DOW ENDS WEEK DOWN 34 POINTS
DOW UP 40 POINTS IN PAST MONTH... UP 18% PAST 5 YEARS... UP 44% PAST 10 YEARS...'TO HELL AND BACK': Wall Street's old hands not rattled...
Obama rips into 'panicked' McCain...
Murdoch: Obama's economic policies 'naive' and 'old fashioned'...
...'will ruin our relationships with the rest of the world'
WIRE: PELOSI, KERRY BIG $$ LOSERS...
STOCK WRAP...
RESCUE PLAN COULD COST $1,000,000,000,000.00...
SEC bans short-selling...
Treasury to guarantee money market funds...
THE BIG BOUNCE: London records biggest surge in history...
Russian stocks suspended amid massive surge...
GLOBAL MARKETS ROAR...
The Point of No Return
By Mike Whitney
Neither China nor the Saudi princes are buying any more failing investment banks. They'll leave that to the US taxpayer. Continue
The Party's Over
By Patrick J. Buchanan
The Crash of 2008, which is now wiping out trillions of dollars of our people's wealth, is, like the Crash of 1929, likely to mark the end of one era and the onset of another. Continue
Hey U.S., Welcome to the Third World!
By Rosa Brooks
It's been a quick slide from economic superpower to economic basket case. Continue
Paulson and Bernanke Stampede Washington - Continue Raid On The Public Purse
Citing Grave Financial Threats, Officials Ready Massive Rescue
By Binyamin Appelbaum and Lori Montgomery
The Bush administration is urgently preparing a massive intervention to" revive" the U.S. financial system, including a plan to sweep away the unpaid loans that are choking banks and blocking the flow of money to borrowers. - Paulson and Bernanke presented a "chilling" picture of the state of the financial system, according to a participant in the meeting who spoke on condition of anonymity. Continue
The World As We Know It Is Going Down': It really does look as if the foundations of US capitalism have shattered.
In Hard Times, Tent Cities Rise Across the Country: Since foreclosure mess, homeless advocates report rise in encampments.
Escape of the bankrupt: The world's financial markets remain at the eye of a perfect economic storm.- In the most glaring example of capitalism gone wrong, the Russian stock market was forced to close its doors for the second consecutive day yesterday. For a system that is built and flourishes on confidence, the future is extremely uncertain.
Where's Our Bailout?: Almost overlooked in this morning's extraordinary headlines about government intervention to protect the nation's financial system from collapse was the failure of the House of Representatives on Thursday to act on a $50 billion stimulus package for the rest of us.
For AIG, $85 billion might not be enough: AIG had $971.7 billion of liabilities at the end of June, but a subsidiary also has about $447 billion of credit derivatives on its books. That compares with a little more than $1 trillion of assets.
Tab for Government Rescues Rises to $900 Billion +: The U.S. Federal Reserve stepped in to rescue insurance giant American International Group from bankruptcy with an $85 billion loan on Tuesday. The action brings the total tab for government rescues and special loan facilities this year to more than $900 billion. Following are details of actions and amounts:
Fannie Mae and Freddie Mac Invest in Lawmakers; When the federal government announced two months ago that it would prop up mortgage buyers Fannie Mae and Freddie Mac, CRP looked at how much money members of Congress had collected since 1989 from the companies.
Confessions of a sub-prime mortgage baron: Across the US, an estimated 2.5 million people are in danger of losing their homes to foreclosure this year as a result of the sub-prime mortgage crisis. Bitner's description of day-to-day business at Kellner is an eye-watering glimpse of the industry's slide into anarchy..
McCain Attacks Wall Street Greed—While 83 Wall Street Lobbyists Work for His Campaign: McCain has been quick with fiery, populist-tinged speeches. But one thing has been missing: any acknowledgment that McCain's own campaign has been loaded with the type of people he's been denouncing.
Financial Terrorism Backfires On US, UK
The Party's Over - Pat Buchanan
Paulson's Plan Could Cost US Taxpayers $1 Trillion
Wall St Dumps Mtge Corruption Onto Taxpayers
US Debt Downgrade = Treasurys Default = Game Over
Gold Forecast Target $2,500 And Silver $250
Systemic Failure Of The United States - Game Over
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