March 18, 2008

articles on the global financial crisis ..

<http://www.telegraph.co.uk/money/main.jhtml?xml=/money008/03/17/ccview117.xml>US
losing confidence vote as investors flee
Asian, Mid East and European investors stood aside at last week's
>auction of 10-year US Treasury notes. "It was a disaster," said Ray
>Attrill from 4castweb. "We may be close to the point where the
>uglier consequences of benign neglect towards the currency are revealed."
>Posted
><http://www.whatreallyhappened.com/cat_economy.html#080473>Mar 16,
>2008 11:00 PM PST
>Category: <http://www.whatreallyhappened.com/cat_economy.html>ECONOMY
>
>
><http://www.bloomberg.com/apps/news?pid=20601087&sid=aS87YcPKuDDE&refer=worldwide>Dollar
>Doomsayers Draw Signs From Bernanke Rate Cuts
>Ben S. Bernanke's interest-rate cuts have touched off a vicious
>circle of doom for the dollar.
>
>The Federal Reserve reduced the rate on direct loans to commercial
>banks by a quarter-point to 3.25 percent before Asian financial
>markets opened today. It will likely lower its target rate for
>overnight loans between banks tomorrow to at least 2.25 percent from
>3 percent, according to futures traded on the Chicago Board of
>Trade. Lower borrowing costs work against the dollar by making
>fixed-income securities issued by the government less appealing to
>global investors.
>Posted
><http://www.whatreallyhappened.com/cat_economy.html#080472>Mar 16,
>2008 10:59 PM PST
>Category: <http://www.whatreallyhappened.com/cat_economy.html>ECONOMY
>
>
><http://wsws.org/articles/2008/mar2008/bear-m15.shtml>Fed rescue of
>Bear Stearns raises specter of Depression-era crash
>Invoking a little-used provision added to the Federal Reserve Act in
>1932, at the height of the Great Depression, the US central bank
>agreed to allow the Federal Reserve Bank of New York to insure an
>infusion of credit to Bear Stearns by JP Morgan Chase. Under the
>terms of the "secured loan facility," to extend for up to 28 days,
>the risk of a default by Bear Stearns will be borne by the Federal
>Reserve Bank of New York, not JP Morgan Chase. The latter will serve
>essentially as a conduit for the cash provided by the US central bank.
>Posted
><http://www.whatreallyhappened.com/cat_economy.html#080471>Mar 16,
>2008 10:58 PM PST
>Category: <http://www.whatreallyhappened.com/cat_economy.html>ECONOMY
>
>
><http://www.infowars.com/?p=822>U.S. No Longer Number One Economy
>The U.S. economy lost the title of "world's biggest" to the euro
>zone this week as the value of the dollar slumped in currency markets.
>Posted
><http://www.whatreallyhappened.com/cat_economy.html#080470>Mar 16,
>2008 10:55 PM PST
>Category: <http://www.whatreallyhappened.com/cat_economy.html>ECONOMY
>
>
><http://www.economist.com/displayStory.cfm?story_id=10870166&fsrc=RSS>Stripped
>Bear
>A CENTURY after John Pierpont Morgan bailed out Wall Street, his
>bank is at it again. In a dramatic move on Friday March 14th, the
>Federal Reserve Bank of New York and JPMorgan Chase made emergency
>funding available to Bear Stearns after other market players lost
>confidence in the beleaguered investment bank as a trading partner.
>As the credit crunch has deepened and broadened, the worst fear of
>many on Wall Street has been the collapse or forced rescue of a big
>bank or broker. That moment is now upon them.
>Posted
><http://www.whatreallyhappened.com/cat_economy.html#080469>Mar 16,
>2008 10:53 PM PST
>Category: <http://www.whatreallyhappened.com/cat_economy.html>ECONOMY
>
>
><http://www.freepress.org/departments/display/19/2008/3054>Ohio's
>voting machines are now an official crime scene
>At least 15 touch-screen voting machines that produced improbable
>numbers in Ohio's 2006 statewide election are now under double-lock
>in an official crime scene. And the phony "Homeland Security Alert"
>used by Republicans to build up George W. Bush's 2004 vote count in
>a key southwestern Ohio county has come under new scrutiny.
>Posted
><http://www.whatreallyhappened.com/cat_vote_fraud.html#080468>Mar
>16, 2008 10:52 PM PST
>Category: <http://www.whatreallyhappened.com/cat_vote_fraud.html>VOTE FRAUD
>
>WRH: If Bush isn't the legally elected President, then we don't have
>to pay for his wars.
>
>
><http://www.nytimes.com/2008/03/17/world/asia/17market.html?ref=world>Major
>Stock Markets in Asia Tumble
>Major Asian stock markets fell sharply in early trading on Monday as
>pessimism continued to spread despite the Fed's dramatic moves over
>the weekend, sending Tokyo's benchmark index to a three-year low.
>Posted
><http://www.whatreallyhappened.com/cat_economy.html#080467>Mar 16,
>2008 10:48 PM PST
>Category: <http://www.whatreallyhappened.com/cat_economy.html>ECONOMY
>
>~~~
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