize-winning economist says NO to Nama
Nama is a bad idea said Professor Joseph Stiglitz, a Nobel Prize-winning economist, on Wednesday night while addressing Trinity College’s historical society. Nama is likely to “burden this generation for 25 to 50 years or more. I am very uncomfortable with a government with such a minority support making such a decision.” The view that there is no alternative is “just [...]
A SIM game for Nama?
Remember the computer simulation game SimCity in the early 1990s? The objective of SimCity was to build and design a city either without specific goals or towards certain scenarios. The game allowed you to see what would happen in the future based on your specific choices and performance when playing. You also controlled the speed at which time passed. For example, if as [...]
Mansergh vs. Ward on BBC2 NI “Hearts and Minds”: Youtube
Martin Mansergh, junior minister for Finance, and I had a very lively discussion on the telly last night. We were, of course, talking about the economy. He was a nice man but he was completely unprepared. Our lovely interviewer Noel said we’d just have a nice discussion but it quickly turned into a row. I suggested [...]
Students’ advice for Irish government
Lectured some university students today in News Reporting and asked them to talk directly to the government – using Post-It notes. After class, I was going on BBC2 NI’s show Hearts and Minds as a guest along with Martin Mansergh. I told them I would give them to him after the show. It didn’t happen [...]
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