Tag: money
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my bank is about to fail. how about yours?
washington mutual tumbles 30%from reuters: Washington Mutual Inc (WM.N) shares sank 30 percent to a 17-year low and the perceived risk of its debt soared on worries the largest U.S. savings and loan will not find a buyer or raise enough capital to combat soaring mortgage losses. The stock closed down 98 cents at $2.32…
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lehman files for bankruptcy & other disasters
from bbc: Wall Street bank Lehman Brothers has filed for chapter 11 bankruptcy protection after emergency talks to find a buyer failed. Confidence in the 150-year-old investment bank – the fourth largest in the US – crumbled last week amid growing concerns that its large portfolio of mortgage-backed assets was worth far less than it…
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economoney: integrity 10th bank failure & incomes plunge
integrity bank becomes 10th US failure this yearfrom bloomberg: Integrity Bank of Alpharetta, Georgia, was closed by U.S. regulators today, the 10th bank to collapse this year amid a surge in soured real-estate loans stemming from the worst housing slump since the Great Depression. Integrity Bank, with $1.1 billion in assets and $974 million in…
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organized crime dumping weak US dollar for euro
from afp: The weakened US dollar has fallen out of favor with organized crime groups to pay for drug shipments or to settle scores, a Canadian government report said Friday. And if the greenback continues its slide in 2008, as expected, more and more criminals are likely to exchange euros for illicit goods, said Criminal…
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9/11 memorial to cost $1b
from nymag: Today, the Daily News brings us our first glimpse of what the new, reassessed costs of the World Trade Center rebuilding might be. The September 11 memorial and museum, originally priced at $610 million, is now estimated at over $1 billion — a 65 percent increase. It also won’t be ready until 2013…
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nancy pelosi talks about the ‘novus ordo seclorum’
from we are change florida: This was on Pelosi’s book tour stop in Coral Gables, Florida on August 6th, 2008. Pelosi speaks about the New World Order and explains how it’s written on the one dollar bill.
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nyu prof nouriel roubini says hundreds of banks will fail
from reuters: The United States is in the second inning of a recession that will last for at least 18 months and help kill off hundreds of banks, influential economist and New York University Professor Nouriel Roubini told Barron’s in Sunday’s edition. Taxpayers will pay a big price for helping bail out the rest of…
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gm & ford ‘on the verge of bankruptcy’
from bloomberg: General Motors Corp. and Ford Motor Co., the two biggest U.S. automakers, have about a 46 percent chance of default within five years, according to Edward Altman, a finance professor at New York University’s Stern School of Business. “Both are in very serious shape and the markets reflect that,” Altman, the creator of…
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boho grove, mexi drugs, truckstop tasers & rp
vanity fair editor arrested at bohemian grovefrom oakland focus: Alex Shoumatoff, a contributing editor at Vanity Fair magazine, tried to sneak into the exclusive Bohemian Grove in Monte Rio, Calif., this week. He was hoping to get an inside look at the exclusive retreat of some of the world’s most prominent CEOs, business leaders and…
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Economic Meltdown Just Heating Up
wholesale inflation is worst in 27 years…stocks drop again amid fears about financials…fannie-freddie lifeline puts taxpayers on the hook…analyst warns on wachovia amid more bank worries…bernanke signals growth risks & intensified’ inflation danger…citigroup shares drop to lowest price since 1998… dollar freefall: new record lowfrom bloomberg: The dollar declined to a record low against the…
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mortgage giants’ collapse could herald 30’s-style depression
from paul joseph watson: Veteran London Times journalist William Rees-Mogg predicts that the collapse of U.S. mortgage giants Fannie Mae and Freddie Mac could herald a downturn into a 1930’s style depression that threatens to sweep away democratic governments. Rees-Mogg served as editor of The Times, Britain’s oldest surviving newspaper, from 1967 to 1981, and…
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dollar doom, fed failure & bank runs
jim rogers: dollar doomed, fed will failfrom blacklisted news: In this very recent interview with Bloomberg, Jim Rogers says Asia is the future, the dollar is a terribly flawed currency and he doesn’t want to own any, oil will certainly pass $200/barrel soon, and the (privately owned) Federal Reserve will disappear within the next decade.…
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the buck doesn’t stop here, it just keeps falling
from ap: The almighty dollar is mighty no more. It has been declining steadily for six years against other major currencies, undercutting its role as the leading international banking currency. The long slide is fanning inflation at home and playing a major role in the run-up of oil and gasoline prices everywhere… Everything made in…
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beijing missiles, israeli aid, reconquista & ‘plan mercator’
beijing deploys missiles around the olympic stadiumfrom epoch times: The Opening of the Beijing Olympics will occur in about 40 days. The Chinese Communist regime has deployed surface-to-air missiles in Beijing City to prevent an airborne terrorist attack on the Olympics. According to a June 22 report from Hong Kong’s Sing Tao Daily, Beijing’s surface-to-air…
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US stock plunge makes worst june since 1930
from cnn/money: U.S. stocks fell sharply Thursday with the blue-chip index enduring its worst June so far since 1930, and plunging to its lowest finish since Sept. 11, 2006, after getting slammed hard as crude soared to new highs and Goldman Sachs disparaged U.S. brokers and advised selling General Motors Corp. “We’re going to move…