The era of greed and irresponsibility on Wall Street and in Washington has created a financial crisis as profound as any we have faced since the Great Depression. Congress and the President are debating a bailout of our financial institutions with a price tag of $700 billion or more in taxpayer dollars. We cannot underestimate [...]
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The Federal Reserve says it has granted a request by the country’s last two major investment banks —Goldman Sachs and Morgan Stanley—to change their status to bank holding companies. The change in status will allow them to create commercial banks that will be able to take deposits, bolstering the resources of both institutions.read more | [...]
US taxpayers may be on the hook for one of the biggest frauds in US history. Taxpayers are mad as hell about the US government’s decision to bail out Wall St with $700 Billion US dollars leaving the taxpayer on the hook. Reminds me of the movie Network 1976 with everyone screaming “I’m Mad As [...]
Economist, not exactly a bastion of liberalism, finally says it like it is: McCain team’s lies have taken the campaign to new lows. Choosing Palin is a cynical move that has “placed abortion, the most divisive cultural issue in America, at the centre of his campaign”, and a demonstrable novice a “72-year-old heartbeat away from [...]
Treasury Secretary Henry Paulson called coverage of foreign banks “a distinction without a difference to the American people.” Continuing: “If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people…”read more | digg [...]
oon, we ’ll probably be seeing Lithium Iron Phosphate (LiFePO4) batteries being used in most electric cars and bikes. This new battery type is set to dominate the market.read more | digg story
I don’t always agree with the man. But he makes an INCREDIBLE point here!
The Bush administration is asking Congress to let the government buy $700 billion in bad mortgages as part of the largest financial bailout since the Great Depression. The plan would give the government broad power to buy the bad debt of any U.S. financial institutions for the next two years. It also would raise the [...]
Once again, Ron Paul accurately predicted the fall of major financial institutions. Unlike Barack Obama and McCain, Ron Paul’s main advisor is the U.S. Constitution. He looks at the history of the FIAT monetary systems and what the founding fathers said about such as system. “I place economy among the first and most important republican [...]