Three U.S. Banks Close, Bringing Failure Toll This Year to 98
• BloombergBanks in Minnesota, Michigan and Colorado were shut by regulators, bringing this year’s toll of U.S. failures to 98 amid the worst financial crisis in more than seven decades.
Contents Pages by Subject
Federal Reserve
Fed Draws Court's Eyes in Lehman Bankruptcy
• WSJA court-appointed examiner investigating Lehman Brothers Holdings Inc.'s bankruptcy has been exploring whether the Federal Reserve improperly cut in front of other creditors owed money in the $613 billion bankruptcy case, records show.
Bill Gross: US policy makers want a weak dollar, a way to get out from under a debt burden is to dev
• Commodity Trader AlertThe Federal Reserve is likely to keep interest rates low which in turn weakens the dollar—but don’t expect any government officials to officially endorse a low currency.
Here Is Why The Fed Needs To Cut The Dollar In Half Over The Next 14 Years (Gold-SDRS-NWO)
• Zero HedgeJust in case you thought Tim Geithner was telling the truth about desiring a strong dollar, here is an opinion by Jim Rickards on why the US is getting increasingly wrapped up in its stock market bubble, middle class and imports be damned, and why th
Time Magazine's Justin Fox: "Some Financial Market Conspiracies Are Real"
• Washington's BlogNobel prize winning economist Joseph Stiglitz says that Goldman Sachs may have engaged in frontrunning. Ask a Goldman spokesman, and he or she will undoubtedly say that is a conspiracy theory.
Two Insiders to Join New York Fed Board of Directors
• Economic Policy JournalThe Federal Reserve Bank of New York announced today that Jeffrey B. Kindler and James S. Tisch have been elected to the New York Fed’s board as Class B directors, filling the remaining two vacancies on the board. Kindler, chairman and chief executiv
So THAT'S Where The Money Went!
• The Market TickerBilling records filed with the court show the examiner is investigating an issue that has angered many of Lehman's creditors: how the Federal Reserve and the New York Fed -- which lent Lehman $46 billion in cash and securities before its bankruptcy f
Paulson Sought Goldman-Wachovia Merger, Magazine Says
• Bloomberg.Paulson and Federal Reserve ChairmanBen S. Bernanke also told Morgan Stanley Chief Executive Officer John Mackhe should be willing to sell his firm to JPMorgan Chase & Co. for $1 a share, according to excerpts from Sorkin’s new book, “Too Big to Fai
US Senate: STOP BEING STUPID
• The Market TickerBut if someone "else" (like THE TAXPAYER) will eat (almost all, in this case, essentially 95% of) the loss, then your incentives shift - in a big way.
The FDIC is Out of Money – Now What?
• American Banking NewsFirst we have to understand that the banking system, the FDIC and the Treasury Department are essentially insolvent. If Japan and China decide to stop buying Treasury Bonds, the U.S. economy would immediately collapse. Japan is already moving in that
The Fed Rightfully Believes That Protecting Goldman Is "In The Interest Of The U.S. Economy And
• Zero HedgeConsummate Chairman, We would like to direct Your attention to this letter written some months ago by that one person who comes closest to being called Your "supervisor." Indeed, we are well aware that You, Mighty Majesty, are not accountable to a
To Bernanke: It's Time To Stop Lying
• The Market TickerI know it's a difficult thing to stop lying when you're in Washington DC where the easiest way to determine if someone is being untruthful is simply to observe if their lips are moving, but this is going too far:
Goldman Sachs In The News...On Video
• Goldman Sachs 666The Main video titled Glodman Sucks" Sachs - Fascism at its finest! features Matt Taibbi, reporter and contributing editor for Rolling Stone. He has investigated, reported on and exposed much on Goldman Sachs
Goldman Sachs Secret Deals Wilth US via Paulson
• Goldman Sachs 666Conflict of interest or what! More confirmation of how the ruling class manipulates at all costs with not even the slightest bit of ethics.
