Wednesday, December 31, 2008

Rep. Dr. Ron Paul Asks Bernanke If U.S. Is Moving To Fascism

In finance committee session, Lawmaker Dr. Ron Paul asked Chmn. Ben Shalom Bernanke of the Delaware private corporation central banking cartel monopoly setting US monetary policy, The Federal Reserve Banks, if the U.S. is moving towards Fascism, aka national socialism. Bernanke said yes, we are already a fascist state, always the plan since 1913.

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Tuesday, December 30, 2008

Cheny Protected By Executive Privilege In Plame Affair

The president may assert executive privilege to withhold from Congress records of an FBI interview with Vice President Dick Cheney regarding the leak of CIA agent Valerie Plame's identity, the attorney general concludes in a legal opinion released Monday.

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More economic troubles.

Bankruptcies, Store Closings Loom at Retailers Amid Holiday Debacle...

CHANEL lays off staff as crunch hits lux brands...

Congress Plans Madoff Hearings...

IMF economist warns of “Great Depression”: The top economist at the International Monetary Fund, Olivier Blanchard, warned earlier this week that continued declines in consumer spending would set off a global depression. "Consumer and business confidence indexes have never fallen so far since they began. The coming months will be very bad," he told the French newspaper Le Monde, as reported by Agence France-Presse.

Holiday Sales Drop to Force Bankruptcies, Closing: U.S. retailers face a wave of store closings, bankruptcies and takeovers starting next month as holiday sales are shaping up to be the worst in 40 years.

Cash-strapped states cut juvenile justice programs: State budget cuts are forcing some of the nation's youngest criminals out of counseling programs and group homes and into juvenile prisons in what critics contend is a shortsighted move that will eventually lead to more crime and higher costs.

Cash-strapped states weigh selling roads, parks: Minnesota is deep in the hole financially, but the state still owns a premier golf resort, a sprawling amateur sports complex, a big airport, a major zoo and land holdings the size of the Central American country of Belize.

Fallout Starts After 'Horrific' Holiday Retail Season

The Wall St Ponzi Scheme - Fractional Reserve Banking

Oil, Gold Sharply Higher On Gaza Killing

UK Backs Face $100B Commercial Prop Bomb

Ruble In Trouble

Recession To Cost Britain 1 Million Jobs

Low Oil Prices Force Russia To Devalues Ruble

The Shadow Money Lenders

Madoff May Have Stashed Cash Offshore (Nah...)

Comprehensive List Of Madoff Victims

Only Full Disclosure Of Toxic Debt Will Work

Madoff Probe Focuses On Tax Havens

Demand For Oil Tol Drop Most In 25 Yrs

2008 Can Become Worst Ever For Wall St

Bargain Shopper Fail To Save Retail Season

US Shopping Season Worst In Over 40 Years

GM Becomes Bank To Get On Gravy Train

32,000 UK Realtor Jobs Wiped Out

Doubts Grow Over Barky's Giant Spending Promises

Economy On Edge - Japan Faces Deflation

Retailers Foresee Dire 2009

Monday, December 29, 2008

More economic troubles.

Stimulus: $6 million to make snow -- in Minnesota?

FINAL WEEK: Wall St. faces record losses in 2008...
Chicago's newspapers facing troubled futures...
Music industry looks to internet for revival...

SAYING YES TO ANYONE, WAMU BUILT EMPIRE ON SHAKY LOANS...

The Federal Reserve Abolition Act

By Stephen Lendman

It worried Thomas Jefferson enough to call banking institutions "more dangerous to our liberties than standing armies" at a much simpler time in our history. The right to create and control money belongs to the people through their elected representatives. For the past 95 years, powerful bankers accountable to no one have had it. They effectively run the country (and own it), and unless We the People change things, we'll continue to be victimized by economic tyranny and the eventual political kind that's coming. Continue


Chávez: Capitalists Have Manipulated the Message of Christ to Exploit the Poor

By Venezolana de Televisión

"The Kingdom of Heaven is not a kingdom or life in the clouds. Either it exists here or else it exists nowhere," President Chávez issued a wake-up call during the last Sunday program of 2008. " Continue

25% of Retailers May Go Bankrupt: Analysts estimate that from about 10% to 26% of all retailers are in financial distress and in danger of filing for Chapter 11. AlixPartners LLP, a Michigan-based turnaround consulting firm, estimates that 25.8% of 182 large retailers it tracks are at significant risk of filing for bankruptcy or facing financial distress in 2009 or 2010.

Low Oil Prices Force Russia To Devalues Ruble

The Shadow Money Lenders

Madoff May Have Stashed Cash Offshore (Nah...)

