Trouble in Banktopia 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. http://www.informationclearinghouse.info/article20883.htm ==== $700 billion or Armageddon? Sounds like sci-fi 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. http://www.informationclearinghouse.info/article20884.htm ==== The End of Voodoo Economics 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. http://www.informationclearinghouse.info/article20885.htm === Tragedy in the Making in Washington and on Wall Street: 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. http://www.informationclearinghouse.info/article20888.htm ==== Keating 5 Ring a Bell? 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. http://www.informationclearinghouse.info/article20889.htm ==== Obama Out-Hawks McCain 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." http://www.informationclearinghouse.info/article20890.htm ==== U.S. Raids on Pakistan 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. http://www.informationclearinghouse.info/article20882.htm ==== Iran Resolution Shelved in 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. http://www.informationclearinghouse.info/article20880.htm ==== Statement of Senator Obama on President Ahmadinejad's Remarks By Amanda Scott I strongly condemn President Ahmadinejad's outrageous remarks at the United Nations, and am disappointed that he had a platform to air his hateful and anti-Semitic views. http://www.informationclearinghouse.info/article20879.htm ==== The Illusion of Sovereignty By Soraya Sepahpour-Ulrich Perhaps sovereignty is relative; how else can one explain the subjugation of the most powerful industrial nations to the will of another while under the delusion of independence, national interest, democracy, and even capitalism? A single country, Israel and its powerful lobby AIPAC have altered the course of history in America and by extension, the rest of the world. http://www.informationclearinghouse.info/article20887.htm ==== King David Recruited to Expel Palestinians By Jonathan Cook Archaeology becomes a curse for Jerusalem village. http://www.informationclearinghouse.info/article20881.htm ==== Human Rights Watch in Venezuela Lies, Crimes and Cover-ups By James Petras HRW's systematic failure to mention the advances experienced by the majority of Venezuelan citizens, while peddling outright lies about civic repression , is characteristic of this mouthpiece of Empire. http://www.informationclearinghouse.info/article20886.htm ==== more here: http://tinyurl.com/dy6yy ==== U.S.: Soldiers Tell of Detainee Abuse in Iraq: Torture and other abuses against detainees in U.S. custody in Iraq were authorized and routine, even after the 2004 Abu Ghraib scandal, according to new accounts from soldiers in a Human Rights Watch report released today. http://www.hrw.org/english/docs/2006/07/19/usint13767.htm ==== Contractor says immune from Iraq torture lawsuits: Defense contractor CACI (KA'-kee) claims it should be immune from lawsuits alleging torture at Abu Ghraib prison in Iraq, saying it was doing the U.S. government's work as a supplier of interrogators. http://news.yahoo.com/s/ap/20080926/ap_on_re_us/abu_ghraib_lawsuits ==== Frank Expects Bailout Agreement By Sunday: "I'm convinced that by Sunday we will have an agreement that people can understand on this bill," predicted Massachusetts Rep. Barney Frank, a key Democrat in eight days of up-and-down talks designed to stave off an economic crisis. http://tinyurl.com/4u7lfs === Economics Expert: Fiscal Cracks Extend Beyond U.S.: Johnson says the presidential candidates both avoided questions about the bailout in their Friday debate. The U.S. has to look outside itself - "This is a global problem," he says, and it's worrisome that other nations haven't wanted to step up and help find a solution. http://www.npr.org/templates/story/story.php?storyId=95128699&ft=1&f=1006 ==== ROYAL Bank of Scotland will get 'billions' in US bail-out: The bank's share of the bail-out will enable RBS to offload billions of dollars of questionable assets. http://www.sundayherald.com/news/heraldnews/display.var.2453817.0.0.php --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "ShadowGovernment" group. 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