Bombshell: Goldman Sachs Helped Greece Cover Up Its Huge Debt

NYT is out with a major story by Louise Story, Landon Thomas and Nelson D. Schwartz on how Goldman Sachs, Morgan Stanley and other investment banks have helped Greece hide the extent of its debt:

As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.

Fall of the Dollar on G-20 Finance Ministers Agenda

(BobChapman) – The G-20 finance ministers meet in Scotland on November 6th and 7th, and they will all be bleating about the fall in the dollar. France started this week, and the others will follow. Their currencies are rising in value and they do not like it.

Crisis of Solvency or “Double-dip Recession”

(WashingtonsBlog) – In an essay entitled “The risk of a double-dip recession is rising”, Nouriel Roubini affirms two important points:

Do We Really NEED The Giant Banks?

Bernanke, Summers and Geithner say that we can’t let the giant banks fail, because – without them – the economy will be starved of credit and we will be plunged into a depression.

This isn’t true.

MSM: Overpopulation – 60 percent in US breath toxic air

Newspapers across the nation report on accelerating water shortages, gridlocked traffic, air pollution, climate change and a plethora of environmental dilemmas facing America.

MSM: Examiner Editorial – Get ready for Obama’s coming hyperinflation – 4-29-09

Santayana’s maxim – those who refuse to learn from history are doomed to repeat it – has grown threadbare from heavy use. But it unavoidably comes to mind this week, as President Barack Obama and his fellow Democrats on Capitol Hill blithely put the final touches on the chief executive’s proposed 2010 federal budget.