Economic Update: Yet More Big Bank Misdeeds

Updates on US sanctions against Putin’s aides; relative decline in US median disposable income; a stunning “accounting error” by Bank of America; and clever manipulation of US regulators by the 15 biggest US banks. Major discussions of declines in discount stores, reflecting an absence of mass recovery; and successes and growth of worker co-ops in Spain’s deep economic crisis. Response to listener question on reverse mortgages and declining quality of jobs in US.

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