Wednesday, October 22, 2008

More economic issues

YAHOO firing 1,500 workers; 3Q profit falls 64%...

OPEC faces tough test as oil price tumbles...

UPDATE: 30 powder-laced letters sent to banks...

...Sent from Amarillo

PUMP: Fed to Provide Up to $540 Billion to Aid Money Funds...

Licensed Kleptocracy for Years to Come

The ABCs of Paulson's Bailout

By Michael Hudson

Wall Street is in control, but its policies are so shortsighted that they are eroding the underlying economy – which is passing from democracy to oligarchy, and indeed it seems to a bipartisan financial kleptocracy. Continue

What Went Wrong in the Capitalist Casino?

By Tony Benn

What we are watching is nothing less than the steady transfer of real political power from the polling station to the market and from the ballot to the wallet - reversing the democratic gains we have made over the last century when we were able, increasingly, to use our votes to shape our economic future. Continue

Naomi Wolf, The End of America: “My sense of alarm comes from the clear lessons from history that, once certain checks and balances are destroyed, and once certain institutions have been intimidated, the pressures that can turn an open society into a closed one turn into direct assaults; at that point events tend to occur very rapidly, and a point comes at which there is no easy turning back to the way it used to be.”

Islamic banking escapes fallout: ISLAMIC banking has largely escaped the fallout from the global financial crisis, thanks to rules that forbid the sort of risky business that is felling mainstream institutions.

Layoffs spreading across corporate America: Shock waves from the global financial crisis are now being felt in almost every corner of working America as companies press the eject button on increasing numbers of employees.

Homeless numbers 'alarming': More families with children are becoming homeless as they face mounting economic pressures, including mortgage foreclosures, according to a USA TODAY survey of a dozen of the largest cities in the nation.

Dow Drops 231 On The Day

Central Banks Scramble To Buy Dollars

No China Cash Bailout For Pak - Next Stop IMF

Kerkorian Dumps 2/3 Of Ford Stock

Putin - Russia Well Prepared To Survive Crisis

Dreamer Bush Says Economic 'Panic' Easing

The Spreading Worldwide Storm

Markets Soar As LIBOR Starts To Fall

Bernanke Wants Second 'Stimulus' Package

Sweden Launches Financial Rescue Package

Iceland Agrees To $6B Deal With IMF

France To Inject ¤10.5B Into Top 6 Banks

The End Of The Blue Chip Economy

Wall St Higher On 'Hope' (Good Luck)

Summer 2009 - US Defaults On Debt

BushCo - 'Parts' Of US In Recession

Cash-Strapped Sumner May Sell Viacom

Options Pointing To $50/Barrel Oil

Paulson Bailout Scheme Causing Mtge Rate Surge

Will Lehman Debt Insurers Pay Up? Fears Grow

The Crumbling US Economy - Worse Is Yet To Come

US Inflationary Growth Will Lead To Dollar Implosion

US Faces Worst Recession In 26 Years

ING Gets ¤10B From Dutch Government

China's Growth Rate Falls Flat As Gloom Spreads

S Korea's $130B Guarantee May Not Be Enough

Thousands Of Hedge Funds Expected To Bust

UK Bank Chiefs Ordered To Cut Evictions

China To Bailout Near Bankrupt Pakistan

Lehman's CDS Derivatives Haunt Markets

Summer 2009 - US Defaults On Its Debt

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