"A wise and frugal government, which shall restrain men from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor and bread it has earned. This is the sum of good government." -- Thomas Jefferson



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September 20, 2008

Sep 20 08:08

Deadly bomb hits Pakistan hotel

Webmaster's Commentary: 

Someone is trying to start a war (and distract from the economic news).

Sep 20 08:04

Backlash Over Bailouts Grows in Congress, Wall Street

As the U.S. government takes stronger measures to stabilize financial markets, some former Federal Reserve officials, lawmakers and Wall Street executives are saying too much has already been done.

``Every time they intervene, they do more harm than good,'' said Peter Schiff, president of Euro Pacific Capital in Darien, Connecticut, a brokerage that manages $1 billion.

Sep 20 08:04

Crisis Exposes Flaws in U.S. Economy, Tarnishes Image

America's credit ``profile is now weaker because contingent risks have become actual risks to the U.S. government,'' said John Chambers, managing director of sovereign ratings at Standard & Poor's in New York.

Webmaster's Commentary: 

So, a government that owes more money than its people can pay off in a lifetime is now a less than great credit risk. I don;t think that is news to any of us living here in the real worlsd. although some of those gods living in the ivory towers may have just choked on their caviar-topped English Muffins.

As for the American image being tarnished, I am sorry but there is nothing left in that image EXCEPT tarnish!

Sep 20 07:57

The Rise of U.S. Nuclear Primacy

Motivations are always hard to pin down, but the weight of the evidence suggests that Washington is, in fact, deliberately seeking nuclear primacy. For one thing, U.S. leaders have always aspired to this goal. And the nature of the changes to the current arsenal and official rhetoric and policies support this conclusion.

Webmaster's Commentary: 

"Okay, so we drove our own people into abject poverty, but look at this big shiny bomb we got. I mean, it;s so big, and so shiny and I just want to hug it and kiss it and lick it all over!!!!!" -- Official White Horse Souse

Sep 20 07:53

U.S. banks' problems not yet solved

Anyone who thinks U.S. banks are out of the woods, as the government shores up a financial system in turmoil, might want to think again.
Sweeping plans announced Friday to help cleanse many of the nation's banks and thrifts of bad loans and temporarily ban short sales of stock in hundreds of financial services companies should help support share prices.
But they don't mean loan losses will go away. Banks also can't return now to the loose lending practices that long goosed profits and share prices -- and which culminated in a housing and credit crisis with no clear end in sight.

Sep 20 07:47

Maintaining the failed financial system

Sep 20 07:45

US officer warns Israel not to hit Iran

An Israeli attack on Iran's nuclear installations would destabilise the region and open a new battlefront which could have a damaging effect on Iraq and Afghanistan, a senior American army commander said yesterday.

Webmaster's Commentary: 

"That's why we are going to do it, putz!"

Sep 20 07:44

Fury over British embassy link to Jewish settlement-builder

The British Government's plan to rent new premises in a Tel Aviv skyscraper hasrun into trouble after a wave of protests that their prospective landlord is a major participant in Jewish settlement-building in the occupied West Bank.

Sep 20 07:43

Israel and Palestine in 2 mins Chalk video

Why Murdering people to build homes for the chosen of god is racist and insane 101

Sep 20 07:31

Hedge funds' misery as FSA bans short-selling on 32 firms

The short-sellers accused of bringing the global banking industry to its knees have found themselves at the mercy of their victims. The unprecedented gains made by banking stocks left hedge funds with short positions facing large losses, as regulators turned their fire on the sector.

Webmaster's Commentary: 

The burning of the scapegoats has begun. But in truth the hedge funds, while certainly sharing the guilt for the economic collapse, are not the primary blame-holders.

First and foremost, the problem is a government that has borrowed more money than it can ever repay, transferred that debt onto the states and the people, then gave tax breaks to corporations to make it easier to move high-paying manufacturing jobs to foreign countries.

Sep 20 07:23

US Interrogator: "You have THREE minutes to live"

THE VIDEO THE USA TRIED TO BAN: The torturer is seen to strangle this man with a cable tie and then chillingly tell him, "You have 3 minutes to live"

Is this really how the United States wants to be seen around the world?

Am I really only one of a few who sees this as being WRONG?

If a man has a cable tie pulled tight around his neck and then told he has Three minutes to live, isn't that a Mock Execution?

Aren't Mock Executions a violation of the Geneva Conventions that amounts to a Warcrime?

Sep 20 07:21

Venezuela expels activists of U.S. human rights organization

The Venezuelan government Friday expelled two activists of a U.S. human rights organization, accusing them of "illegally interfering in the country's matters."

Sep 20 07:19

Pastor Muthee Wasilla Assemblies of God Witch Forced To Leave Village After Sarah Palin's Preacher Accused Her Of Causing Traffic Accidents

Webmaster's Commentary: 

"She turned me into a newt ..... I got better."

Sep 20 07:17

Democrats, Florida elections officials criticize GOP mailing

A new pitch for John McCain's presidential campaign aimed at older Democratic voters is causing complaints by Democrats and concern by elections officials.

The piece, paid for by the Republican National Committee and authorized by McCain, tells voters it is seeking to double-check their "unconfirmed" party affiliations while asking for money. A letter signed by McCain tells the Democrats: "We have you registered as a Republican."

Sep 20 07:16

Florida Could Again Muddle Race for White House

Just as in 2000, both political parties are battling for Florida, where Republican Sen. John McCain holds a single-digit lead over Democratic Sen. Barack Obama.

And eight years after Florida's recount drama, a new election debacle in Palm Beach County, home of the infamous "butterfly ballot," as well as new voting laws and untested voting machines, suggest the Sunshine State could again muddle the White House contest.

Sep 20 07:14

Congressman's son caught smuggling immigrants

The son of a U.S. Congressman was arrested in Willcox Sunday, charged with human smuggling. According to court documents John F. Boyd, son of Democratic Florida Congressman Allen Boyd, attempted to drive through a Border Patrol checkpoint in Willcox on Sunday with five illegal immigrants, including a 6-year-old girl.

Sep 20 07:12

Writedowns mounting at major banks

More troubling news erupted from the financial services sector Wednesday as Wachovia, PNC and Bank of America warned of bigger-than-expected writedowns and hinted that fourth-quarter results could be a disappointment.

Sep 20 07:08


It's great
2% (48 votes)
It sucks
98% (2125 votes)
Total votes: 2173
Sep 20 07:06

Forget Wall Street. What about the rest of us?

"I think there is something fundamentally positive about the U.S. economy," Harris says. "Great technology, a great educational system, an entrepreneurial spirit. But those things don’t really matter that much over the next couple of years."

Webmaster's Commentary: 

Here is more proof that the elites are out of touch. Our educational system is no longer great. Our students are lagging behind those of other developed countries. 40% of students are quitting high school out of sheer boredom.

And the entrepreneurial spirit is being crushed under the new nihilism as the entrepreneurs of the 90s realize that it doesn't matter how hard they work and how much they innovate when the government can come along and take it all to give to giant corporations whose stock Congress owns.

September 19, 2008

Sep 19 22:12

China Blames Wall Street Meltdown On Fed Overissuance Of Currency

China’s state media today reports on the real reason behind the Wall Street meltdown and a subject that the mainstream US media dare not mention - the Federal Reserve’s overissuance of currency - which the Chinese say is part of a wider agenda to justify increased control over the global economy.

Sep 19 22:07

The economic meltdown is no accident

The collapse of the dollar is no accident! This has been planned for decades as part of the New World Order. After the dollar collapses, the North American Union will be implemented and the dollar will be replaced with the Amero.

Sep 19 21:49

XL planes were 'flown home empty' while thousands of passengers were left stranded

Airline pilots have demanded an inquiry into why thousands of passengers were left stranded abroad while planes from collapsed travel giant XL flew back to Britain empty.

The British Airline Pilots’ Association says it is ‘ludicrous’ the biggest repatriation effort since Dunkirk was not able to use the planes.

Sep 19 19:01

Surprise, Surprise!! Stock market is… Dead Even!!

So this week just witnessed the worst day in the past six years, and also the best two days in the past eight years, and we arrived exactly where we started it.

Sep 19 17:57

Exclusive: New Doubts Over Palin's Troopergate Claims

"The last straw," her lawyer argued, came when he planned a trip to Washington, D.C., to seek federal funds for an aggressive anti-sexual-violence program. The project, expected to cost from $10 million to $20 million a year for five years, would have been the first of its kind in Alaska, which leads the nation in reported forcible rape.

The McCain-Palin campaign echoed the charge in a press release it distributed Monday, concurrent with Palin's legal filing. "Mr. Monegan persisted in planning to make the unauthorized lobbying trip to D.C.," the release stated.

