World crisis plan criticized as new trading dawns...
GOP Senator: Paulson may have given bailout money 'to his friends'!
*Seeks 'freeze on any remaining bailout funds'...
SHARP KNIVES: STATE BUDGETS IN SHORTFALL; CUT SERVICES OR RAISE TAXES?...
"The Dollar Standard Is Coming To An End"
5 Minute Video - Dr. Paul on the Global Financial Summitt
One Central Bank For The World to Replace The Dollar Standard. Continue
The no-think nation
The Crisis Has Hardly Begun
By Paul Craig Roberts
The exchange value of the dollar will decline with the domestic inflation. Once inflation is off and running, the printing press dollars will only have goods made in America to chase after. The real crisis has not yet begun. Continue
Lehman Administrators' Task Will Dwarf Enron, Creditors Told
• European arm has more than $500bn of debt
• Collapsed bank's creditors expect less than 10%
By Simon Bowers
Speaking after the first creditors' meeting, a team from PricewaterhouseCoopers said they had identified more than $1tn (£670bn) in assets and liabilities that need to be accounted for. Continue
Leading Economist Warns of Food Riots
By The London Banker and RGE Monitor
Everyone along the supply chain should worry about their jobs. Many will lose their jobs sooner rather than later. Continue
Venezuela's Chavez plans alternative financial crisis summit: On Friday, Chavez accused the G20 of ignoring the world's smaller countries. He also expressed doubt that its November 14-15 summit in Washington would be able to come up with measures to tackle the economic "hurricane" that he says the U.S. has caused.
Eurozone slips into recession: The eurozone has officially slippped into recession after European Union (EU) statisticians estimated the economy of its 15-member states shrank by 0.2 per cent in the third quarter.
The Worst Is Not Behind Us
Beware of those who say we've hit the bottom.
By Nouriel Roubini
The recession will continue until at least the end of 2009 for a cumulative gross domestic product drop of over 4%; the unemployment rate will likely reach 9%. The U.S. consumer is shopped-out, saving less and debt-burdened: This will be the worst consumer recession in decades. Continue
Wall Street's Bailout is a Trillion-Dollar Crime Scene
Why Aren't the Dems Doing Something About It?
By Naomi Klein
The more details emerge, the clearer it becomes that Washington's handling of the Wall Street bailout is not merely incompetent. It is borderline criminal. Continue
Let the Trials Begin!
By DOUGLAS VALENTINE
Amid the euphoria and angst of the Obama apotheosis, the unreality of a mismanaged, two trillion dollar, taxpayer funded bailout of freewheeling capitalists, and the wars of limbo in Iraq and Afghanistan, one little thing is being overlooked. Continue
Ecuador to miss $30.6 million foreign debt payment: Ecuador will delay a $30.6 million interest payment on its foreign debt while it investigates signs of lawbreaking in the contracts, the finance minister said Friday, prompting a quick and negative reaction in bond markets.
British banks battered in wake of Paulson's U-turn on US bail-out: SHARES in Royal Bank of Scotland, Barclays and other banks were hit yesterday in the wake of the US government's abandonment of the cornerstone of its $700 billion (£467bn) rescue effort for the financial system.
European Car Sales Fall 15% as Credit Crisis Deepens: European car sales plunged almost 15 percent in October, the sixth consecutive monthly decline, as credit-market turmoil and an economic slowdown hurt demand.
As factories close, Chinese workers suffer: The slowdown in exports contributed to the closing of at least 67,000 factories across China in the first half of the year, according to government statistics. Labor disputes and protests over lost back wages have surged, igniting fear in local officials.
October budget deficit hits record of $237.2B: The Treasury Department said Thursday that the deficit for the first month in the new budget year was the highest monthly imbalance on record. It was far bigger than analysts expected, over four times larger than the October 2007 deficit of $56.8 billion, and more than half the total for all of last year.
U.S. Economy: Retail Sales Drop in October by Most on Record: Retail sales and prices of goods imported to the U.S. dropped by the most on record, signaling the economy may be in its worst slump in decades.
Sun to cut up to 6,000 workers, 18 pct of staff: Sun's shares have fallen so steeply they've crossed an ominous threshold, driving the company's market value below its cash on hand.
Freddie seeks gov't aid after $25.3B loss: Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss.
US Senate to take up auto bailout on Monday-Reid: The U.S. Senate plans to take up a $25 billion bill on Monday to bail out distressed domestic auto companies, but it is unclear if proponents can muster the necessary support.
G20 Won't Change Financial Crime Scene
First Class Ideas For A Peoples Bank
G20 Agrees On Tax And Interest Rate Cuts
Second G20 Summit Planned For London
West Must Accept East Shift Of Financial Power
US Carmaker Crash Would Lose 3M Jobs
G20 - 'New Global Order' Financial Structure
G20 Put Off Major Decisions Until Next Year
G20 Pledge To Stabilize The Economy
110 US Banks Ask For $170B From Bailout
Freddie Says It Is Worth Less Than Zero
Lehman Administrators Paid More Than Bankers
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