S&P Downgrades Britain’s Banking Industry

Standard & Poor’s blames move on Britain’s weak economic environment and banks’ dependence on state supportNorthern Rock, one of the banks in which the British government has a majority stake. Standard & Poor’s said reliance on state support contributed to its move to downgrade the banking industry’s ratingBritain’s banking industry was downgraded by the international [...] continue reading world news

Controller: Pennsylvania Capital Should Weigh Bankruptcy

The Pennsylvania State Capitol building seen from State Street in Harrisburg.Jan. 26 (Bloomberg) — Harrisburg, Pennsylvania, the capital of the sixth-largest U.S. state by population, should skip a $2.2 million debt service payment due Feb. 1 and consider bankruptcy, City Controller Dan Miller said.Harrisburg faces $68 million in payments this year in connection with a [...] continue reading world news

Rep. John Mica encourages Treasury Secretary Geithner to resign

Added: 27. Januar 2010- SEC Mulled National Security Status For AIG Bailout Details (Reuters)- America’s Impending Master Class Dictatorship! (Kitco)- Ron Paul on FOX NEWS: Wall Street Bailout FRAUD- The No.1 Trend Forecaster Gerald Celente: Financial Mafia Controlling US and Wall Street (RT)- Senator Jim Bunning: SEC Should Probe NY Fed Staff Over AIG (Bloomberg)- [...] continue reading world news

High Frequency Trading Raises Meltdown Fears

Meltdown? Fear?“We are doing God’s work!”(Click on image to enlarge.)(Financial Times) — An explosion in trading propelled by computers is raising fears that trading platforms could be knocked out by rogue trades triggered by systems running out of control.Trading in equities and derivatives is being driven increasingly by mathematical algorithms used in computer programs. They [...] continue reading world news

Verizon to Cut 13,000 Jobs

See also:- Sam’s Club cuts 11,200 jobs, 10 percent of workforce(AP)Jan. 26 (Bloomberg) — Verizon Communications Inc., coping with subscriber losses at its fixed-line phone business, plans to cut about 13,000 jobs at the division this year after posting fourth-quarter revenue that missed analysts’ estimates.The cuts will follow reductions of a similar size last year, [...] continue reading world news

Sam’s Club cuts 11,200 jobs, 10 percent of workforce

SAN FRANCISCO (Reuters) - Sam’s Club, the warehouse club division of Wal-Mart Stores Inc is cutting roughly 11,200 jobs, or about 10 percent of its workforce, as it outsources in-store product demonstrations and eliminates positions used to recruit new business members.Sam’s Club Chief Executive Officer Brian Cornell said on Sunday that the retailer would outline [...] continue reading world news

FDIC Seizes Five Banks; US bank failure tally hits 9 for 2010

And the FDIC is broke.Regulators seized five banks in Florida, Missouri, New Mexico, Oregon and Washington, lifting the total number of failures this year to nine as financial institutions struggle with loan defaults and a weak economy.Two of the five institutions had assets of more than $1 billion. The Florida bank, in Miami, was sold [...] continue reading world news

The CFR Controls American News/Media

Related information:- Foreign Policy Address at the Council on Foreign Relations:Hillary Rodham ClintonSecretary of StateWashington, DCJuly 15, 2009“Thank you very much, Richard, and I am delighted to be here in these new headquarters. I have been often to, I guess, the mother ship in New York City, but it’s good to have an outpost of [...] continue reading world news

‘Surprise’ rise in new US jobless claims

‘Unexpectedly’!There is no recovery.(Financial Times) — The number of US workers making first-time claims for jobless benefits unexpectedly rose last week, as the government worked through a pre-holiday backlog of filings.Initial jobless claims climbed by 36,000 to 482,000, labour department figures showed on Thursday. That disappointed analysts, who were expecting claims to shrink, and was [...] continue reading world news

Senate Proposes Increasing US Debt Limit to $14.3 Trillion: “If Congress does not enact this legislation, and soon, then the Treasury would default on its debt for the first time in history,” said Senate Finance Committee Chairman Max Baucus

