From Crisis to Collapse: US Banks on the Brink
May 5, 2023
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1:41:15Now PlayingFrom Crisis to Collapse: US Banks on the Brink
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as posted by the channelOn The Freedom Side LIVE, Thursday 05/04 at 3pm ET/12pm PT, tune in to hear:
First Republic Bank became the second largest bank to fail in the US on Monday, and the third bank to do so since March. The Federal Reserve's increase in interest rates led to the bank's collapse, and it was subsequently seized by the government and sold to JPMorgan Chase. Chris Caruso from the Kairos Center for Religions, Rights & Social Justice discusses how the Federal Reserve is intentionally implementing policies that lead to more bank failures and runs.
Over 340,000 United Parcel Service (UPS) workers are preparing for a strike as they hold contract negotiations with the company. The contract between the Teamsters and UPS is the largest private-sector collective bargaining agreement in the US and the strike has the potential to be the most significant of its kind in over 25 years. Mike Kramer, Labor organizer and Executive Vice President of UNITE HERE Local 26 discusses the upcoming showdown and the labor upsurge of recent years.
Instead of helping to resolve the monetary crisis, the International Monetary Fund (IMF) traps countries in cycles of debt and instability. Grieve Chelwa, Director of Research, Institute on Race, Power & Political Economy at The New School, explains how countries of the Global South are forced to go to the IMF for aid over and over again.
YouTube Music contract workers voted overwhelmingly in favor of unionizing and joining the Alphabet Workers Union-CWA, which represents all Alphabet- and Google-affiliated workers who choose to organize. Katie Marschner, Labor organizer and Executive Vice President of UNITE HERE Local 26, explains the significant implications of the labor victory for Google and tech workers.
For over 60 years, the US has blocked resources like food, fuel and medicine from entering Cuba, making it the world’s longest blockade in modern history. Phillip Agnew, Organizer with Black Men Build, who recently participated in a solidarity brigade to Cuba, discusses the US’s ongoing siege against the country and the urgent demand to lift the blockade.
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