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DBS to inject emergency funds into CDO instrument
By : Singapore - Wednesday August 29, 2007
DBS to inject emergency funds into CDO instrument Tuesday, August 28, 2007 HONG KONG: DBS, Singapore’s largest bank, said Monday that it would provide emergency liquidity for an asset-backed financial instrument worth 1.4 billion Singapore dollars after investors withdrew support due to volatile credit markets, making it the latest Asian bank to declare unexpected exposure to the U.S. subprime mortgage crisis. DBS said in a statement that it had not previously defined its (...)
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Iraqi insurgents taking cut of U.S. rebuilding money
By : Hannah Allam - Tuesday August 28, 2007
4 comments
Iraqi insurgents taking cut of U.S. rebuilding money Hannah Allam | McClatchy Newspapers last updated: August 26, 2007 10:59:35 PM BAGHDAD — Iraq’s deadly insurgent groups have financed their war against U.S. troops in part with hundreds of thousands of dollars in U.S. rebuilding funds that they’ve extorted from Iraqi contractors in Anbar province. The payments, in return for the insurgents’ allowing supplies to move and construction work to begin, have taken (...)
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BILLIONS IN PUT OPTIONS BETTING THAT THE MARKET WILL CRASH BY 9-21
By : Einer Für Alle, Alle Für Einen - Monday August 27, 2007
3 comments
You can see why banks are running scared...they know the bottom can fall out at any moment. I’d suggest keeping minimal deposits in banks and holding on to cash. ANOTHER HUGE SALE OF OPTION CONTRACTS Date: Fri, 24 Aug 2007 19:43:25 GMT Good Morning Everyone, OTHER THAN THE EXPECTED FINANCIAL ANNOUNCEMENTS, ANYBODY HAVE A CLUE AS TO WHAT THESE ’INVESTORS’ ARE EXPECTING? **************************************************************** THEY DID IT AGAIN. . . . ANOTHER (...)
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DADDY, WHERE DOES MONEY COME FROM?
By : Carolyn Baker - Saturday August 25, 2007
2 comments
by Carolyn Baker The U.S. government is on a ’burning platform’ of unsustainable policies and practices. David Walker, U.S. Comptroller General Anyone who hasn’t watched "Money As Debt," an animated DVD by Paul Grignon, should consider purchasing this extraordinary explanation of money’s origin in an economy totally dependent on debt. Almost everyone has seen footage of federal printing presses cranking out paper money, and some of us have even visited a (...)
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FED bends rules to help two big banks
By : Einer Für Alle, Alle Für Einen - Saturday August 25, 2007
2 comments
If the Federal Reserve is waiving a fundamental principle in banking regulation, the credit crunch must still be sapping the strength of America’s biggest banks. Fortune’s Peter Eavis documents an unusual Fed move. FORTUNE Magazine By Peter Eavis, Fortune writer NEW YORK (Fortune) — In a clear sign that the credit crunch is still affecting the nation’s largest financial institutions, the Federal Reserve agreed this week to bend key banking regulations to help out (...)
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THE JOYRIDE THAT WAS THE AMERICAN EMPIRE
By : Carolyn Baker - Friday August 24, 2007
1 comment
By Carolyn Baker A few days ago a friend called me just after hearing Michael Panzner on the Thom Hartmann show on Air America. My friend wanted me to read Panzer’s book, Financial Armageddon and see what I thought. Apparently, Panzer’s radio interview remarks were filled with passion and a sense of urgency, and upon reading the book, I experienced the same intensity in the author’s writing which pleasantly surprised me. Here was a financial guru with 25 years’ (...)
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Job losses spike as US mortgage firms feel downturn
By : WASHINGTON - Thursday August 23, 2007
1 comment
Job losses spike as US mortgage firms feel downturn 08-22-2007, 17h43 WASHINGTON A foreclosure sign sits in front of a home, March 2007 in Miami. Mortgage industry layoffs rose Wednesday and have jumped dramatically of late as surging home foreclosures and a credit squeeze force home lenders across America to scale back business. Mortgage industry layoffs rose Wednesday and have jumped dramatically of late as surging home foreclosures and a credit squeeze force home lenders across (...)
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Put moratorium on foreclosures, state consumer coalition advises
By : Steve Lawrence - Wednesday August 22, 2007
Put moratorium on foreclosures, state consumer coalition advises By Steve Lawrence August 22, 2007 SACRAMENTO – Consumer advocates yesterday called for a moratorium on home foreclosures, warning that California is facing a tidal wave of foreclosures over the next year as more homeowners are hit with payment increases brought on by subprime loans and risky mortgages. “The curve is really starting to go up,” said Alan Fisher, executive director of the California (...)
