The Bailout Is NOT Limited to $700 Billion, Paulson Could Spend UNLIMITED Taxpayer Money

Most people think that the proposed bailout will cost $700 billion. In fact, it is not limited to $700 big ones, and will probably go much higher.Specifically, Paulson’s draft bailout plans says:“The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.”That means that Paulson could [...] continue reading world news

Goldman Sachs, Morgan Stanley Become Banks, Ending an Era for Wall Street

U.S. flags fly outside the headquarters of Goldman Sachs Group Inc., in New York, Sept. 16, 2008. Photographer: Gino Domenico/Bloomberg NewsSept. 22 (Bloomberg) — The Wall Street that shaped the financial world for two decades ended last night, when Goldman Sachs Group Inc. and Morgan Stanley concluded there is no future in remaining investment banks [...] continue reading world news

Dollar May Get `Crushed’ as Traders Weigh Up Bailout

U.S. one dollar bills are displayed for a photograph in New York, April 15, 2008. Photographer: Daniel Acker/Bloomberg NewsSept. 22 (Bloomberg) — Treasury Secretary Henry Paulson’s plan to end the rout in U.S. financial markets may derail the dollar’s three-month rally as investors weigh the costs of the rescue.The combination of spending $700 billion on [...] continue reading world news

China toxic milk sickens 53,000 as scare spreads

BEIJING (AFP) - China’s tainted milk scandal spiralled into uncharted territory Monday with the government announcing that up to 53,000 children had been sickened and its top product-quality inspector sacked.In a dramatic update of previous figures, the health ministry said a total of 52,857 children were taken to hospital after drinking milk thought to have [...] continue reading world news

Crude Oil Has Biggest Gain Ever as Dollar Drops Against Euro

Traders work in the crude oil options pit on the floor of the New York Mercantile Exchange in New York, on Sept. 22, 2008. Photographer: Jin Lee/Bloomberg NewsSept. 22 (Bloomberg) — Crude oil climbed more than $25 a barrel, the biggest gain ever, as the dollar weakened the most against the euro since January 2001, [...] continue reading world news

China Shuns Paulson’s Free Market Push as Meltdown Burns U.S.

“An open, competitive, and liberalized financial market can effectively allocate scarce resources in a manner that promotes stability and prosperity far better than governmental intervention,” Paulson said.Contemplate that for a moment.Now add this to your contemplation:Section 8 of the proposed legislation says it all:“Decisions by the Secretary pursuant to the authority of this Act are [...] continue reading world news

FBI investigating companies at heart of meltdown

WASHINGTON: The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration, The Associated Press has learned.Two law enforcement officials said Tuesday the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac, and insurer American International Group Inc. [...] continue reading world news

Bernanke Signals U.S. Should Pay More for Bad Debt

Hey it’s taxpayers money, so the higher the price the better.___________________________________________________________________________Ben S. Bernanke, chairman of the U.S. Federal Reserve, testifies before the Senate Banking Committee in Washington, Sept. 23, 2008. Photographer: Joshua Roberts/Bloomberg NewsSept. 23 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke signaled that the government should buy devalued assets at above-market values to [...] continue reading world news

$5 Trillion Cash Pool Needed to Stop Rout, Ohmae Says

Sept. 23 (Bloomberg) — Treasury Secretary Henry Paulson’s $700 billion plan to buy devalued assets from financial companies is “a joke” because it doesn’t go far enough to calm markets, said Kenichi Ohmae, president of Business Breakthrough Inc.Ohmae, nicknamed “Mr. Strategy” during his 23 years as a McKinsey & Co. partner, called for a $5 [...] continue reading world news

BAILOUT: Ron Paul Educates Bernanke…yet again 9/24/2008

Source: YouTubeWednesday, September 24, 2008Dear Friends,Whenever a Great Bipartisan Consensus is announced, and a compliant media assures everyone that the wondrous actions of our wise leaders are being taken for our own good, you can know with absolute certainty that disaster is about to strike.The events of the past week are no exception.The bailout package [...] continue reading world news

Ron Paul Discussing his Bernanke Confrontation 9/24/2008

Ron Paul on Fox BusinessSource: YouTube continue reading world news

Who Killed The Electric Car?

