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Date Sent: 2008-10-21
Freedom's Phoenix Headline News for Tuesday, October 21, 2008
 
Delinquencies Mount for American Express--Banks brace for Lehman Brother's debt insurers' deadline

3 Agencies Vie for Oversight of Swaps Market -- US Is Said to Be Urging New Mergers in Banking -- Heller gun case rebuked from the "right" -- Mr. Market to Ben Bernanke: Stop Lying -- Were Oil Prices Crushed To Stop The Momentum of Alternative Energy? -- US Stocks Gain, Led by Energy Shares on Halliburton Earnings -- Pa. woman ordered out of chemical-free 'bubble' -- Too Big To Fail? - by Ron Paul -- Police attack 'vigilante' security plan -- Blaming Liberty for the State's Depredations - by Anthony Gregory -- UK: Passports needed to buy cell phones -- MTV Martial Law Videos -- Tens of Thousands rally in Baghdad against proposed US-Iraq troop deal -- Obama: Powell will have a role in administration -- 20 million will lose jobs in 2009 -- China slowdown, British debt overshadows markets rally -- MISH: 22 States Face Tax Shortfalls -- Was Bernanke Hired For His Expertise to Create a Greater Depression? -- Bernanke enjoyed spending that bailout package so much, he wants another -- US pilot ordered to shoot down UFO -- Hard Times - by Stephen Lendman -- MISH: Bush to Host Summit of Losers
 

3 Agencies Vie for Oversight of Swaps Market News Link  •  Economy - Economics USA
3 Agencies Vie for Oversight of Swaps Market
10-21-2008  •  Washington Post 
A turf war is brewing among 3 leading federal agencies that have contrasting visions for how the $55 trillion market for speculative financial instruments known as credit-default swaps should be regulated.  Read Full Story
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Reported by: Powell Gammill
U.S. Is Said to Be Urging New Mergers in Banking News Link  •  Economy - Economics USA
U.S. Is Said to Be Urging New Mergers in Banking
10-21-2008  •  NY Times 
The Treasury Department hopes to spur a new round of mergers by steering some of the money in its $250 billion rescue package to banks that are willing to buy weaker rivals, according to government officials.  Read Full Story
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Reported by: Powell Gammill
Heller gun case rebuked from the News Link  •  Gun Rights
Heller gun case rebuked from the "right"
10-21-2008  •  NY Times 
“The Roe and Heller courts are guilty of the same sins,” one of the two appeals court judges, J. Harvie Wilkinson III, wrote in an article to be published in the spring in The Virginia Law Review.  Read Full Story
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Reported by: Powell Gammill
Fmr. Deputy Attorney General sues Obama, questions citizenship GOES MAINSTREAM on FOX News Link  •  Eugenics
Fmr. Deputy Attorney General sues Obama, questions citizenship GOES MAINSTREAM on FOX
10/20/08  •  www.myfoxtoledo.com 
Philip J. Berg, Former Deputy Attorney General for the State of Pennsylvania, has filed a lawsuit against Democratic presidential nominee Barack Obama. He's claiming the Illinois senator is not a U.S. citizen and therefore ineligible to run for p  Read Full Story
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Reported by: Morpheus Titania
Mr. Market to Ben Bernanke: Stop Lying News Link  •  Federal Reserve
Mr. Market to Ben Bernanke: Stop Lying
10-20-08  •  Market-Ticker.denninger.net 
Current estimates for FY08 (now) are that we will run well north of $1 trillion in budget deficit. FY09's estimates are now north of $2 trillion (!) from some sources, and nobody has a credible estimate under $1 trillion.  Read Full Story
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Reported by:
Were Oil Prices Crushed To Stop The Momentum of Alternative Energy? News Link  •  Energy
Were Oil Prices Crushed To Stop The Momentum of Alternative Energy?
