Monday, November 24, 2008

More economic issues


Congress Will Send Obama Stimulus Bill 'on Inauguration Day'...

...Hint of hold on taxes

Needed: TV Network bailout?; Bad economy slows ad sales...
Bernanke says he erred in gauging mortgage fallout...

Worst of financial crisis yet to come: IMF chief economist...

“Let Detroit Go Broke”

GM, the NY Times & Marxism 101

By Shamus Cooke

Whereas the giant Wall Street banks received over 1 trillion dollars – so far— without barely having to ask, an industry that actually produces something has to beg for a handout. Why the difference? Continue

The Republican War on Welfare

By Huda Alnasir

It was such an easy sell, and so rewarding at the polls. All they had to do was convince working- and middle-class families that while they were slaving away and paying taxes, there were shiftless minorities and poor whites having babies, using drugs, and watching television on their dime. Continue

In case you missed it

Death Of The Dollar

Aljazeera Video

Paul Craig Roberts and others talks about the ill health and possible demise of the dollar. Continue

Russia acknowledges financial crisis has hit hard: "It is clear that Russia will be much worse affected by the crisis than other major economies and will be affected for much longer."

US will guarantee up to $1.4T in bank debt: The first preliminary approval went to Ford Group Bank, whose owners include Hilltop Holdings, Inc., an investment vehicle for Texas billionaire Gerald J. Ford.

Citigroup talking to U.S. government: Citigroup Inc has begun talks with the U.S. government as its plummeting share price raises doubts about the bank's ability to survive, a person familiar with the matter said.

Bank Regulators Shut Down 3 Banks: Bank regulators in two states shut down three institutions Friday -- one in Georgia and two in California. They are the 20th, 21st and 22nd federally-insured operations to be closed this year.

Obama Said to Pick Geithner as Treasury Secretary : Geithner helped lead the U.S. response to the deepest financial crisis in seven decades, including the takeover of American International Group Inc. and Bear Stearns Cos. rescue, and decision to let Lehman Brothers Holdings Inc. fail.

Why Washington Cannot Prevent Depression: The dire reality: Washington is not God. It cannot save the world. It cannot prevent the next depression. Hard to believe? Here’s the proof:

Dennis Kucinich "Racketeering On A Scale This Country Has Never Seen Before!!!" 4 Minute video

Citigroup May Get Government Rescue, Investors Say: Citigroup Inc. will probably get rescued by the U.S. government after a crisis in confidence erased half its stock-market value in three days, investors and analysts said.

In case you missed it: Professor Ngaire Woods: The death of the dollar?: We are living in economic chaos. Banks, homes, jobs, and businesses are at risk.

GM May Have Weeks, Not Months, Without Aid, York Says: Chief Executive Officer Rick Wagoner ``all but said'' at congressional hearings in the past two days that GM can't continue to operate until a new U.S. administration takes over in January, York said in a Bloomberg Television interview today.

White House to extend unemployment benefits: With weekly jobless claims benefits at a 16-year high, the White House said Thursday that President George W. Bush would sign quickly legislation pending in Congress to provide further unemployment benefits.

Insider Admits PPT Manipulates Stock Market

Sources - Feds Working On Citi Rescue

JCPenney OPENS More Stores, Doing Just Fine

Bailout - Paulson Threatened Reps w/Martial Law

This Is Not A Normal Recession

GM Board Weighs Bankruptcy Option

Citi Dying - Shares Dive 20%, Break Up Considered

Billions More Wiped Off Citigroup Shares

Euro Car Sales Plummet

Only Drastic Action Will Save Us - Brown

Rich Buying Up Farm Land In Poor Nations

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