Economy

(RollingStone) – The Feds vs. Goldman

The government’s case against Goldman Sachs barely begins to target the depths of Wall Street’s criminal sleaze – Read More Here

(EconomicCollapseBlog) – Will The Gulf Of Mexico Oil Spill Be An Economic Disaster That The Gulf Coast Will Never Recover From? – Read More Here

(EconomicCollapseBlog) – How Is The U.S. Economy Supposed To Succeed When Our Politicians And The Big Banks Are Making Billions Of Dollars Betting Against It?

Most people around the globe think of America as a great “capitalist” economic machine, but the truth is that the U.S. financial system is essentially one massive betting parlor at this point. In fact, there has been a whole lot of easy money made in this betting parlor over the past several years by our politicians and by the big financial players down on Wall Street. So how did they make all of this money? They did it by betting against America. Read More Here

(GlobalResearch) – Covert Economic Agenda Beneath Immigration Reform – Shamus Cooke

How convenient for Goldman Sachs. Just as most working people were demanding that the Goldman bosses and other Wall Street criminals either be massively fined, jailed or worse, the nation’s attention is suddenly forced to react to the racist immigration law in Arizona. And although the two incidents are not directly related, they represent a trend that is likely to increase in the months and years ahead. Read More Here

(YahooFinance) – Video: Congress Refuses to Outlaw Insider Trading For Lawmakers

Even a cynic can find Washington’s hypocrisy shocking at times. The Wall Street Journal reports today a House bill that would force lawmakers to make greater disclosures on financial transactions and disallow them from trading on nonpublic information is going nowhere fast.

That’s right. Members of Congress are currently allowed to profit on insider trading! View Video Here

(WashingtonPost) – Illegal Immigrants cost feds more than $10 billion a year

A report that found that illegal immigrants in the United States cost the federal government more than $10 billion a year — a sum it estimated would almost triple if they were given amnesty — has drawn criticism from immigration advocacy groups. Read More Here

(WashingtonPost) – Effort to expand audits of Fed picks up steam in Senate

A contentious effort to expand audits of the Federal Reserve that sailed through the House despite heavy criticism appears to be picking up steam as the Senate considers broad new financial regulations. Read More Here

(GlobalResearch) – Cutting Public Debt: Economic Science or Class War?

In The Bullet no.345, Ingo Schmidt showed how the credit rating agencies have sparked an assault by international bondholders on the sovereign debt of Greece, where workers are being made to pay heavily for the fiscal crisis of the state. Read More Here

(WashingtonsBlog) – The Fed Must Be Audited: The Fraudulent Practices of the Federal Reserve

In March 2004, when Alan Greenspan was Fed chairman, he suppressed the opinions of those Fed officials who knew that there was a housing bubble.

Congressman Alan Grayson points out that – because the Fed unilaterally decided to hand out half a trillion to foreigners without any Congressional oversight, and that Bernanke testified that he didn’t know who got the loot – the Fed must be subject to an audit. Read More Here

(GlobalResearch) – Greece: Poverty and Social Implosion in the Wake of the Financial Bailout – Finian Cunningham

“This is not our debt, but we are being made to pay for it,” said one angry Greek worker, explaining why he like thousands of other Greeks are taking to the streets in protest at their country’s bail-out plan.
The so-called rescue package of €110 billion ($143 billion) facilitated by the European Union and International Monetary Fund (IMF) is not just aimed at shoring up Greece from total economic collapse. At stake too is the solvency of several other Eurozone countries – Belgium, Ireland, Italy, Portugal and Spain – and even the euro currency itself. Read More Here

(USAWatchdog) – Inflation and Bailouts Go Hand in Hand

Pick a financial fire and you can be sure the U.S. government will hose it down with gallons of money. AIG, General Motors, Chrysler, insolvent states, FDIC, Fannie, Freddie and all the banks are just a few of the blazes Uncle Sam has sprayed money on

Now, the Federal Reserve is printing up another $105 billion to send to Greece to help with its debt problem. Is the bailout cycle getting ready to take another turn bailing out the Banks? Read More Here

(CNBC) – European Union, Currency Are Headed for Collapse: Gartman

The current European debt crisis likely will not end until the euro collapses as a currency and takes the entire European Union with it, said Dennis Gartman, hedge fund manager and author of “The Gartman Letter.”
“I think the whole thing will go down to defeat, the whole thing will eventually unravel,” Gartman said in an interview with CNBC.com. Read More Here

(SmirkingChimp) – US Government Now 96.5% of the Mortgage Market Q1, 2010

If You Were NOT Paying for Your Neighbor’s Mortgage, How Many Home Sales Would There Be?

The US government IS the US housing market. Read More Here

(ABC30) – Video: City of Fresno Declares Fiscal Emergency

The city of Fresno is facing a $30.6 million budget shortfall and the mayor announced she wants to cut hundreds of city jobs. Video Link Here