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CLASS ACTION SUIT AGAINST COUNTRYWIDE FINANCIAL CORPORATION:
By : LERACH COUGHLIN - Wednesday August 22, 2007
CLASS ACTION SUIT AGAINST COUNTRYWIDE FINANCIAL CORPORATION: Join this Action LERACH COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP FILES CLASS ACTION SUIT AGAINST COUNTRYWIDE FINANCIAL CORPORATION August 20, 2007 – Lerach Coughlin Stoia Geller Rudman & Robbins LLP (“Lerach Coughlin”) http://www.lerachlaw.com/cases/coun... today announced that a class action has been commenced in the United States District Court for the Central District of California on behalf (...)
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Top Swiss banker attacks US lending standards as ’unbelievable’
By : Einer Für Alle, Alle Für Einen - Monday August 20, 2007
By Ambrose Evans-Pritchard and Yvette Essen Switzerland’s top banker has warned of massive losses from the unfolding credit crisis, describing the collapse in US lending standards as "unbelievable". Jean-Pierre Roth, president of the Swiss National Bank, said market turmoil was far from over as tremors from the sub-prime debacle continued to rock the world. "We’re certainly not at the end of the story. There are question marks surrounding the development of the American (...)
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DO YOU KNOW ABOUT THE SECURITY AND PROSPERITY PARTNERSHIP AGREEMENT?
By : newsocialist - Monday August 20, 2007
1 comment
“SPP has three fundamental objectives.to create more advantageous conditions for transnational corporations and remove remaining barriers to the flow of capital and crossborder production within the framework of NAFTA. It wants to secure access to natural resources, especially oil. And it wants to create a regional security plan based on “pushing its borders out” into a security perimeter that includes Mexico and Canada.”- Laura Carlsen, International Relations (...)
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Bloody and Bloodier - The subprime-lending crisis is worse than you think
By : Einer Für Alle, Alle Für Einen - Friday August 17, 2007
3 comments
Bloody and Bloodier The subprime-lending crisis is worse than you think, and could crush financial and real-estate markets for years. By James J. Cramer You’re losing money right now. This very minute. You’re losing money if you own an apartment. You’re losing money if you own a country home. You’re losing money if you own a stock or bond mutual fund. You’re losing money if you have a pension plan. You’re probably losing money here or there, (...)
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The Unraveling
By : Daveparts - Thursday August 16, 2007
7 comments
By David Glenn Cox The unraveling has begun, watching the talking heads the only thing they seem to agree on is the money being pumped in by central banks around the world isn’t getting to where it needs to go. That’s an easy one, everyone wants to help the leper’s but no one wants to go do it personally. But for George Herbert Hoover Bush this is his moment in the sun, his hour of redemption. During hurricane Katrina Bush was accused of ignoring the suffering of the (...)
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Sr. Financial Mgr sees ultimately a "Very big collapse of all financial mkts" and hyperinflation!
By : Einer Für Alle, Alle Für Einen - Thursday August 16, 2007
Asian indices dropped sharply early today after reports of liquidating hedge funds caused more credit market-related anxiety and triggered a sell-off on Wall Street. Financial shares across the region were hit hard, with losses in banking issues such as Mitsubishi UFJ Financial Group and Mizuho Financial Group in Japan. read more : http://www.moneycontrol.com/india/n... Video : http://www.moneycontrol.com/news/vi... (...)
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Iran demands oil pay in yen not dollars
By : Einer Für Alle, Alle Für Einen - Thursday August 16, 2007
2 comments
By Robert Lindsay The dollar fell against the yen this afternoon on reports Iran has asked Japan to stop paying for its oil in dollars The dollar was driven down against the Japanese yen this afternoon, hit by the news that Iran had asked Japan to pay for its oil purchases in the Japanese currency and not in dollars. Iran has sent a letter to Japanese refiners, signed by Ali A Arshi, the general manager of crude marketing and exports for Iran’s national Iranian Oil Company, (...)
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Financial Crash in Second Life too
By : Einer Für Alle, Alle Für Einen - Thursday August 16, 2007
Now that the 18,000 Ginko Financial clients have been left in the cold it is ever more clear that there is a financial crisis in Second Life. Real estate values are plunging as are the number of premium accounts. Do not forget about the funds stolen from the stock exchange. It is clear that there is a large amount of corruption in Second Life still. http://www.secondlifeupdate.com/200...
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Is the Perfect Storm Forming for Ron Paul?