Comprehensive List Of Madoff Victims

Only Full Disclosure Of Toxic Debt Will Work

Madoff Probe Focuses On Tax Havens

Demand For Oil Tol Drop Most In 25 Yrs

2008 Can Become Worst Ever For Wall St

Bargain Shopper Fail To Save Retail Season

US Shopping Season Worst In Over 40 Years

GM Becomes Bank To Get On Gravy Train

32,000 UK Realtor Jobs Wiped Out

Doubts Grow Over Barky's Giant Spending Promises

Economy On Edge - Japan Faces Deflation

Retailers Foresee Dire 2009

Sunday, December 28, 2008

Ron Paul: Economic crisis may be a blessing (12/27/08)

In an interview with press TV, Ron Paul states that he believes Obama intends to continue the neocon foreign policies of intervention, but suggests that b/c of the economic crisis, the US may be forced to abandon such policies, in much the same way the Soviets were forced to abandon Afghanistan. Paul also discusses his bill to end the Fed.

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2008 Could Be Worst Year Ever for Wall Street

As the stock market heads into the last week of the year, what was inconceivable just 12 months ago is now a stark possibility: 2008 could be the worst year ever for Wall Street.

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Cash-Strapped States Contemplate Selling Off Roads & Parks

Minnesota is deep in the hole financially, but the state still owns a premier golf resort, a sprawling amateur sports complex, a big airport, a major zoo and land holdings the size of the Central American country of Belize.

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Autoworkers Union Keeps $6 Million Golf Course for Members at $33 Million Lakeside Retreat...
Retailers Want In on Stimulus Plan...

Sales Plummet; Discounts Don't Revive Holiday Spending; High-End Walloped...

2008 Can Become Worst Ever For Wall St

Bargain Shopper Fail To Save Retail Season

US Shopping Season Worst In Over 40 Years

GM Becomes Bank To Get On Gravy Train

32,000 UK Realtor Jobs Wiped Out

Doubts Grow Over Barky's Giant Spending Promises

Economy On Edge - Japan Faces Deflation

Retailers Foresee Dire 2009

Saturday, December 27, 2008

Autoworkers Union Keeps $6 Million Golf Course for Members a

Even as the industry struggles with massive losses, the autoworker union's bosses continue to own and operate a $33 million lakeside retreat in Michigan, complete with a $6.4 million designer golf course � and it's costing them millions each year.

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The Great Crash 2008:Geopolitical Set Back for the US & EU.

The financial & economic crash of 2008,the worst in over 75 years,is a major geopolitical set back for the US & Europe.The US & the EU will have neither the resources nor the economic credibility to play the same leading role in global affairs.The crisis will accelerate trends that are shifting the world's center of gravity away from the US.

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Federal Reserve is worth its weight in gold

Amid these troubled economic times, a trip to the central bank is an eye-opening glimpse into the world of currency. Plus, don't you want to see the big vault?

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More economic troubles.

Germany resists calls to spend its way out of trouble...

Autoworkers Union Keeps $6 Million Golf Course for Members at $33 Million Lakeside Retreat...
Retailers Want In on Stimulus Plan...

Sales Plummet; Discounts Don't Revive Holiday Spending; High-End Walloped...

Justice For Mr. Madoff?
All Right, But Just This Once."

By Dave Parts

The victims go after other victims? The perpetrator sits in his town home, living as a king in exile, and the investors must fight each other over the scraps? It is beyond absurd. Continue

Japan output data casts more gloom: The figures released on Friday shows Japanese industrial production slumped more than eight per cent in November from the month before, the biggest fall on record.

U.S. Economy: Home Prices Fall Near Depression Pace: Sales of single-family houses in the U.S. dropped in November by the most in two decades and resale prices collapsed at a pace reminiscent of the Great Depression, dashing speculation the market was close to a bottom.

Visits to U.S. Retailers Fell 24% on Weekend Before Christmas: Customer visits to U.S. retailers fell 24 percent last weekend compared with a year earlier, the biggest drop on record, as deepened discounts failed to attract consumers.

Cash-strapped states look to cut from Medicaid: States from Rhode Island to California are being forced to curtail Medicaid, the government health insurance program for the poor, as they struggle to cope with the deteriorating economy.

1/3 Of US Banks May Fail Or Merge In 2009

The Madoff Victims - Not Anti-Semitism

Detroit Ave Home $18,513 - Unemployment Rate 21%

Early Suspicions About Bernard Madoff

Shopping Bonanza - Up To 90% Discounts

Financial Markets As 'Recession' Deepens

Insolvent Financial System Signals Higher Gold

Fiscal Insanity Virus Hits Canada, Italy, IMF

US Nov-Dec Holiday Sales Off 20%

Burien - US Hides $60 Trillion Off Books - Vid

NYC Synagogue Mogul Sued Over Madoff Scam

The Fallen Giants Of Finance

British Economy Set Back Five Years

Families Try Insurance Fraud To Save Selves

UK Plans Secret Tax On 'Nice' Homes

15 Big UK Retailers Face Collapse

The Grimmest Of Years

Oil Near Dives To Near $35 A Barrel

Japan Output Drops To Lowest Level In 55 Yrs

Massive Hedge Fund Redemptions As Investors Flee

Bleak Economic Future Seen In New Data

Japan Car Production Biggest Drop Since 1967

The Fed OKs GMAC To Become A Bank

US Retail Traffic Fell 24% Pre-Xmas Weekend

CA Budget Deficit Now $42 Billion

The Federal Reserve Abolition Act

Unemployment Filings Hit 26 Yr High

US Economy Shrinks Fastest Since 9-11

California Runs Out Of Money In February


Bush administration has been too lax in policing Wall Street

Federal officials are bringing far fewer prosecutions as a result of fraudulent stock schemes than they did eight years ago, according to new data, raising further questions about the Bush administrations recklessness.