Webmaster's Commentary: 

Well, there's another $100 for Kieth Olbermann's charity!

Sep 19 17:54

Things That Go Poof

From my iGoogle page, I monitor a number of news feeds.

The headline below, obviously caught my eye. The Fed is now backstopping the mutual fund industry and, yet, corporate officials are apaprently still hesitant to park money there. My enquirung mind wanted to know more. I clicked on the story. Poof, Wham, Bam, Gone.

Webmaster's Commentary: 

If you see an interesting story MAKE A LOCAL COPY IMMEDIATELY.

Sep 19 17:42

U.S. regulators close W. Va bank; 12th to fail

Regulators closed on Friday Ameribank Inc, which became the 12th bank failure this year as the struggling economy and falling home prices take their toll on financial institutions.

Webmaster's Commentary: 

Add that one to your tab!

Sep 19 17:41

Treasury could buy debt for 2 years under plan: report

The U.S. Treasury would have authority to buy whole loans, collateralized debt obligations and mortgage-backed securities under an evolving financial market rescue plan, CNBC reported on Friday, citing an unnamed Treasury official.

Webmaster's Commentary: 

So, we cannot know how much this plan is actually going to cost us, because over the next two years, who knows what other debts will be revealed (or be created)?

This is an open-ended deal. There is no end to the cash drain on this plan.

Sep 19 17:39

Hedge funds may be next

The next wave of failures in the growing U.S. economic crisis is likely to occur in the opaque hedge fund industry, which is facing mounting losses from interconnected contracts that failed or crippled such financial services businesses as Lehman Brothers Holdings Inc. and American International Group Inc.

Sep 19 17:37

Lehmans pension scheme has “significant deficits”

At a press conference today, PriceWaterhouseCooper joint administrator Tony Lomas admitted that pensions for Lehman Brother’s staff could be lacking.

Webmaster's Commentary: 

"No problem, you still have your Social Sec... ummm. Never mind." -- Official White Horse Souse

Sep 19 17:35

Witch Hunter that Prayed Palin into Office is Coming Back to Wasilla!

The witch hunter, aka Pastor Muthee, was the guest pastor from Kenya that appeared at Palin’s church, The Wasilla Assembly of God, and “prayed over” Sarah to help her become governor.

Muthee began his life in ministry in Africa by hunting down a local woman named Mama Jane after proclaiming her a witch.

According to the Christian Science Monitor, six months of fervent prayer and research identified the source of the witchcraft as a local woman called Mama Jane, who ran a “divination” centre called the Emmanuel Clinic.

Webmaster's Commentary: 

There is a seeker born every minute.

Sep 19 17:30

1878 pissed off Americans

Webmaster's Commentary: 

The American people are just a tad bit peeved!

Sep 19 16:45

Rescue shuttle at launch pad for Hubble trip

They should have been doing this all along.

Webmaster's Commentary: 

The shuttle Endeavour is on standby in case the seven astronauts who go up on Atlantis next month need a safer ride home.

Sep 19 16:44

Systemic Failure of the United States- Game Over

We are in historically unprecedented times. The foundation is being laid for a default of USTreasurys in the wake of the greatest regulatory failure in modern history, and the collapse of the US financial system. Anyone who cannot see that suffers from poor vision, chronic nostalgia, low mental wattage, a paycheck from Wall Street, a post in financial press media, or owning an Economics advanced degree. So many changes come with each passing day, not week, that it boggles the mind. Many of us predicted $100 updays for gold, and we almost saw one.

Sep 19 16:37

A "terrorist" being questioned

Webmaster's Commentary: 

At about 4 minutes into the tape, the torturer strangles this man with a cable tie.

This is how the United States is seen around the world.

Sep 19 16:32

UBS to take $5 bln 2nd-half write-down: report

UBS will have to write down the value of certain investments by another $5 billion in the second half but was unlikely to raise more capital, a Swiss newspaper said, according to Reuters.

Sep 19 16:31

Florida unemployment keeps rising

Florida's unemployment rate is at its highest level in more than 13 years, rising again in August to 6.5 percent.

Webmaster's Commentary: 

Just who does Bush think will pay the taxes to cover that trilion dollar bailout?

Sep 19 16:29

Aimee Allen, Ron Paul Anthem


Sep 19 16:27

Ron Paul: This Bailout Won't Be the Last

But don't we need to get these toxic assets off banks' balance sheets?

"Sure, they need to be removed. Somebody needs to suffer the consequences [but] not the taxpayer. Everybody knows that they have to be removed. They are priced too high. The assets don't have real value—some have zero and some have 10 cents on the dollar.

Sep 19 16:23

Sugar Daddy Government: Another Bailout Picks America’s Pockets

"In the last three years, the Federal Reserve has created over $4 trillion in new money out of absolutely nothing. As these huge new piles of phony money flood the banking system, the phony money already in circulation becomes worth even less, which leads to higher prices. We accept the vague term ‘inflation’ to describe this giant rip off, as if some immutable force of nature is the cause of our shrinking paychecks. But, make no mistake –This meltdown will ultimately spell disaster for every American.

Sep 19 16:16

Failed Bank List

Webmaster's Commentary: 

Watch this space...

Sep 19 16:15

Satellite images show ethnic cleanout in Iraq

Satellite images taken at night show heavily Sunni Arab neighborhoods of Baghdad began emptying before a U.S. troop surge in 2007, graphic evidence of ethnic cleansing that preceded a drop in violence, according to a report published on Friday.

Webmaster's Commentary: 

"They created a desolation, and they called it peace." -- Tacitus

Sep 19 16:14

Home values continue their downward spiral in Modesto area

Down again, darn it.

Median home sales prices plunged further during August in Stanislaus, San Joaquin and Merced counties and throughout most of California.

Sep 19 15:50

Bankrupt AIG Underwrote McCain's 'Reform Institute'

John McCain is making a big show of criticizing the government "bailout" of insurance giant AIG. But it turns out that AIG, which received $85 billion in US tax dollars earlier this week, is one of the largest donors to McCain's pet think tank, the comically named "Reform Institute," which he co-founded in 2001 "in direct response to the millions of Americans who, during the 2000 presidential campaign, expressed profound disillusionment with corrupt fundraising activities."

Sep 19 15:50

Onetime Alaskan backer-turned-foe is 'shocked' by Palin's pick as McCain V.P.

Sarah Palin's meteoric rise to political superstardom got its start thanks to Nick Carney, who soon came to regret the move.
Carney, who now lives in Ivins, Utah, has known Palin almost her whole life - his daughter went to school and played basketball with Sarah "Barracuda" Heath. He recruited her to run for office, but says her tenure as mayor of Wasilla, Alaska, was a disappointment, during which she looked out for herself and her cronies who she put in management positions.

Sep 19 15:46

"We Blew Her to Pieces"

Aside from the Iraqi people, nobody knows what the U.S. military is doing in Iraq better than the soldiers themselves. A new book gives readers vivid and detailed accounts of the devastation the U.S. occupation has brought to Iraq, in the soldiers' own words.

"Winter Soldier Iraq and Afghanistan: Eyewitness Accounts of the Occupation," published by Haymarket Books Tuesday, is a gut-wrenching, historic chronicle of what the U.S. military has done to Iraq, as well as its own soldiers.

Sep 19 14:35

Capitalism in convulsion: Toxic assets head towards the public balance sheet

In the space of just two momentous weeks, the landscape of global finance has been dramatically transformed. President George W.?Bush’s administration has mounted a multi-billion-dollar rescue of the financial system at the cost of inflicting severe damage on the US model of free- market capitalism.

Heavy costs will be inflicted on the American taxpayer, who is now subsidising Wall Street – and indeed financial institutions around the world – in a bail-out of unprecedented size.

Webmaster's Commentary: 

Bend over and spread 'em; it's the patriotic thing to do!

Sep 19 13:25


Desperate Measures for Desperate Times

Sep 19 13:18

Biggest Bailout Ever: Did the Government Go Too Far?

Not surprisingly, the market's up huge on this news. The moves should head off a run on money-market funds, restore liquidity to the financial system, and, as bank analyst Tom Brown puts it in the accompanying video, create a general "time out" for the panic to recede.

So what are the costs? Almost certainly:

* Higher taxes
* Higher interest rates on government debt
* Bigger government deficits

Sep 19 12:56

Myth of Iran wiping Israel off the map dispelled

Press TV: Alright, you just mentioned Israel and you called it the Zionist regime. A lot of controversy surrounds this issue. On the eve of your trip, the Jewish lobby is at work protesting, but behind the scenes stronger hands are at work to lobby each and every important politician in New York for both sanctions and a possible military attack against Iran. I want to know about this issue and the controversy of Israel being wiped off the map. A lot of controversy is surrounding that… was it a mistranslation, not a mistranslation?

