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POPSTop Contributors to Barack Obama Goldman Sachs and Morgan Stanley are the biggest players in the Oil Futures market price manipulation also notice UBS of Germany who started the Sub Prime crisis... Oh yeah Real Change we can believe in you betchya..!
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POPSIllinois To Sue Countrywide And CEO Mozilo This is the first known case of a state authority charging Countrywide, the largest U.S. mortgage lender, for actions related to the housing crisis. It also comes on the same day the company's shareholders are expected to vote on its sale to Bank of America.
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POPSHas capitalism reached its limits? 6-12-08, 9:32 am Editor's Note: Japanese Communist Party Chair Shii Kazuo was interviewed on an Asahi Newstar Communication Satellite TV program broadcast on June 6. The interviewer was Hoshi Hiroshi, a senior political writer of the daily Asahi Shimbun. This is an excerpt of the transcription as provided by Akahata, the national daily newspaper of the Japanese Communist Party.
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POPSThree Broadcast Networks Earned A Big Fat Zero Former Health and Human Services Secretary Donna Shalala and former U.N. ambassador and assistant Secretary of State Richard Holbrooke also benefited, as did one prominent Republican — former Secretary of Housing and Urban Development Alphonso Jackson. Shalala and Holbrooke had left public office when they got their deals. But it was reasonable for Mozilo to think they'd serve again in another Democratic administration. And what, many wonder, was the quid pro quo for all this? Just a month ago, in unusually harsh language, Dodd ripped into President Bush on the subprime mess and defended a $400 billion plan that would bail out the subprime lending industry — including Mozilo. The Democrats' initial response has been to stall. They hope the problem will disappear until after the election. They need to investigate it fully, immediately and without prejudice — or risk having it blow up in their faces.
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POPSCuomo, Wall Street Agree On Mortgage Debt Overhaul The deal applies only to riskier, non-prime loans in America, and is designed to end what the industry calls "ratings shopping" that pits credit-rating agencies against one another. The $5 billion rating agency industry has been accused of issuing favorable ratings to secure business with leading Wall Street investment banks. The three ratings agencies also signed a letter of agreement to work with Mr. Cuomo to pursue further reforms for the mortgage industry. The attorney general said his probe into the entire mortgage industry, including loan originators and big banks, is ongoing. "We continue to believe that the more our customers, investors and other market participants know about how we do our work, the better," the president of Standard & Poor's, Deven Sharma, said. "We continue to work with the attorney general and policymakers to support effective operations of the world's capital markets."
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POPSDow Tumbles 395 Points On Oil Spike Stocks tanked Friday, with the Dow industrials shedding 395 points, after oil prices spiked more than $11 a barrel and the May jobs report showed a big jump in the unemployment rate. Bond prices surged, as investors sought safety in government debt, while the dollar tumbled versus the yen and euro. According to early tallies, the Dow Jones industrial average (INDU) lost 395 points, its biggest one-day point loss since February of 2007, at the start of the subprime mortgage crisis. The selloff Friday amounted to a decline of more than 3%.
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POPSPutting women's economic agenda in the forefront With all the chatter about Hillary Clinton inevitably losing her bid to become the first female President of the United States, much of the dialogue ends there. Even during the campaign, little was said about enduring economic divide between women and men. This article lays out a few areas worth looking at. They all warrant a closer look.
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POPSThe Driector of the Commodities & Futures Commission Tells All on Gas Prices.. Watch this click and open it and learn how Phil Gramm and Enron swine criminals are behind these outrageous gas prices using artificial speculation to run up prices and McCain has Phil Gramm as his chief economic adviser..it's asymmetrical economic warfare against the American people and American economy..Gramm is also behind the UBS sub prime mortgage crisis as well McCain is an enemy of America's best interests..no longer a hero..but a cad villain and corrupt sleaze bag..!
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POPSWho Will Pay For The Politicians Promises? Because of onerous regulations, it has been 30-plus years since a new refinery has been built. Similar regulations also explain why the U.S. nuclear energy production is a fraction of what it might be. Congress' solution to our energy supply problems is not to relax supply restrictions, but to enact the Energy Independence and Security Act of 2007 that mandates that oil companies increase the amount of ethanol mixed with gasoline. Anyone with an ounce of brains would have realized that diverting crops from food to fuel use would raise the prices of a host of corn-related foods, such as corn-fed meat and dairy products. Wheat and soybeans prices have also risen as a result of fewer acres being planted in favor of corn. Congress' proposed "solutions" to the energy and food mess it has created include a windfall profits tax on oil companies, food stamps, etc. These measures will not solve the problem, but will create new problems.
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POPSFunds to invest up to $8bn in National City bank All these billions being invested in propping up unsafe banks might have been put to more constructive and less risky use. Add the cost of wars. That is the money which is being taken away from the future ... from our children and their children. Best to start setting up non-money based ways of trading and bartering now, as money becomes increasingly scarce and worthless at the same time.
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POPSBank unveils £50bn rescue package The discount which the bank is paying is said to be about 10 per cent, not nearly enough to cover the potential losses from sub-prime investments. So Gordon Brown is liable to bankrupt all of us. Remember he has signed us up to another potential £50 billion in liabilities, just for Northern Rock! That's £150 billion and counting -- real money! (or is it?)
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