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Friday, December 26, 2008

Bush's $1 Trillion War on Terror: Even Costlier Than Expecte

The news that President Bush's war on terror will soon have cost the U.S. taxpayer $1 trillion — and counting — is unlikely to spread much Christmas cheer in these tough economic times. A trio of recent reports — none by the Bush Administration — suggests that sometime early in the Obama presidency, spending on the wars started since 9/11 will pass

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California will run out of money in February

The State of California will run out of money within two months, forcing Governor Arnold Schwarzenegger to start settling bills and paying employees by issuing "IOU" notes, his chief financial officer has revealed. At present, Mr Schwarzenegger's administration is spending $11bn a year more than its total income.

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Millions of monkeys & 700 billion dollars.

Once upon a time a man appeared in a village andannounced to the villagers that he would buy monkeysfor $10 each.

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More economic troubles.



SLASH: NAME YOUR PRICE!

Wall St Santa rally small comfort after grim year; S&P set to end year down 40%...

Stimulus? A Mob Museum?
Retailers Want In on Stimulus Plan...

Sales Plummet; Discounts Don't Revive Holiday Spending; High-End Walloped...



Pope decries selfishness in economic crisis...

'If people look only to their own interests, our world will certainly fall apart'

1/3 of Banks Will Disappear Next Year

CBS Video Report

Many banks don't have enough money to survive in 2009, but mergers will keep their brands alive, said Ralph Silva of TowerGroup. Continue


Greed Has Pushed Political Credibility and Financial Trust into Freefall

By Gary Younge

Greenspan's ideology was unfettered, free-market capitalism. Its understanding of how the world works was rooted in self-interest. It was a value system that placed the private before the public, the individual before the collective, and the wealth of the few before the welfare of the many. Continue


Hey Reagan Democrats

Now Do You Get It?

By David Michael Green

The very people who had failed to regulate the folks causing the Even Greater Depression of the early twenty-first century now took $700 billion worth of taxpayer money and handed it to those same financial ‘industry’ crooks, without any requirements at all on what they could do with the money. But when the blue collar auto industry wanted just $15 billion to keep millions of middle class jobs afloat, the Republicans wouldn’t give it to them. Continue


Higher Wages or Bubblenomics:

What's it gonna be?

By Mike Whitney

A strong economy must be built on a solid foundation of steadily rising wages. If wages don't keep pace with production, the only way the economy can grow is through the expansion of debt, which leads to disaster. Continue


A New Wind Blowing

By Mary Pitt

The whole country is agog with the news of the Madoff Ponzi scheme and the billions he scammed from big investors, but nobody appears to realize that it is only the tip of a huge iceberg. Continue

N.Y. investor kills himself after losing over $1 billion in alleged Madoff scam: He was a distinguished investor who traced his lineage to the French aristocracy, hobnobbed with members of European high society and sailedaround the world on fancy yachts.

'PONZI SCHEME' AT CITI: A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that's now choking world banking. .

Japan Should Scrap U.S. Debt; Dollar May Plummet, Mikuni Says: Japan should write-off its holdings of Treasuries because the U.S. government will struggle to finance increasing debt levels needed to dig the economy out of recession, said Akio Mikuni, president of credit ratings agency Mikuni & Co.

Investor demands fund checks: The second-biggest investor in hedge funds will demand that some of the largest names in the industry, including Cerberus, Citadel, DE Shaw and SAC Capital, appoint independent administrators or face it pulling its money.

U.S. Military Preparing for Domestic Disturbances: A new report from the U.S. Army War College discusses the use of American troops to quell civil unrest brought about by a worsening economic crisis.

US Army Ready If Downturn Gets Out Of Hand: The US Army War College is on the case - ready to handle "unforeseen economic collapse" and the "rapid dissolution of public order in all or significant parts of the US."

U.S. jobless claims surge to 26-year high: The number of U.S. workers filing new claims for jobless benefits jumped by 30,000 to a 26-year peak last week, government data on Wednesday showed, as the country's year-long recession continued to chill the labour market.

Housing Starts Fall Through the Floor: In fact, the start reported for November is lower than any rate reported for the last fifty years.

Unemployed Americans Competing With Immigrant Labor for Unskilled Jobs: "Everybody is coming to look for work," Rene Jemio, outreach coordinator for the hiring hall, told the Wall Street Journal. "It's not just your average immigrant anymore; it's African-Americans and whites, too.