Sep 19 12:41

Palin Hackers May Dodge Feds via DOJ Loophole

Under DOJ's interpretation, the Palin hackers might only be prosecuted for accessing e-mails the Alaska governor had not yet opened. Based on the data leaked by the hackers, it is not clear if they opened any unread messages.

Webmaster's Commentary: 

So, if your target has already read the email, it's legal to peek at it! The gummint sez so!

Sep 19 12:22

Army Alters Photographs, Issues Them To AP

The Associated Press retracted two government-issued photographs last night after a photographer in Texas alerted the agency that the photos in question appeared to be doctored.

Sep 19 12:22

American Taxpayer: You Owe Federal Reserve Inc. $1,000,000,000,000 Plus Interest

The privately owned Federal Reserve Bank is about to wave its magic wand and create, with just a few keystrokes, over one
trillion dollars. This money will be lent to the Bush Junta, at interest of course, in order to solve the crisis currently engulfing
US financial institutions. What is happening, in summary, is that a few CEO's made billions of dollars on shady deals, and now a
private company called the Federal Reserve is going to own your great-grandchildren.

Sep 19 11:24


Here is the Cliff Notes version of the economic disaster.

1. The banks and investment houses made up a bunch of products and sank their investors' money into them.

2. The banks and investment houses couldn't convince you to buy those products.

3. The banks and investment houses got the government to FORCE you to buy those products.

Any questions?

Optional Banner: 
WRH Exclusive
Sep 19 10:50

Public losses for private gain

With the nationalisation of Fannie and Freddie, comrades Bush, Paulson and Bernanke started transforming the US into the USSRA (United Socialist State Republic of America).

Sep 19 10:47

The Real Reason for the Global Financial Crisis…the Story No One’s Talking About

At the exchange rate yesterday (Wednesday), 35 trillion British Pounds was equivalent to U.S. $62 trillion (hence, the 35 trillion Pound gorilla). According to the International Swaps and Derivatives Association , $62 trillion is the notional value of credit default swaps (CDS) out there, somewhere, in the market.

This isn't the first time Money Morning has warned readers about the dangers of credit default swaps. And it won't be the last.

Sep 19 10:46

Stock Market Cheers Fiscal Insanity

The stock market is rallying when we we have not even seen the plan. If Schumer gets his way with an "agency to inject funds into financial companies in exchange for equity stakes" there is going to be massive shareholder dilution on top of effective nationalization of banks.

Sep 19 10:45

GOP turns on president

President Bush was under fire Thursday for his response to the crisis on Wall Street — and the criticism was from members of his own party.

House Minority Leader John Boehner joined a growing chorus of Republican leaders criticizing the administration for failing to tell Congress about the bailout of American International Group (AIG). And Republican presidential candidate John McCain said that if he were president, he would fire Securities and Exchange Commission (SEC) Chairman Chris Cox.

Sep 19 10:44

UN General Assembly Opens With a Denunciation of US Policies

Sep 19 10:43

Iranian leader says he opposes Israel, not Israelis

The Iranian president, Mohamoud Ahmadinejad, took the unusual step on Thursday of explaining that while he strongly opposed the state of Israel, his hostility did not extend to the Israeli people.

Sep 19 10:33

The Transparent Cabal

An informed caller and viewer of C-Span confronts an 'expert' in
Middle East affairs who is obviously an Israeli shill. The caller
quotes Colin Powell saying that Neo-cons and Israelis control the
Pentagon. The professor is dumbfounded

Optional Banner: 
Featured Video
Sep 19 10:30

Australian Troops Kill Afghan Governor, Two Guards in Botched Raid

Just days after General David McKiernan announced his “revised tactical order” designed to reduce the number of civilians killed in NATO raids, Australian special forces surrounded a house in the Afghan province of Oruzgan and opened fire, killing district governor Razi Khan and two of his bodyguards, and injuring two others.

Sep 19 10:29

US 'bad bank' to staunch toxic debt losses

The Daily Telegraph understands that one of the main options under consideration is the creation of a massive sink fund, or "bad bank", which would provide a permanent solution to the problem that banks face in holding such assets on their balance sheets.

Webmaster's Commentary: 

The "Permanent solution" (Maybe the "Final Solution") is to allow Wall Street to keep the good assets and dump the bad assets on the taxpayers.

Sep 19 10:28

Short-selling ban is a 'mind-blowingly stupid' knee jerk reaction

What a joke. If the authorities were so sure about the strength of the financial institutions then why is the Bank of England not happy to take virtually unlimited bank debt obligations in exchange for funding?

There must be enormous sums of four or more year old mortgage debt/corporate debt/quasi supra national debt which could be taken as collateral by the Treasury against cash which would see the banks through this little spat.

Obviously the authorities are not as sure as their public utterances would seem to suggest.

Sep 19 10:27


President [sic] Bush told investors today not to worry about the economy, telling them that he had the whole "money thing in the bag and under control." Bush gave the short speech at the White House rose garden instead of the speech he had originally planned to make from an air craft carrier while dressed in a fighter pilot uniform. "It took a while, but we finally convinced the President that the being a 'top gun' had nothing to do with the current financial crisis," said a White House spokesman.

Sep 19 10:23

Pelosi, Kerry May Share Investor Pain as AIG Stakes Evaporate

Webmaster's Commentary: 

Which means they will support any plan that transfers their losses onto the taxpayers.

Sep 19 10:22

Comex Raises Margin Rates on Gold Contracts by 47%, Silver 20%

Webmaster's Commentary: 

This is designed to discourage people from leaving the stock market and sheltering their wealth in metals.

Sep 19 10:17

Toxic-debt plan and short-selling curbs lift markets

The U.S. government was crafting a sweeping bailout to mop up toxic mortgage debt that will likely cost hundreds of billions of dollars, curbed short-selling and guaranteed money-market mutual funds, sending global stock markets soaring on Friday.

Webmaster's Commentary: 

The problem has not gone away. It's just been shifted from Wall Street onto the taxpayers.

Sep 19 10:16

How Dare They Spend Trillions on Corporate Welfare, Without...?

They're spending over a trillion dollars to rescue doddering, failed companies that deserve to die. How dare they-- the congress-- allow the Fed and the Whitehouse to spend so much without oversight.

Sep 19 10:16

New bailout planned

Government program could take hundreds of billions of dollars worth of bad debt off Wall Street's books.

Webmaster's Commentary: 

... and stick you with them.

Sep 19 10:15

World holds its breath as US prepares to unveil bailout

Details of the biggest US federal bail-out since the Great Depression are set to emerge today as Washington sought to stop this week's domino-style collapse of banks and insurers.

Webmaster's Commentary: 

"And then we wave the magic wand ..." -- Official White Horse Souse

Sep 19 10:13

Bombing of Innocents in Iraq Is the Act of Terrorists

For instance, the media portray the operations as terrorist acts by Al Qaeda and they attribute the terrorist acts to the "insurgents," which means the Resistance. In reality, the terrorist acts against the Iraqis are not the act of the Resistance but the act of the occupation and its lackeys.

Sep 19 10:13

Tutu urges Israel 'war crime' probe

Desmond Tutu, the South African archbishop, has said that Israel may have committed a war crime when it attacked the town of Beit Hanoun in Gaza two years ago, killing 19 people.

Sep 19 10:12

USA plans to replace Saakashvili by Burjanadze or Alasania

The American side intends to make the former speaker of the Georgian Parliament Nino Burjanadze or the permanent representative of Georgia to the UN Security Council Irakli Alasania the president of Georgia, declared Vladimir Zhirinovsky, the head of the Liberal Democratic Party of Russia (LDPR) during a meeting with Prime Minister of Russia Vladimir Putin. “Our faction has information about it,” said Zhirinovsky.

Sep 19 10:10

A Credit Derivatives Risk Primer

Welcome to the brave new world of credit derivatives driven collapses. A world that is far more dangerous than the world of subprime mortgage derivatives. A complex world that because of its sheer size can potentially cause more damage in a matter of days than the subprime mortgage derivatives caused in their first year in the headlines. The chart below shows the relative size of the credit derivatives and subprime mortgage markets.

Sep 19 10:00

Must America's Fate Be Tied to NATO and Georgia?

The U.S. Constitution assigns the power to declare war to Congress. The North Atlantic Treaty issued by the United States and other founding members of NATO in 1949 states that an attack on any member of the military alliance must be viewed as an attack on all of the members. By becoming a party to NATO, our government subverted the congressional war power, for now an attack on any one of a group of nations would pull the United States into a war with or without a congressional declaration.

