Archive for the 'Elite' Category
13 Firms Receiving Federal Bailout Owe Back Taxes
March 19th, 2009It should get interesting around April 15th in the U.S… Via: AP: At least 13 firms receiving billions of dollars in bailout money owe a total of more than $220 million in unpaid federal taxes, a key lawmaker said Thursday. Rep. John Lewis, D-Ga., chairman of a House subcommittee overseeing the federal bailout, said two […]
U.N. Panel Says World Should Ditch Dollar
March 19th, 2009Mmm hmm. Via: Reuters: A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar. Currency specialist Avinash Persaud, a member of the panel of experts, told […]
Fed to Pump Another $1 Trillion Into U.S. Economy
March 19th, 2009Via: IHT: The Federal Reserve sharply stepped up its efforts to bolster the economy on Wednesday, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities. Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to […]
FED TO BUY U.S. TREASURIES
March 19th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Well, guys, there it is. The main mechanism of U.S. debt financing has broken down. This is, by far, the most serious economic development to occur in my lifetime (I’m 37). What will happen, and when, as a result of this, […]
Goldman Sachs Offers Loans to “Stretched” Employees
March 18th, 2009I couldn’t make it up if I tried. Via: New York Times: Goldman Sachs got its bailout. Now some of its bankers, those aristocrats of Wall Street, apparently need a bit of a bailout too. Goldman, which accepted billions of taxpayer dollars last fall and, as learned Sunday, was also a big beneficiary of the […]
AIG: It’s Not the Bonuses. It’s That AIG’s Counterparties Are Getting Paid Back in Full
March 18th, 2009I’d bet that the choreographers of this scam assume that the average person doesn’t know the difference between million and billion. That’s the first bet. The second bet I’d make is that this entire spectacle has been concocted to shift the focus away from where the really big money is going. (Hint: Goldman Sachs.) So, […]
Obama Orders Treasury Chief to Try to Block A.I.G. Bonuses
March 17th, 2009Such concern for the taxpayers… I’d bet that the choreographers of this scam assume that the average person doesn’t know the difference between million and billion. That’s the first bet. The second bet I’d make is that this entire spectacle has been concocted to shift the focus away from where the really big money is […]
AIG Paid Out the Most Bailout Money to Goldman Sachs
March 16th, 2009Imagine my shock. Via: Bloomberg: American International Group Inc., under pressure to reveal how it spent taxpayer funds since its September bailout, said $105 billion flowed to U.S. states and banks including Goldman Sachs Group Inc., Societe Generale SA and Deutsche Bank AG. … Goldman Sachs led beneficiaries, with $12.9 billion, followed by SocGen, France’s […]
Gardening Industry Sees Boom as Families Grow Their Own Veggies to Save on Groceries
March 16th, 2009Path to Freedom is soooo good. Here’s the Journal, in case you get lost in all of the quality information on the main site. The Dervaes family was my inspiration to learn how to garden. They have taken urban homesteading to unthinkable levels; certainly beyond what might have been thought of as “maximum” even a […]
A.I.G. Planning Huge Bonuses After $170 Billion Bailout
March 15th, 2009Via: New York Times: The American International Group, which has received more than $170 billion in taxpayer bailout money from the Treasury and Federal Reserve, plans to pay about $165 million in bonuses by Sunday to executives in the same business unit that brought the company to the brink of collapse last year.
