Posted by seumasach on October 29, 2008
Alan Nasser
Global Research
28th October, 2008
In a nationally televised speech on September 24, George W. Bush said in support of the proposed bailout plan that it was meant to “help American consumers and businessmen get credit to meet their daily needs and to create jobs.”
The Bailout Lie Exposed
Bush’s story was subsequently peddled by the Ministry of Information: the more than 700 billion handed over by the Treasury and the Fed to the financial oligarchy will be used to enable banks to resume lending to strapped households and businesses, thereby enabling the economy to regain healthy rates of growth and households and businesses to elude the prospect of extended debt peonage.
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Posted in Financial crisis | Tagged: bailout | Leave a Comment »
Posted by seumasach on October 29, 2008
Whatever the underlying reality concerning German banks, the contrast with Britain couldn’t be starker. Whereas the British banks have all been openly or covertly at the trough, the German bankers seemingly feel no urgent need for assistance and may have to be force fed. Considering that the total exposure of their state health and pension schemes to Lehman’s is a paltry 120 million, couldn’t it be the case that Germany’s exposure to US toxic garbage is, in fact, less than we have been led to believe, and that this bailout scheme has been foisted on them in an attempt to bankrupt the German state British-style.
Deccan Herald
26th October, 2008
A second German bank lined up on Saturday for a government rescue, as officials reportedly debated whether to force recapitalisation on shy commercial banks.
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Posted in Financial crisis | Tagged: bailout, financial collapse, German banks | Leave a Comment »
Posted by seumasach on October 29, 2008
Robert Peston
BBC Blogs
29th October, 2008
If ever there were a country and a people that signalled their distaste for hedge funds, private equity and the self-defined alternative investment industry, that country and people were Germany and the Germans.
It was this famous quote of April 2005 to the German popular newspaper, Bild, by the then Deputy Chancellor of Germany, Franz Munterfering, that didn’t exactly represent a “come-in-and-make-yourself-comfortable” message to the rocket scientists of financial services:
“Some financial investors spare no thought for the people whose jobs they destroy. They remain anonymous, have no face, fall like a plague of locusts over our companies, devour everything, then fly on to the next one.”
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Posted in Uncategorized | Tagged: financial collapse, hedge funds | Leave a Comment »
Posted by seumasach on October 29, 2008
Winninpeg Free Press
27th October, 2008
HELSINKI, Finland – Iceland’s business affairs minister says his country should reconsider applying for membership in the European Union and joining the common EU currency to help in future financial crises.
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Posted in Uncategorized | Tagged: bankrupt iceland, euro, financial collapse | Leave a Comment »
Posted by seumasach on October 29, 2008
MOSCOW, October 29 (RIA Novosti) – The prime ministers of Russia, China, and four Central Asian countries will meet on October 29-30 in Kazakhstan’s capital to discuss measures to overcome the ongoing financial crisis, the Kremlin press service said on Wednesday.
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Posted in Uncategorized | Tagged: financial collapse, SCO | Leave a Comment »
Posted by smeddum on October 29, 2008
Russia
PM Putin suggests Russia, China ditch dollar in trade deals
15:23 | 28/ 10/ 2008 Novosti
MOSCOW, October 28 (RIA Novosti) – Russian Prime Minister Vladimir Putin proposed on Tuesday that Russia and China gradually switch over to national currency payments in bilateral trade, expected to total $50 billion in 2008. Read the rest of this entry »
Posted in Uncategorized | Tagged: dollar collapse, Russia China co-operation | Leave a Comment »
Posted by seumasach on October 28, 2008
Helen Power
Times
28th October, 2008
The pound plummeted close to a six-year low yesterday. The currency’s losses in recent months now mirror its demise after Black Monday in 1992, when John Major pulled Britain out of the exchange-rate mechanism and destroyed the Conservatives’ reputation for economic management.
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Posted in Uncategorized | Tagged: join the euro! | Leave a Comment »
Posted by seumasach on October 28, 2008
Since it is generally recognised that the US/UK control the IMF, this is tantamount to asking for a free give from China. I would be very surprised and dismayed if they fell for this one.
ABC News
29th October, 2008
British Prime Minister Gordon Brown has called on China and cashed-up Gulf oil producing states to give more money to the International Monetary Fund to help fight the global credit crisis.
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Posted in Uncategorized | Tagged: financial collapse | Leave a Comment »
Posted by alfied on October 28, 2008
Oligarch at heart of Tory funding row gains Kremlin support in repaying banks that backed Norilsk stake
By Mark Leftly (Independent)
Sunday, 26 October 2008
Russian Prime Minister Vladimir Putin will bail out Oleg Deripaska, the oligarch at the centre of the “yachtgate” affair, with a $2.5bn (£1.6bn) loan refinancing this week. Read the rest of this entry »
Posted in Uncategorized | Tagged: Mandelson and Putin | Leave a Comment »
Posted by smeddum on October 28, 2008
Arab League slams U.S. raid inside Syria
China view
2008-10-28 CAIRO, Oct. 27 (Xinhua) — The Cairo-based Arab League (AL) on Monday denounced a U.S. air strike on Sunday inside the Syrian territories that killed eight Syrian civilians. Read the rest of this entry »
Posted in Uncategorized | Tagged: Arab leaque, Syria | Leave a Comment »
Posted by smeddum on October 27, 2008
Denmark, Iceland look again at euro as crisis takes its toll
27 October 2008, 23:50 CET EUbusiness.com
(STOCKHOLM) – Denmark and Iceland, two of the four Nordic countries still outside the eurozone, have begun seriously debating swapping their currencies for the euro as they take a beating in the global financial crisis.
“The issue of Europe and the euro is directly linked to the crisis,” the head of Iceland’s Institute of Economic Studies, Gunnar Haraldsson, told AFP.
Norway and Sweden have been less affected by the financial turmoil and debate there has been muted, while Finland is the only Nordic country to be a member of the eurozone. Read the rest of this entry »
Posted in Uncategorized | Tagged: bankrupt iceland, Denmark, European Union, Iceland, Iceland is broke | Leave a Comment »
