Archive for September, 2008
FDIC May Need $150 Billion Bailout as Local Bank Failures Mount
September 25th, 2008Via: Bloomberg: By the end of 2009, about 100 U.S. banks with collective assets of more than $800 billion will fail, predicts Christopher Whalen, managing director of Institutional Risk Analytics, a Torrance, California-based firm that sells its analysis of FDIC data to investors. “It’s not going to be Armageddon,” says Mark Vaughan, an economist and […]
Feds Give Customs Agents Free Hand to Seize Travelers’ Documents
September 25th, 2008Via: San Francisco Chronicle: The Bush administration has overturned a 22-year-old policy and now allows customs agents to seize, read and copy documents from travelers at airports and borders without suspicion of wrongdoing, civil rights lawyers in San Francisco said Tuesday in releasing records obtained in a lawsuit. The records also indicate that the government […]
China Banks Told to Halt Lending to U.S. Banks
September 25th, 2008Update: China Denies Report It’s Banned Lending to U.S. Banks Some weird financial ripples from China in the last couple of days… Via: Reuters: Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday. The […]
Cryptogon Readers Sign Up for Hosting with BlueHost
September 25th, 2008Thanks to the owners of the following sites for signing up for hosting with BlueHost: hewimetall.com censitivity.com mixedmediacollective.com
Cryptogon Readers Send Contributions
September 25th, 2008Thank you. AM $25 MW $20 Eileen $40 Eileen $40 Farmlet NH $25 TB $20
Country’s Top Chevrolet Dealer Closes
September 25th, 2008Via: Auto Channel: According to Automotive News’ Chrissie Thompson, Bill Heard Enterprises, the country’s top Chevrolet dealer group, is closing the doors at all of its 13 dealerships at the end of business today, according to a person with knowledge of the situation. The company notified the stores’ general managers at 2 p.m. today, the […]
Rumors Touch Off Bank Run in Hong Kong
September 24th, 2008Via: Telegraph: Panicked customers queued to withdraw their savings from branches of the Bank of East Asia in Hong Kong as rumours circulated that the bank was facing financial problems, agencies report. The rumours were categorically denied by the bank’s management, which nevertheless had to extend business hours by 30 minutes to cope with the […]
Bernanke: Not Only Should Taxpayers Buy the Toxic Waste, They Should Pay Premium Prices for It
September 24th, 2008In a sane world, these monsters would be torn limb from limb and shredded into maggot food—a role in which they could actually do some good. Drill holes around the base of a bucket. Place some banker parts in the bucket with a bit of straw and hang it a couple of feet above your […]
FBI Investigating Companies at Heart of Meltdown
September 24th, 2008Things started to get interesting when They sent a memo to all employees on what to say to anyone who presented themselves as auditors or investigators. We were to refer them to some flunkie. I thought, “Oh goodie, we’re going to get raided by a three-letter agency and guys wearing guns and blue wind-breakers are […]
New Homeland Security Magic 8 Ball Removes Terrorists Fast! Now with 100% More WTF?
September 24th, 2008“Sorry, officer, I’ve been reading Cryptogon for so many years I thought the twitching would have stopped by now.” Via: Fox News: Baggage searches are SOOOOOO early-21st century. Homeland Security is now testing the next generation of security screening — a body scanner that can read your mind. Most preventive screening looks for explosives or […]
