Trouble in Banktopia $700 billion or Armageddon? Sounds like sci-fi The End of Voodoo Economics Tragedy in the Making in Washington and on Wall Street: Keating 5 Ring a Bell? Obama Out-Hawks McCain U.S. Raids on Pakistan Iran Resolution Shelved in
The financial system is blowing up. Don't listen to the experts; just look at the numbers.
By Mike Whitney
The carnage from Greenspan's low interest rate, "easy money" binge is now visible everywhere. Inflated home and stock values are crashing as the gas continues to escape from the massive equity bubble. The FDIC will have to be recapitalized--perhaps, $500 billion--to account for the anticipated loss of deposits from failing banks caught in the cross-hairs of asset-deflation and steadily contracting credit. Continue
Put $700 billion in the bag and no one gets hurt.
By Ken Kam
The more I hear about Henry Paulson's plan, the less convinced I am it's worth $2,000 from every American. The predictions of financial Armageddon without it don't ring true. Continue
By Ian Williams
No one can say that current events are a one-off. The get-government-out-of-business brigade, the masters of the universe, have in their three decades of unbridled power produced the savings and loan bail-out, the Mexican bond bail-out, the Asian currency crisis, the Enron and other related scandals, the tech bubble, the Long-Term Capital Management collapse and rescue, a wage freeze for working Americans and now this. Continue
The Canadian Solution
By Rodrigue Tremblay
This is something that the Bush administration and the U.S. Congress might want to consider if they hope to get out of the ideological and political deadlock they have talked themselves into.Continue
McCain's past collides with the present Wall Street debacle.
By Rosa Brooks
Once upon a time, a politician took campaign contributions and favors from a friendly constituent who happened to run a savings and loan association. The contributions were generous: They came to about $200,000 in today's dollars, and on top of that there were several free vacations for the politician and his family, along with private jet trips and other perks. Continue
By Katrina Vanden Heuvel
Obama risks creating a bipartisan consensus that will entrap the US in another costly occupation---draining resources needed to fulfill his (already limited) promises for economic growth, health care and social justice at home. Such escalation will also crowd out other international initiatives and alienate those allies we need to reengage the world on terms other than the so-called "war on terror." Continue
Violations of Sovereignty
By Brian Cloughley
Henry Kissinger was no amateur when it came to illegally bombing and invading countries that he and the evil President Nixon considered did not meet American requirements of unconditional servility, but even he must be intrigued about the latest antics of Washington’s finest. Continue
Rare Defeat for 'Israel Lobby'
By Jim Lobe
In a significant and highly unusual defeat for the so-called 'Israel Lobby', the Democratic leadership of the House of Representatives has decided to shelve a long-pending, albeit non-binding, resolution that called for President George W. Bush to launch what critics called a blockade against Iran. Continue
Sunday, 28 September 2008
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