Morgan Stanley’s Mack Proposes Single Global Bank Regulator
• BloombergSept. 30 (Bloomberg) -- Morgan Stanley Chief Executive Officer John Mack, who struggled to return the bank to profitability amid the financial crisis, said a single regulator should oversee financial institutions worldwide.
American Empire VS Roman Empire : monetary history repeats itself
• You TubeThis is a short montage of a lecture by Joseph Peden of the The Ludwig von Mises Institute
FDIC Fund to Be in Red for Years as Bank Failures Jolt System
• WSJ. . The government said the fund that protects consumer bank deposits has fallen into the red and will remain there into 2012, a pointed symbol of how the aftershocks of the financial crisis will reverberate for years as banks continue to fail at a h
And Here It Comes! (Bank Malfeasance)
• The Market Tickert was just a matter of time....A global regulator would ensure that U.S. banks aren’t subject to tighter regulations a push for regulation during the financial crisis has weakened as the administration of President Barack Obama pursues other tasks, h
Federal Reserve Governor Confirms Fed Gold Swaps
• Economic Policy JournalFive months ago, the Gold Anti-Trust Action Committee (GATA), filed a second Freedom of Information Act (FOIA) request with the Federal Reserve System for documents from 1990 to date having to do with gold swaps, gold swapped, or proposed gold swaps.
U.S. Government Gold Manipulation Document Declassified
• Economic Policy JournalI have since verified the authenticity of the document in a conversation with the Gerald R. Ford Library archivist Mark Fischer. Although the document appears to have a declassification date stamped on it of 6-28-05, Fischer tells me that the documen
FDIC Discloses Deposit Insurance Fund Is Now Negative
• Zero HedgeLet's pray there is no run on the bank soon.In an unprecedented disclosure, the FDIC has highlighted that it expects the DIF reserve ratio to be negative as of September 30. As there are a whopping 48 hours before that deadline, one can safely assume
Congressional Petition To End The Giant Sucking Sound Known As TARP
• Zero HedgeTim Geithner will have some explaining to do to his banker backers why Congress is not too happy with the ongoing Wall Street bailout known as TARP.
Subprime Uncle Sam The FHA makes Countrywide Financial look prudent.
• WSJOne place to start is the Federal Housing Administration, the nation's insurer of nearly $750 billion in outstanding mortgages. The agency acknowledged this month that a new but still undisclosed HUD audit has found that FHA's cash reserve fund is ra
The Banking System Is Insolvent
• The Market TickerFollowing up on the quick mention now that I have a story to cite from Amherst:
Latest Monetary Policy Proposal From the Fed Puts Your Money Market Fund At Risk
• The Golden TruthThe Federal Reserve is discussing the possibility of using "reverse repo" transactions with money market funds that would be aimed at draining liquidity from the financial system. The transaction would involve swapping the toxic assets on the Fed's
A Serious Warning From the Federal Reserve about Interest Rates
• Economic Policy JournalThis gets a bit technical, but the Federal Reserve is flashing that there could be serious, I am talking major league serious, interest rate hikes down the road.
Did the Testimony of Tom Woods Come Too Close to Home for Barney Frank?
• Economic Policy JournalDuring the testimony by Tom Woods on Friday, in favor of H.R. 1207, Congressman Barney Frank stepped up to the plate with some hostile questioning
Exclusive Smoking Gun: The Fed On Gold Manipulation
• Zero HedgeZero Hedge has recently presented several declassified documents from the pre-1971 "Nixon Shock" days, that endorse the case for gold as a major historical factor in US monetary and foreign policy, as demonstrated by State Department and CIA disclosu
FDIC Bankrupt? Uh huh.
• The Market TickerFrom CNBC's "Breaking News" banner: FDIC to Ask Banks to Pre-Pay Premiums to Inject Cash Into Deposit Insurance Fund (story developing) "Ask"? Somehow I suspect it will be something like this:
Federal Reserve plans to extend program to lower mortgage rates
• WCNTRather than by the end of this year as originally scheduled, it’s the second time since august that the Federal Reserve has opted to slow emergency programs designed to encourage spending and boost the economy
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