Oil Near Dives To Near $35 A Barrel

Japan Output Drops To Lowest Level In 55 Yrs

Massive Hedge Fund Redemptions As Investors Flee

Bleak Economic Future Seen In New Data

Japan Car Production Biggest Drop Since 1967

The Fed OKs GMAC To Become A Bank

Burien - The Biggest Game In Town - Vid

US Retail Traffic Fell 24% Pre-Xmas Weekend

CA Budget Deficit Now $42 Billion

The Federal Reserve Abolition Act

Unemployment Filings Hit 26 Yr High

US Economy Shrinks Fastest Since 9-11

California Runs Out Of Money In February

Thursday, December 25, 2008

Dismantling the Imperial Presidency

Radical change is needed to re-establish legitimate bounds to executive power as defined in the Constitution. We must again place beyond the pale Nixon's famous aphorism that "when the president does it, that means it's not illegal."

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The Federal Reserve Abolition Act

The bill provides for management of employees, assets and liabilities of the Board during a dissolution period, and more as follows: it designates the Director of the Office of Management and Budget to liquidate Fed assets in an orderly and expeditious manner;transfer them to the General Fund of the Treasury after satisfying all claims agains...

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The Treasury & the Fed are making up a game plan on the fly!

Sounds like a solid business plan! Let's give away a few more billion just because we can! "American Express Co and CIT Group, received approval to get $5.72 billion under the government's financial bailout program on Tuesday" Neither company would explain how they intend to use the taxpayers' money" || The cherry on the cake, no oversight! Hurray!

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Why Is The U.S. Military Preparing For Massive Civil Unrest?

A new report from the U.S. Army War College’s Strategic Studies Institute says that the U.S. military must quickly prepare for massive civil unrest that could be precipitated by an “unforeseen economic collapse”.

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More economic troubles.



SLASH: NAME YOUR PRICE!

Wall St Santa rally small comfort after grim year; S&P set to end year down 40%...
Cocoa hits 23-year high on supply fears...
PAIN: New York Times November ad revenue falls 20%...

Americans prefer news from Web to newspapers: survey...
Christmas plea: Store says 'shop, damn it, shop'...
New jobless claims jump more than expected...

USA falls deeper into recession...

Home prices may rise on mortgage boom...

Oil near $35...

PONZICIDE: Investor who lost $1.4B to Madoff kills himself...

World's richest woman was Madoff customer...

Greed Has Pushed Political Credibility and Financial Trust into Freefall

By Gary Younge

Greenspan's ideology was unfettered, free-market capitalism. Its understanding of how the world works was rooted in self-interest. It was a value system that placed the private before the public, the individual before the collective, and the wealth of the few before the welfare of the many. Continue


Hey Reagan Democrats

Now Do You Get It?

By David Michael Green

The very people who had failed to regulate the folks causing the Even Greater Depression of the early twenty-first century now took $700 billion worth of taxpayer money and handed it to those same financial ‘industry’ crooks, without any requirements at all on what they could do with the money. But when the blue collar auto industry wanted just $15 billion to keep millions of middle class jobs afloat, the Republicans wouldn’t give it to them. Continue


Higher Wages or Bubblenomics:

What's it gonna be?

By Mike Whitney

A strong economy must be built on a solid foundation of steadily rising wages. If wages don't keep pace with production, the only way the economy can grow is through the expansion of debt, which leads to disaster. Continue


A New Wind Blowing

By Mary Pitt

The whole country is agog with the news of the Madoff Ponzi scheme and the billions he scammed from big investors, but nobody appears to realize that it is only the tip of a huge iceberg. Continue

N.Y. investor kills himself after losing over $1 billion in alleged Madoff scam: He was a distinguished investor who traced his lineage to the French aristocracy, hobnobbed with members of European high society and sailedaround the world on fancy yachts.

'PONZI SCHEME' AT CITI: A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that's now choking world banking. .

Japan Should Scrap U.S. Debt; Dollar May Plummet, Mikuni Says: Japan should write-off its holdings of Treasuries because the U.S. government will struggle to finance increasing debt levels needed to dig the economy out of recession, said Akio Mikuni, president of credit ratings agency Mikuni & Co.

Investor demands fund checks: The second-biggest investor in hedge funds will demand that some of the largest names in the industry, including Cerberus, Citadel, DE Shaw and SAC Capital, appoint independent administrators or face it pulling its money.

U.S. Military Preparing for Domestic Disturbances: A new report from the U.S. Army War College discusses the use of American troops to quell civil unrest brought about by a worsening economic crisis.

US Army Ready If Downturn Gets Out Of Hand: The US Army War College is on the case - ready to handle "unforeseen economic collapse" and the "rapid dissolution of public order in all or significant parts of the US."

U.S. jobless claims surge to 26-year high: The number of U.S. workers filing new claims for jobless benefits jumped by 30,000 to a 26-year peak last week, government data on Wednesday showed, as the country's year-long recession continued to chill the labour market.