Sep 19 09:51

Should Election Day be a FEDERAL NATIONAL HOLIDAY?

85% (1760 votes)
15% (308 votes)
Total votes: 2068
Sep 19 09:50

Special Report: What Is Causing the Worst Financial Crisis?

We are now looking at as much as $500 billion in subprime risk – but like an iceberg our economy, The USA TITANTIC, is facing just the tip. Underneath the surface lies corporate debt, commercial paper, credit card debt and other portfolio debt. It is so bad that soon we may be hearing about municipal bond failures. Yes, entire towns may be going out of business and unable to carry its debt load.

Sep 19 09:48

FLASHBACK - Bush Quips He Might Stay in Power

Reporter: Mr. President, following up on Vladimir Putin for a moment, he said recently that next year, when he has to step down according to the constitution, as the president, he may become prime minister; in effect keeping power and dashing any hopes for a genuine democratic transition there ...

Bush: I've been planning that myself.

Sep 19 09:47

Report: Voting problems in several swing states

Sep 19 09:47

Analysis: Obama regains momentum in tight race

The party conventions and the Sarah Palin surge behind them, Barack Obama and John McCain are neck and neck again in their race for the White House — with the momentum and the political environment tilting toward the Democrats.

Sep 19 09:47

Tab for Government Rescues Rises to $900 Billion

Tab for Government Rescues Rises to $900 Billion

Webmaster's Commentary: 

BEFORE the cost of Bush's latest plan announced this morning.

Sep 19 09:46

Is your bank trying to keep you from fleeing the markets?

I am at odds with PNC Wealth Management, the current fiduciary trustee of my trusts. The gang at PNC and one of my trustees unanimously agree that the U.S. economy is not going to crash, the stock market is not going to crash, that there might be a few hardships here and there, but they have full faith in the economic recovery of the United States. I had a conference call yesterday where I was tag teamed by five people from PNC and one trustee, but in the end, not one could substantiate why the U.S. economy would turn around.

Sep 19 09:39

Russia: Nato Provoked Georgia War

His remarks followed on from those of Russian Prime Minister Vladimir Putin, who attacked what he described as other countries' "attempts to drag us back into the Cold War".

Sep 19 09:36

America will need a $1,000bn bail-out

But can this extraordinary vote of confidence in the dollar last? Perhaps, but as investors step back and look at the deep wounds of America's flagship financial sector, the public and private sector's massive borrowing needs, and the looming uncertainty of the November presidential elections, it is hard to believe that the dollar will continue to stand its ground as the crisis continues to deepen and unfold.

Sep 19 09:31

Indiana Presidential Polls Mixed

A new CNN Poll released Wednesday afternoon shows Republican John McCain with a 51-45 percent lead over Barack Obama in Indiana. The poll was conducted Sunday through Tuesday, in the middle of the financial crisis that hit Wall Street and had a 3.5 percent +/- error rate. An Indianapolis Star-WTHR-TV poll taken during the same period had Obama leading 47-44 percent.

Sep 19 09:23

One Last Diatribe Before We Get Specific.

One respondent made me laugh. He said I would accomplish a lot more by just telling people on the street that I love them. He also didn’t think much of my attitude toward the sheep and what he inferred was my harsh declarations about what may happen to them. I’m not sure I even used the word sheep, I might have but I don’t use it often. What I immediately wondered was, “What does this guy think happens to sheep anyway?”

Sep 19 09:10


Sep 19 08:59

VIDEO - Robert F. Kennedy Jr. How the news media fails us

Sep 19 08:58

Network: I'm As Mad As Hell And I'm Not Gonna Take It Any More!

Webmaster's Commentary: 

Before you can solve it, you have to get angry about it!

Sep 19 08:55

Media Obstruction in Galveston

I don’t think they want us to see images that may remind people… of the images that we saw in New Orleans. I don’t think they want us to see the images that were seen in Waveland, Mississippi or Gulfport… I think that’s the reality; they do not want us to see yet, until they can control what we see and how we see it. And that is simply, at least in my career, unacceptable. Maybe a lot of reporters won’t say it, but I will. I think they do not want us to see images of potential fatalities that may be on land or on water.

Sep 19 08:53

Hurricane Ike news blackout on dead bodies

News 13 in Houston reveals there is a news blackout on the truth of the fatality numbers. Government officials are not being honest on the real story of the dead from hurricane Ike.

Sep 19 08:51

U.S. military advisors may soon head to Pakistan

The U.S. and Pakistan have cleared remaining obstacles, so the long-delayed team may arrive within weeks, Joint Chiefs Chairman Michael Mullen says.

Webmaster's Commentary: 

"Let's crank up a war in, well, heck, I don't care, anywhere... as long as it takes the suckers' minds of the econmy before the election!" -- Official White Horse Souse

Sep 19 08:47

Money Market Funds Enter a World of Risk

Money market funds have been among the few places that investors could put their cash and sleep peacefully.

Webmaster's Commentary: 


All investment entails risk. "Risk-free" investment is at best a slogan on a sales brochure, at worst self-delusion. The reason that Wall Street got into trouble (again) is the belief that risk could be "managed" and made to pretty much go away. So investors kept buying stock
and mortgage-backed securities even as the high paying jobs Americans needed to pay those mortgages started to vanish. And apparently, NOBODY in the high towers of finance or Washington DC picked up on the fact that the two trends had to collide sooner or later.

Today, courtesy of the US Government, "Risk management" now means "dump the risk on the workers. Stick them with the losses."

"Risk-free" investment now means screwing the taxpayer.

Sep 19 08:42

Official: Why weren't managers charged in oil-sex scandal?

The Interior Department's watchdog criticized the Justice Department on Thursday for declining to prosecute the managers of an oil- and gas-royalty program that's been tainted by allegations of illicit sex, drug use and taking favors worth thousands of dollars.

Webmaster's Commentary: 

"We are above the law." -- Official White Horse Souse

Sep 19 08:41

For AIG, $85 billion might not be enough

American International Group's deal with the government is a bankruptcy liquidation in all but name, and the $85 billion it has borrowed may not be enough extra money to pay off all its obligations, particularly in its derivatives books.

Webmaster's Commentary: 

Bad money after good.

Sep 19 08:38

Fannie Mae and Freddie Mac Invest in Lawmakers

When the federal government announced two months ago that it would prop up mortgage buyers Fannie Mae and Freddie Mac, CRP looked at how much money members of Congress had collected since 1989 from the companies.

Webmaster's Commentary: 

Which explains why every government "fix" the the economy involves sticking the people with the costs.

Sep 19 08:34

Wall Street's investment banks deserve to die

At the risk of speaking ill of the dead, what good was Lehman Brothers, anyway? And if Merrill Lynch was so bullish on America, why is it that, despite the torrent of foreign investment that flowed in to Lehman, Merrill and their Wall Street peers over the past half-decade, so few jobs were created in America during that period of ''recovery''?

Sep 19 08:34

McCain Attacks Wall Street Greed—While 83 Wall Street Lobbyists Work for His Campaign

McCain has been quick with fiery, populist-tinged speeches. But one thing has been missing: any acknowledgment that McCain's own campaign has been loaded with the type of people he's been denouncing. (The McCain campaign did not respond to a request for comment; we will update the post if they do.) As Mother Jones previously reported, former Senator Phil Gramm, McCain's onetime campaign chairman, used a backroom maneuver in late 2000 to slip into law a bill that kept credit default swaps unregulated.

Sep 19 08:33

Hey U.S., welcome to the Third World!

It's not every day that a superpower makes a bid to transform itself into a Third World nation, and we here at the World Bank and the International Monetary Fund want to be among the first to welcome you to the community of states in desperate need of international economic assistance. As you spiral into a catastrophic financial meltdown, we are delighted to respond to your Treasury Department's request that we undertake a joint stability assessment of your financial sector.

Sep 19 08:32

U.N. assembly opens door to enlarged Security Council

Several U.N. diplomats described the breakthrough as "historic", saying it greatly increased the likelihood that the council will become larger and more representative of the world of the 21st century.

Webmaster's Commentary: 

And with every one of them having a veto, totally unable to accomplish anything.

Sep 19 08:31

Incredible Documentary Footage of Mass Arrest in St. Paul

Sep 19 08:30

Polls Show Palin Is Starting to Drag Down McCain

Bloggers and tradmed reporters took a hard look at Sarah Palin and began raking her over the coals for myriad transgressions. She is a liar with theocratic tendencies, sports an intellect that makes Bush look like a Mensa member, and features an obvious fondness for Cheney-style abuses of power. And that's not even the worst of it.

