By Patrick J. Buchanan
When America is about to throw an ally to the wolves, we follow an established ritual. We discover that the man we supported was never really morally fit to be a friend or partner of the United States.
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November 2nd, 2009
November 2nd, 2009
By Greg Gordon — McClatchy Newspapers When she wrote to [Henry aka Hank] Paulson, lawyers for Goldman denied that it owned the Beckers’ mortgages. So did Germany’s Deutsche Bank, a trustee that was holding thousands of subprime mortgages Goldman had converted to bonds…. ![]() Tony and his wife, Celia When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced firsthand the perils of subprime mortgages. The couple wound up in a desperate, six-year fight to keep their modest, 1,500-square-foot San Jose home, a struggle that pushed them into bankruptcy. November 2nd, 2009
by Robert Fisk – The Independent, UK
Amira Hass was spot on when she said last week that her lifetime women’s award was an award for failure. The West Bank correspondent of the Israeli paper Haaretz eloquently explained herself on al-Jazeera’s English channel. She received an award for failure, she said, because despite all the facts that she and her journalistic colleagues had explained about Israeli occupation in Palestine, the world still did not understand what occupation meant and still used words like “terror” and “war on terror”. Amira was absolutely correct. Most of our Western press and television are as gutless as ever when they have to participate in what Noam Chomsky described as “the manufacture of consent”. November 2nd, 2009
by Greg Gordon – McClatchy Newspapers
Despite updating its numerous disclosures to investors in 2007, Goldman never revealed its secret wagers…. WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Goldman’s sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation’s premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies. |
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