Author Archives for admin
Something big is going on
The following statement is written by Congressman Paul about the pending financial disaster. He will introduce this statement as a special order and insert it into the Congressional Record.
I have, for the past 35 years, expressed my grave concern for the future of America. The course we have […]
Site changes direction
Instead of ripping off other people’s articles I’m going to write my own commentary; and post a weekly set of external news links.
Bankers unhappy at G7 Politicians taking all the cake, enter tug-of-war.
A furious confrontation between Group of Seven financial leaders and the leading global banks took place when the two sides met at the US Treasury over the weekend.
Financial leaders, including Chancellor Alistair Darling, were stunned by the bankers’ lack of remorse in the face of the credit crunch.
Instead of expressing regret for the sub-prime […]
G7 discuss how to best print money in tandem, transfer bad debts to taxpayers, and assign themselves greater regulatory power.
Group of Seven ministers will today discuss a major new coordinated bail-out of the stricken banking system, with the aim of preventing the credit crunch from spiralling out of control.
The meeting comes a day after the Bank of England announced a quarter-point rate cut that financial players fear will do little or nothing to […]
Expand the powers of those responsible
NEW YORK (CNNMoney.com) — Treasury Secretary Henry Paulson proposed a set of sweeping changes on Monday aimed at modernizing the nation’s financial system in what could herald the biggest regulatory overhaul of Wall Street since the Great Depression.
The plan, which would broadly expand the Federal Reserve’s powers, comes as concerns about the housing crisis […]
MONOCLE GREASE AND PENNY FARTHING OIL REMOVED FROM INFLATION BASKET
TYPICAL household goods including monocle grease and penny farthing oil have been removed from the basket of items used to measure inflation.
The new basket will include a range of modern, everyday purchases including spats, violin cases and sheet music for Dixieland jazz.
[ read article ]
BANKS USE MAN-EATING TIGERS TO DETER NEW BORROWERS
BRITAIN’S leading mortgage lenders are to deter new customers with a range of tactics including man-eating tigers and a huge Arab warrior armed with a mighty sword.
[ read article ]
BUY-TO-LET INVESTORS AGE 1,000 YEARS IN FOUR SECONDS
THOUSANDS of buy-to-let investors are ageing 1,000 years in around four seconds after receiving the latest valuations of their rented properties.
Nikki Hollis, said her husband Tom crumbled to ashes at the breakfast table shortly after opening a letter from his bank.
She said: “He kept telling everyone we were loaded because he’d bought ten flats […]
Why is the US economy crashing?
There has been no shortage of commentators and players willing to vouch that this is the worst financial crisis they have ever seen. Equally, there has been no shortage of bailout moves by the Federal Reserve–remedies that put “the Greenspan Put” to shame in their magnitude.
And yet the market meltdown continues, and the casualties […]
Foreign investors veto Fed rescue
As feared, foreign bond holders have begun to exercise a collective vote of no confidence in the devaluation policies of the US government. The Federal Reserve faces a potential veto of its rescue measures.
[ read article ]
