MSM: Nine U.S. banks seized in largest one-day haul

(Reuters) – U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation’s banking industry are being crippled by bad loans.

Faulty Forecasting – Ralph Nader

Companies that specialize in stock market forecasting and trading—such as Goldman Sachs, Citigroup, Morgan Stanley, and JPMorgan Chase—pay very high salaries to their employee-vendors. New York Attorney General Andrew Cuomo just released data showing that these and other large banks are giving each of their 5000 trader-forecasters bonuses of at least one million dollars.

Video: Max Keiser On the Edge – 5-29-09

“How about water-boarding for Tim Geithner and Hank Paulson” – Max

What Caused the Economic Crisis?

CDS are like an insurance contract, where the purchaser buys “insurance” that a company won’t go out of business from a seller. If the company stays in business, the purchaser pays premiums to the seller, but if the company goes belly up, the seller has to pay the face value of the CDS “policy”.

Why are CDS so dangerous?

Ahmadinejad calls for ‘change’ in world order

Iranian President Mahmoud Ahmadinejad has invited all peace-loving humans across the world to take steps toward promoting justice.