Sep 19 08:29

Sarah Palin's dead lake

By promoting runaway development in her hometown, say locals, Palin has "fouled her own nest" -- and that goes for the lake where she lives.

Sep 19 08:29

Hannity Spoonfeeds Palin GOP Talking Points On Troopergate And More

In Part 2 of his lapdog interview with Sarah Palin on last night’s (9/18/08) Hannity & Colmes, Sean Hannity made a pretense of probing into some of the many controversies swirling around her: Troopergate, the Bridge to Nowhere, her interest in book banning and her connection to the fringe secessionist Alaskan Independence Party. But Hannity’s “questions” were posed in such a way as to steer Palin into a safe haven of polished spin, replete with distortions and contradictions all of which Hannity ate up as Truth.

Sep 19 08:25

9-11 and the Crisis on Wall Street

The current financial crisis in the United States involves some of the very same Zionist criminals and entities that I pointed out in my recent chapter, "The Architecture of Terror: Mapping the Israeli Network Behind 9-11."

The collapse of their criminal scams on Wall Street could result in more information coming out about the Zionist gangsters behind 9-11. Such outrageous criminal scams cannot be kept hidden for long.

Webmaster's Commentary: 

"Gimme $85 billion or I'll tell everyone who REALLY did 9-11, schmuck!"

Sep 19 08:23

Confessions of a sub-prime mortgage baron

Bitner was co-founder and president of Kellner Mortgage Investments, a firm which specialised in providing high-risk loans of the sort that triggered America's mortgage meltdown and credit crunch. Now out of the game, he compares himself to a drug dealer, acknowledging that his trade has achieved pariah status in the public eye.

Sep 19 08:22

Bush on Financial Crisis

Sep 19 08:22

Halifax chief keeps £2m reward despite leading Britain's biggest mortgage lender to the brink

The man who brought HBOS to the brink of collapse as chief executive is to keep his £2million-a-year job, despite leaving tens of thousands of staff facing redundancy, it has emerged.

Sep 19 08:21

Glitch Shuts Down Giant Atom Smasher

In a statement Thursday, the European Organization for Nuclear Research reported for the first time that a 30-ton transformer that cools part of the collider broke, forcing physicists to stop using the atom smasher just a day after starting it up last week.

Sep 19 08:11


Remember the movie "Network?" "I'm mad as hell and I'm not going to take it any longer!"

You need to be there. You need to get angry. REALLY angry. Mad-dog pissed off angry. Ready to start shooting angry. You need to say, "I'm mad as hell and I'm not going to take it any longer", and you need to say it like you mean it.
Because if you stay silent and let the greedy bastards pull this off, it will be the end of the middle class. There will be the ultra-rich with their severance packages, and everyone else will be taxed into poverty to support them.

Webmaster's Commentary: 

UPDATE: Link to is fixed. Start calling and faxing.
I am reposting this today because President Bush has just finished his speech saying that "we" must all deal with this crisis. He is sending to Congress his plan to have the US Taxpayer buy up all these worthless assets that the big banks and investment houses bought in their greed, then when they discovered that nobody wanted to buy them, called up their favorite government pawns to FORCE you to buy them collectively.

Bush is already claiming that in the long run, this plan won't really cost you anything. Keep in mind that this is the same man who promised you that Iraq's oil would pay for the war and reconstruction, and his father made the same claim about the S&L bailout.

Fool me once ...

This is a disaster for Americans. The immediate cost is estimated at $3200.00 for every man, woman, and child living in the United States, but since large segments of the population do not pay taxes, the actual burden on taxpayers will be far higher. And all to save the gambling addicts on Wall Street from the painful reality that investment involves RISK; that you are going to LOSE money on certain investments just as you will lose your chips when the dice roll the wrong way.

Wall Street wants its cake and eat it to. They want to go on gambling and feel that thrill of the big win, and keep their wealth. But they want to dump the losses on someone else, and Bush is going to help them do it. On you.

This does NOT fix the economy. Yes, the DOW is soaring and the gambling addicts are happy and no doubt writing huge checks to their favorite candidates who just sold your soul to them, but take a look out the window. Are the high-paying jobs coming back? Are prices for basic necessities going back down? Are the mortgage companies calling you up and saying "We changed our minds and you can keep that lower interest rate?" No? I did not think so.

You have one chance and one chance only to stop this disaster.

This is an election year. Call every single incumbent you can, and tell them you will not be forced to pay for other people's reckless mistakes, nor will you vote for anyone who dare suggests that we be forced to pay for other peoples' reckless mistakes. Then get on every BBS, message board, and blog you can and urge others to do the same.

If there was ever a time to be "Mad as hell, and I'm not going to take it any more", this is it.

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Sep 19 08:02

Russia test-fires new-generation strategic missile

Russia said Thursday it had test-fired a new-generation strategic missile from a submarine, the latest launch of a multiple-warhead weapon designed to breach anti-missile shields.

"A new-generation Bulava ballistic missile was successfully fired from the White Sea to the Kura testing site in Kamchatka" in Russia's far east, the Russian navy said in a statement.

Webmaster's Commentary: 

If my sources are correct, this is the missile that uses reentry vehicles able to maneuver and evade the US anti-missile system.

Sep 19 08:00

Underwear police minister sacked in Australia

Witnesses said the minister, Matt Brown, dressed only in "very brief" underpants, danced to loud techno music on a green leather Chesterfield sofa, then climbed on top of a fellow Labor MP, Noreen Hay, and straddled her breasts.

Turning to Ms Hay’s adult daughter, Mr Brown allegedly called out to her that he was performing a sexual act on her mother.

Sep 19 07:58

Nato should stop expanding, says UK think tank

Nato needs to stop expanding, according to a leading British strategic think tank. The International Institute for Strategic Studies challenged the Nato secretary-general today by warning against embracing Georgia and Ukraine in the light of last month's Caucasus war.

Sep 19 07:58

The Party's Over

The Crash of 2008, which is now wiping out trillions of dollars of our people's wealth, is, like the Crash of 1929, likely to mark the end of one era and the onset of another.

The new era will see a more sober and much diminished America. The "Omnipower" and "Indispensable Nation" we heard about in all the hubris and braggadocio following our Cold War victory is history.

Sep 19 07:53

The End Of The United States

What Paulson has announced is this: he will establish a Federal agency to buy up what will amount to trillions of dollars of bad debt. The debt will become the liability of the US taxpayer. The bankers will get off scot free. The US will also insure investors in US money-market funds, which have seen significant withdrawals in recent days.

The idea is that, in a reflection of the Resolution Trust Corporation, the debt will be warehoused so that it can get the chance “for much of it to recover a portion of its value.”

Sep 19 07:52

Key senators dispute FBI's anthrax case against Bruce Ivins

Already, after 30 minutes or so, the two ranking members of the Committee have both told Mueller that, in essence, they do not accept or believe the FBI's accusations against Bruce Ivins. The Democratic Chairman of the Committee, Pat Leahy (who was a target of the anthrax attacks) told Mueller categorically that he simply does not believe that Ivins was the prime culprit if he was a participant at all, and said he is absolutely convinced that there were others involved in the preparation and mailing of the anthrax.

Sep 19 07:48

Paulson plan could cost $1 trillion

Congressional leaders said after meeting Thursday evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke that as much as $1 trillion could be needed to avoid an imminent meltdown of the U.S. financial system.

Webmaster's Commentary: 

That comes out to $3200.00 for every man, woman, and child in the United States.

Bush is speaking now, putting the blame onto the sub-prime mortgages, but in truth the government is to blame for handing out huge tax credits to corporations to maker it easier for them to offshore the high-paying manufacturing jobs that would have allowed Americans to pay their mortgages.

And keep in mind, this is an exact repeat of the scam that Bush's father played with the S&Ls. It is NOT a coincidence.

"If the people were to ever find out what we have done, we would be chased down the streets and lynched." -- George Bush, cited in the June, 1992 Sarah McClendon Newsletter

Sep 19 07:42

Sami El Haj, Al Jazeera Journalist, Tells His Story

Held Hostage For Six Years In Guantanamo

Sep 19 07:41

Reckless? You’re in Luck

If an activity is important enough to justify a government nationalization to prevent a default, it is important enough to be regulated. The regulators need to know what risks are being taken, and by which institutions, in time to act before a crisis develops.

Had the government bothered to do that in years past, it might not have faced the decisions it faced this week. First, it let one big firm go down, and then it became scared enough to nationalize another one to keep it afloat.

Sep 19 07:39

Economy how they fucked you. Second edition.

Are we a gambling nation? Do we let speculators drive us into the ground by making bets on what was nothing but predatory lending from the beginning? Don't you want to know where the money went? Don't you want to know who the shadow economy is comprised of and maybe where they live?