By : Einer Für Alle, Alle Für Einen - Wednesday August 15, 2007
3 comments
Is the Perfect Storm Forming for Ron Paul? by Murray Sabrin What a week! The stock market took a dive to just over 13,000 on the Dow Jones Industrial Average from an all-time high of 14,000 less than a month ago. The world’s major central banks flooded the financial system with tens of billions of dollars to prop up the banks and the mortgage market. Meanwhile, the unending wars in Afghanistan and Iraq continue to drain the U.S. military; the bills for the Bush-Cheney invasion of (...)
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WHAT DOES "FED PUMPS $68 BILLION INTO BANKING SYSTEM" ACTUALLY MEAN?
By : Einer Für Alle, Alle Für Einen - Tuesday August 14, 2007
PART 1 of 2 By: Devvy August 13, 2007 http://newswithviews.com/Devvy/kidd... Last week saw a bucking bronco ride in the stock market. The American people read headlines such as: Fed vows, then pumps massive funds to calm markets and Fed’s $38 billion helps markets. I have written many columns the past several years as have hundreds of others warning of the coming financial tsunami. Far too many people scoffed at all the warnings, continued to rack up massive debt and pursued the (...)
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FED looses control on US interest rates and crisis reaches China and EU
By : Einer Für Alle, Alle Für Einen - Monday August 13, 2007
1 comment
FED looses control on US interest rates and crisis reaches China and EU GEAB N°16 is available! Global systemic crisis / Summer 2007 : Fed looses control on US interest rates and crisis reaches China and EU Public announcement GEAB N°16 (Special Summer 2007 issue - 23 pages!) This second quarter’s fundamental event about to shove most players’ anticipations over the coming months, is certainly the final and simultaneous failure of the two key-strategies defined by US leaders, (...)
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The Insolvency Crisis: How we got here, and what to expect
By : Einer Für Alle, Alle Für Einen - Sunday August 12, 2007
Written by Garrett Johnson “For these ten marks I sold my virtue.” - written on the back of German banknote, 1923 The news of the Federal Reserve injecting $38 billion into the mortgage-backed securities market didn’t get a lot of attention yesterday, but it should have. Since a third injection is unprecedented, as such infusions typically only occur during a crisis, investors are again left wondering just how bad the subprime situation is and questioning whether (...)
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DAZIBAO
I, European citizen, won’t let refugees be rejected in my name
Thursday 10 March
©Olivier Jobard/Myop I, European citizen, won’t let refugees be rejected in my name THE RIGHT TO ASYLUM IS A RIGHT In the phrase « right to asylum », every word matters. Under the law, every person who is persecuted because of his or her political opinions or because of his or her identity, every person that is endangered by violence, war or misery has a RIGHT to seek asylum in another country The aim of this petition is to collect (...)
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Neo-Nazis and far-right protesters in Ukraine 3 live-stream
Friday 24 January
2 comments
The far-right in Ukraine are acting as the vanguard of a protest movement that is being reported as pro-democracy. The situation on the ground is not as simple as pro-EU and trade versus pro-Putin and Russian hegemony in the region. When US Senator John McCain dined with Ukraine’s opposition leaders in December, he shared a table and later a stage with the leader of the extreme far-right Svoboda party Oleh Tyahnybok. This is Oleh Tyahnybok, he has claimed a "Moscow-Jewish mafia" (...)
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Hugo Chavez is dead (video live)
Wednesday 6 March
by : Collective BELLACIAO
1 comment
President Hugo Chavez companeros venezueliano died after a long battle with cancer.
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International initiative to stop the war in Syria Yes to democracy, no to foreign intervention!
Thursday 13 December
Your support here: http://www.peaceinsyria.org/support.php We, the undersigned, who are part of an international civil society increasingly worried about the awful bloodshed of the Syrian people, are supporting a political initiative based on the results of a fact-finding mission which some of our colleagues undertook to Beirut and Damascus in September 2012. This initiative consists in calling for a delegation of highranking personalities and public figures to go to Syria in order to (...)
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THE KU KLUX KLAN ONCE AGAIN CONTROLS INDIANA
Monday 12 November
by : David R. Hoffman, Legal Editor of Pravda.Ru
7 comments
At first glance, the results of America’s 2012 election appear to be a triumph for social, racial, and economic justice and progress in the United States: California voters passed a proposition requiring the rich to shoulder their fair share of the tax burden; Two states, Colorado and Washington, legalized the recreational use of marijuana, while Massachusetts approved the use of marijuana for medical purposes; Washington and two other states, Maine and Maryland, legalized same-sex (...)