10-20-08  •  NYtimes.com 
Advocates are concerned that if the prices for oil and gas keep falling, the incentive for utilities and consumers to buy expensive renewable energy will shrink. That is what happened in the 1980s when a decade of advances for alternative energy coll  Read Full Story
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Reported by:
The New Boss Opinion  •  Economy - Economics USA
The New Boss
10-20-2008
Brock Lorber
   By taking a minority stake in financial services companies, the US Treasury has become the managing partner. We are, and will be, treated to a textbook example of how economies cannot be centrally-planned.
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U.S. Stocks Gain, Led by Energy Shares on Halliburton Earnings News Link  •  Economy - Economics USA
U.S. Stocks Gain, Led by Energy Shares on Halliburton Earnings
10-20-2008  •  Bloomberg 
U.S. stocks rose, adding to the Dow Jones Industrial Average's best weekly gain in five years, after Halliburton Co.'s profit topped estimates and Federal Reserve Chairman Ben S. Bernanke endorsed an economic stimulus package.  Read Full Story
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Reported by: Powell Gammill
Meet the Candidates<br>& Prop. 102:<br>Marriage Amendment Forum Feature Article  •  Events: Arizona
Meet the Candidates
& Prop. 102:
Marriage Amendment Forum

Powell Gammill
   The Strategic Edge Business Alliance Breakfast Presents: Candidate Forum. Nothing like listening to a bunch of politicians before an election to get you in the mood to scramble a few eggs.
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Pa. woman ordered out of chemical-free 'bubble' News Link  •  Criminal Justice System
Pa. woman ordered out of chemical-free 'bubble'
10-20-2008  •  AP 
"For the wife's medical problems, there is sympathy. For the owner's defiance of the township's lawful directives, there is no excuse," Judge Carol McGinley ruled earlier this month.  Read Full Story
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Reported by: Powell Gammill
News Link  •  Eugenics
Joe Biden warns Barack Obama supporters of war and depression - “Gird your loins”
10/20/2008  •  Daily Newscaster 
Yesterday in Seattle at the second Barack Obama fundraiser of the day held at the downtown Sheraton Hotel Joe Biden ominously told supporters that within 6 months of an Obama administration there would be unpopular decisions made.  Read Full Story
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Reported by: D. H. Williams
Sweet Dreams: Redflex Driver Caught Snoozing News Link  •  Police State
Sweet Dreams: Redflex Driver Caught Snoozing
10/20/2008  •  CameraFRAUD.com 
An employee of beleaguered Redflex Group was caught sound asleep on the evening of Saturday, October 18th while “operating” a speed trap on behalf of the City of Tempe.  Read Full Story
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Reported by: Camera FRAUD
Denny's Gun Control Video News Link  •  Gun Rights
Denny's Gun Control Video
10-20-2008  •  Yahoo video (h/t Cobb, Dugger, Hess) 
A short video demonstrating why you should always cooperate with an armed thug and give in to their demands.  Read Full Story
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Reported by: Powell Gammill
News Link  •  Property Rights
"Produce the Note" How-To
10/20/2008  •  Consumer Warning Network 
During the boom, most mortgages were sold at least once. In the rush to turn them over quickly, many of the new lenders did not get the proper paperwork to show they own the note. This is the key to the "Produce-the-Note" strategy.  Read Full Story
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Reported by: Mike Shipley
Too Big To Fail?<br>by Ron Paul Feature Article  •  Economy - Economics USA
Too Big To Fail?
by Ron Paul

Powell Gammill
   In the midst of highly unpopular bailouts of Wall Street, many justifications have been given about why Washington feels the need to act. Some claim that capitalism and the free market are to blame, but we have not had capitalism or a free market.