Sep 19 07:37

Ron Paul Blasts “Secret Government” Running Economy

Sep 19 07:35

Vicente Fox Tells American Workers To “Get Over It”

An interview with EX president of Mexico Vicente Fox at Wayne State University September 12, 2008 where he tells American workers to “get over it”, that their jobs are gone forever and that they must retrain for GLOBAL work. The news report also calmly mentions that he wants a North American Union (you know, that thing that doesn’t exist) and a single Amero currency.

Webmaster's Commentary: 

The problem with a single North American union is that before the borders can come down, the standard of living for ordinary Canadians and ordinary Americans must be brought down to the same level as ordinary Mexicans.

Sep 19 07:26

Central Banks Offer Extra Funds to Calm Money Markets

The Fed increased the amount of dollars that the European Central Bank, the Bank of Japan and other counterparts can offer from $67 billion “to address the continued elevated pressures in U.S. dollar short-term funding markets.” The Bank of England, the Bank of Canada and the Swiss National Bank also participated.

Webmaster's Commentary: 

Hey, it's not like they are using their own money!

Sep 19 07:25

US Jews to Hollywood stars: Boycott Israel celebration!

As Jewish North Americans, we are outraged at the policies the state of Israel has implemented in our names and with our government's financial support for more than sixty years. At the same time, we are inspired by the ongoing creative resistance of the Palestinian people, and most recently the unified civil society call for boycott, divestment, and sanctions against Israel until it complies with international law. We ask you to heed this call.

Sep 19 07:22

Dispossession by Decree

The FED's action amounts to the $85 billion purchase of a private company, on behalf of the federal government, using public funds -- without political accountability of any kind. Outrageous as it is, this action may have the healthy, if thoroughly unintended, consequence of illustrating just who actually runs our political system and economy.

Sep 19 07:20

Armageddon Postponed - Fed Intervenes In Money Markets

The Fed has announced new liquidity measures this morning governing non-recourse funding of asset backed commercial paper and plans to purchase short-term debt obligations issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.

Sep 19 07:18

Credit-Default Market Freezes as Risk Grows

Parts of the market for credit-default swaps froze up Thursday, as large dealers sought to limit their exposures to each other amid worries about the ability of financial institutions to meet their obligations.

Sep 19 07:17

The Finest Foreclosures

The housing crisis is spreading to many luxury neighborhoods, as mansion-size defaults stun the industry.

Sep 19 07:17

Norway offers $1 billion towards saving the Amazon rainforest

Norway will donate up to a billion dollars to a Brazilian government fund that aims to protect the Amazon rainforest.

Sep 19 07:16

Poll: Americans are pessimistic about financial crisis, government's action

Despite a massive government effort to shore up the nation's financial system, Americans are deeply pessimistic about whether it will work anytime soon, according to a new Ipsos / McClatchy poll.

Webmaster's Commentary: 

It took thirty years to get the economy into this mess. Thirty years of selling our manufacturing overseas, looting the infrastructure, and transforming the stock market from planning on dividends to speculating on tomorrow's price gain. A couple of "stay rich" schemes played on the backs of the taxpayers is not going to fix the system and the taxpayers know it.

Sep 19 07:14

SEC Halts Short-Selling in 799 Financial Stocks

The Securities and Exchange Commission temporarily banned short-selling on 799 financial stocks to boost investor confidence on Friday, one day after the UK Financial Services Authority took a similar step.

Webmaster's Commentary: 

"Boosting consumer confidence" sounds a lot like a Las Vegas Casino promising every player will be a winner.

Sep 19 07:13

US Launches Broad Rescue Of Financial Markets

Webmaster's Commentary: 

It is estimated that the plan will cost the taxpayers half a trillion dollars. Now, setting aside that the actual cost will probably be higher (as it was in the 1980s S&L bailout), that works out to about $1600.00 for every man, woman and child in the US. For those who are in the stock market, this is a sweet deal because they get to walk away from hundreds of thousands of dollars in losses for that $1600.00 so expect them to cheer for the plan. But remember that there are many people in the US, such as everyone children or the elderly, who do not and cannot cough up $1600, so the reality is that for actual taxpayers, the cost will be much higher.

And in the end, it still comes down to patching a system that is fatally flawed. Bush isn't interested in fixing the system; he just needs to hold it together until the end of the year (or at least until November 4th). After that, it's some other President's problem.

Sep 19 07:06

[Video] What is left on the cutting room floor

Mike Wallace Interviewed Iranian President Mahmoud Ahmadinejad on 60 Minutes. At the request of the Iranian President Ahmadinejad, the FULL UNEDITED version was shown on C-SPAN. "The cable public affairs net will air the 60 Minutes edited version, followed by the full 90-minute interview, to give viewers a window on what is left on the cutting room floor." - John Eggerton -- Broadcasting & Cable, 8/11/2006

Sep 19 07:03

Escape of the bankrupt

The world's financial markets remain at the eye of a perfect economic storm. The architects of this almighty financial sell-off? The banks themselves. The markets are in complete disorder, yet they remain unable to solve the situation themselves, and so go looking for a public sector bailout. Risk management, the buzz word of the financial markets since the collapse of Barings Bank in 1995, is clearly an oxymoron.

Sep 19 07:00

Dow surges 400 points

Stocks soar at the open after Paulson and Bernanke seek to soothe investors with another bailout.

Webmaster's Commentary: 

Translation: The gambling addicts on Wall Street head back to the tables on news that the losses will be paid by the taxpayers.

Sep 19 02:20

Foreclosures prompt plunge in Calif. home prices

Home sales in California surged in August as a flood of foreclosures tugged down prices.

Figures released Thursday by MDA DataQuick showed 37,988 new and preowned homes were sold statewide last month, up 13.6 percent from August 2007 but down 3.8 percent from July.

The firm said 46.9 percent of all homes sold last month were foreclosed properties.

That helped send the statewide median home price plunging 35.3 percent to $301,000 during the year ended in August.

Sep 19 00:36

America and China Joined at the Hip


18/9/08 "Counterpunch" -- - With the government now having spent over $800 billion in less than a year shoring up tottering financial companies that had become little more than casinos (and rigged ones at that), America is looking increasingly like China, a country where the state has been gradually getting out of the business of directly owning companies.

September 18, 2008

Sep 18 22:02

Burning the Town in Order to Save It

This may be the stupidest move yet in the "war on terror" -- a Texas municipality turned off its fire hydrants for fear of terrorism:

Sep 18 21:55

In hard times, tent cities rise across the country

Since foreclosure mess, homeless advocates report rise in encampments

Thurs., Sept. 18, 2008
RENO, Nev. - A few tents cropped up hard by the railroad tracks, pitched by men left with nowhere to go once the emergency winter shelter closed for the summer.

Then others appeared — people who had lost their jobs to the ailing economy, or newcomers who had moved to Reno for work and discovered no one was hiring.

Sep 18 19:49

WaMu next to fall?

US OFFICIALS are fiercely putting out a series of economic fires with all eyes now focused on the fate of Washington Mutual after AIG became the latest company to be thrown a lifeline.

Webmaster's Commentary: 

Who is throwing We The People a lifeline?

Sep 18 19:39


So, it's really up to you.

Remember the movie "Network?" "I'm mad as hell and I'm not going to take it any longer!"

You need to be there. You need to get angry. REALLY angry. Mad-dog pissed off angry. Ready to start shooting angry. You need to say, "I'm mad as hell and I'm not going to take it any longer", and you need to say it like you mean it.

Because if you stay silent and let the greedy bastards pull this off, it will be the end of the middle class. There will be the ultra-rich with their severance packages, and everyone else will be taxed into poverty to support them.

Optional Banner: 
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Sep 18 18:25

FEMA Says No to Ice For Hurricane Survivors

Hurricane survivors are being put at risk in Texas and other hot weather states because the Federal Emergency Management Agency (FEMA) is no longer providing ice in relief situations, say watchdogs, relief workers and local leaders in Hurricane Alley.

"It's frustrating that the government can deliver $85 billion to bail out AIG, and they can't deliver ice in Texas," said Ben Smilowitz, executive director of the Disaster Accountability Project (DAP), a nonpartisan organization that monitors the nation's disaster response system.

Webmaster's Commentary: 

Memo to the citizens of the US; if there's any kind of catastrophe in this country (other than financial, where you know this government will rush to protect the assets of the wealthy) you're absolutely on your own.

Sep 18 18:01


Historians may look back on September, 2008 as America’s economic 9/11. Major financial institutions are collapsing—to use a bitter analogy–like the twin towers: first, Bear Stearns (already 6 months ago!); and now, Lehman Brothers, Merrill Lynch and the insurance giant A.I.G. Just as 7 years ago, we cry out, What hit us? Who did this? Why?

