NO AMNESTY FOR WALL STREET!
September 29th, 2008 . by adminVirtually our entire financial system is based on an illusion. We spend more than we earn, we consume more than we produce, we borrow more than we save, and we cling to the fantasy that this can go on forever. The glue that holds this crumbling scheme together is a fiat currency created out of thin air known as the Federal Reserve Note.
Sphere: Related ContentFed keeps banks afloat as money market crisis deepens
September 26th, 2008 . by adminU.S. banks and money managers borrowed a record amount from the Federal Reserve in the latest week, 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.
Sphere: Related ContentHOUSE PASSES $25B FOR CAR MAKERS
September 25th, 2008 . by adminThe House of Representatives on Wednesday approved a $25bn package of low-cost loans to help hard-pressed carmakers and their suppliers finance plant modernisation at a time of restricted access to public capital markets
Sphere: Related ContentLet’s Play Wall St ‘Bail Out’ — NOT!
September 24th, 2008 . by adminRep Kapture rocks the house again!: ‘Lets play Wall Street Bailout!!!’
September 22, 2008 C-SPAN
Ron paul: Bailouts will lead to rough economic ride
September 23rd, 2008 . by admin“…governmental measures, combined with the Federal Reserve’s loose monetary policy, led to an unsustainable housing boom. The key measure by which the Fed caused this boom was through the manipulation of interest rates, and the open market operations that accompany this lowering.”
Sphere: Related ContentUN chief calls for ‘global leadership’
September 23rd, 2008 . by adminUN chief Ban Ki-moon on Tuesday stressed the need for “global leadership” as he pressed world leaders not to pursue narrow national interests in the face of hard economic times. “I see a danger of nations looking more inward, rather than toward a shared future,” he said at the opening of the UN General Assembly’s annual debate.
Sphere: Related ContentPentagon budget, disaster aid bill written in secret
September 23rd, 2008 . by adminCongress is scrambling to pass the Pentagon budget, aid for flood and hurricane victims and $25 billion in loans for Detroit automakers. The legislation is coming together in a remarkably secretive process in which decisions are concentrated in the hands of just a few lawmakers such as Nancy Pelosi, Harry Reid & David Obey
Sphere: Related ContentEuropeans on left and right ridicule U.S. money meltdown
September 22nd, 2008 . by adminThey list greed and Greenspan among the culprits, and there are comparisons to . . . Albania. But amid the gloating, there is fear for financial systems in Britain, Spain, Italy and elsewhere.
Sphere: Related ContentFury at $2.5bn bonus for Lehman’s New York staff
September 22nd, 2008 . by adminUp to 10,000 staff at the New York office of the bankrupt investment bank Lehman Brothers will share a bonus pool set aside for them that is worth $2.5bn, Barclays Bank, which is buying the business, confirmed last night.
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