As Lehman Brothers careened toward bankruptcy in 2008, the New York Federal Reserve Bank came to its rescue, sopping up junk loans that the investment bank couldn't sell in the market, according to a report from court-appointed examiner Anton R. Valukas.
The New York Fed, under the direction of now-Treasury Secretary Tim Geithner, knowingly allowed itself to be used as a "warehouse" for junk loans, the report says, even though Fed guidelines say it can only accept investment grade… Continue
Added by Anti Oligarch on March 24, 2010 at 10:28am —
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Changing Britain: Two days before a budget that will be the opening shot of this year's general election campaign, Jon Snow visits Hull to assess what impact the recession has had on voters.
There are few places in Britain that have felt the force of the recession as Hull; more jobs have gone in the Humber area than… Continue
Added by Anti Oligarch on March 24, 2010 at 6:30am —
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US official says Israel's security protocols 'offer blueprint for trying to thwart terrorism plots in aviation system'
Reuters
Source: Y Net News.com, 03.24.10, 02:24 / Israel News
President Barack Obama's nominee to oversee security at US airports said on Tuesday he wants to shift screening closer to the Israeli model to include more behavior detection in a bid to… Continue
Added by Anti Oligarch on March 24, 2010 at 4:44am —
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What do Tony Blair, Russian oligarch Oleg Deripaska, and one-time Terminator Arnold Schwarzenegger all have in common? The answer: a British lobbying group.
The trio can all be linked via an influential London-based organisation called The Climate Group, which was set up in 2004.
According to its website, the non-profit group was established to “kickstart a new dialogue around climate change and mobilise cross sector…
The Chilcot Inquiry into the Iraq War could take an explosive new twist after it emerged that leading figures in George Bush's administration have been asked to give evidence to it.
Requests are understood to have been made to
Dick Cheney, Condoleezza Rice, Donald Rumsfeld and Stephen Hadley
Photo: EPA
Sources in Washington said the inquiry sent out emails "about three weeks ago" to senior officials in Mr Bush's… Continue
Added by Anti Oligarch on March 22, 2010 at 10:00pm —
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With House Democrats poised to pass the Senate health care bill with some reconciliation changes later today, it is worthwhile to take a comprehensive look at the freedoms we will lose.
Of course, the overhaul is supposed to provide us with security. But it will result in skyrocketing insurance costs and physicians leaving the field in droves, making it harder to afford and find medical care. We may be about to live Benjamin Franklin's adage, "People… Continue
Added by Anti Oligarch on March 22, 2010 at 5:02pm —
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Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.”—C. S. Lewis (1898 - 1963)
Since Barack Obama took office last winter, the administration, Harry Reid and Nancy Pelosi have edged America closer to the brink of socialism with their bailouts of the banking and automobile industries, mind-blowing spending and appointment of czars to micro-manage America.
But yesterday, with the House passage of the Senate health care bill, the federal government officially crossed the line. The far left has socialized nearly one-fifth of the…Continue
Added by Anti Oligarch on March 22, 2010 at 4:00pm —
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Laurence M. Vance [send him mail] writes from Pensacola, FL. He regularly contributes articles and book reviews to both secular
and religious periodicals.
DUBLIN � Ireland's senior Roman Catholic, Cardinal Sean Brady, said Monday he would not resign despite admitting he helped the church collect evidence against a child-molesting priest � and never told police about the crimes.
Brady, as a priest and Vatican-trained canon lawyer in 1975, said he interviewed two children about the abuse they suffered at the hands of the Rev. Brendan Smyth. He said both children were required to sign oaths promising not to tell anyone outside the church… Continue
It is apparent that the Everything is OK series (it’s under a playlist on my youtube channel) are under attack. A privacy suit has been launched against them, and they will start to be shut down in 48 hours. I… Continue
Added by Anti Oligarch on March 21, 2010 at 1:16pm —
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Most people think that banks lend solely from their base of deposits. Some also know that with fractional reserve banking, they can loan out many times more than they actually have in reserves.
But very few people - with the exception of those in the banking industry and financial experts - know where credit really comes…
According to news reports, the U.S. military is shipping “bunker-buster” bombs to the U.S. Air Force base at Diego Garcia in the Indian Ocean. The Herald Scotland reports that experts say the bombs are being assembled for an attack on Iran’s nuclear facilities. The newspaper quotes Dan Piesch, director of the Centre for International Studies and Diplomacy at the University of
London: “They are gearing up totally for the destruction of Iran.”… Continue
Added by Anti Oligarch on March 21, 2010 at 6:01am —
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20 Mar 2010 Demonstrators outside the U.S. Capitol, angry over the proposed health care bill, shouted "nigger" Saturday at U.S. Rep. John Lewis,…Continue
Added by Anti Oligarch on March 21, 2010 at 5:30am —
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By CHRISTY HOPPE / The Dallas Morning News
choppe@dallasnews.com
AUSTIN – The federal government may soon send unmanned aircraft to scour West Texas and the state's coastal waters in an effort to boost border security, U.S. Homeland Security Secretary Janet Napolitano said in a letter to the governor sent Friday.
Perry had formally requested the assistance a week ago. The need also was underscored in a phone call that Democratic nominee Bill White had with Napolitano… Continue
Added by Anti Oligarch on March 20, 2010 at 11:00pm —
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THE bill taxpayers picked up after Tony Blair gave evidence at the Iraq inquiry for a single day was £273,000, it was disclosed yesterday.
Hundreds of police were on duty as protesters gathered outside the QE2 Conference Centre in Westminster.
The former prime minister infuriated demonstrators by slipping into the building at 7.15am before they had time to assemble. He left just six hours later by a side exit.
IN THE mid-Nineties, after Gordon Brown had been beaten to the Labour leadership by Tony Blair, he was often to be found, licking his wounds and nursing his grievances, in the penthouse apartment of Geoffrey Robinson, a fellow Labour MP who had made a fortune in business.
Around himself Brown gathered a close-knit clan of supporters. The two foremost members were Ed Balls, his bumptious chief economic adviser, and Charlie Whelan, his fearsome press secretary.
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