Jane D’Arista: Strong dollar, lower wages and relaxed regulations – Wall Street got what they wanted.
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November 13th, 2009
Jane D’Arista: Banks’ wild speculation led to the crash – it’s happening again. VIDEO: Anatomy of Casino Capitalism Pt.2 November 3rd, 2009
by Kevin G. Hall – McClatchy Newspapers
What they haven’t seen are any Wall Street tycoons forced to swap their multi-million dollar jobs and custom-made suits for dishwashing and prison stripes. There are plenty of civil and class-action lawsuits from aggrieved investors angered by the losses in their mortgage bonds, hedge funds or pensions. Regulators have stepped up their vigilance after the fact. But to date, no captain of finance tied to the crisis has walked the plank. 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 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. October 27th, 2009
By Paul Craig Roberts – VDare.com A narco-state is bad enough. The US surpasses this horror with its financo-state…
One conclusive hallmark of a failed state is that the crooks are inside the government, using government to protect and to advance their private interests. Another conclusive hallmark is rising income inequality as the insiders manipulate economic policy for their enrichment at the expense of everyone else. October 13th, 2009
September 29th, 2009
By Dave Lindorff — Counterpunch
September 23rd, 2009
Paul Craig Roberts – Chronicles Magazine
September 22nd, 2009
By Alister Bull – Reuters
A document outlining the U.S. position ahead of the September 24-25 Group of 20 summit in Pittsburgh said exporters, which include China, Germany and Japan, should consume more, while debtors like the United States ought to boost savings. “The world will face anemic growth if adjustments in one part of the global economy are not matched by offsetting adjustments in other parts,” said the document, which was obtained by Reuters on Monday. September 15th, 2009
http://video.google.com/videoplay?docid=-2550156453790090544 September 14th, 2009
September 9th, 2009
Wait until you hear what’s coming in the financial crisis…. September 9th, 2009
Wait until you hear what’s coming in the financial crisis…. September 1st, 2009
By Sudeep Reddy – The Wall Street Journal
House lawmakers are expected to seek a comprehensive audit of the Federal Reserve system by the Government Accountability Office, the investigative arm of Congress, as part of a broader overhaul of financial regulation this fall. But the precise scope of such an audit remains undetermined. August 29th, 2009
by Paul Craig Roberts
“Rapidly you are dividing into two classes – extreme rich and extreme poor.” ~ “Brutus” Americans think that they have “freedom and democracy” and that politicians are held accountable by elections. The fact of the matter is that the US is ruled by powerful interest groups who control politicians with campaign contributions. Our real rulers are an oligarchy of financial and military/security interests and AIPAC, which influences US foreign policy for the benefit of Israel. |
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Copyright © 2009 Patrick J. Buchanan - All Rights Reserved 172 queries. 1.770 seconds. |
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More than a year into the gravest financial crisis since the Great Depression, millions of Americans have seen their home values and retirement savings plunge and their jobs evaporate.
Evidence that the US is a failed state is piling up faster than I can record it.
“The long and the short of it is that we’ve been taken for a very big and costly ride by banks that created a huge crisis and that then got the government to bail them out of it with our money, and by two administrations, one Republican and now one Democratic, that have been submissive and willing servants of the big banks….”
The United States will urge world leaders this week to launch a new push in November to rebalance the world economy, but there are doubts national governments will bow to external advice.
Overturning current limits on government audits of the Federal Reserve has become a key goal of the central bank’s critics inside and outside Congress.
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