Housing Starts Fall Through the Floor: In fact, the start reported for November is lower than any rate reported for the last fifty years.

Unemployed Americans Competing With Immigrant Labor for Unskilled Jobs: "Everybody is coming to look for work," Rene Jemio, outreach coordinator for the hiring hall, told the Wall Street Journal. "It's not just your average immigrant anymore; it's African-Americans and whites, too.


The Federal Reserve Abolition Act

Unemployment Filings Hit 26 Yr High

US Economy Shrinks Fastest Since 9-11

California Runs Out Of Money In February





Wednesday, December 24, 2008

Why Is The U.S. Military Preparing For Massive Civil Unrest?

A new report from the U.S. Army War College’s Strategic Studies Institute says that the U.S. military must quickly prepare for massive civil unrest that could be precipitated by an “unforeseen economic collapse”.

read more | digg story

More economic troubles.


SLASH!
Christmas plea: Store says 'shop, damn it, shop'...
New jobless claims jump more than expected...

USA falls deeper into recession...

PONZICIDE: Investor who lost $1.4B to Madoff kills himself...

World's richest woman was Madoff customer...

Stimulus: $1 trillion more with 'little oversight'?...
GOOGLE cuts back year-end bonuses; Staff given mobiles rather than cash...

Higher Wages or Bubblenomics:

What's it gonna be?

By Mike Whitney

A strong economy must be built on a solid foundation of steadily rising wages. If wages don't keep pace with production, the only way the economy can grow is through the expansion of debt, which leads to disaster. Continue


World Faces "Total" Financial Meltdown: Bank of Spain Chief

By AFP

The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a "total" financial meltdown unseen since the Great Depression. Continue


With Economy in Shambles, Congress Gets a Raise

By Jordy Yager

A crumbling economy, more than 2 million constituents who have lost their jobs this year, and congressional demands of CEOs to work for free did not convince lawmakers to freeze their own pay. Continue


Bernard Madoff:

Wall Street Swindler Strikes Powerful Blows for Social Justice

By James Petras

In a few days, one individual, Bernard Madoff, has struck a bigger blow against global financial capital, Wall Street and the US Zionist Lobby/Israel-First Agenda than the entire US and European left combined over the past half century! Continue

Fighting the Greedy Defense Lobbyists: Our Schools vs. Their Worthless Weaponry

Madoff Scheme Was ‘Impossible’ to Do Alone, Says EIM’s Busson: Bernard Madoff’s alleged Ponzi scheme, which might have cost investors $50 billion, couldn’t have been carried out alone, said Arpad ‘Arki’ Busson, chairman and founder of Swiss investment firm EIM SA.

Greed has Pushed Political Credibility and Financial Trust into Freefall: Recent scandals in America reveal a value system that puts the wealth of a few before the welfare of many

World faces "total" financial meltdown: Bank of Spain chief : The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a "total" financial meltdown unseen since the Great Depression.

New Report: Worldwide Bankruptcy Wave About to Hit: Europe and the U.S. are about to experience a significant increase in business failures. That's the conclusion reached by Paris-based Euler Hermes, the world's largest credit insurer, in a recently released 57-page report on business insolvencies worldwide.

UK: Bailiffs get power to use force on debtors: The government has been accused of trampling on individual liberties by proposing wide-ranging new powers for bailiffs to break into homes and to use “reasonable force” against householders who try to protect their valuables.

Where'd the bailout money go? Shhhh, it's a secret: After receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it.

$1.6 billion went to bailed-out bank execs: Records show bonuses, chauffeurs, health club benefits, financial planning

World Financial Crisis

ADL Calls Madoff Critics 'Anti Semites'

Madoff-Linked Dead NY Fund Mgr Had 'Stab Wounds'

Madoff Victims Have To Return 6 Yrs Profits?

Fund Mgr w/Madoff Ties Found Dead In NY

US Home Prices Drop At Near Depression Pace

US Property Developers Seek Govt Aid

Brown Wants 27% Inerest On Loans To Poor!

RBS Repo Threat Even When Mtge Paid!

UK Mtge Approvals Fall To All-Time Lows

Global Jobless To Rise By 25 million

The Real Bank Robbers

Era Of Russian Oligarchs Ending

New Zealand Recession Deepens

Central Banks Revolution Gathers Speed

Champagne Sales Collapse

Federal Reserve Is THE Reason For US Demise

US Economy Sinks In Ocean Of New Money

Why US Trade Deficit Is Worsening

Great Stocks/Commodities Deleveraging Crash Of 09

Belgian Govt Collapses Over Fortis Bank Selloff

Growing Signs Of Workers Unrest In China

Keep Blowing...The Bailout Bubble Will Burst

Where Did Bailout $ Go? Big Banks Won't Say

Global Shipping Sinking Fast - Stories








Tuesday, December 23, 2008

Bank Regulator Let Banks Falsify Reports

A senior federal banking regulator approved a plan by IndyMac Bank to exaggerate its financial health in a May federal filing, allowing the California company to avoid regulatory restrictions only two months before it collapsed, a federal inquiry has found.

read more | digg story

More economic troubles.

