FED CUTS INTEREST RATE TO 1%....
Cuomo warns nine banks about bonus payments...
The “Dirty Little Secret” Of the US Bank Bailout
By Barry Grey
In an unusually frank article published in Saturday's New York Times, the newspaper's economic columnist, Joe Nocera, reveals what he calls "the dirty little secret of the banking industry"--namely, that "it has no intention of using the [government bailout] money to make new loans." Continue
The Rothschilds and their 200 years of political influence: John McCain's campaign team is under investigation for allegedly accepting a benefit in kind from two mega-rich British citizens, namely Nat Rothschild and his father, Jacob, the Fourth Baron Rothschild.
Putin rules out nationalization of Russian economy: "I would like to stress that imposing state controls on Russia's economy is not, cannot be, and will not be our task. Increasing the state's presence in the economy is a forced measure and is temporary," Vladimir Putin told an economic conference.
U.S. pulls the plug on the world: The U.S. administration has prompted a huge surge in the U.S. dollar, which may help refinance its financial sector. The cost is a currency whirlwind that threatens the collapse not just of banks and companies but entire countries.
Banks to Use Bailout Bucks for Mergers: The Treasury Department’s capital injection program is well underway, with more than $150 billion total now promised to around 30 banks. So far, the evidence suggests many of those banks will use the cash to buy up weaker banks.
Car dealers hit by sales decline, weak economy: Sonic Automotive, which operates only in the United States, posted a loss of $25.3 million, or 57 cents per share during the quarter, compared with a profit of $26.1 million, or 58 cents, a year ago.