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5 stories you should not have missed on the web this week
The Crisis of European Democracy; Heist of the century: Wall Street's role in the financial crisis; Google's Secret Weapon for Social; Your Photos; The Most Indebted Countries; Facebook Ownership Structure Should Scare Investors More Than Botched IPO.
May 24, 2012 5:45 by kippreport
If proof were needed of the maxim that the road to hell is paved with good intentions, the economic crisis in Europe provides it. The worthy but narrow intentions of the European Union’s policy makers have been inadequate for a sound European economy and have produced instead a world of misery, chaos and confusion.
Wall Street bankers could have averted the global financial crisis, so why didn’t they? In this exclusive extract from his book Inside Job, Charles Ferguson argues that they should be prosecuted.
Somehow Trey Ratcliff must have missed the memo. Google+ is supposed to be a ghost town, if you believe numerous stories published over the past couple of months, but Ratcliff has been using the social network extensively to connect with fans and photo geeks alike. He is hosting Hangouts about photography, sharing his latest pictures with his more than 2 million followers, and meeting people all over the world for real-life events.
With all the talk of Greece’s impending exit from the euro zone, debt is once again in the headlines. Greece’s massive public sector debt, coupled with its inability to devalue its currency, has put the country at risk of default. But the global economy is straining under the weight of more than just public sector debt.
For all the huffing and puffing and blown around houses associated with Facebook’s ugly IPO, there’s a looming problem associated with the company that’s getting lost in the mix. That’s a pity, because over the next few years it promises to have a more profound influence over the fortunes of Facebook investors than anything else.