World-News

By Mike Whitney

Corporations are finding it harder to roll over their debt, bank loans are defaulting at a historic pace, and commercial real estate is imploding. Credit destruction is unprecedented, massive and ongoing. The capital hole is bigger than the Fed and bigger than the Treasury. It can't be plugged with liquidity alone.

https://www.informationclearinghouse.info/article23639.htm



Follow the Money

Cure Millions of Leprosy -- or Just Give Hank Paulson a Tax Break?

By Matt Bivens

There are many possible responses to the news that we have committed more than four trillion public dollars to Wall Street. Mine is a roar of admiration. Four trillion dollars! H... h...! I didn't even know that was possible! U.S.A.! U.S.A.!

https://www.informationclearinghouse.info/article23638.htm



What Recession?

As the Economy Crashed Around Them, 400 Richest Americans Lined Their Pockets with $30 Billion

By Les Leopold

It's great to know that during the worst economic crisis since the Great Depression, the wealth of the 400 richest Americans, according to Forbes, actually increased by $30 billion.

https://www.informationclearinghouse.info/article23641.htm



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