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Police attack 'vigilante' security plan News Link  •  Law Enforcers or Peace Officers
Police attack 'vigilante' security plan
10-20-2008  •  Jewish Community 
Chief Supt Steve Dann, commander of Hackney Police, said the group had been set up without consultation. "I see this as a slight against me that we were not delivering a service. I have worked very hard  Read Full Story
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Reported by: Powell Gammill
Blaming Liberty for the State’s Depredations<br>by Anthony Gregory News Link  •  Economy - Economics USA
Blaming Liberty for the State’s Depredations
by Anthony Gregory

10-20-2008  •  LewRockwell (h/t Christine Smith) 
Jacob Weisberg has an unbelievably asinine article blaming the Wall Street collapses on libertarianism. We who believe in individual liberty supposedly brought on this recession. It is hard to grasp that someone could actually believe this. Perhaps s  Read Full Story
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Reported by: Powell Gammill
UK: Passports will be needed to buy cell phones News Link  •  Philosophy: Socialism
UK: Passports will be needed to buy cell phones
10-20-08  •  Timesonline.co.uk 
Everyone who buys a mobile telephone will be forced to register their identity on a national database under government plans to extend massively the powers of state surveillance.  Read Full Story
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Reported by:
MTV Martial Law Videos News Link  •  Police State
MTV Martial Law Videos
10-20-08  •  Youtube.com 
It is getting close to that time.  Read Full Story
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Reported by:
Delinquencies Mount for American Express News Link  •  Economy - Economics USA
Delinquencies Mount for American Express
10-20-08  •  onlineWSJ.com 
Every other card issuer, from J.P. Morgan Chase & Co. to Capital One Financial Corp., is grappling with the same problems as more consumers shut their wallets and fall behind on their bills. American Express is especially vulnerable...  Read Full Story
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Reported by:
Licensed Kleptocracy for Years to Come - The ABCs of Paulson's Bailout News Link  •  Philosophy: Fascism
Licensed Kleptocracy for Years to Come - The ABCs of Paulson's Bailout
10-20-08  •  CounterPunch.com 
The political turning point was the violent takeover of the Senate by oligarchic creditors who murdered the debtor-oriented reformers led by the Gracchi brothers in 133 BC, picking up benches and using them as rams to push the reformers over the clif  Read Full Story
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Reported by:
Paulson says bank stock purchases should make money for taxpayers News Link  •  Federal Reserve
Paulson says bank stock purchases should make money for taxpayers
10-20-08  •  news.yahoo.com/s/ap 
Treasury Secretary Henry Paulson said Monday that government purchases of stock in banks represent an investment that should eventually make money for the taxpayer.  Read Full Story
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Reported by:
Tens of Thousands rally in Baghdad against proposed U.S-Iraq troop deal News Link  •  WAR: About that War
Tens of Thousands rally in Baghdad against proposed U.S-Iraq troop deal
10-20-2008  •  McClatchy News 
"These are the Iraqi people in front of you, rejecting this agreement," Sadr said. "The treaty is in your hands, so the destiny and reputation of Iraq also is in your hands ... If they told you this agreement will give you sovereignty,  Read Full Story
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Reported by: Powell Gammill
Banks braced for Lehman Brother's debt insurers' deadline News Link  •  Federal Reserve
Banks braced for Lehman Brother's debt insurers' deadline
10-20-08  •  Timesonline.co.uk 
Financiers enjoying a respite from the panic of the past few weeks should brace themselves for further mayhem tomorrow, the deadline for insurers of Lehman Brothers' debt to pay up on billions of dollars of policies.  Read Full Story
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Reported by:
Obama: Powell will have a role in administration News Link  •  Eugenics
Obama: Powell will have a role in administration
10-20-2008  •  AP 
"He will have a role as one of my advisers," Barack Obama said on NBC's "Today" in an interview aired Monday, a day after Powell, a four-star general and President Bush's former secretary of state, endorsed him. "Whet  Read Full Story
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Reported by: Powell Gammill
Arizona-Utah Border: Rock records dinosaur 'dance floor' News Link  •  Science, Medicine and Technology