GIMME: More companies lining up for piece of bailout fund...


California could be broke in 2 months...

Unions sue governor over mandatory days off...

GM, FORD Debt Lowered Further Into Junk as Automakers Tackle Restructuring...
Increased shoplifting another sign of bad times...

Stimulus? $1 billion for Vegas roads...

Mortgage activity surges at banks; Lenders caught off-guard by flurry of applications...
Where'd the bailout money go? Shhhh, it's a secret...

Sees parallels in new politics and Nazi Germany...
Saving Capitalism No Sure Thing as Statism Undermines Economy...

World Faces "Total" Financial Meltdown: Bank of Spain Chief

By AFP

The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a "total" financial meltdown unseen since the Great Depression. Continue


With Economy in Shambles, Congress Gets a Raise

By Jordy Yager

A crumbling economy, more than 2 million constituents who have lost their jobs this year, and congressional demands of CEOs to work for free did not convince lawmakers to freeze their own pay. Continue


Bernard Madoff:

Wall Street Swindler Strikes Powerful Blows for Social Justice

By James Petras

In a few days, one individual, Bernard Madoff, has struck a bigger blow against global financial capital, Wall Street and the US Zionist Lobby/Israel-First Agenda than the entire US and European left combined over the past half century! Continue

Fighting the Greedy Defense Lobbyists: Our Schools vs. Their Worthless Weaponry

Madoff Scheme Was ‘Impossible’ to Do Alone, Says EIM’s Busson: Bernard Madoff’s alleged Ponzi scheme, which might have cost investors $50 billion, couldn’t have been carried out alone, said Arpad ‘Arki’ Busson, chairman and founder of Swiss investment firm EIM SA.

Greed has Pushed Political Credibility and Financial Trust into Freefall: Recent scandals in America reveal a value system that puts the wealth of a few before the welfare of many

World faces "total" financial meltdown: Bank of Spain chief : The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a "total" financial meltdown unseen since the Great Depression.

New Report: Worldwide Bankruptcy Wave About to Hit: Europe and the U.S. are about to experience a significant increase in business failures. That's the conclusion reached by Paris-based Euler Hermes, the world's largest credit insurer, in a recently released 57-page report on business insolvencies worldwide.

UK: Bailiffs get power to use force on debtors: The government has been accused of trampling on individual liberties by proposing wide-ranging new powers for bailiffs to break into homes and to use “reasonable force” against householders who try to protect their valuables.

Where'd the bailout money go? Shhhh, it's a secret: After receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it.

$1.6 billion went to bailed-out bank execs: Records show bonuses, chauffeurs, health club benefits, financial planning

World Financial Crisis

Federal Reserve Is THE Reason For US Demise

US Economy Sinks In Ocean Of New Money

Why US Trade Deficit Is Worsening

Great Stocks/Commodities Deleveraging Crash Of 09

Belgian Govt Collapses Over Fortis Bank Selloff

Growing Signs Of Workers Unrest In China

Keep Blowing...The Bailout Bubble Will Burst

Where Did Bailout $ Go? Big Banks Won't Say

Global Shipping Sinking Fast - Stories

FBI Diverts Terror Agents To Madoff Case

Liquidator Seizes Madoff's UK Fund

Toyota In First EVER Annual Loss

Barky Wants $700B To Save Economy

Bush Detroit Bailout Looks Like Path To BK

UK Home Prices Won't Recover For Decade

Britain's Job Bloodbath

Wave Of Major UK Retail Bankruptcies Soon

Bank Of China Rage At Deutsche Debt Move

China Cuts Rates For 5th Time In 90 Days

Japanese Exports Fall Record 27%

Oligarchs Seek $78B - Putin Will Benefit

Greed Shows Wealth Of Elite Put Above All

Kuwait Investment House Fails - Gulf Image Hit

'Total' World Financial Meltdown - Bank Of Spain

US Gasoline Seen Hitting $1 Gal In 2009

ADL Screams Anti-Semitism! Over Madoff Posts On Net

Madoff 'Fraud' Used to Cover Loses?

Madoff's Ethnic Cleansing of America

$1.6 Billion Went To Bailed Out Bank Execs!

Fed To Give Hedge Funds $200B

Top Banker Found Hanged In Hotel Room





Monday, December 22, 2008

Banks Can't Track Bailout Money, Won't Talk About It

The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest? None of the banks provided specific answers.

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Banks Refuse To Disclose How Bailout Money Is Spent

Lawmakers summoned bank executives to Capitol Hill last month and implored them to lend the money — not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. But there is no process in place to make sure that's happening and there are no consequences for banks who don't comply.

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More Antal Fekete as Gold Backwardation goes on...

It's hard to explain how screwed up things are in the precious metals markets right now with this little space. Suffice it to say the metal (or firms purporting to own it) might not be there in the future, and traders apparently know it. Think "counterparty risk"!

