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Administration officials are allegedly considering using eminent domain to buy up MBS, with the justification for doing so being invocation of "national security".
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Bank of America cut off credit to Republic Windows & Doors company last week, and workers, demanding severance pay, began staging sit-ins, effectively taking control of the building.
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The US Federal Reserve said Monday it had authorized China Construction Bank, a leading Chinese state bank, to operate in the United States.
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The inflationary policies now pursued by Washington may temporarily "stimulate the economy," but they also disguise and aggravate the underlying problems. We will all pay a serious price.
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In a revealing booklet called "Modern Money Mechanics," the Chicago Federal Reserve detailed how fractional reserve lending allows money to "expand." The booklet is now out of print, perhaps because it revealed too much...
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Residents from the Milwaukee neighborhoods of Riverwest and East Side are discussing printing their own money. The idea is that the local cash could be used at neighborhood stores and businesses, thus encouraging local spending.
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The Federal Reserve must now make a tough choice. In the past, Federal Reserve Chairmen may have felt it necessary to support regular attacks on gold prices to dissuade conservative people from putting a majority of their capital into gold.
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Conspiracy or technical gremlins? Either way, it's unlikely that CNN will invite Schiff back on should he continue to dare tell the truth about the real culprits behind the grand larceny undertaken by the government and the Federal Reserve...
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There is no escaping this reality whether the government (or private parties) like it or not. These are mathematical facts and not subject to political whim; Paulson and Bernanke, both of whom are highly intelligent, understand this, the American pe
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Straight Light
Even just to think of America as an island in the Caribbean without the Federal Reserve where Robinson Crusoe lived with mutineers, pirates and cannibals for almost three decades is an intellectual obscenity. edwin a. sumcad/12/03/08.
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ZURICH (Reuters) - Hedge fund Man Group said on Tuesday that banks were more highly geared than hedge funds and that bank deleveraging has been the main driver of asset-price declines.
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You nailed it. That is why I say they are dead and all the cash infusions in the world from the Fed won’t bring them back to life. They are dead with the CDS and dead without them. The Fed may as well stop the intra-venous injections of reserves.
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Federal Reserve Chairman Ben S. Bernanke signaled he’s ready to dig deeper into the central bank’s toolkit after cutting interest rates almost as much as he can, opening the door to a shift by policy makers this month.
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Bloomberg has provided the latest update in that saga and it is not good. The Fed continues to stonewall and it seems apparent that it will only reveal how U.S. taxpayer money is being spent if forced to do so by law.
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Until now, the average consumer would stick to necessities, but during times of increased spending, such as gift-giving holidays like Christmas, consumers now have to check their budget and gauge whether or not such purchases are truly feasible.
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Texas Congressman Ron Paul has warned that international forces are planning the creation of a global central bank that will see a new fiat monetary system come to dominate the world economy.
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When a central bank thinks its house is on fire, it too will rush to save the thing valued most. In the United States, the central bank has rushed to save the bonuses and dividends of its Wall Street clientele by hiding away the bad assets...
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US Federal Government has pledged $8.56 trillion in economic bailout for financial institutions so far.
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The Treasury Department today released the most complete breakdown of where the $8.5 trillion in banker bailout funds went.
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Paulson and Bernanke are effectively writing checks that President Obama is going to have to cash. I suspect he is going to find that this will get extraordinarily difficult some time in 2009, and when it does, that's when the real trouble will
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"They were bailed out before, this is the second bailout, so what's going on? Are they going to ask for another bailout soon?" asked Cheril Nichols, a 50-year-old nurse from New Jersey.
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The Federal Government has committed trillions of dollars through a wide range of rescue programs to shore up the economy. Below, the costs of some key programs and the dates they were announced.
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At this rate of contraction as revealed by the latest data it would not be surprising if fourth quarter GDP were to fall at an annualized rate of 5-6%.
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"We argue that the effects of these rule changes will require the banks to use up a meaningful portion of their TARP capital to build reserves for credit card losses in 2009.''
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And so we announce the inauguration of the FT Alphaville Armageddon Index: of US corporations supposedly less likely to default than the US government.
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The $4.6165 trillion dollars committed so far is about a trillion dollars ($979 billion dollars) greater than the entire cost of World War II borne by the United States: $3.6 trillion, adjusted for inflation (original cost was $288 billion). WWII was
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The Federal Reserve and the Treasury announced $800 billion in new lending programs, sending a message that they would print as much money as needed to revive the nation’s crippled banking system. [we call that HYPERINFLATION]
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The central bank is starting to use some of the unorthodox policy tools that Chairman Ben S. Bernanke outlined as a Fed governor six years ago. Policy makers are aiming to prevent a financial collapse and stamp out the threat of deflation.
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Nationalizations take dramatic losses from the private sector and places them on the larger balance sheet of the public sector, he said. "It's not good,"...
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Here is a Breakdown of the Bailout Rescue Efforts. Click on any chart for sharper image. Note: the tables below do not reflect another $300 billion for Citigroup.
