Trouble in Banktopia
By Mike Whitney
27/09/08 "ICH" — - The financial system is blowing up. Don’t listen to the experts; just look at the numbers. Last week, according to Reuters, "U.S. banks borrowed a record amount from the Federal Reserve nearly $188 billion a day on average, showing the central bank went to extremes to keep the banking system afloat amid the biggest financial crisis since the Great Depression." The Fed opened the various "auction facilities" to create the (...)
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Trouble in Banktopia
30 September 2008 par (Open-Publishing)
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You won’t believe where that $700-billion bailout figure came from
30 September 2008 par (Open-Publishing)
"It’s not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."
Here’s something that John McCain and Barack Obama and Sarah Palin and even longtime Washingtonian Joe Biden probably don’t know. Not to mention Bob Barr, Ralph Nader and Ron Paul, who usually knows everything.
It’s a fascinating footnote to the economic and political bailout debate that’s kept so many people from more properly focusing on the (...) -
Pelosi Pushed Book, While Taxpayers Revolted Over Bailout
30 September 2008 par (Open-Publishing)
1 comment“The bailout is...economically foolish...downright sinister [and] makes a mockery of our Constitution.” - Rep. Ron Paul (R-TX)
On Sept. 29, 2008, the House of Representatives, responding to a taxpayers’ revolt, rejected the $700 billion bailout of the greedy Wall Street bankers. Meanwhile, on Sept. 23, 2008, House Speaker Nancy Pelosi was in Baltimore, MD, to give a talk at the central library hawking her book, “Know Your Power.” At that point, the Congress was still debating the (...) -
Gloating is not enough!
30 September 2008 par (Open-Publishing)
Gloating is not enough!
"That’s a pound business. Take a risky huge amount of money on your cap, let yourself well for the risk and if you pay so that the dodo actually go and wages should, be sure you first, your commissions on the safe side searched and secondly the government instead of your own at the expense of the rest of the population nachschießt the open items and provides you free. " Very freely after Daniel Amerman, in http://www.FinancialSense.com (on 10.9.2008). And exactly (...) -
The US and global financial crisis is becoming much more severe in spite of the Treasury rescue plan
29 September 2008 par (Open-Publishing)
The US and global financial crisis is becoming much more severe in spite of the Treasury rescue plan. The risk of a total systemic meltdown is now as high as ever
Nouriel Roubini | Sep 29, 2008
It is obvious that the current financial crisis is becoming more severe in spite of the Treasury rescue plan (or maybe because of it as this plan it totally flawed). The severe strains in financial markets (money markets, credit markets, stock markets, CDS and derivative markets) are becoming (...) -
$612 billion defense bill passed in midst of $700 billion Wall Street bail out
29 September 2008 par (Open-Publishing)
On Wednesday, September 24, right in the middle of the fight over billions of taxpayer dollars slated to bail out Wall Street, the House of Representatives passed a $612 billion defense authorization bill for 2009 without a murmur of public protest or any meaningful press comment at all. (The New York Times gave the matter only three short paragraphs buried in a story about another appropriations measure.)
We have the money By Chalmers Johnson Sep 30, 2008
There has been much (...) -
Bailout foes hold day of protests
27 September 2008 par (Open-Publishing)
Bailout foes hold day of protests
September 26th, 2008 1:38 am
Grassroots groups and online activists rally against the proposed taxpayer rescue of Wall Street.
NEW YORK (CNNMoney.com) — The public backlash against the Bush administration’s proposal to use tax dollars to bailout Wall Street spilled into the streets Thursday.
"People all over the country are up in arms about this," said David Elliot, a spokesman for grassroots advocacy group UsAction. "Our members are livid, and (...) -
$700Bn for a temporary fix??? NOT!!!
25 September 2008 par (Open-Publishing)
1 commentIf we do what Bushcrew is proposing, this problem will just come back to haunt us all again in a few months and be even WORSE.
The real problem with the economy is that its primary driver - the middle class - is out of money to squeeze.
Everyone has been sqeezing and squeezing until the middle class has been bled dry - it’s just that many haven’t figured that out yet. They still have a little room on the credit cards, or they bought their house 15 or 20 years ago - but done the way (...) -
More than a financial crisis: The age of misfortune
23 September 2008 par (Open-Publishing)
More than a financial crisis: The age of misfortune
By Frank Schirrmacher
18th September 2008 Stefan Zweig about the time before the First World War: "The years of security." Auden on the inter-war period: "The Age of Anxiety." Is perhaps the time for a new time has come?
It should be Warren Buffett large set of the "weapons of mass destruction on the financial markets today quite literally: morally, politically and historically. You have to just watch how the parties to the (...) -
A Nation of Masochists
22 September 2008 par (Open-Publishing)
"I send my tormentor hurrying hither and thither in the service of my suffering and desire." Mason Cooley (d.2002)
I have concluded that Americans, who pretend in public to be straightlaced, are in fact rabid masochists addicted to whips, black leather and the application of fists. It turns out that large numbers of people throughout the world are accidentally asphyxiated every year because they need to be chocked for maximum pleasure.
The diagnosis of national masochism is the (...)