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I’VE DECIDED TO "WASTE" MY VOTE
Sunday 28 October
by : David R. Hoffman, Legal Editor of Pravda.Ru
In a 2004 episode of Comedy Central’s animated series South Park, an election was held to determine whether the new mascot for the town’s elementary school would be a “giant douche” or a “turd sandwich.” Confronted with these two equally unpalatable choices, one child, Stan Marsh, refused to vote at all, which resulted in his ostracization and subsequent banishment from the town. Although this satirical vulgarity was intended as a commentary on the two (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART IV
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART II PART III If there is one major inconsistency in life, it is that young people who know little more than family, friends and school are suddenly, at the age of eighteen, supposed to decide what they want to do for the rest of their lives. Unfortunately, because of their limited life experiences, the illusions they have about certain occupations do not always comport to the realities. I discovered this the first time I went to college. About a year into my studies, I (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART III
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART II PART IV Disillusioned with the machinations of so-called “traditional” colleges, I became an adjunct instructor at several “for-profit” colleges. Thanks largely to the power and pervasiveness of the Internet, “for-profit” colleges (hereinafter for-profits) have become a growing phenomenon in America. They have also been the subject of much political debate and the focus of a Frontline special entitled College Inc. Unlike traditional (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART II
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART III PART IV Several years ago, a young lady came into the college where I was teaching to inquire about a full-time instructor’s position in the sociology department. She was advised that only adjunct positions were available. Her response was, “No thanks. Once an adjunct, always an adjunct.” Her words still echo in my mind. Even as colleges and universities raise their tuition costs, they are relying more and more on adjunct instructors. Adjuncts are (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART I
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART II PART III PART IV When The Bill of Rights was added to the United States Constitution over two hundred years ago, Americans were blessed with many rights considered to be “fundamental.” One conspicuously missing, however, was the right to an education. This was not surprising given the tenor of the times. America was primarily an agrarian culture, and education, especially higher education, was viewed as a privilege reserved for the children of the rich and (...)
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ONE SOLITARY LIFE, PART TWO
Monday 30 July
by : David R. Hoffman, Legal Editor of Pravda.Ru
3 comments
If there is one universal question that haunts all human beings at some point in their lives, it is, “Why do we die?” Death, after all, is the great illogic. It ultimately claims all, the rich and the poor, the mighty and the small, the good and the evil. Death also has the capability to make most human pursuits—such as the quest for wealth, fame and power—vacuous and fleeting. Given this reality, I have often wondered why so many people are still willing to (...)
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HOW MUCH CORRUPTION CAN DEMOCRACY ENDURE?
Thursday 28 June
by : David R. Hoffman, Legal Editor of Pravda.Ru
6 comments
How much corruption can a “democracy” endure before it ceases to be a democracy? If five venal, mendacious, duplicitous, amoral, biased and (dare I say it) satanic Supreme Court “justices”—John Roberts, Samuel Alito, Antonin Scalia, Clarence Thomas and Anthony Kennedy—have their way, America will soon find out. In several previous articles for Pravda.Ru, I have consistently warned how the Supreme Court’s 2010 Citizens United decision is one of the (...)
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DEMOCRACY IN THE HANDS OF IDIOTS, PART TWO
Tuesday 12 June
by : David R. Hoffman, Legal Editor of Pravda.Ru
1 comment
Imagine, if you will, that the United States government passes a law banning advertisers from sponsoring commercials on Rush Limbaugh’s radio show or Rupert Murdoch’s Fox (Faux) “News” Network. On one hand, there would be two decided advantages to this ban: The National IQ would undoubtedly increase several percentage points, and manipulative pseudo-journalists would no longer be able to appeal to the basest instincts in human nature for ratings and profit while (...)
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DEMOCRACY IN THE HANDS OF IDIOTS
Thursday 7 June
by : David R. Hoffman, Pravda.Ru Legal Editor
4 comments
LIVE, from the State that brought you Senator Joseph McCarthy, Wisconsin voters now proudly present, fresh from his recall election victory, Governor Scott Walker! At first glance, it is almost unfathomable that anyone with a modicum of intelligence would have voted to retain Scott Walker as Wisconsin’s governor. This, after all, is a man who openly declared he is trying to destroy the rights of workers through a “divide and conquer” strategy; who received 61% of the (...)
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PEOPLE WITHOUT SOULS
Tuesday 13 March
by : David R. Hoffman, Legal Editor of Pravda.Ru
2 comments
A question I’ve frequently been asked since I began writing for Pravda.Ru in 2003 is, “Why did you become disillusioned with the practice of law?” This question is understandable, particularly since, in most people’s minds, being an attorney is synonymous with wealth and political power. I’ve always been reluctant to answer this question for fear it will discourage conscientious and ethical people from pursuing careers in the legal profession—a (...)
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