Joe Average November 2008
The largest debt bubble in the history of mankind is on the verge of deflating and collapsing as world leaders and central bankers fly around the globe to one crisis meeting after another. No sooner is one panic quelled or some hasty band-aid fix slapped into place to stop a financial collapse, then another breaks out somewhere else. The bad news just keeps on coming; ICELAND...Bankrupt...Oct.2008 nationalises banks; turns to International Monetary Fund for help. (…)
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Time To Bunker Down - Global Panic Spreads
2 November 2008 par (Open-Publishing)
1 comment -
It’s The Money, Stupid!: Over $1 Billion Raised for Prez Race!
31 October 2008 par (Open-Publishing)
“Politics has become so expensive that it takes a lot of money even to be defeated.” - Will Rogers
Back in the late 50s, I was an aide-de-camp to the Hon. Michael J. “Iron Mike” McHale, 6th District City Councilman in Baltimore City. Around that time, there was a hotly contested citywide municipal election going on. McHale, now deceased, went to a meeting with the then leader of his South Baltimore organization, Julian “Fats” Carrick. They met in a downtown office, with Philip H. (…) -
Banks to Continue Paying Dividends
30 October 2008 par (Open-Publishing)
1 commentBy Binyamin Appelbaum
U.S. banks getting more than $163 billion from the Treasury Department for new lending are on pace to pay more than half of that sum to their shareholders, with government permission, over the next three years.
The government said it was giving banks more money so they could make more loans. Dollars paid to shareholders don’t serve that purpose, but Treasury officials say that suspending quarterly dividend payments would have deterred banks from participating in the (…) -
Video: Why the U.S. Economy is Going to Get Much Worse
29 October 2008 par (Open-Publishing)
Find out the shocking truth about who really caused the U.S. financial crisis.
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The “dirty little secret” of the US bank bailout
29 October 2008 par (Open-Publishing)
The “dirty little secret” of the US bank bailout
27 October 2008
In an unusually frank article published in Saturday’s New York Times, the newspaper’s economic columnist, Joe Nocera, reveals what he calls "the dirty little secret of the banking industry"—namely, that "it has no intention of using the [government bailout] money to make new loans."
As Nocera explains, the plan announced October 13 by Treasury Secretary Henry Paulson to hand over $250 billion in taxpayer money to the (…) -
Financial Crisis: Jean Ziegler calls "Nuremberg Trials" for bankers
28 October 2008 par (Open-Publishing)
Financial Crisis: Jean Ziegler calls "Nuremberg Trials" for bankers
Claudio Habicht
The controversial Geneva sociologist provides again for sedition. He hopes that those responsible for the crisis before an international court.
The Geneva sociologist and former SP is a member of the National Advisory Board of the UN Human Rights Council.
Actually, there should be an interview about his new book, which is the growing hatred of the Third World to the West theme. But Jean Ziegler can be (…) -
How the masters of the universe outsmarted themselves
27 October 2008 par (Open-Publishing)
How the masters of the universe outsmarted themselves Online Journal Oct 21, 2008, 10:23
How the masters of the universe outsmarted themselves, but don’t count them out yet
By Chronis Polychroniou
Online Journal Contributing WriterBy
Ralph Nader Wall Streer Protest Oct 16th Photo: Joëlle Pénochet
Even though it probably has deeper and more structural causes associated with it, perhaps due to over-accumulation, to use an old-fashioned Marxist economic term, the September-October (…) -
Three Challenges for the Planet - Jeffrey Sachs (video)
23 October 2008 par (Open-Publishing)
Earth Institute Director Jeffrey Sachs outlines what are, in his view, the three greatest challenges to peace the world will face over the next several years.
One of the world’s leading experts in aid and economic and sustainable development, Professor Jeffrey Sachs, gave a free public lecture at the University of Sydney on Tuesday, 15 July, 2008, to mark the opening of the University’s new Institute for Sustainable Solutions.
Professor Jeffrey Sachs is Professor of Health Policy and (…) -
Wanted: a new financial order
18 October 2008 par (Open-Publishing)
Brown, Merkel, and Sarkozy propose a Bretton Woods II to be held in New York sometime after November 4.
DOUG SAUNDERS
From Saturday’s Globe and Mail October 18, 2008 at 12:05 AM EDT
BRUSSELS — A week ago, French President Nicolas Sarkozy and German Chancellor Angela Merkel found themselves strolling together through the cobble-stoned streets of Colombey-les-Deux-Églises, a tiny village in the northeast of France, where they were attending a war-memorial ceremony.
The town is known (…) -
Inside the Financial Tsunami: What Brought It On?
11 October 2008 par (Open-Publishing)
2 commentsThe financial tsunami now inundating global economies and markets was brought on by imprudent easing of US lending norms and extreme over-leveraging by giant US investment banks, analysts say.
The dotcom bubble burst in 2000 and the collapse of the World Trade Centre, a mighty symbol of US economic and financial prowess in 2001, made Alan Greenspan, the then chief of the US banking regulator, the Federal Reserve, believe that a US recession was a certainty and it had to be staved off. (…)