Webmaster's Commentary: 

And when can we tar and feather them?

Sep 18 17:54

'The World As We Know It Is Going Down'

Panic is the word of the hour on Wall Street. Now even Morgan Stanley is fighting for survival. The commercial bank Wachovia and China's Bank Citic are being discussed as possible rescuers. The crisis has led President Bush to cancel a trip.

Sep 18 17:39

Federal bailout of U.S. auto industry

Executives from General Motors, Ford and Chrysler met with congressional leaders this week to get government handouts to keep their businesses afloat. McCain and Obama both have voiced their support for a proposed $25 billion corporate welfare plan. This bailout seems likely to pass in light of other investor bailouts this week as Republican and Democratic lawmakers practically tripped over each other to extol the virtues of American automotive innovation.

Sep 18 17:19

A Guilty Agent: The Shadowy Role of Timothy McVeigh

Was Timothy McVeigh being secretly trained, as he told his sister, to be a paid government assassin?

Sep 18 16:48

GOP seeks ban on political clothing at polling places

If top state Republicans get their way, you can forget about wearing that Obama T-shirt when you step up to cast your vote Nov. 4.

Palin pins will be off limits, too.

Webmaster's Commentary: 

After all, if everyone you see at the poll is wearing an Obama shirt, and McCain is declared the winner, it might get "awkward."

Sep 18 16:11

Wall Street Shake-up Connects to Washington Through Contributions, Personal Investments

Wall Street's grim news has plenty of people worried about their pocketbooks. Lawmakers are among them, not only concerned with how to boost the economy but with their own personal finances tied to companies that are struggling. The richest members of Congress seem to be the most invested in the companies at the center of the Wall Street shake-up.

Webmaster's Commentary: 

So don't expect them to be worrying about you!

Sep 18 16:10

Sarah, stop the slander

I honestly am just so frustrated with what Gov. Palin has been doing and saying, I cannot write what I was going to write. What she is attempting to do with Walt Monegan - shift the blame and public disgust to him, rather than be "open" and "welcome the investigation" as she has repeatedly promised in the past - is just beyond digust to me.

Sep 18 16:06

Chart of who "owns" the Federal Reserve

Sep 18 16:02

Credit Crisis Out of Control- US Government Admission "No One Knows What to Do"

"We are in new territory, this is a different game," Reid said at a briefing in Washington. Neither Federal Reserve Chairman Ben Bernanke nor Treasury Secretary Henry Paulson "know what to do but they are trying to come up with ideas," Reid said.

Webmaster's Commentary: 

"I know, I know; I'll stick the taxpayers with the mess, just like daddy did!!!" -- Official White Horse Souse

Sep 18 15:56

Homeland Security, Sesame Style

In a move that will make Bush administration detractors bring back those duct tape jokes again, the Department of Homeland Security has partnered up with the famous children’s show.

Sep 18 15:50


The Fed is buying an insurance company? Where exactly is that covered in the Federal Reserve Act? The Associated Press calls it a “government takeover,” but this is not your ordinary “nationalization” like the purchase of Fannie/Freddie stock by the U.S. Treasury. The Federal Reserve has the power to print the national money supply, but it is not actually a part of the U.S. government. It is a private banking corporation owned by a consortium of private banks. The banking industry just bought the world’s largest insurance company, and they used federal money to do it.

Sep 18 15:11

Stocks surge on report of entity for bad debt (another view)

Sep 18 15:09

No bank is safe in this alarming atmosphere

BE very, very careful. There are reports the US Federal Deposits Insurance Commission is running out of money. Chairman Sheila Blair has been forced to issue a statement. "US banks are overwhelmingly safe and sound and the Government fund used to cover insured deposits will be adequate to absorb any losses, even high losses," she says.

Sep 18 15:07

Paul: ‘I could never support somebody who thinks that it’s funny to say bomb bomb bomb Iran.’

Webmaster's Commentary: 

Me neither.

Sep 18 15:06

Need a Job? $17,000 an Hour. No Success Required.

You should be raking it in like Richard Fuld, the longtime chief of Lehman Brothers. He took home nearly half-a-billion dollars in total compensation between 1993 and 2007.

Last year, Mr. Fuld earned about $45 million, according to the calculations of Equilar, an executive pay research company. That amounts to roughly $17,000 an hour to obliterate a firm. If you’re willing to drive a company into the ground for less, apply by calling Lehman Brothers at (212) 526-7000.

Oh, nevermind.

Sep 18 15:06

Feels Like Financial Terrorism

It almost feels like financial terrorism. It feels like we are in a moment where there are institutions that are willing the destruction of our banks, institutions that want the nation's financial system to fail. I have no evidence of any of this, honestly, and I have canvassed enough short-sellers today to be able to say that I do not know one of them at this point who wants our financial system to be destroyed for his or her own profit.

Sep 18 15:05

Putnam Investments Closes $12B Money-Market Fund

Putnam Investments has closed a $12.3 billion money-market fund to limit losses to its investors, the large mutual fund company said today. The highly unusual announcement is the latest sign that tremendous financial pressures are now threatening even some of the safest kinds of investments.

Sep 18 15:04

Panic, Consolidate, Game Over

Hidden inside the AIG bailout funding package, surely hastily cobbled together, but carefully enough to include a totally corrupt clause, was a handy dandy clause that permits raids. The conglomerate financial firms are permitted at this point to use private individual brokerage account funds to relieve their own liquidity pressures. This represents unauthorized loans of your stock account assets. So next, if the conglomerate fails, your stock account is part of the bankruptcy process.

Webmaster's Commentary: 

The looting has begun!

Sep 18 14:58

Comrade Bernanke Does it Again

By nationalizing nearly 80% of AIG for $85 billion, the Fed is doing a lot more than simply flushing taxpayer money down the toilet. The greater wrong is allowing the agency that has the power to print money to take control of a private enterprise, especially without the approval of the company's shareholders. The move represents the largest lurch toward socialism that this country has ever seen, and signals the end of the vibrancy of America's once vaunted free market economy.

Sep 18 14:00

Stocks surge on report of entity for bad debt

Wall Street had a stunning late-session turnaround Thursday, shooting higher and hurtling the Dow Jones industrials up more than 400 points after a report that the federal government may create an entity that will take over banks' bad debt.

Webmaster's Commentary: 


Sep 18 12:42

Why the Poker Game is Ending

George Washington’s Blog
Thursday, Sept 18, 2008

In his book “Secrets of the Temple: How the Federal Reserve Runs the Country”, leading journalist William Greider said that the economy is like a poker game. He said that it is human nature to want to get all of the chips, but noted that - if one person does get all of the chips - the game ends.

In other words, the game of capitalism only continues as long as everyone has some money to play with. If the government and corporations take everyone’s money, the game ends.

Sep 18 11:54

Sarah Palin: How the Moose-y Have Fallen

America was very, very excited when Sarah Palin burst onto the national stage at the end of August. She's a woman, she's from a strange land with extreme bouts of darkness and light, she kills moose, she has an exciting family life, and her convention speech showed she wasn't afraid to throw some sass at her opponents. Joe Biden, on the other hand, was this kind of old, boring white guy who knew a lot about foreign policy. Some called McCain's pick a stroke of strategic genius, and wondered if Barack Obama played it too safe.

Sep 18 11:53


Webmaster's Commentary: 

Yesterday some rouge anonymous group distributed in Barcelona 200.000 copies of a home-published newspaper in several languages promoting a revolt against banks, explaining what to do to bring them down and naming names, explaining how the capital system controls media, and other interesting subjects.

Sep 18 11:52

How the GOP Wired Ohio's 2004 Vote Count for Bush to Win

A Republican computer data security expert tells how cyber-partisans could have stolen the 2004 election.

Sep 18 11:50

Citi: That Sinking Feeling

For all its financial might, Citigroup (C) is undercapitalized according to some Wall Street analysts sounding fresh alarms about the banking behemoth's balance sheet. Citigroup shares tumbled nearly 7% on Nov. 1 after three analysts downgraded the company's stock.

Sep 18 11:01

Morgan Stanley Shares Down Again

Morgan Stanley's share price plunged by around 20% on Thursday as the US investment bank tried to strike a major deal or raise more cash.

Sep 18 10:54

Palin's Anti-Rape-Investigation Stance Raised by McCain Campaign. Will Reporters Question?

Here's what we know. First, the state had to pass a law to mandate the funding of processing of "rape kits" (the forensics evidence collected in rape cases), specifically because of Wasilla, under Mayor Palin. That policy of not paying for rape kits was not in place when Palin took office -- the town paid for rape exams and rape kit processing before she was Mayor.

