In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘economy’

The Very Real Danger of Wall Street Blackmailing Us Back Into a Bad Bill

Posted by smeddum on September 30, 2008

The Danger of Wall Street Blackmailing Us Back Into a Bad Bill
By Ian Welsh Khabrein

The Western media are upping up the volume and markets are rallying (and disregarding market fundamentals) to blackmail congress into voting for the bailout. A battle has been won but the war is not over. There is a danger that we have been lulled into a false sense of security. Protests should continue

What was causing the panicked “must pass bill now” gasps from Senators and the Treasury was not the various bank failures. They have been pretty orderly and no one who failed wasn’t expected to fail. Instead the problem was that banks aren’t lending to each other. This isn’t because they fear that other banks won’t repay if they fail, in every case when a bank has failed, the Fed has made sure that banks with outstanding interbank loans got their money back. So this isn’t a question of systemic risk causing fear. Read the rest of this entry »

Posted in Uncategorized | Tagged: , , , , , , , , | 1 Comment »

Breakdown of bailout vote

Posted by smeddum on September 29, 2008

Roll Call Vote for H.R. 3997, the ‘Bailout’ Bill

Democrats: 140 Ayes, 95 Noes

Republicans: 65 Ayes, 133 Noes, 1 Not Voting

Total: 205 Ayes, 228 Noes, 1 Not Voting

Click here for a detailed roll call, including breakdown by representative.

Posted in Uncategorized | Tagged: , , , , , , | 1 Comment »

Canada’s Harper Joins G-7 Chorus, Pins Crisis on U.S.

Posted by smeddum on September 28, 2008

Canada’s Harper Joins G-7 Chorus, Pins Crisis on U.S.
By Theophilos Argitis

Sept. 28 (Bloomberg) — Canadian Prime Minister Stephen Harper said U.S. policies helped create the crisis in financial markets, adding to criticism from other Group of Seven leaders and saying there’s little his government can do to help. Read the rest of this entry »

Posted in Financial crisis, Multipolar world | Tagged: , , , , , | Leave a Comment »

Video: Cash for trash and the multi-polar world, Pepe Escobar

Posted by smeddum on September 28, 2008

Posted in Drive to Global War, Financial crisis, Multipolar world | Tagged: , , , , | Leave a Comment »

Video: Jail not Bailout for billionaire bankers

Posted by smeddum on September 28, 2008

Posted in Financial crisis | Tagged: , , , , , , , | Leave a Comment »

Paulson’s whopper

Posted by smeddum on September 24, 2008

Good ideas and lies New York Times
Daniel Davies, in one of the great blog posts of this era, laid down a key principle:

Good ideas do not need lots of lies told about them in order to gain public acceptance.

He was talking about the selling of the Iraq war, but it applies more generally.

So, this morning Hank Paulson told a whopper: Read the rest of this entry »

Posted in Financial crisis | Tagged: , , , , , | Leave a Comment »

 
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