Category Credit crisis

Danny Schechter “The News Dissector” has a new book, Plunder, that will be released soon. Am definitely looking forward to reading it.

These are scary times we’re in. The takeover of Fannie and Freddie over the weekend only caused a one day pop in the stock market. Today, all those gains and more were reversed. Lehman Brothers was down a whopping 44%…

Central banks are taking on so much dodgy debt that they will put themselves at risk if they continue extending support to their banking systems. The solution is to do what capitalists profess to believe but what we’re not seeing…

Robert Reich It’s another case of socialized capitalism, folks. The largest, yet. Along with making lots of money for investors and their executives, Fannie and Freddie corrupted our political process. They blocked any attempt to reign in the risks. Their…

Hurricane Ivan and the Fannie/Freddie takeover are both unpredictable and capable of extreme damage. The takeover seems a desperation move will almost certainly trigger massive blowback (unpredicted consequences of actions.) No one knows if the financial levees will hold.