On government debt:“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” - John Adams“I wish it were possible to obtain a single amendment to our Constitution — taking from the federal government their power of borrowing.”- Thomas Jefferson “‘Washington is shifting the burden of [...] continue reading world news

Citgroup loses $7.6 Billion in fourth quarter

Battered financial giant Citigroup said Tuesday it suffered a net loss of 7.6 billion dollars in the fourth quarter of 2009, resulting in a full year loss of 1.6 billion dollars.Citigroup said its fourth quarter revenues were 5.4 billion dollars, or 15.5 billion dollars excluding a repayment of a government bailout loan, down from 20.4 [...] continue reading world news

The No.1 Trend Forecaster Gerald Celente: Financial Mafia Controlling US and Wall Street

‘Fascism is coming to America’, says Gerald Celentevar VideoID = "9493"; var Width = 485; var Height = 307;Added: 15th Jan 10See also:- Survivor, America: ‘It’s Only Going to Get Worse,’ Gerald Celente Says- The No.1 Trend Forecaster Gerald Celente: The Terror And The Crash of 2010- Gerald Celente: ‘Their is no recovery; It’s a [...] continue reading world news

US Mortgages: Walking Away Goes Mainstream

Related information:- To all homeowners in foreclosure: Judge wipes out $460,000 mortgage debtBanks, Realtors, the Obama Administration, and credit lenders are engaging in an all out campaign to get people to honor “moral obligations” that simply do not exist.There is an interesting post on Tech Ticker with Henry Blodget called Yes, It’s Okay To Walk [...] continue reading world news

Larry Summers, Robert Rubin: Will The Harvard Shadow Elite Bankrupt The University And The Country?

By Harry R. Lewis: Gordon McKay Professor of Computer Science at Harvard and former Dean of Harvard CollegeMUST-READ!Harvard UniversityHarvard’s Secret SevenAt the heart of the new system of power, says Janine Wedel, is “a decline in loyalty to institutions” and “the proliferation of players who swoop in and out of organizations with which they are [...] continue reading world news

Fake Gold Bars in Fort Knox! What’s Next? The IMF sold Gold plated tungsten bars to India ?!

I have posted this primarily to get your thoughts on this issue.Brilliant comments please!In Ethiopia it were just gold-plated steel bars (=stupid fraud):- Fake fears over Ethiopia’s gold (BBC NEWS, 13 March 2008):Ethiopia’s national bank has been told to inspect all the gold in its vaults to determine its authenticity.It follows the discovery that some [...] continue reading world news

A global fiasco: Japan is about to blow up

Looks like the world is in big trouble:- Experts: Dollar Crisis Looms if US Doesn’t Curb Debt (Reuters)-  Marc Faber on Coming Sovereign Debt Crisis: Next Countries to Default are the US, Japan and the ‘PIIGS’ (Yahoo Finance)- Fitch: US Must Cut Spending To Save [...] continue reading world news

S&P downgrades California’s credit rating again as cash crunch looms

SAN FRANCISCO (Reuters) - California’s main debt rating was cut on Wednesday by Standard & Poor’s, which said the government of the most populous U.S. state could nearly run out of cash in March — and another rating cut might follow.The state government’s budget gap of nearly $20 billion over the next year and a [...] continue reading world news

US slides deeper into depression as Wall Street revels

December was the worst month for US unemployment since the Great Recession began. History repeating itself? President Obama has been accused by some economists of making the same mistakes policymakers in the US made in the Great Depression, which followed the Wall Street crash of 1929, pictured Photo: APThe labour force contracted [...] continue reading world news

Survivor, America: ‘It’s Only Going to Get Worse,’ Gerald Celente Says

“It’s only going to get worse,” is the sobering forecast of Gerald Celente, director of the Trends Research Institute. As discussed in a prior segment, Celente believes the “bailout bubble” is going to burst and the U.S. economy will slip back into recession, if not worse, in 2010.Like all forecasters, Celente isn’t always right but [...] continue reading world news

FDIC seizes Horizon Bank, first US bank failure of 2010

WASHINGTON, Jan 8 (Reuters) - U.S. regulators closed Horizon Bank (HRZB.O) of Bellingham, Washington, on Friday, kicking off what has been forecast as a peak year for small bank failures.The Federal Deposit Insurance Corp said Horizon Bank had approximately $1.3 billion in total assets and $1.1 billion in total deposits as Sept. 30.Friday’s bank failure [...] continue reading world news

PIMCO’S Bill Gross: ‘Let’s Get Fisical’ (… or why the US will not make it.)