Documentary about GM killing of the electric car. It has been here since ‘96 but they killed it off.The film features interviews with celebrities who drove the electric car, such as Mel Gibson, Tom Hanks, Alexandra Paul, Peter Horton, Ed Begley, Jr., a bi-partisan selection of prominent political figures including Ralph Nader, Frank Gaffney, Alan [...] continue reading world news

House approves $25 billion loan program for automakers

Those carmakers do not deserve a single cent and here is why:Who Killed The Electric Car? (Documentary) Documentary about GM killing of the electric car. It has been here since ‘96 but they killed it off. The “gasoline” for operating this car only costs 16 cents per gallon!_____________________________________________________________________________DETROIT - The auto industry moved a step [...] continue reading world news

FDIC May Need $150 Billion Bailout as Local Bank Failures Mount

Sept. 25 (Bloomberg) — Deborah Horn tugs on the handle of the glass-paned entrance of the IndyMac Bancorp Inc. branch in Manhattan Beach, California. The door won’t budge. The weekend is approaching, and Horn, 44, the sole breadwinner in a family of three, needs cash.A small notice taped to the window on this Friday afternoon [...] continue reading world news

Bailout Could Deepen Crisis, CBO Chief Says

Asset Sales May Lead to Write-Downs, Insolvencies, Orszag Tells CongressPeter R. Orszag, director of the Congressional Budget Office, testifies on Capitol Hill yesterday. (By Brendan Hoffman — Getty Images)The director of the Congressional Budget Office said yesterday that the proposed Wall Street bailout could actually worsen the current financial crisis.During testimony before the House Budget [...] continue reading world news

Lawmakers: Financial bailout agreement reached

Senate Banking Committee Chairman Sen. Chris Dodd., D-Conn., center, speaks during a news conference with, from left, Sen. Bob Corker, R-Tenn., Sen. Charles Schumer, D-N.Y., Sen. Robert Bennett, R-Utah, Sen. Judd Gregg, R-N.H., and Sen. Jack Reed, D-R.I., following a meeting on the market turmoil on Capitol Hill in Washington, Thursday, Sept. 25, 2008. (AP [...] continue reading world news

Belgian, Dutch Central Banks Seek Solution for Fortis

Sept. 28 (Bloomberg) — Discussions between European, Dutch and Belgian officials on the future of Fortis, Belgium’s largest financial-services firm, carried into the evening as they sought a “solution” for the beleaguered bank.Dutch central bank chief Nout Wellink and Finance Minister Wouter Bos went to Brussels for talks with the Belgian government and regulators. European [...] continue reading world news

Rep. Michael Burgess: “We Are Under Martial Law”

Rep. Michael Burgess (R-TX) reports from the floor of the House that the Republicans have been cut out of the process and called unpatriotic for not blindly supporting the fraudulent bailout. He says the only debate has been about what talking points to use on the American people. The most ominous revelation is when he [...] continue reading world news

September 15, 2008 - Bush: Economy strong enough to handle turmoil

How can anyone trust Bush and Paulson with a $ 700.000.000.000 bailout?They either lie every time they open their mouth or they have set a new world record for unlimited ignorance.__________________________________________________________________________WASHINGTON -The Bush administration signaled strongly today that troubled Wall Street should not expect more rescues from Washington.Treasury Secretary Henry Paulson declared that the current [...] continue reading world news

Bailout failure will cause US crash

The bailout has already failed, because it cannot not fail. Now nobody will laugh anymore at Ron Paul who predicted all of this chaos a long time ago.Do you remember this article? Fortis Bank Predicts US Financial Market Meltdown Within Weeks___________________________________________________________________________The US stock market could suffer a devastating crash with shares losing a third of [...] continue reading world news

Rep. Marcy Kaptur warns: There are domestic enemies to the Republic

Photo: Perpetrators of the greatest financial crime in history celebrating their fraud against the American people. Rep. Marcy Kaptur (D-OH) warns the American people about Constitutional enemies of the Republic and the fraudulent trillion(s) dollar bailout:“My message to the American people don’t let Congress seal this deal. High financial crimes have been committed.”“The normal legislative [...] continue reading world news

