Friday, 3 October 2008

Hoax Bank Closure Story Peddles Bailout Propaganda 

A hoax Internet rumor that has been doing the rounds over the last few days posits that unless the House follows the Senate in approving the bailout bill tonight then all U.S. banks will be forced to close for one week.

The scam is noteworthy because it echoes the fearmongering rhetoric being spewed by the White House, while the source of the claim leads back to an alleged FBI informant.

• Why the Bailout Stinks
• Stocks hit fresh lows on bailout fears
• Former Head of Fed’s Open Market Ops Says Bailout Might Make Things Worse
• MSM Ignores Hidden Carbon Tax Provisions in Paulson’s Bailout 2.0
• California may need emergency $7 billion loan: report
• A Bill That Deserves to Fail
• 
Collapse Is Not the End, But a Beginning

Can a Bailout Succeed?

While the U.S. Senate predictably capitulated to the demands of Wall Street last night, for the first time in recent memory the House listened to the American people and blocked Paulson’s bailout of his rich buddies by US taxpayers.

• Passing the “Emergency Economic Stabilization Act of 2008?
• 
Central banks favor gold as crisis unfolds 
 Why Ireland Will Destroy the Euro

US seizes ‘$5bn of Saddam’s assets’

Washington has seized $5 billion as blood money for the ouster of Iraqi dictator Saddam Hussein, an Iraqi security official has revealed.

• Chicago woman buys a house for $1.75

US economic dominance over - Russia

THE era of US global economic dominance is over and the world now needs a new and “more just” financial system, Russian President Dmitry Medvedev said today.

• Russia to deploy new nuclear missile

Expert: Iran strike would cause ’serious depression’

A former CIA agent and expert on Iran offered a grim assessment on Tuesday of American options in dealing with that nation, saying that “sanctions have failed,” surgical strikes will lead to unacceptable retaliation against US interests, but a conventional war and invasion would “look like World War III.”

• Euro Falls to 13-Month Low Versus Dollar; ECB Debated Rate Cut