The Man Who Crashed the World

Very interesting article abvout who might have single-handedly crashed the financial system. Almost a year after A.I.G.’s collapse, despite a tidal wave of outrage, there still has been no clear explanation of what toppled the insurance giant. The author decides to ask the people involved—the silent, shell-shocked traders of the A.I.G. Financial Products unit—and finds […]

Unemployed and on the Verge of Losing Everything: “I Don’t Know How I’ll Make It”

As our mainstream media are finally beginning to get it that the worlds economy has a little problem the Americans are in full fledged aware panic, as they begin to understand that they have beenm lied to about just about everything including the actual unemployment numbers every month more than 600.000 people loose their jobs […]

Foreclosures Soar in March, Up 44 Percent Over February’s High

Lenders End Moratoria, Opening Flood of Foreclosures; Re-Defaults and Job Losses Also Take Their Toll SACRAMENTO, Calif.–(BUSINESS WIRE)–Completed foreclosures hit another monthly record in March as 175,199 homes were lost to foreclosure, up 44 percent from February’s record high, according to the latest U.S. Foreclosure Index released today by, a leading real estate information […]

Farmers Mutual Finance to stop lending

This is bad. According to their website the are closed to both lending and investment and while the government guarantees will be extended to the existing investments and debenture holders will continue to receive payments the investment banking sector of the is closed and Farmers Mutual Group said ownership of a finance company was no […]

Britain shivers through its coldest winter for 13 years… and another big freeze is on the way

It’s what we suspected as the deep freeze set in and the country was hit by heavy snow. Now forecasters have confirmed that Britain shivered through the coldest winter for more than a decade. The last three months have been the chilliest for 13 years, with an average temperature of only 37f (2.9c). A man […]

The “Geithner Put”: It’s time to break up the big banks

“We will preserve the banking system that is owned and managed by the private sector” Treasury Secretary Timothy Geithner. Timothy Geithner is putting the finishing touches on a plan that will dump $1 trillion of toxic assets onto the US taxpayer.  The plan, which goes by the opaque moniker the “Public-Private Investment Fund” (PPIF), is […]

Analysts: New Era Of Chaos Has Taken Hold

Banking collapse has already happened; Crisis is worst ever; Financial system has effectively disintegrated; Mass social insurrection likely Steve Watson Monday, Feb 23rd, 2009 A wave of economists, investors and other financial experts issued a series of dire warnings concerning the global financial crisis over the weekend, stating that a new era of chaos […]

Most people don’t realise that the money making process is completely out of our, the general populous, hands. A small group of private citizens has been given control to print money out of thin air and we the general public get to borrow it and pay interest on it and we slog our hearts out […]

Dwindling donations put squeeze on foodbanks

Hungry families are facing empty shelves in some foodbanks as social agencies are squeezed between rising need and dwindling donations. Foodbanks throughout the country are reporting a big jump in families seeking food parcels even before New Zealand faces many of the mass layoffs caused by the recession overseas. But some supermarkets are tightening up […]

Ed Balls: minister fears rise of fascism amid economic gloom

Previous 1 of 2 Images Next Ed Balls fears rise of fascism amid economic gloom Photo: Julian Simmonds Adolf Hitler takes the salute as thousands of policemen goose-step past his rostrum. Photo: GETTY Ed Balls, the Children’s and Schools Secretary, said the downturn was likely to be the most serious for 100 years, and his comments […]