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Expect more economic whiplash.

The Consumer Price Index has declined 4.7% in the last 2 months.The unprecendented reductions in interest rates are meant to avoid a depression that would affect debtors adversely.After the resultant inflation and recovery the dollar will be unattractive in foreign markets..

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Serfs to pay $1.6B in taxes to bailed-out bank execs Lords

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.

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The Streak is Ending: Toyota Expects First Operating Loss

Toyota Motor Corp, the world's biggest automaker, on Monday forecast its first ever group operating loss due to a relentless global slide in car sales and a crippling rise in the yen.

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ABC News: Where'd the Bailout Money Go? Shhhh, It's a Secret

jp morgan refuses to say how they are spending my tax dollars- it seems we arenever going to know what happens to that bailout money....

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Cartoon: Federal Reserve Social Security Ponzi Scheme

The Cagle Post cartoon mocks our fascist US Government public dis-servants in our corrupt, elitist Congress; the White House, and the diabolical Delaware private closed corporation central banking cartel monopoly, The Federal Reserve Banks - Internal Revenue Service who have shared in the theft of ALL the money in the Social Security "Trust Fund".

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AP Study Finds $1.6B Went to Bailed-Out Bank Execs

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.

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Wall Street Still Flying Corporate Jets

Crisscrossing the country in corporate jets may no longer fly in Detroit after car executives got a dressing down from Congress. But on Wall Street, the coveted executive perk has hardly been grounded.

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More economic troubles.

HOLIDAY CHEER:

Bank of Spain chief: World faces 'total' financial meltdown...

IMF chief warns 2009 may be 'even darker'...

If the former chairman of Nasdaq is a crook

Who Can You Trust in America?

By Nicholas von Hoffman

Madoff's fall has planted the seeds of suspicion. We now doubt those we have done business with for years. The presumption of trust is gone. Continue


Capitalism Short Circuits Our Moral Hard-Wiring

By Gary Olson

Perhaps not since the 1930s have our citizens been more skeptical of received wisdom about our socioeconomic system. That is, the carefully manufactured narrative of market capitalist identity and its assumptions about human nature are now thrown into sharp relief. Continue

"It's Kristallnacht Two!" An Ethnic Cleansing in America : In terms of financial and psychological impact, Bernard Maddow’s $50 billion heist certainly ranks as a major ethnic cleansing here in America, a hugely traumatic event for American Jewry.

Calif. unemployment rate jumps to 8.4 percent: The jobless rate announced by the U.S. Department of Labor was up from 5.7 percent a year earlier, and 8.2 percent in October. Only Michigan and Rhode Island posted higher jobless rates than California.

Bush 'considering' auto bankruptcy: The Bush administration has said it is seriously considering allowing struggling major US vehicle manufacturers to go bankrupt despite their plea for government aid.

Federal spending soars 25% before bailout: The government's spending commitments exploded by 25 percent in 2008, putting taxpayers more than $1 trillion in the hole even before the astronomical costs of the economic bailout were taken into account, according to an annual report released Monday by the White House.

GM Opens Eighth China Plant, Won't Add Further Capacity Soon: GM expects to boost China sales about 9 percent next year as it adds new models and an economic stimulus plan helps revive overall demand. Auto sales in China have declined in three of the past four months because of the global economic slowdown.

Credit-Card Users Feel Pain as U.S. Banks Reap Gain: Credit-card companies, facing an increase in defaults and a decline in consumer spending, are raising some rates, adding fees and cutting credit lines as the Federal Reserve makes the most sweeping changes to the industry in 30 years.

World Financial Crisis

'Total' World Financial Meltdown - Bank Of Spain

US Gasoline Seen Hitting $1 Gal In 2009

ADL Screams Anti-Semitism! Over Madoff Posts On Net

Madoff 'Fraud' Used to Cover Loses?

Madoff's Ethnic Cleansing of America

$1.6 Billion Went To Bailed Out Bank Execs!

Fed To Give Hedge Funds $200B

Top Banker Found Hanged In Hotel Room

UK Debt At 'Disturbing' Level - IMF

World Protectionist Dominoes Crumbling

Irish Banks Saved By ¤7B Bailout

Bailiffs Can Use Force On Debtors

Madoff Projected Charm, Confidence, Integrity

Jews - Madoff Broke 'Taboo Among Criminals'

Latest Madoff Tally To Date - $36 Billion

US Economy - The Philopher's Stone - Vid

Swindler Madoff Strikes Blows For Social Justice!

Canada To Give GM, Chrysler $4 Billion

Wall Street Readies For Next Big Heist

World Crisis Tipping Point In March, 2009

Bailout Ripoff Tops $8 Trillion

Christopher Bollyn On Madoff

Ground Zero On Wall Street

Bye Bye Dollar, Bye Bye Treasuries



Saturday, December 20, 2008

America Will Soon Owe More Than Its Citizens Are Worth

The sum of America's liabilities now exceeds the collective net worth of its citizens, the Peter G. Peterson Foundation has calculated using the latest data. Growth in the government's unfunded promises for social programs, combined with a drop in Americans' net worth due in part by lower home equity values, is causing this unprecedented milestone.

