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Federal Reserve Chairman Ben Bernanke said on Tuesday the U.S. central bank may keep an emergency lending facility for big Wall Street firms open longer than it initially intended, a signal the Fed is fearful of shutting down a vital backstop.
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Now there is an open proposal, "only for emergencies, wink-wink", to use taxpayer money to bailout banks. Instead, what needs to happen is for insolvent banks to fail. We are in this monstrous mess because the Fed...
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Things in the U.S. sure are tough. Brother, can you spare a euro? Signs saying "We accept euros" are cropping up in the windows of some Manhattan retailers. A Belgium company is trying to gobble up St. Louis-based Anheuser-Busch, the nation
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The dollar's 41% drop against the euro during Bush's term writes the economic epitaph of an administration that set out to restore American preeminence. Instead, Bush heads to Japan with diminished leverage as Russian and Chinese influence gr
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What is it worth to you to take out the FED, replacing it with a bank that is not controlled by government, corporations, or anyone with a personal agenda? What is freedom worth to you? You can have it. The cost is ten million dollars.
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In my estimation this is tacit admission that large financial institutions are poised to fail, and the tools are not in place "to limit that impact and facilitate an orderly failure".
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A weaker dollar cannot be blamed for soaring oil prices as policymakers around the world tussle with the twin specters of rising inflation and slowing growth, U.S. Treasury Secretary Henry Paulson lied on Thursday.
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Democrats in the U.S. Congress are gearing up to pass a second election-year economic stimulus package, but unlike the $152 billion measure that passed in February, they are not counting on getting the support of President George W. Bush.
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The Federal Reserve has auctioned another $75 billion in loans to squeezed banks to help them overcome credit problems and announced it will provide a fresh batch of the loans this month.
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They are auditing the Fed to make sure that no policy and no action of the Fed or the US government will result in any repudiation of debt owed to the Rothshild's or in any way reduce the expected harvest of assets...
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Humiliation for Mr. Dollar: Ben Bernanke, the chairman of the United States Federal Reserve Bank, faces a general investigation by the International Monetary Fund. Just one more example of the Fed losing its power.
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Jim Rogers, who in April 2006 correctly predicted oil would reach $100 a barrel and gold $1,000 an ounce, said investors should steer clear of the dollar as the US economy slows and favor commodities this year. The dollar has slipped 7.7%
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The Fed is in a bind. If it keeps rates low and loans plentiful to combat a recession, inflation could worsen. If it raises rates and tightens the money spigot to fight inflation, the downturn could be deepened and prolonged.
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The former Fed chairman sharply criticizes President Bush for not vetoing bloated spending bills and for adding prescription drug benefits to Medicare even though the budget surplus had disappeared and deficits were mounting.
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Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero".
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Banks are so greedy, and/or so desperate that not only are they charging ridiculous interest rates, they are willing to ding you with a $10 fee on a $2 transaction.
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Whenever regulatory schemes of the state go awry, urgent campaigns are undertaken to find scapegoats upon whom to unload explanations for the ensuing failures. Someone other than government regulators must be held to account
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WASHINGTON, June 25 (Reuters) - The U.S. Federal Reserve resumed a two-day policy meeting on Wednesday that was expected to end with benchmark interest rates on hold and little evidence the central bank is going to raise borrowing costs soon.
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Sedacca wrote that current financial-market conditions remind him of ``someone standing on a lonely beach, armed with only a small bucket, trying to stop a rare tsunami that hits the shores
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So why now for Bank United? This is a guess on my part, but I suspect the Fed told Bank United to raise capital or be taken over. I also think this is part of the reason Paulson is desperately pleading for more Fed power.
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The bigger the mess it creates, the more power it will attempt to grab. Over time this leads to dangerously concentrated power into the hands of those who have already proven they do not know what they are doing.
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Treasury Secretary Paulson plans to call for the Federal Reserve to be given new, explicit powers to intervene in the workings of Wall Street firms to protect the financial system, adapting his vision of how the financial world should be regulated to
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Maybe your job is secure. Maybe you are out of the stock market. Maybe you aren’t waiting for a return on some real estate investment. The problem that hits everyone is inflation, which is roaring out of control in all the sectors we care about.
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The "rise" in gas prices is just another political illusion. The problem is fake money from the criminals called the Federal Reserve and their partners in crime, the people called the federal government.
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Bernanke’s statements are like standing in front of a tsunami proclaiming "The Worst Is Over" before the wave even hits the shore.
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Boston Federal Reserve President Eric Rosengren, also warned that inflationary pressures were being stoked by soaring energy and food prices, and after aggressive Fed interest rate cuts since September.
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"As a major currency for international reserve, the dramatic depreciation of the dollar has lead to shrinking national reserve of many countries and reduced social welfare," China's ambassador to the WTO, Sun Zhenyu, said.
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[save themselves is another matter] The European Central Bank is opting for a monetary purge. So too is the US Federal Reserve, now ruled from Dallas. Both are embarked on policies that must lead to retrenchment across the Atlantic world.
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Oil prices had their biggest gains ever on Friday, jumping nearly $11 to a new record above $138 a barrel, after a senior Israeli politician raised the specter of an attack on Iran and the dollar fell sharply against the euro.