Sep 18 10:52

Iranian Foreign Minister visits Georgia

Webmaster's Commentary: 

If Iran gets cozy with Georgia, there goes the US plan to attack Iran from the north.

Sep 18 10:51

Engine failure ruled out in Russian airline crash

The Interstate Aviation Committee said both engines on the Boeing 737-500 were working when it crashed Sunday while preparing to land in the Ural Mountains city of Perm. The plane belonged to the Russian carrier Aeroflot-Nord.

Webmaster's Commentary: 

Like I said, the original story didn't smell right.

Sep 18 10:43

US Bank Derivative Exposure

Chris Whalen at the Institutional Risk Analyst asks an interesting question: How Much Capital Does a Bank Need?

The short answer: Alot.

The longer answer depends upon the bank's derivative exposure.

Sep 18 10:42

Pseudo-Nazi Bill White is at it again

For those of you that still don’t know, Bill White is the self appointed leader of the American National Socialist Workers Party, an ADL/SPLC front used by the Zionists to incite violence against minorities. I’ve written about this fake Nazi before, in an article entitled Alleged White Supremacist Bill White‘s Kosher Attack on Ron Paul,” in which I detail Bill White’s past, he grew up in a Jewish neighborhood and attended predominantly Jewish schools.

Sep 18 10:40

Democratic Congress May Adjourn, Leave Crisis to Fed, Treasury

One reason, Senate Majority Leader Harry Reid said yesterday, is that ``no one knows what to do'' at the moment.

Webmaster's Commentary: 

Try abdication.

Sep 18 10:37

FLASHBACK - VIDEO - The King of Predatory Lending, Roland Arnall

Predatory lending and mortgage servicing fraud.

Sep 18 10:37

FLASHBACK - VIDEO - Roland Arnall: Rapist, Murderer, Ambassador

Roland Arnall is the CEO of Ameriquest and has ruined many lives. What's his reward? He was appointed ambassador to the Netherlands.

Sep 18 10:37

FLASHBACK - VIDEO - Ameriquest Document Dump

40 Boxes of Ameriquest Mortgage Customer's personal documents found in dumpster.

Sep 18 10:37

FLASHBACK - VIDEO - Ameriquest Investigation

Brian Ross Investigates Ameriquest Mortgage. Roland Arnall is named in class action lawsuit against Ameriquest Mortgage.

Webmaster's Commentary: 

Roland Arnall is a financial supporter of George Bush, which is why he has been named ambassador to the Netherlands.

Sep 18 10:33

Algae As Fuel

Forget turning our corn fields into ethanol. Take a look at the future
as the most prolific plant on earth can yield enough fuel to take care
of our planet's needs AND is safe to the environment.

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Sep 18 10:25

Morgan Stanley in Talks with China's CITIC

Morgan Stanley is in talks to possibly be acquired by China's CITIC, sources in the U.S. and China have told CNBC.

Sep 18 10:21

McPalin town hall was pre-ticketed

McCain town hall style meetings are generally open to the public where anyone may wait in line on the day of the event and come in without an advanced invitation.

However, at tonight’s 3,500 person townhall in Grand Rapids, Michigan–the first time Palin is taking questions from the public– only ticketholders are allowed in.

Sep 18 10:20

Democratic Congress May Adjourn, Leave Crisis to Fed, Treasury

The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way.

Webmaster's Commentary: 

You've just got to love the (absolutely abysmal lack of) intelligent, reasoned congressional "leadership" on this issue!

Why should they bother? They don't really care what's happening to the American people.

We're irrelevant, as long as that ugly collusion of vote fraud and corporate money can insure they get another term in congress.

Sep 18 10:14

Key Witness to WTC 7 Explosions Dead at 53

Barry Jennings, a key 9/11 eyewitness who was an emergency coordinator for the New York Housing Authority, has passed away at age 53 from circumstances not yet disclosed.

Sep 18 10:13

Lehman Brothers Close Ties

Al Gore’s carbon trading business GIM was banked with Lehman Bros. It will be interesting to see how this will play in the future but I suspect that this increases the risk of participating in Carbon trading. Merrill Lynch was also deeply involved in this business.

Webmaster's Commentary: 

So, they were already relying on a gigantic scam to keep their finances afloat!

Sep 18 10:07

Bush, McCain and the Old Iran-Contra Team

The off balance sheet secrets that Wall Street has hidden away under this administration’s free market madness are now imploding and saddling our children with trillions more in national debt. The secrets that the Iran-Contra gang have hidden away for two decades are an equally dangerous brew, especially if they are now influencing the selection of Federal candidates and judges and creating new rogue operations to ensnare our country in more preemptive attacks.

Dark secrets and democracy cannot live side by side. The American people have waited long enough for the truth.

Sep 18 10:06

Saradise Lost - Chapter Sixty-Eight -- Palin's Positives Crash

Whatever her approval ratings might be in Alaska right now, Sarah Palin's national approval ratings are going down. Steadily and surely.

Additionally, I'm still waiting for an in-depth report by a credible national or international reporter who came up to Alaska since August 29th, who praises her record here. Anybody read one yet?

Sep 18 10:06

Is America losing out on Iraqi oil?

On August 23, Iraqi Oil Minister Hussain Al Shahristani flew out of Iraq and headed for China. Five days later, he signed a $3b contract with the state-owned China National Petroleum Corporation (CNPC). The agreement revived an earlier deal signed in 1997 for the development of the Ahdab field, located 160 kilometres southeast of Baghdad.

Webmaster's Commentary: 

Remember when the US Government promised that Iraq's oil would pay for the war and the reconstruction, and that you, the taxpayer would never pay a penny for the mess?

Well ...

Sep 18 10:04

Worst Crisis Since '30s, With No End Yet in Sight

Sep 18 10:04

Capital One Exterminator

Sep 18 10:00

Terrorist's Daughter is new Israeli Prime Minister!

Sep 18 09:59

Up To 500 Bank Closures Could Absorb FDIC Funds

Mark Patterson, chairman of private equity fund MattlinPatterson, told an audience of financial experts at New York’s Waldorf-Astoria this week that the U.S. could suffer up to 500 bank closures and that the chances of a new great depression are now as high as 25 per cent.

Sep 18 09:58

America Is ... Broke

America is spending so much money it doesn't have that even the mainstream press is starting to question the dogma that the U.S. is too big to fail.

Sep 18 09:58

McCain would 'fire' SEC chair Cox

Republican presidential candidate John McCain, campaigning in Iowa Thursday, is expected to call for the firing of Securities and Exchange Commission (SEC) Chairman Chris Cox.

Sep 18 09:55

Lieberman S1959 First Amendment Violations!!

Former Air Force fighter pilot and balls to the wall patriot Guy Razer tells Liebermans office what he thinks of Traitor Joe's preemptive strike against freedom of speech.

Sep 18 09:54


Sep 18 09:52

U.S. to Sell $100 Billion in Bills to Fund Fed Moves

The U.S. Treasury said it will sell an additional $100 billion in short-term debt to aid the Federal Reserve's balance sheet, amid the biggest extension of central- bank credit to financial companies since the Great Depression.

The Treasury today announced plans to sell $30 billion in 59-day bills at 11:30 a.m. tomorrow, $30 billion in 45-day bills at 1 p.m. tomorrow and $40 billion in seven-day bills on at 11:30 a.m. on Sept. 24.

Webmaster's Commentary: 

It will be interesting to see how many of those 59-day bills actually get sold... and to whom.

Sep 18 09:49

Official: U.S. considering new steps against Russia

Webmaster's Commentary: 

"Get that war against Iran Russia going NOW so we don;t have to talk about the economy for the election!" -- Official White Horse Souse

Sep 18 09:47

The Final Destruction of the Middle Class

With regard to debt, the American taxpayer has been made the lender of last resort for international bank Bear Stearns and now the two Government-sponsored Enterprises-GSEs, Fannie Mae and Freddie Mac. On top of the $29B for Bear Stearns, Fannie and Freddie's debt of $5.4T has been effectively transferred to the balance sheet of the USA. This is equal to the entire publicly traded debt of the U.S. which is also the same as the total of America's mortgage-related assets. In addition to personal debt, every American now has a financial responsibility for Bear Stearns and Fannie and Freddie.

Sep 18 09:46

Europe and Asia see U.S. as no longer practicing what it preaches

Is the United States no longer the global beacon of unfettered, free-market capitalism?

In extending a last-minute $85 billion lifeline to AIG, the troubled insurer, Washington has not only turned away from decades of rhetoric about the virtues of the free market and the dangers of government intervention, it has also likely undercut future American efforts to promote such policies abroad.