" –That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, –That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government,… organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness." The Declaration of Independence
How many more lies must we listen to? How many more (...)
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These Are the Times That Try Men’s Souls
11 October 2008 par (Open-Publishing)
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PANIC DECLARED Empty store shelves, gas pumps, ATMs ahead.
9 October 2008 par (Open-Publishing)
Who am I to declare a panic? Don’t worry about that yet; just stock up on a little cash and canned goods. When everything the feds do JUST MAKES THINGS WORSE — we are in a panic. Not just grandpa’s Depression, but a good old-fashioned running-scared panic when the shelves go bare (you can see it sporadically in some Targets now) because the stores or their venders run short on ready cash. A panic is a time when people hoard things and wait to be rewarded with lower prices, which of (...)
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The Shot Heard Round the World
9 October 2008 par (Open-Publishing)
3 commentsBy David Glenn Cox
When 90-year-old Addie Polk put the gun to her chest and pulled the trigger she was seeking an escape from foreclosure. The first shot failed to do the job so the elderly widow pulled the trigger a second time as Sheriff’s deputies waited on the porch to serve her with an eviction notice. She was rescued by her neighbor, Robert Dillion, who grabbed a ladder and climbed in a back window. Sheriff’s deputies were kind enough to radio for paramedics.
Mrs. Addie Polk and (...) -
After Bailout, AIG Executives Head to Resort
9 October 2008 par (Open-Publishing)
by Peter Whoriskey
Less than a week after the federal government offered an $85 billion bailout to insurance giant AIG, the company held a week-long retreat for its executives at the luxury St. Regis Resort in Monarch Beach, Calif., running up a tab of $440,000, Rep. Henry Waxman (D-Calif.) said today at the the opening of a House committee hearing about the near-failure of the insurance giant.
Showing a photograph of the resort, Waxman said the executives spent $200,000 for rooms, (...) -
“Invasion Of The Sea-Smurfs”
9 October 2008 par (Open-Publishing)
By Amy Goodman
Democracy Now!
A little-noticed story surfaced a couple of weeks ago in the Army Times newspaper about the 3rd Infantry Division’s 1st Brigade Combat Team. “Beginning Oct. 1 for 12 months,” reported Army Times staff writer Gina Cavallaro, “the 1st BCT will be under the day-to-day control of U.S. Army North, the Army service component of Northern Command, as an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks.” (...) -
BAILOUT: America’s Financial Ruin
8 October 2008 par (Open-Publishing)
BAILOUT: America’s Financial Ruin
By Patrick Wood, Editor October 6, 2008
When push came to shove, Humpty Dumpty discovered the shortest distance to the cobblestones below: straight down.
Being quite dead, Humpty’s body is stinking up the whole neighborhood. The eyewitnesses call it murder. The coroner, bypassing the eyewitnesses, rules it an accident. The public clamors for taxpayer funds to clean up the mess. Congress passes a bill for superglue to be liberally applied to the (...) -
Betrayed by the bailout: The death of democracy
7 October 2008 par (Open-Publishing)
Online Journal Oct 6, 2008
By William John Cox Online Journal Contributing Writer
On Friday, October 3, 2008, the American people were betrayed by those whom they had elected to represent them. The members of Congress who voted for the Wall Street “bailout” violated their oath of office to “support and defend the Constitution” . . .”that I will bear true faith and allegiance to the same” . . .”and that I will well and faithfully discharge the duties of the office on which I am about to (...) -
Bail Out The Homeowners! By Paul Craig Roberts
7 October 2008 par (Open-Publishing)
Counterpunch 04 October, 2008
I s the Paulson bailout itself as big a fraud as the leveraged subprime mortgages?
Yesterday, here on CounterPunch , I discussed the bailout as proposed and noted that the proposal cannot succeed if it impairs the US Treasury’s credit standing and/or the combination of mark-to-market and short-selling permits short-sellers to prosper by driving more financial institutions into bankruptcy.
A reader’s comment and an article by Yale professors Jonathan (...) -
Iceland Risks Bankruptcy, Leader Says
7 October 2008 par (Open-Publishing)
Iceland Risks Bankruptcy, Leader Says
By CHARLES FORELLE
REYKJAVÍK, Iceland — Saying Iceland was at risk of "national bankruptcy," Prime Minister Geir Haarde prepared to give regulators authority to take over the nation’s ailing banks as a worsening financial crisis all but cut off the island from the global financial system.
Credit lines to Iceland’s banks closed down Monday, Mr. Haarde said in a televised address. Late Monday, Iceland’s parliament was voting on an emergency law (...) -
Royal Bank of Scotland down 39%
7 October 2008 par (Open-Publishing)
European Stocks Fall, Led by RBS, Barclays; U.S. Futures Drop By Michael Patterson
Oct. 7 (Bloomberg) — European stocks fell for a second day as concern that financial firms may need more capital overshadowed speculation central banks around the world will reduce borrowing costs. U.S. index futures and Asian shares declined.
Royal Bank of Scotland Group Plc tumbled 39 percent after the bank had its credit rating cut for the first time in 10 years on a weak ``financial profile.’’ Asian (...)