Jim Rogers Calls Most Big U.S. Banks "Bankrupt" What is to be Done? We Told You What Exactly is Money?
By Jonathan Stempel
"Governments are making mistakes," he said. "They're saying to all the banks, you don't have to tell us your situation. You can continue to use your balance sheet that is phony.... All these guys are bankrupt, they're still worrying about their bonuses, they're still trying to pay their dividends, and the whole system is weakened." Continue
The End of the Washington Consensus
By Michael Hudson and Jeffrey Sommers
Austerity and “fiscal responsibility” are for other countries. America acts ruthlessly in its own economic interest at any given moment of time. It freely spends more than it earns, flooding the global economy with what has now risen to $4 trillion in U.S. government debt to foreign central banks. Continue
By David Sirota
Please, forgive me for saying it. I know it's a tad annoying, but it has to be said to America's ruling class in this humble column space. Because if it's not said here you can bet it won't be said anywhere else in the media, and it needs to be said somewhere on behalf of the millions of citizens who were right.Continue
A separation of truth and myth about our monetary system
By Jon Ronnquist
Ever wonder why your representatives in government seem helpless to make real changes to bad situations? It's because the situations are only bad from where you're standing and he or she couldn't change them if they wanted to. Continue
Jackson Jr. denies he was involved in scheme: The newspaper said businessmen with ties to the governor and congressmen discussed raising $1 million for Blagojevich to get him to appoint Jackson to the Senate. The report depicts Jackson's brother as an active participant.
Daschle's Lobbyist Wife Might Complicate New Post: Daschle's new position might be complicated by his wife, Linda Hall Daschle, who is a registered lobbyist with the Washington firm of Baker, Donelson, Bearman, Caldwell & Berkowitz.
More Americans Believe in the Devil, Hell and Angels than in Darwin's Theory of Evolution: Nearly 25% of Americans Believe They Were Once another Person
Ex-Nasdaq chair arrested on fraud charge in NYC: A former Nasdaq stock market chairman was arrested on a securities fraud charge Thursday, accused of running a fraudulent investment business that lost at least $50 billion before he confessed to senior employees it was a "giant Ponzi scheme," authorities said.
Auto Bailout: White House to the Rescue?: President Bush indicates he won't let the auto companies collapse. Treasury may tide Detroit over with remaining bank-bailout funds
Georgia, Texas Banks Shut as Foreclosures Rise; Toll Reaches 25: Georgia and Texas banks with $544 million in deposits were shut by state regulators, raising the failure toll to 25 for this year, as mortgage delinquencies and home foreclosures climb in a deepening U.S. recession.
Fed Refuses to Disclose Recipients of $2 Trillion - The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillin of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.
Fear triggers gold shortage: US treasury yields below zero
US homelessness, hunger rising: A survey cited by AFP says homelessness and hunger increased in an overwhelming majority of 25 US cities in the past year, driven by the foreclosure crisis..
Credit crunch? What credit crunch?: The credit crunch is not nearly as severe as the U.S. authorities appear to believe and public data actually suggest world credit markets are functioning remarkably well, a report released on Thursday says.
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