Freddie, Fannie Scam Hidden in Broad Daylight
September 10th, 2008This represents a crime of such gigantic proportions that many people won’t even be able to fathom what has happened.
—U.S. Seizes Fannie Mae and Freedie Mac
Via: Bloomberg:
When the history is written on the collapse of Fannie Mae and Freddie Mac, it will go down in the annals of corporate scandals as one of the greatest accounting scams committed in broad daylight.
Posted in Economy | Top Of Page
Our leaders are just playing a game of keeping up with the Hu’s.
http://www.thepeoplesvoice.org/cgi-bin/blogs/voices.php/2008/09/05/china_s_all_seeing_eye
With the help of U.S. defense contractors, China is building the prototype for a high-tech police state. It is ready for export.
Thirty years ago, the city of Shenzhen didn’t exist. Back in those days, it was a string of small fishing villages and collectively run rice paddies, a place of rutted dirt roads and traditional temples. That was before the Communist Party chose it — thanks to its location close to Hong Kong’s port — to be China’s first “special economic zone,” one of only four areas where capitalism would be permitted on a trial basis. The theory behind the experiment was that the “real” China would keep its socialist soul intact while profiting from the private-sector jobs and industrial development created in Shenzhen. The result was a city of pure commerce, undiluted by history or rooted culture — the crack cocaine of capitalism.