Financial giants face higher debt writedowns, says analyst

Contrary to this article it was known very early on that these investments were risky. The Bankers trust, The very bank John Key worked for at the same time they developed these risky investements knew they were ripping of their customers. John Key worked for this bank from 1987 to 1995. This by the way is […]

What would you do if you could live for 24 hours in one of Henry Kravitz houses

I wonder if John Key has shares in Private equity company KKR, owned by Henry Kravitz, or any other private equity firms for that matter. Private equity firms borrow money to buy businesses, in order to pay back that loan they make sweetheart deals with the banks, break the business in little pieces and sell […]

Crisis may make 1929 look a ‘walk in the park’

Meet some of John Key’s palls. And wonder if you want someone who adheres to the same principles is your first choice as Prime minister of New Zealand. As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues things are rapidly spiralling out of their control […]

9/11 Truth Manifesto

By Joel S. Hirschhorn 12/20/07 “ICH” — — For evidence that America’s political system is a criminal conspiracy, open your mind to piles of new analyses that prove beyond doubt that the official 9/11 story is a lie. Years of a bipartisan cover-up of 9/11 lies make it much more than one horrendous past event. […]

Another Kiwi finance firm collapses

Numeria Finance has collapsed owing investors about $6.4 million. Numeria is a small finance firm with 480 debenture holders and assets valued at about $7 million. It is an associated company of Capital + Merchant Finance, which was put into receivership about two weeks ago. Perpetual Trust, which is the trustee of Numeria’s secured debenture […]

The planned collapse of America

By Peter Chamberlin Online Journal Contributing Writer Dec 7, 2007, 00:38 Email this article  Printer friendly page There is no shortage of speculation about “why” our leaders are still adamantly planning for the destruction of Iran, in the face of overwhelming popular opposition, even though everyone except the neocons and their allies believes that America would not survive our […]

Adding to the List of Worries, Signs That Inflation Is Bubbling Up

By MICHAEL M. GRYNBAUM Published: December 15, 2007 Economists and central bankers have worried for months that soaring food and energy costs could lead to higher inflation, but investors had shrugged off those concerns, preferring to focus on the slowdown in growth.”In the Fed’s mind, inflation never really left the picture,” the chief economist at […]

Report Says That the Rich Are Getting Richer Faster, Much Faster

Something to look forward to if John Key gets elected perhaps? The increase in incomes of the top 1 percent of Americans from 2003 to 2005 exceeded the total income of the poorest 20 percent of Americans, data in a new report by the Congressional Budget Office shows. The poorest fifth of households had total […]

Russia may dump weakening US dollar in its energy deals

It seems that the rejection of the US dollar has become a fashion trend in modern-day business relations. Several major oil and gas exporters have recently announced their plans to use a different currency in their deals with other countries. The heads of Iran, Venezuela and Ecuador expressed such an opinion at the OPEC summit […]

MORTGAGE MELTDOWN

New proposals to ease our great mortgage meltdown keep rolling in. First the Treasury Department urged the creation of a new fund that would buy risky mortgage bonds as a tactic to hide what those bonds were really worth. (Not much.) Then the idea was to use Fannie Mae and Freddie Mac to buy the […]

UBS Pays For Its Subprime Sins With $11.3bn Write-down

Meanwhile, the credit crunch keeps crunching. Another major bank has paid for its sub prime sins with several pounds of equity flesh. “UBS (NYSE:UBS) announced a US$11.3bn write-down and an emergency injection of funds from Singapore and the Middle East that make it as the biggest subprime crisis casualty to date among major European banks.” […]

ARM Teaser Freezer Plan Designed To Help Banks, Not the Market

So it was that Henry Paulson came up with an idea… the ‘teaser freezer‘ plan. The ARM teaser freezer is being sold to the public as a way to protect homeowners. But it has another purpose, says a reporter from the San Francisco Gate, to help save the banks from their own bad judgment. “The […]

Sub-prime crisis is ‘Enron all over again’

The sub-prime mortgage crisis shows the lessons of Enron’s collapse have not been heeded, says Bethany McLean, the Fortune magazine reporter famous for breaking the story that the energy giant was an emperor with no clothes. A lack of transparency, the use of off-balance sheet vehicles and the dodging of responsibility underlie the carnage on […]

Under Bush’s watch, decay of public firefighting has spawned billion dollar private industry

Trade group founded in 2000 now represents 10,000 private firefighters SAN DIEGO – After the Great Fire of London in 1666, insurance companies started issuing plaques to show private fire brigades which homes to save–and which to let burn. Insurers organized their own firefighting companies. Not having a plaque didn’t mean your home went totally […]

US Subprime Bailout Won’t Reverse Trend in House Prices

We can hardly bring our self to talk about America’s socialist subprime bailout. So we won’t spend much time on it! Don’t confuse the Hope Now Alliance of lenders, investors, and banks for a bunch of modern day capitalist altruists. A close examination of the plan offered by George Bush and Hank Paulson shows that […]

Former media mogul Conrad Black jailed

CHICAGO, Illinois (CNN) — A federal judge Monday sentenced former media tycoon Conrad Black to 6.5 years in prison for his role in defrauding shareholders and skimming $60 million from his Hollinger International newspaper conglomerate. Conrad Black’s media empire once stretched across three continents. Black, 63, was convicted in July of mail fraud and obstruction […]

Electromagnetic radiation (EMR): The most pervasive environmental exposures

You cannot see it, taste it or smell it, but it is one of the most pervasive environmental exposures in industrialized countries today. Electromagnetic radiation (EMR) or electromagnetic fields (EMFs) are the terms that broadly describe exposures created by the vast array of wired and wireless technologies that have altered the landscape of our lives […]

Home Sweet Gone

Behind every great bubble and its subsequent bust lies the power of Wall Street’s trading operations. In the case of our national housing market saga and toxic subprime fallout, it’s true that banks and specialist lending institutions rapaciously extended credit to ill-equipped borrowers.But that’s not the whole story. Housing value fluctuations weren’t just caused by […]

McMansions Meet the Mortgage Crisis

Another utopia seems to be biting the dust. The socialist kibbutzim of Israel have vanished or gone increasingly capitalist, and now the paranoid residential ideal represented by gated communities may be in serious trouble. Never exactly cool–remember Jim Carrey in The Truman Show“?–these pricey enclaves of privilege are becoming hotbeds of disillusionment.At the annual meeting […]

Old McDonald Had a Farm…and He Got Arrested?

  PRINT ARTICLE EMAIL ARTICLE Web Letters (8) TAKE ACTION SUBSCRIBE NOW  SHARE ARTICLE Buzzflash del.icio.us Digg Facebook Newsvine Reddit <!– Spotlight –> What is this? GA_googleFillSlot(“Article_ATF_300x250″); Just in time for the holidays, four beef carcasses hang from the improvised slaughterhouse at Greg Niewendorp’s 160-acre farm outside East Jordan, in the north of Michigan’s lower peninsula. It […]

The planned collapse of America

There is no shortage of speculation about “why” our leaders are still adamantly planning for the destruction of Iran, in the face of overwhelming popular opposition, even though everyone except the neocons and their allies believes that America would not survive our own actions. An irrational attack is planned and apparently the decision has been […]