Fed Pumps Further $630 Billion Into Financial System

Sept. 29 (Bloomberg) — The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.The Fed increased its existing currency swaps with foreign central banks to $620 billion from $290 billion to make more dollars available worldwide. The [...] continue reading world news

Treasuries Are Dead Money With Yields Below Inflation

Sept. 29 (Bloomberg) — The rally in U.S. Treasuries may be running out of steam after yields fell to the lowest since Franklin D. Roosevelt was president.Renewed concern about the stability of the banking system sparked a run on Treasuries that drove bill rates down to 0.02 percent. Concern is so widespread that investors are [...] continue reading world news

Controlled Demolition Of The US Dollar And Banking System

Related:- Rep. Michael Burgess: “We Are Under Martial Law”- Rep. Marcy Kaptur warns: There are domestic enemies to the RepublicSource: YouTube continue reading world news

Gold and silver dealer reports an unprecedented shortage of metals

A surge for demand in gold and silver has resulted in an unprecedented shortage of the metals for retail investors in recent days, according to Gold and Silver Investments, a Dublin-based firm that allows retail investors to speculate on movements in the value of precious metals.Gold and Silver Investments director Mark O’Byrne said the supply [...] continue reading world news

U.S. Stocks Plunge After House Votes Against Bailout Plan

Sept. 29 (Bloomberg) — U.S. stocks plunged and the Standard & Poor’s 500 Index tumbled the most since 1987 after the House of Representatives voted down a $700 billion plan to rescue the financial system.Sovereign Bancorp Inc. tumbled 66 percent and National City Corp. slid 52 percent, leading financial shares in the S&P 500 to [...] continue reading world news

Home Prices in 20 U.S. Cities Declined 16.3% in July

Sept. 30 (Bloomberg) — House prices in 20 U.S. cities declined in July at the fastest pace on record, signaling the worst housing recession in a generation had yet to trough even before this month’s credit crisis.The S&P/Case-Shiller home-price index dropped 16.3 percent from a year earlier, more than forecast, after a 15.9 percent decline [...] continue reading world news

The $55 trillion question

The financial crisis has put a spotlight on the obscure world of credit default swaps - which trade in a vast, unregulated market that most people haven’t heard of and even fewer understand. Will this be the next disaster?(Fortune Magazine) — If Hieronymus Bosch were alive today to paint a triptych called “The Garden of [...] continue reading world news

Lehman Hedge-Fund Clients Left Cold as Assets Frozen

Barclays Capital logos are displayed on the facade of the Lehman Brothers Holdings Inc. headquarters building in New York, Sept. 24, 2008. Photographer: Gino Domenico/Bloomberg News Oct. 1 (Bloomberg) — Lehman Brothers Holdings Inc.’s bankruptcy probably means the end of hedge-fund manager Oak Group Inc. after 22 years in business.John James, who runs the Chicago-based [...] continue reading world news

Fund Manager Predicts Dow 5,000, Gold $2,000

David Tice, manager of the $1.1 billion Prudent Bear Fund, advised viewer of Bloomberg TV to move out equities into safer investmentsPosted: September 30, 2008Source: eyeblast.tv continue reading world news

Wealthy investors hoard bullion

Investors in gold are demanding “unprecedented” amounts of bullion bars and coins and moving them into their own vaults as fears about the health of the global financial system deepen.Industry executives and bankers at the London Bullion Market Association annual meeting said the extent of the move into physical gold was unseen and driven by [...] continue reading world news

ECB Keeps Rate at 4.25% Even as Recession Looms

Oct. 2 (Bloomberg) — The European Central Bank kept interest rates at a seven-year high today to curb inflation, even after the credit crunch forced governments to bail out banks and increased the likelihood of a recession.ECB policy makers meeting in Frankfurt left the benchmark lending rate at 4.25 percent, as predicted by all 58 [...] continue reading world news