According to my research, America's move to feudalism is in the process of being finalized. The backbone of the middle class is home ownership which also includes the property under the building. I believe that the new system will to leasehold...
Paulson and Bernake are not happy that congress may want to deliberate on a bailout plan and are doing everything in their power to force the process forward even in the face of a Rasmussen poll showing only 7% of voters support the plan.
The higher the prices the government pays for troubled mortgage securities held by banks, the more the rescue will bolster those banks and sustain the lending that is vital to the broader economy. But higher prices would also mean a worse deal for ta
Older Americans with investments are among the hardest hit by the turmoil in the financial markets and have the least opportunity to recover. As companies have switched from fixed pensions to 401(k) accounts, retirees risk losing big chunks of their
The size of the bailout is growing by leaps and bounds. Inquiring minds are asking A $1.8 Trillion Bailout: Where the Money's Going? A quick check of the totals shows that is $1.809 trillion dollars that Congress is hell bent on wasting.
Senator Tim Johnson has just announced he has no concern for the US, only concerns for those from South Dakota
"My question is, if it’s so easy to just create this kind of “money” out of thin air, why only half a trillion? Hell, let’s fire up those printing presses! I say we should make it $100 trillion dollars (my finger raised to the corner of my mouth
Here is Mish's alternative to the Paulson 1.8 billion giveaway.
Oil prices are spiking more than $25 a barrel as rising anxiety over the U.S. government's proposed bailout of the financial system batters the dollar and sends investors scrambling for safe-haven assets.
6 years later, AIG, the largest US insurance company, has been nationalized to stop it blowing up the financial world. The US has nationalized the core of its mortgage industry and the government has become the arbiter of who should survive or die.
Senate Banking Committee Chairman Chris Dodd offered an alternative to the Bush administration's financial rescue plan aimed at giving the U.S. Treasury an equity stake when it helps companies burdened by debt [as opposed to ????].
On November 22, 1910 a malevolent Creature was conceived in the darkness. Ninety-eight years after its illegitimate conception, we will gather at the gates of its lair to signal the beginning of its end.
Wall Street headed to a lower start as investors await news of the government's plan to buy $700 billion in mortgage debt. Reuters
The Federal Reserve approved the conversion last night of the two remaining investment titans on Wall Street, Goldman Sachs and Morgan Stanley, into bank holding companies, offering them broader government protection in exchange for tighter regulatio
"I've been financially responsible with my own money. Why should I now be responsible for the fact that you were not?" he said. This may be a Main Street bailout backlash in the making. The details of the financial crisis are still hard
Democratic leaders have broadly embraced the administration's proposal to spend up to $700 billion to take troubled assets off the books of faltering firms and are not questioning the need to give the Treasury Department expansive authority to ha
Bunning said earlier this week. "The only difference between what the Fed did and what Hugo Chavez is doing in Venezuela is Chavez doesn't put taxpayer dollars at risk when he takes over companies -- he just takes them."
As economic theory developed and deepened, it became obvious that there was an inherent conflict between standard "micro-economic" theory, and factual observations of the business cycle.
What caused this? It is a simple question, and yet answers are all over the map, as you might expect. Here's mine in two words: fiat money. The word fiat means: out of nothing. Money out of nothing is money that is eventually worth nothing.
(You just can't make this stuff up) Wall Street is being called upon to manage its own mortgage mess. As part of the government bailout of the financial industry, the Treasury has floated a plan with industry executives that envisions the $700 b
The U.S. dollar used to be backed by gold. Today it is backed by bananas. Anyone buying dollars today will loose money. The average citizen will experience hyperinflation, destitute, poverty, and social unrest due to flagrant bank mismanagement says
This is a very interesting synopsis on the Global Money Supply. Look at the last graph -- who has the most gold to circulating currency ratio? Venezuela with 178% gold to currency. The total money supply in the U.S. is 13.8 trillion.
Inquiring minds may wish to consider a recap of things that have happened since Paulson made his "Our banking system is a safe and a sound one" speech.
The financial bailout has some pundits blaming capitalism. But, government interference and “political capitalists” are the real culprits. “Caution: Government at Work”.
Treasury Secretary calls on Congress to move fast to approve bill that would let Treasury spend as much as $700 billion to buy troubled mortgage-related assets. (not even a word from Obama or McCain???)
Listen closely to his best case scenario for the housing market, and overall economy.
[What do you mean "may," tool?] In a change from the original proposal sent to Capitol Hill, foreign-based banks with big US operations could qualify for the Treasury Department’s mortgage bailout, according to the fine print of an administ
When you go to Yahoo, or goodness forbid watch TV "news" you get articles that quote "experts" and some such on this fiscal crisis. Me, I go to reddit.
Congressional officials said members of both parties remained willing to move ahead despite reservations from the rank-and-file about exposing taxpayers to staggering costs that have yet to be disclosed.
As Sir Howard Davies, former chair of Britain's Financial Services Authority, has said, "there will be a completely different shape to the financial system as a result of this." But first we have to work our way through the crisis.