Foreclosures in Phoenix Set a New Record for One Week: 2,210
• HousingDoom.comThat indicates the number of foreclosed properties in January could be double the 3,295 tracked by Arizona State University across the county in August.
Contents Pages by Subject
Economy - Economics USA
Ron Paul’s Texas Straight Talk on the Bailout
• emac.blogs.foxbusiness.comIf there’s anyone in Congress who should feel like he has been shouting into a field of cotton, it should be Congressman Ron Paul (R-Texas). And sometimes a journalist just needs to yield the platform for once, for God’s sakes, to someone who is t
Job Losses Pushing U.S. Economy Into `Significant' Recession
• Bloomberg.comOct. 4 (Bloomberg) -- The U.S. may be heading for its worst recession in at least a quarter century as the credit crisis forces employers across the country to cut workers and ratchet back spending.
A personal email from a friend - Get Ready for a Bank 'Holiday'
Written By:Just an interesting tale from the current financial scene. This was posted by a Border Patrol officer in a gun enthusiast forum I hang out on. It is only one tale among all the millions going on,...but I found it interesting.
Read Letter
European Leaders Pledge to Continue Bailouts, Toughen Rules
• Bloomberg.comOct. 4 (Bloomberg) -- European leaders pledged to continue bailing out their own nations' banks, stopping short of a regional rescue effort, in response to the global credit crisis.
Bailout 101: What new law says (let's look, after it is passed)
• CNNHere's a rundown of key provisions of the financial rescue plan. (blah blah blah
Bush: Effects of financial bailout will take time
• Reuters.comOne day after Bush signed the $700 billion rescue package into law, he sought to assure the public the government would be careful in implementing the legislation aimed at easing a credit crisis that has created turbulence in global financial markets
Fiscal Crisis Is Hitting Some States Hard
• Washington PostThe U.S. financial crisis is hampering the ability of many state and local governments to borrow cash for short-term expenses and is threatening to delay long-term road, school and airport projects, including some in the Washington area.
Wells Fargo agrees to buy Wachovia; Gov't. objects
• APA battle broke out Friday for control of Wachovia, as Wells Fargo agreed to pay $14.8 billion for the struggling bank, while Citigroup and federal regulators insisted that Citi's earlier and lower-priced takeover offer go forward.
Long Island pols explain why they passed bailout bill
• NewsdayWASHINGTON - They all voted "yes" on the Wall Street bailout - and in an unusual gesture, Long Island's House delegation issued a joint statement Friday explaining their reasons for supporting the unpopular $700-billion package.
Paulson Moves On to Nuts and Bolts of "Rescue"
• Washington PostThe Treasury faces a delicate balancing act to properly price the assets it will buy. Under the bill, they can purchase any financial firm that has a meaningful presence in the US and to any assets that are being held by these companies.
Treasury to Hire Asset Management Firms to Jumpstart Rescue
• Bloomberg.comOct. 4 (Bloomberg) -- Treasury Secretary Henry Paulson is hiring as many as 10 asset-management companies to join the lawyers and bankers he is recruiting to kickstart the government's new $700 billion bank-rescue program.
House approves extension of jobless benefits
• APThe House voted Friday to extend unemployment benefits to those who have exhausted their current benefits. The vote came hours after learning of another jump in the jobless rate and after the House had approved a massive financial rescue plan for Wal
Dems praise Obama on bailout, GOP says little
• PoliticoDemocrats were far more vocal in crediting Obama’s intervention than Republicans were in acknowledging McCain's role.
Bailout vote-switchers tell their stories
• PoliticoMembers of a Republican women’s club in Andrews, Texas, applauded Rep. Mike Conaway during a speech earlier this week for voting against the landmark financial markets rescue plan. Now he has some explaining to do.
Traitors pass bailout, Bush signs, stock market falls
• ReutersStocks, which had been higher before the vote, dropped, with the S&P 500 index closing at its lowest level in almost four years. The dollar was also in retreat.
You're Going To Guarantee A Depression!!! Ron Paul
• YouTubeRon Paul continues to try to educate the people who should already know this. What will it take for them to wake up???
Who was more prophetic than Ron Paul?
• YoutubeI don't have to tell you things are bad. Everybody knows things are bad. It's a depression. Everybody's out of work or scared of losing their job. The dollar buys a nickel's worth; banks are going bust; shopkeepers keep a gun under th
Roll Call 681 - House Bailout Bill
• house.govHere is who voted for or against the amended bailout bill in the house today. Shadegg flipped as expected Flake voted against.
What were Paulson and Bernanke <i>really</i> up to?
• Fisher InvestmentsThese investment advisors take their best shot at explaining how Paulson and Bernanke destroyed Wall Street for the banking industry. [Adobe .pdf file -- long, but worth it.]
House starts voting on $700B bailout bill (just got word it passed)
• APMember after member went to the well of the chamber to voice discomfort and displeasure with many aspects of the bailout legislation. But they also said said they would vote for it anyway. And nearly 30 who voted against it changed their minds.
The Beginning of the End
Dave HodgesAmerica, while you slept, your country was stolen from you. Your country was absconded by all the political misfits that the disenfranchised former Republicans and Democrats have been trying to warn you about during the last several years.
Schwarzenegger to U.S.: California needs $7-billion loan within weeks
• LAtimes.comCalifornia Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within we
Employers cut jobs by most in more than 5 years
• APEmployers slashed payrolls by 159,000 in September, the most in more than 5 years, a worrisome sign the economy is hurtling toward a deep recession. The reduction in payrolls was much sharper than the 100,000 cuts economists were forecasting
US banks borrow record amount from Fed
• Times OnlineUS banks borrowed a record $367.8 billion a day from the Federal Reserve in the week ended October 1. Data from the US central bank shows how much financial institutions are relying on the Fed in its role as lender of last resort as short-term fundi
Insurance stocks drop after Sen. Harry Reid comment
• ReutersInsurance stocks, led by Hartford Financial, Principal Financial and MetLife, fell on Thursday, a day after the head of the Senate raised the question of whether a well-known insurer could be in financial trouble.
Animal Instincts: Main Street Seeks Revenge on Wall Street
• LiveScienceThe outrage expressed by many so-called Main Street folks over the proposed Wall Street bailout is based on more than a sense of injustice. It's about revenge, a basic animal instinct shared by humans, chimpanzees and even blue-footed boobies.
House Leaders Scramble for Votes with New Inducements
• The New York TimesHouse Republican leaders struggled on Thursday to persuade some of their members to reverse course and support the $700 billion economic bailout package, but both parties said that they were guardedly optimistic about winning final passage.
Fed Considers Lowering Interest Rates
• The New York TimesEven if Congress approves President Bush’s $700 billion rescue plan for Wall Street, with the slowing economy, Fed officials are considering yet another reduction in the central bank’s benchmark interest rate.
Traitors First
Ernest HancockNational Socialization of the Economy? (I wouldn't do it if I were you John)
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