will US financial woes lead to new world order?
convicted inside trader & elite finance oligarch george soros says: i'm having a very good crisisfrom daily mail: A hedge fund manager who predicted the global credit crunch has said the financial crisis has been 'stimulating' and the culmination of his life's work. George Soros, who predicted the global financial crisis twice before, was one of the few people to anticipate and prepare for the current economic collapse. Mr Soros said his prediction meant he was better able to brace his Quantum investment fund against the global storm. But other investors failed to take notice of his prediction and his decision to come out of retirement in 2007 to manage the fund made him $US2.9 billion. And while the financial crisis continued to deepen across the globe, the 78-year-old still managed to make $1.1 billion last year. "It is, in a way, the culminating point of my life’s work," he told national newspaper The Australian.
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geithner pressed on goldman sachs connections
from raw replay: Rep. Maxine Waters asked Secretary Geithner about his connections to Goldman Sachs at a House banking hearing today. Goldman Sachs is known to have received bailout money given to A.I.G. Goldman may have participated in the government decision to provide the original bailout money to A.I.G.
ron paul predicts 15yr depression
stiglitz: geithner plan will rob US taxpayers
from reuters: The U.S. government plan to rid banks of toxic assets will rob American taxpayers by exposing them to too much risk and is unlikely to work as long as the economy remains weak, Nobel Prize-winning economist Joseph Stiglitz said on Tuesday. "The Geithner plan is very badly flawed," Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in Hong Kong. U.S. Treasury Secretary Timothy Geithner's plan to wipe up to US$1 trillion in bad debt off banks' balance sheets, unveiled on Monday, offered "perverse incentives", Stiglitz said. The U.S. government is basically using the taxpayer to guarantee against downside risk on the value of these assets, while giving the upside, or potential profits, to private investors, he said. "Quite frankly, this amounts to robbery of the American people. I don't think it's going to work because I think there'll be a lot of anger about putting the losses so much on the shoulder of the American taxpayer."
flashback: stiglitz: crisis as bad or worse as great depression
derivities 'godfather' says blow 'em all up'
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