Are our banks safe?

queueing at Northern Rock branches in a desperate bid to recover their savings sent shockwaves around a financial world already reeling from the sub-prime and credit crisis.The safety of money New Zealanders have in their bank accounts, and to lesser extent the wealth they have accumulated in their homes, are a couple of things they […]

The Worst Conditions for the U.S. Economy Since the Great Depression

Mortimer Zuckerman, co-founder of Boston Properties Inc., the largest U.S. office real estate investment trust, said the U.S. economy is in a recession and there’s no sign of a recovery. “We are looking at the worst set of macroeconomic conditions since the Great Depression,” Zuckerman said in an interview with Bloomberg Television. Yesterday, the dollar […]

Dollar Gives Up More Ground As Market Digests Bear News

cnnad_createAd(“654903″,””,”200″,”220″); The dollar gave up more ground Friday, undermined by cool inflation data and weakness on Wall Street as the market digests news of Bear Stearns Cos.’ bailout. Data showed U.S. consumer inflation moderated in February, opening the door for the Federal Reserve to keep cutting interest rates at its meeting next week to support […]

Opening by Les Bursill

The father of the organisor of the 911 truth opens the conference by telling us about his Dharawhal aboriginal history. He tells us about how they are trying to regain their history and language and the return of the dreamtime. Then he continues with a welcome in his native language that they have painstakingly reconstructed […]

911 truth tour Sidney

Awesome I’m t the press table typing away. I can blog live during the presentations. This evening we started of with a fry speech from Lt Col. Bowman, He is a war veteran fighter pilot and a bishop.  He is also an ardent 911 truth seeker, and travels around the world to tell the world […]

Dollar Declines on Speculation Fed Rescue Package Won’t Succeed

March 12 (Bloomberg) — The dollar fell against the euro and the yen on speculation the Federal Reserve’s plan to provide funds to banks won’t be enough to break the gridlock in money- market lending and stem credit losses. “Read the need for such new measures as being a symptom of what ails the world […]

ING suspends NZ funds’ payouts because of turmoil

The New Zealand arm of Dutch financial group ING said on Wednesday it was suspending withdrawals from two investment funds worth $521 million because of the global credit market turmoil. It said the funds – the diversified yield and regular income – invested largely in credit securities, which had been hard hit by the subprime […]

Central banks make $250bn move to ease the credit crisis

Central banks make $250bn move to ease the credit crisisJoint action by US, UK, Europe and Canada; Dow Jones surges on news By Stephen Foley in New York Wednesday, 12 March 2008 Central banks around the world made a second co-ordinated attempt to ease the credit crisis, three months after their first efforts failed to […]

Australia accused of helping with notorious CIA rendition flights

Is Australia unwittingly helping the US Central Intelligence Agency with the notorious secret flights known as renditions?Australian politicians and defense officials are refusing to address claims that Royal Australian Air Force (RAAF) servicemembers are unwittingly involved in CIA flights that transport terror suspects from Afghanistan to face possible torture, Australia’s Seven News reports. Read more

Many more going bankrupt

Bankruptcy filings have surged 22 percent in Massachusetts this year, as more people are unable to afford their rising mortgage payments or refinance their homes to pay bills, according to court filings and bankruptcy attorneys. Massachusetts filings in US Bankruptcy Court increased to 2,493 between Jan. 1 and March 5, from 2,039 during the same […]

Derivatives the new ‘ticking bomb’

ARROYO GRANDE, Calif. (MarketWatch) — “Charlie and I believe Berkshire should be a fortress of financial strength” wrote Warren Buffett. That was five years before the subprime-credit meltdown. “We try to be alert to any sort of mega-catastrophe risk, and that posture may make us unduly appreciative about the burgeoning quantities of long-term derivatives contracts […]

Inflation in China hits 11-year high

HONG KONG: Inflation surged further in China last month, with consumer prices up 8.7 percent from a year earlier, the fastest pace in more than 11 years, China’s National Bureau of Statistics announced Tuesday morning. Food prices were the biggest contributor, up 23.3 percent from a year earlier. Blizzards in China damaged harvests and interfered […]

Countrywide Falls to 13-Yr Low on FBI Probe Reports

NEW YORK (Reuters) – Countrywide Financial Corp (CFC.N: Quote, Profile, Research) shares dropped 14 percent to a 13-year low on Monday following reports the largest U.S. mortgage lender was being investigated by the FBI for possible securities fraud. The decline in the stock came even as Bank of America Corp (BAC.N: Quote, Profile, Research), the […]