Helen Thomas: Not Even Nixon Tried to Control the Media Like Obama Running On Empty 7 more banks fail as FDIC mulls rules for sales: Six Illinois banks and one bank in Texas were shuttered Thursday as government regulators proposed new rules for private equity firms seeking to take over failed banks. Chamber of Commerce Launches $100 Million Campaign to Protect Wall Street's Power at Our Expense: The CoC is the world's most powerful lobbying machine and it's working to make sure our money gets funneled to corporate execs. The New Homeowner Hallucination: : The next segment of the market to crash will be the mid- to high-end, where many smug homeowners are now telling themselves they'll just rent their houses for a year while they wait for the market to "come back." Needless to say, Mark thinks these folks are dreaming. Woman Commits Suicide to Avoid Eviction: Newnam documented her life on Twitter as user rsangel04. Her last post on June 24 read, "Rich get richer, poor get poorer, families on the street, govt doesn't care. God bless the usa, but can He save it?"
By Penny Starr and Fred Lucas
“I’m not saying there has never been managed news before, but this is carried to fare-thee-well--for the town halls, for the press conferences,” she said. “It’s blatant. They don’t give a damn if you know it or not. They ought to be hanging their heads in shame.” Continue
By Mike Whitney
Consumer spending is 70% of GDP, but consumers have suddenly stepped on the brakes. This is a real game-changer. Even if the credit markets are restored and the banks show a greater willingness to lend; there will be no return to the pre-crisis consumption-levels of the past. Those days are over. Continue
Saturday, 4 July 2009
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