On Thursday I had posted Bloomberg’s summary on the monthly investment outlook by PIMCO’s Bill Gross:- PIMCO’s Bill Gross warns on risks of US deficit: ‘Our government doesn’t work anymore, or perhaps more accurately, when it does, it works for special interests and not the American people.’But that summary missed a lot of important points.Here [...] continue reading world news

Timothy Geithner’s Fed Told AIG to Limit Swaps Disclosure

See this:- New York Fed’s Secret Choice to Pay for AIG Swaps Squandered Billions of Taxpayer Money (Bloomberg)Timothy Geithner, U.S. treasury secretary, speaks at a Congressional Oversight Panel on the Troubled Asset Relief Program (TARP), in Washington, D.C. (Bloomberg)Jan. 7 (Bloomberg) — The Federal Reserve Bank of New York, then led by Timothy Geithner, told [...] continue reading world news

PIMCO’s Bill Gross warns on risks of US deficit: ‘Our government doesn’t work anymore, or perhaps more accurately, when it does, it works for special interests and not the American people.’

Wake up America!- Peter Schiff on Fast Money: ‘America is broke’; ‘The Fed created a currency crisis’; ‘Dollar to collapse 50-70% or more’- US: Public Pensions Face $2 Trillion Deficit- U.S. Avoids Technical Default By Three DaysGross warns on risks of US deficitBill GrossJan. 7 (Financial Times) - Bill Gross, the influential bond fund manager [...] continue reading world news

Peter Schiff on Fast Money: ‘America is broke’; ‘The Fed created a currency crisis’; ‘Dollar to collapse 50-70% or more’

var VideoID = "9293"; var Width = 485; var Height = 307;Added: 5th Jan 2010The Fed and the US government are destroying America:- US: Public Pensions Face $2 Trillion Deficit- U.S. Avoids Technical Default By Three Days- As an American, I refuse to buy mandatory health insurance … that supports Big Pharma- The US Government [...] continue reading world news

The US Government Is Preparing For Collapse: Your Legal Right To Redeem Your Money Market Account Has Been Denied

Must-read! Don’t miss to take a close look at the members of the the Group of Thirty!When Henry Paulson publishes his long-awaited memoirs, the one section that will be of most interest to readers, will be the former Goldmanite and Secretary of the Treasury’s recollection of what, in his opinion, was the most unpredictable and [...] continue reading world news

SERCO: The Biggest Company You’ve Never Heard Of

var VideoID = "9238"; var Width = 485; var Height = 307;Date: 31st Dec 09 continue reading world news

Gordon Brown accused of “fantasy” over public debt as changes tack

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” - John Adams The elite puppet Prime Minister Brown is looting the taxpayer all of the time with dire consequences:- Fitch warns: Britain and France risk losing their AAA rating- Moody’s warns of ’social unrest’ [...] continue reading world news

Joe Saluzzi of Themis Trading on High Frequency Trading (Bloomberg)

Added: 30. December 2009 continue reading world news

US: More Ammo For The Treasury Bazooka

Treasury has reloaded its bazooka and stands ready to shock and awe the housing market.Though, Standard & Poor’s/Case-Shiller data showed a fifth month of improvement yesterday, analysts still expect prices to fall 10 percent or more next year as various government supports wind down.Political pressure ahead of midterm elections will likely force the administration to [...] continue reading world news

Goldman Sachs: Investors Could Only Lose in Offshore Deals

NEW YORK — When financial titan Goldman Sachs joined some of its Wall Street rivals in late 2005 in secretly packaging a new breed of offshore securities, it gave prospective investors little hint that many of the deals were so risky that they could end up losing hundreds of millions of dollars on them.McClatchy has [...] continue reading world news