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Japan's Central Bank Echoes Fed's Disastrous Int. Rate Cut

Following the suicidal example of the American fascist Delaware private closed corporation central banking cartel monopoly, The Federal Reserve Banks - Internal Revenue Service, The Bank of Japan slashed their interest rate, guaranteeing debasement of their fiat "money as debt" Yen, and hyper-inflation destined to crash their economy too. Treason !

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Ron Paul: Auto Rescue is Damaging to Economy

Congressman Ron Paul (R-TX) was interviewed by Fox Business on Friday regarding the President's decision to bail out the auto industry.

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Bush Approves $17.4 Billion Auto Bailout

The $13.4 billion in short-term financing and $4 billion at a later date are intended to prevent the collapse of General Motors and Chrysler.

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Uncle Sam Screwed to the Tune of $17 billion in Ponzi Scheme

Even Uncle Sam may get burned by Bernard Madoff. Investors who lost their fortunes in Madoff's alleged Ponzi scheme will end up paying far less in taxes and may even be eligible for refunds, according to accounting experts. By some estimates, the Internal Revenue Service could be out as much as $17 billion in lost tax revenue.

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Paulson: Congress Should Release Rest Of TARP

Paulson wants Congress to release the second half of the $700 billion financial rescue package, setting up what is expected to be a bruising dialogue with lawmakers from both parties.

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Friday, December 19, 2008

Dollar inevitably loses world reserve currency status

World’s largest companies working on the global currency market say that the US dollar can no longer be considered a quiet harbor at the height of the financial crisis. The dollar hit its lowest level against the Japanese yen in 13 years and suffered the largest one-day slide against the euro after the Fed System cut interest rates to zero.

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More economic troubles.


STICKER SHOCK: BUSH BILLIONS FOR AUTOS
FORD SAYS 'NO THANKS'

Bush says he can't let auto companies collapse...

Bailout for autos...

...access the money immediately

'Short-Term Loans'...

Congress Gives Themselves a Raise...

World Bank: Russia may need help if oil falls more...

Bush 'considering' auto bankruptcy: The Bush administration has said it is seriously considering allowing struggling major US vehicle manufacturers to go bankrupt despite their plea for government aid.

Federal spending soars 25% before bailout: The government's spending commitments exploded by 25 percent in 2008, putting taxpayers more than $1 trillion in the hole even before the astronomical costs of the economic bailout were taken into account, according to an annual report released Monday by the White House.

GM Opens Eighth China Plant, Won't Add Further Capacity Soon: GM expects to boost China sales about 9 percent next year as it adds new models and an economic stimulus plan helps revive overall demand. Auto sales in China have declined in three of the past four months because of the global economic slowdown.

Credit-Card Users Feel Pain as U.S. Banks Reap Gain: Credit-card companies, facing an increase in defaults and a decline in consumer spending, are raising some rates, adding fees and cutting credit lines as the Federal Reserve makes the most sweeping changes to the industry in 30 years.

Dismal Economy Sinks Oil Below US$37

Once In A Millenium Financial Crisis

Madoff Moved The Money To Israel?

Bush Considers 'Orderly' Automaker Bankruptcy

Dollar's Drop Erases Months Of Solid Gains

30 Chrysler Plants To Close For A Month

The Talmud, Wall Street, & Bernie The Goniff

Stocks Drops - Fear Fed Is Out Of Tricks

The Fed Is Utterly Petrified

BoE - UK Banks Will Need More Money

Desperate Fed Rate Cuts Won't Save Economy

Madoff Victims Threaten To Sue Banks

New SEC Chief Gave Madoff's Son A Job

Record OPEC Oil Cut Fails To Lift Prices

27,000 Woolworths Staff Gone In Janaury

UK Car Production Slumps By A Third

New Economic Policy - Just Print More

Deutsche Bank Shocks Markets



Thursday, December 18, 2008

Madoff in House Arrest, SEC Under Fire

By Grant McCool and John Poirier NEW YORK/WASHINGTON (Reuters) - Disgraced Wall Street investment manager Bernard Madoff, accused of orchestrating a $50 billion fraud, was put under house arrest on Wednesday. BNP Paribas SA became the latest.....

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Fed unleashes greatest bubble of all

Now the Fed’s decision to cut interest rates to between zero and 0.25 percent, coupled with a promise to keep them there for an extended period, and the threat to conduct even more unconventional operations in the longer-dated Treasury market risks the biggest bubble of all, this time in U.S. government debt.

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Walter Williams: Counterfeiting versus Monetary Policy

It is not wise for us to permit a few people on the Federal Reserve Board to have life and death power over our economy. Williams recommends repealing legal tender laws and eliminating all taxes on gold, silver and platinum transactions. That way there would be money substitutes, eliminating and the government money monopoly.

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