Archive for April, 2008
Oil Company Profits Up Sharply
April 29th, 2008Mmm hmm. Via: BBC: Oil firms Royal Dutch Shell and BP have made better-than-expected first-quarter profits thanks to the rising price of oil, which is close to $120 a barrel. Shell made profits of $7.8bn (£3.9bn) in the first three months of the year, up from $6.9bn a year ago. And rival BP saw its […]
Fed’s Rescue of Bear Stearns “Worst Policy Mistake in a Generation”
April 29th, 2008I’d love to know what would have unwound if Bear had been left to die… Maybe, a better question is: What wouldn’t have unwound? Via: Wall Street Journal: The Federal Reserve’s rescue of Bear Stearns Cos. will come to be seen as its “worst policy mistake in a generation,” a former top Fed staffer said. […]
McCain Accused of Accepting Improper Donations from Rothschilds
April 29th, 2008Via: Guardian: A US campaign watchdog has accused presumptive Republican president nominee John McCain of violating election laws by accepting campaign contributions from two prominent Londoners. At issue is a fundraising luncheon held in March at London’s Spencer House, during McCain’s swing through the United Kingdom. An invitation to the event lists Lord Rothschild and […]
Revolution MoneyExchange
April 29th, 2008UPDATE: I Have Earned the Maximum Commission from Signups Fifty Cryptogon readers signed up for accounts within about 12 hours of this post going live. I’ve earned the maximum allowable commission of $500! Thank you to each of you who signed up. They are still paying $25 just for signing up. — End Update — […]
‘Retired’ Goldman Sachs Executive to Head Trading for Merrill Lynch
April 28th, 2008What we have here isn’t some, “unseen hand of the market.” It’s more like a bunch of tentacles. Henry Paulson is the United States Treasury Secretary. He’s also a former CEO of Goldman Sachs. Joshua Bolten is the current White House Chief of Staff. He served as Goldman’s executive director for legal and government affairs […]
Dollar Slide Drives Budget as Japan Shuns Treasuries
April 28th, 2008Via: Bloomberg: Add another ailment to the U.S. misery index of soaring gasoline and wheat costs and falling home values: a federal deficit that is burgeoning as foreign investors led by the Japanese recoil from the slumping dollar. The Japanese, who own $586.6 billion, or 12 percent of U.S. government debt, had their worst quarter […]
Wachovia Facing Drug Money Laundering Investigation
April 28th, 2008Assisting upstarts with taking their ill gotten gains out? Oh no no no. That’s a no no. Via: TheStreet: Wachovia is being investigated by federal prosecutors as part of a larger probe of alleged laundering of drug money, according to a published media report. The report, in Saturday’s Wall Street Journal, cited people familiar with […]
State Moves to Ban Fake Testicles on Vehicles
April 28th, 2008Via: Reuters: Senate lawmakers in Florida have voted to ban the fake bull testicles that dangle from the trailer hitches of many trucks and cars throughout the state. Republican Sen. Cary Baker, a gun shop owner from Eustis, Florida, called the adornments offensive and proposed the ban. Motorists would be fined $60 for displaying the […]
UK: Bank Bail-Outs to be Kept Secret
April 28th, 2008Off the rails. Via: ThisIsMoney: The Bank of England has imposed a permanent news blackout on its £50bn-plus plan to ease the credit crunch. Ferocious and unprecedented secrecy means taxpayers will never know the names of the banks that have been supported through the special liquidity scheme, which was unveiled by Bank Governor Mervyn King […]
The Rise of the Sanford and Son Global Economy: Urban Miners Look for Precious Metals in Cell Phones
April 28th, 2008“A tonne of ore from a gold mine produces just 5 grams (0.18 ounce) of gold on average, whereas a tonne of discarded mobile phones can yield 150 grams (5.3 ounce) or more…” This is a remarkable story, on a number of levels. Anyone who thinks business as usual is going to continue needs to […]
