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Interview with Nobel Laureate Muhammad Yunus: 'Capitalism Has Degenerated into a Casino'

Nobel Peace Prize laureate Muhammad Yunus says that greed has destroyed the world's financial system. SPIEGEL ONLINE spoke with him about the profit motive, social consciousness and what should be done to end the financial crisis.

The New Socialism: Fed announces deal to take over ailing AIG

In a bid to save financial markets and economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined that a disorderly failure of AIG could hurt the already delicate financial markets and the economy.

Virtual Success for your Teenager

Trying to figure out how to teach your teen about capitalism? Believe it or not, the answer might be a video game.

'Suicide is Painless' fraudster turns himself in

Now wait a second...Where is Neal Boortz when you need him? Here is a example of fraud, waste, and crime in the private sector that we think can solve all of our problems. Somehow he will blame the hedge fund abuse, the Enron fraud and the Worldcom fraud on the evil government. Greed exists in capitalism as well and it tends to hurt a greater number of people than the waste that occurs in the government. Just about everyone's portfolio has been hurt by the Enron and Worldcom disaster. Pure capitalism will just allow the businessmen to take over and rape the nation. You can try but you can't legislate morality, people will waste money and make bad decisions regardless of the economic system.

Bad Cow Disease

Paul Krugman of the NYTimes suggests that, instead of getting government out of the way of capitalism RE: food and pharmaceutical regulations, we need to go back to the good-old days when the federal regulators charged with food and drug safety actually ensured that our food and drugs were safe.

Bill Gates touts 'creative capitalism' in Economic Forum speech

"I'm an optimist, but I'm an impatient optimist," he said to the standing-room-only crowd. "The world is not getting better fast enough, and it's not getting better for everyone."

Bill Gates Issues Call For Kinder Capitalism

Three weeks ago, on a flight home from a New Zealand vacation, Mr. Gates took out a yellow pad of paper and listed ideas about why capitalism, while so good for so many, is failing much of the world.

There is a housing bailout going on--but it’s not for you

The Federal Reserve announced another $20 billion in funds auctioned off to commercial banks today in order to help prop them up in the wake of the global mortgage meltdown. Especially telling is why the auction is working so well when previous attempts to throw cash out of helicopters inject liquidity into the market haven t worked so well...

Telecoms embrace the future of open wireless networks -- or do they?

USA Today got the scoop that AT&T is now publicizing the ability of customers to use any phone or any software they want on the AT&T network: "Starting immediately, AT&T customers can ditch their AT&T phones and use any wireless phone, device and software application from any maker think smartphones, e-mail and music downloading. And they don't have to sign a contract." This is certainly great news for any AT&T customer, but are things really as "open" as they seem?

Congress, candidates call credit card companies on the carpet

Just in time for the holiday season, the 110th Congress has renewed its push for credit card companies and lenders to clean up their act. Michigan Democrat Carl Levin, who sits on the Senate s Homeland Security and Gov t Affairs Committee, is chairing a hearing today on unfair credit card interest rate hikes, featuring three financial industry bigwigs against three undoubtedly angry consumers...

Will OpenSocial help Google reorganize into the first Galactic Empire?

The big news in the tech world this week was Google's unveiling of OpenSocial, a set of programming tools that will enable members of multiple social networks to share files and information across different platforms. Noticeably absent from the alliance supporting OpenSocial were the two 800-lb. gorillas of the social networking world...

Iraqi Civilians incl. Children Mutilated by Coalition

US troops... an airborne landing in the village of ash-Shabab north of Baghdad on Wednesday...the Americans killed five villagers in the raid and then mutilated their bodies. The witnesses added that the Americans then killed another youth in at-Tarimiyah and cut off his limbs...those Americans were implementing policy that involved systematic mutilation of their victims...recently abducted a woman from at-Tarimiyah after imprisoning another woman from ad-Dulu iyah north of Baghdad.

Millions of toxic toys recalled: The nightmarish reality of global capitalism

The world s largest toy maker, Mattel Corporation, announced August 14 that it was recalling nearly 19 million toys worldwide, half of them in the US, because of the dangers they pose to children. Some 436,000 toy cars made in China were withdrawn because they are covered in lead paint, while more than 18,000,000 other toys, also made in China, are being recalled because they contain small, powerful magnets that could do great damage if swallowed.

Decarbonizing the carbon economy

...Not only is the carbon economy directly causing global heating, it is also responsible for the oil dependency that has led to the decay of the United States' national authority. The only way forward out of our morass is...

California jails offer cell upgrades — for the right price

For offenders whose crimes are usually relatively minor (carjackers should not bother) and whose bank accounts remain lofty, a dozen or so city jails across the state offer pay-to-stay upgrades. Theirs are a clean, quiet, if not exactly sought-after, alternative to the standard county jails, where the walls are bars, the fellow inmates are hardened and privileges are few.