Arizona-Utah Border: Rock records dinosaur 'dance floor'
10-20-08  •  news.BBC.co.uk 
Located within the Vermilion Cliffs National Monument, the marks were long thought simply to be potholes gouged out of the rock by years of erosion.  Read Full Story
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Reported by:
20 million will lose jobs in 2009 News Link  •  Economy - Economics USA
20 million will lose jobs in 2009
10-20-2008  •  Reuters 
20 million jobs will disappear by the end of next year as a result of the impact of the financial crisis on the global economy. Construction, real estate, financial services, and the auto sector are most likely to be hit, according to the  Read Full Story
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Reported by: Powell Gammill
China slowdown, British debt overshadows markets rally News Link  •  Economy - International
China slowdown, British debt overshadows markets rally
10-20-2008  •  AFP 
The impact of the financial crisis on major economies was brought into focus as China's growth slowed and Britain fell deeper in debt, amid more signs of turmoil in the banking sector. While markets rallied at the start of the week's trading,  Read Full Story
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Reported by: Powell Gammill
Volcanoes May Be Original Womb of Life News Link  •  Science, Medicine and Technology
Volcanoes May Be Original Womb of Life
10-20-2008  •  LiveScience 
50 years ago, a chemist conducted a famous experiment to investigate how life could have started on Earth. Recently, scientists re-analyzed his results using modern technology and found a new implication: The original sparks for life on our planet co  Read Full Story
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Reported by: Powell Gammill
What Would Milton Friedman Say? News Link  •  Federal Reserve
What Would Milton Friedman Say?
10-20-2008  •  Forbes / Peter Robinson 
"The problem with subprime assets is that nobody knows what they're worth. Friedman would have told you that bringing the government in wouldn't have helped that."  Read Full Story
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Reported by: Brock Lorber
22 States Face Tax Shortfalls, Frugality To Hit State Budgets News Link  •  Economy - Economics USA
22 States Face Tax Shortfalls, Frugality To Hit State Budgets
10-20-08  •  Michael Shedlock / Mish 
The reversal of fortunes has been dizzying for states such as Arizona. Only two years ago, the state was sitting on a $1.5-billion surplus, but the housing collapse sent the economy into a tailspin.  Read Full Story
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Reported by:
Was Bernanke Hired For His Expertise to Create a Greater Depression? News Link  •  Federal Reserve
Was Bernanke Hired For His Expertise to Create a Greater Depression?
10-20-08  •  Market-Ticker.denninger.net 
In fact, one wonders - if Ben was chosen for his expertise on The Depression, was (and is) his intent to cause the second one?  Read Full Story
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Reported by:
Bernanke enjoyed spending that bailout package so much, he wants another News Link  •  Economy - Economics USA
Bernanke enjoyed spending that bailout package so much, he wants another
10-20-2008  •  Reuters 
Interbank lending emerged from deep freeze and Fed chairman Ben Bernanke gave his blessing to a second US government bailout stimulus package, providing hope the world's financial crisis may be easing. The 3-month Libor rate fell more than  Read Full Story
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Reported by: Powell Gammill
U.S. pilot was ordered to shoot down UFO News Link  •  U F O and Other Unidentified Stuff
U.S. pilot was ordered to shoot down UFO
10-20-2008  •  Reuters 
One pilot said he was seconds away from firing 24 rockets at the object, which moved erratically and gave a radar reading like "a flying aircraft carrier." The pilot said it spent periods motionless in the sky before reaching estimated spee  Read Full Story
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Reported by: Powell Gammill
Bush to Host Summit of Losers News Link  •  Economy - International
Bush to Host Summit of Losers
10-20-08  •  Michael Shedlock / Mish 
In response to the Credit crisis president Bush is gathering up all the people who did not see what was coming, denied what was happening, and then failed to see the implications of what was indeed happening.  Read Full Story
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Reported by:
Hard Times Feature Article  •  Economy - Economics USA
Hard Times
Stephen Lendman
   Past sins coming home to roost and intend to stay a while.
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