Life the Universe and ....: More economic issues

TAX REBATE OFF TABLE? Dems in senate scrap...

Obama defends delay in response to AIG bonuses... Defends tax plan on charitable giving... 'Heartbroken' over homeless... Rejects China's call for new global currency... 'Super Currency' Call Shows Dollar Concern...Fed to Start Buying Treasuries in $300 Billion Plan to Cut Borrowing Costs... European Central Bank resists rush to print more money...BANK OF ENGLAND WARNS PRIME MINISTER: STOP THE SPENDING! We've run out of money, no more stimulus...

Officials seek new power over financial companies...

Geithner Plan Will Rob US Taxpayers

By Reuters

The U.S. government plan to rid banks of toxic assets will rob American taxpayers by exposing them to too much risk and is unlikely to work as long as the economy remains weak, Nobel Prize-winning economist Joseph Stiglitz said on Tuesday. Continue

Geithner Update

Bend Over and Say, "Uncle Sam"

By Mike Whitney

Here's what everyone needs to know: The US government (you) will provide up to 94 percent of the financing (low interest, of course) for dodgy mortgage-backed assets that no one in their right mind would ever buy so that wealthy and politically-connected banksters can scrub up to $1 trillion of red ink from their balance sheets. Ugh! Continue

China to Keep Buying Treasuries, Top Official Says : China’s top foreign-exchange official said the nation will keep buying Treasuries and endorsed the dollar’s global role, supporting the U.S. as the Obama administration increases spending to revive growth

Geithner Asks Congress for Broad Power to Seize Firms: Treasury Secretary Timothy F. Geithner today told Congress the administration will seek unprecedented power to seize non-bank financial companies whose collapse could jeopardize the economy, a move Geithner said would have allowed the government to bail out insurance giant American International Group at a far lower cost to taxpayers.

Freeze $1.5 Qaudrillion Derivs As First Step To Recovery

National Service Bill Clears Senate Hurdle

IMF - Economic Crisis Will Engulf The World

China Calls For New Reserve Currency

China Considers Paper Gold Instead Of Dollar

Fears Of Record Hedge Fund Withdrawals

Savers Pull Money As Returns Deteriorate

Markets Buoyed By Fed $1T Bank Bailout

Barky Bribes Investors To Buy $1T Toxic Debt

Obama, Geithner Gambling With US Reputation

9 AIG Top Bonus Earners To Repay In Full

Millions Face Pay Freeze - UK Into Deflation