The World As We Know It Is Going Down
https://groups.google.de/group/freepage-news/t/fae526f41ff0f660?hl=en
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Moguls Steal Home While Companies Strike Out
Bill Moyers and Michael Winship, Truthout: "From our offices in Manhattan, we look out on the tall, gleaming skyscrapers that are cathedrals of wealth and power - the Olympus ruled by the gods of finance, the temples of the mighty, the holy of holies, whose priests guard the sacred texts of salvation - the ones containing the secrets of subprime lending and derivatives as mysterious and elusive as the Grail itself."
https://www.truthout.org/article/moguls-steal-home-while-companies-strike-out
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In Hard Times, Tent Cities Rise Across the Country
Since foreclosure mess, homeless advocates report rise in encampments.
https://www.informationclearinghouse.info/article20810.htm
Escape of the bankrupt
The world's financial markets remain at the eye of a perfect economic storm.- In the most glaring example of capitalism gone wrong, the Russian stock market was forced to close its doors for the second consecutive day yesterday. For a system that is built and flourishes on confidence, the future is extremely uncertain.
https://www.guardian.co.uk/commentisfree/2008/sep/19/banking.creditcrunch
Where's Our Bailout?
Almost overlooked in this morning's extraordinary headlines about government intervention to protect the nation's financial system from collapse was the failure of the House of Representatives on Thursday to act on a $50 billion stimulus package for the rest of us.
https://www.ourfuture.org/blog-entry/2008093819/wheres-our-bailout
For AIG, $85 billion might not be enough
AIG had $971.7 billion of liabilities at the end of June, but a subsidiary also has about $447 billion of credit derivatives on its books. That compares with a little more than $1 trillion of assets.
https://www.reuters.com/article/email/idUSN1749377720080918
Tab for Government Rescues Rises to $900 Billion
The U.S. Federal Reserve stepped in to rescue insurance giant American International Group from bankruptcy with an $85 billion loan on Tuesday. The action brings the total tab for government rescues and special loan facilities this year to more than $900 billion. Following are details of actions and amounts...
https://www.cnbc.com/id/26751385
Fannie Mae and Freddie Mac Invest in Lawmakers
When the federal government announced two months ago that it would prop up mortgage buyers Fannie Mae and Freddie Mac, CRP looked at how much money members of Congress had collected since 1989 from the companies.
https://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html
Confessions of a sub-prime mortgage baron
Across the US, an estimated 2.5 million people are in danger of losing their homes to foreclosure this year as a result of the sub-prime mortgage crisis. Bitner's description of day-to-day business at Kellner is an eye-watering glimpse of the industry's slide into anarchy.
https://www.guardian.co.uk/business/2008/sep/19/subprimecrisis.richardbitner
From Information Clearing House
https://freepage.twoday.net/search?q=Wall+Street
https://freepage.twoday.net/search?q=subprime+lending
https://freepage.twoday.net/search?q=foreclosure
https://freepage.twoday.net/search?q=financial+market
https://freepage.twoday.net/search?q=capitalism
https://freepage.twoday.net/search?q=bailout
https://freepage.twoday.net/search?q=financial+system
https://freepage.twoday.net/search?q=stimulus
https://freepage.twoday.net/search?q=Federal+Reserve
https://freepage.twoday.net/search?q=bankruptcy
https://freepage.twoday.net/search?q=mortgage
https://freepage.twoday.net/search?q=Fannie
https://freepage.twoday.net/search?q=Moyers
https://freepage.twoday.net/search?q=Michael+Winship
--------
Moguls Steal Home While Companies Strike Out
Bill Moyers and Michael Winship, Truthout: "From our offices in Manhattan, we look out on the tall, gleaming skyscrapers that are cathedrals of wealth and power - the Olympus ruled by the gods of finance, the temples of the mighty, the holy of holies, whose priests guard the sacred texts of salvation - the ones containing the secrets of subprime lending and derivatives as mysterious and elusive as the Grail itself."
https://www.truthout.org/article/moguls-steal-home-while-companies-strike-out
--------
In Hard Times, Tent Cities Rise Across the Country
Since foreclosure mess, homeless advocates report rise in encampments.
https://www.informationclearinghouse.info/article20810.htm
Escape of the bankrupt
The world's financial markets remain at the eye of a perfect economic storm.- In the most glaring example of capitalism gone wrong, the Russian stock market was forced to close its doors for the second consecutive day yesterday. For a system that is built and flourishes on confidence, the future is extremely uncertain.
https://www.guardian.co.uk/commentisfree/2008/sep/19/banking.creditcrunch
Where's Our Bailout?
Almost overlooked in this morning's extraordinary headlines about government intervention to protect the nation's financial system from collapse was the failure of the House of Representatives on Thursday to act on a $50 billion stimulus package for the rest of us.
https://www.ourfuture.org/blog-entry/2008093819/wheres-our-bailout
For AIG, $85 billion might not be enough
AIG had $971.7 billion of liabilities at the end of June, but a subsidiary also has about $447 billion of credit derivatives on its books. That compares with a little more than $1 trillion of assets.
https://www.reuters.com/article/email/idUSN1749377720080918
Tab for Government Rescues Rises to $900 Billion
The U.S. Federal Reserve stepped in to rescue insurance giant American International Group from bankruptcy with an $85 billion loan on Tuesday. The action brings the total tab for government rescues and special loan facilities this year to more than $900 billion. Following are details of actions and amounts...
https://www.cnbc.com/id/26751385
Fannie Mae and Freddie Mac Invest in Lawmakers
When the federal government announced two months ago that it would prop up mortgage buyers Fannie Mae and Freddie Mac, CRP looked at how much money members of Congress had collected since 1989 from the companies.
https://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html
Confessions of a sub-prime mortgage baron
Across the US, an estimated 2.5 million people are in danger of losing their homes to foreclosure this year as a result of the sub-prime mortgage crisis. Bitner's description of day-to-day business at Kellner is an eye-watering glimpse of the industry's slide into anarchy.
https://www.guardian.co.uk/business/2008/sep/19/subprimecrisis.richardbitner
From Information Clearing House
https://freepage.twoday.net/search?q=Wall+Street
https://freepage.twoday.net/search?q=subprime+lending
https://freepage.twoday.net/search?q=foreclosure
https://freepage.twoday.net/search?q=financial+market
https://freepage.twoday.net/search?q=capitalism
https://freepage.twoday.net/search?q=bailout
https://freepage.twoday.net/search?q=financial+system
https://freepage.twoday.net/search?q=stimulus
https://freepage.twoday.net/search?q=Federal+Reserve
https://freepage.twoday.net/search?q=bankruptcy
https://freepage.twoday.net/search?q=mortgage
https://freepage.twoday.net/search?q=Fannie
https://freepage.twoday.net/search?q=Moyers
https://freepage.twoday.net/search?q=Michael+Winship
rudkla - 20. Sep, 08:45
