Richard D. Wolff @ Guardian UK - Last week, federal court Judge James M Peck approved the final phase of the Lehman Brothers bankruptcy, which began with the investment bank's collapse on 15 September 2008. That bankruptcy, the largest in US history, precipitated the credit markets' disintegration that cascaded into the global economic meltdown that has deepened ever since. With roughly $450bn still owed by the bank, Judge Peck approved that Lehman Brothers has only $65bn left to settle creditors' claims. The latter must thus accept just over 14 cents for every dollar Lehman Brothers owed them. "Thieves," they are probably muttering. Read more.
The mayor of Paris, Anne Hidalgo, has announced she will run for president in next year’s election, joining a growing list of challengers to centrist incumbent Emmanuel Macron. Read more.