The financial system established in England after 1688, based on usurious lending to the state by private bankers, is reaching its final blowout in the form of a series of devastating bubbles and a massive bailout of the financiers with public money. But the issuance of money doesn’t have to be in the hands of a private consortium: another credit system is possible.
Posted by seumasach on September 26, 2008
John Hoefle
Lyndon LaRouche has issued a clear warning to the pack of fools pushing the largest bank bailout in history: Don’t do it, and if you do, don’t expect to get away with it. There will be consequences for such treasonous stupidity, far beyond what you can imagine.
Posted in Financial crisis | Tagged: stop the bailout | Leave a Comment »
Posted by smeddum on September 26, 2008
Financial Crisis Likely to Further Erode U.S. Influence
Analysis by Jim Lobe*
WASHINGTON, Sep 25 (IPS) – While the White House and U.S. lawmakers hash out final terms of a proposed 700-billion-dollar Wall Street bailout, foreign policy analysts are warning that the current financial crisis could very well hasten the decline of U.S. power and influence overseas. Read the rest of this entry »
Posted in Drive to Global War, Financial crisis, Multipolar world | Tagged: Decline of empire, loss of US influence, US hegemony | 1 Comment »
Posted by smeddum on September 26, 2008
Wachovia Slumps After WaMu’s Seizure, Bailout Impasse
By Linda Shen and David Mildenberg
Sept. 26 (Bloomberg)
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The pressure on Capitol Hill has all the making of a high drama; it looks to me that it will not be the bailout at issue but the type of bailout and how it should be sold to the public. In other words how to pull off the scam
— Wachovia Corp. and National City Corp. slumped after negotiations on the government’s financial bailout stalled and Washington Mutual Inc. was seized by regulators and sold to JPMorgan Chase & Co. Read the rest of this entry »
Posted in Financial crisis | Tagged: economic crash, failing banks, no bailout | Leave a Comment »
Posted by smeddum on September 26, 2008
Funds reveal short bets on Irish banks
DAVID LABANYI Irish Times
SEVEN INTERNATIONAL hedge funds that have bet hundreds of millions of euro on a fall in the share price of Irish bank stocks have revealed their positions. Read the rest of this entry »
Posted in Financial crisis | Tagged: failing banks, Ireland, short-selling | Leave a Comment »
Posted by smeddum on September 26, 2008
2 rallies today to protest Wall Street bailout democratandchronicle
Groups of activists are organizing a pair of local protests in downtown Rochester and Palmyra to decry the proposed $700 billion federal bailout of troubled Wall Street financial firms. Read the rest of this entry »
Posted in Financial crisis | Tagged: bailout protest, financial collapse, no bailout, Paulson plan | Leave a Comment »
Posted by smeddum on September 26, 2008
“Wall Street Should Be Looking for Bail, Not a Bailout”
LIUNA Opposes Any No-Strings Raid on Taxpayers; Calls for Congress to Seize the Opportunity to Build America So America Works Again Wall Street Journal Marketwatch
Last update: 3:42 p.m. EDT Sept. 25, 2008
WASHINGTON, Sep 25, 2008 (BUSINESS WIRE) — As the Bush Administration and Congress craft a $700 billion Wall Street bailout, LIUNA — the Laborers’ International Union of North America — is rejecting any no-strings raid on taxpayers and calling on Congress to seize the opportunity to build America. Read the rest of this entry »
Posted in Financial crisis, Uncategorized | Tagged: bailout protest, LIUNA, no bailout, Paulson | Leave a Comment »
Posted by smeddum on September 26, 2008
Bailout Outrage Races Across the Web
The Internet is flooded with angst about Treasury Secretary Paulson’s proposed $700 billion bailout—and inspiring old-fashioned street protests
by Moira Herbst Business week
Arun Gupta was enraged as he learned the details of Treasury Secretary Henry Paulson’s plan to fix the U.S. banking system with $700 billion in taxpayer funds. The 43-year-old copy editor and freelance journalist, who publishes his own alternative newspaper, The Indypendent, needed to channel his angst but couldn’t find a live protest to attend. So on Sept. 22, he sent an e-mail to some politically active friends in New York. Within days, they’d planned a protest against the bailout in New York and at 80 other locations in the U.S. on Sept. 25. Read the rest of this entry »
Posted in Financial crisis | Tagged: bailout protest, financial collapse, no bailout, Paulson | Leave a Comment »
Posted by smeddum on September 26, 2008
House Republicans Undercut Bush on Rescue, Slow Talks
By Alison Vekshin and James Rowley
Sept. 26 (Bloomberg) — Negotiations on the $700 billion rescue of the U.S. financial system stalled as House Republicans undercut the Bush administration and left it to congressional leaders to hammer out a compromise to calm markets. Read the rest of this entry »
Posted in Financial crisis | Tagged: bailout protest, financial collapse, house republicans, no bailout, Paulson plan | Leave a Comment »
Posted by alfied on September 26, 2008
Protests have started in Dublin too. No movement in Britain yet.
Posted in Financial crisis | Tagged: no bailout | Leave a Comment »
Posted by smeddum on September 26, 2008
Tell McCain – Oppose Derivatives Rense
Bailout Or Drop Out
Of White House Bid
By Webster G. Tarpley
9-25-8
WASHNGTON, DC — Supporters of John McCain should tell their man right away and in no uncertain terms that he needs to take the lead in opposing the insane and futile derivatives bailout demanded by the Wall Street financial parasites through their spokesmen Hanky-Panky Paulson and Helicopter Ben Bernanke. Obama, a wholly owned subsidiary of the Rockefellers, Soros, and Goldman Sachs, is a sure vote in favor of whatever monstrosity Paulson is able to extort. If McCain were to join Barky in voting to flay the American people alive for the sake of Wall Street’s derivatives casino, he might as well give up the race for the White House and go home. If McCain were to accept Obama’s weasel demand for a joint statement in support of the bailout, the Arizona senator might as well drop out. Two thirds of the American people are not supporting the $700 billion bailout. A growing anti-elitist and anti-oligarchical rage is abroad in the land. If Obama and McCain are in a united front to support Wall Street blackmail, voters will conclude that Obama is a plausible candidate, and he will emerge victorious. Read the rest of this entry »
Posted in Financial crisis | Tagged: bailout, bailout protest, financial collapse, McCain, Paulson plan, Webster Tarpley | Leave a Comment »
Posted by smeddum on September 25, 2008
Hundreds of Economists Urge Congress Not to Rush on Rescue Plan
By Matthew Benjamin
Sept. 25 (Bloomberg) — More than 150 prominent U.S. economists, including three Nobel Prize winners, urged Congress to hold off on passing a $700 billion financial market rescue plan until it can be studied more closely. Read the rest of this entry »
Posted in Financial crisis | Tagged: bailout protest, no bailout, Paulson | Leave a Comment »
In These New Times 