Economic Glance
The International Monetary Fund (IMF) has been described as one of the enforcers of globalization. Nations who receive IMF assistance are often forced to surrender more sovereignty and further open up their borders to international banks and multinational corporations. Much of their wealth is then sucked dry by foreign predators with its resources and population essentially becoming the collateral for such financial aid. As a result of the global economic crisis, many more nations are having to turn to the IMF for help. At the recent G-20 Summit in London, the IMF’s role was expanded and its powers enhanced. There was little mention of its failed policies and its less then stellar record of effectively promoting development and democracy around the world. While some talk of reform, the IMF continues to rape the world, one poor nation at a time.
GM to close plants for 9 weeks
Two people briefed on the plan say General Motors Corp. will close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles.
Workers steered to high-risk investing
Federal rule imposed just before market crash.
Shortly before the first signs of the stock market collapse, the Bush administration made a crucial decision that has propelled an estimated one to two million workers into stock-heavy retirement funds.
The administration's decisions came in response to a congressional mandate to encourage more workers to participate in company-sponsored retirement savings plans. The Bush administration came up with a rule that enabled businesses to automatically enroll their workers in tax-free 401(k) retirement plans.
Fed Shrouding $2 Trillion in Bank Loans in ‘Secrecy,’ Suit Says
U.S. taxpayers need to know the risks behind the Federal Reserve’s $2 trillion in lending to financial institutions because the public is now an “involuntary investor” in the nation’s banks, according to a court filing by Bloomberg LP.
Why didn't Fed force big banks to take less of AIG bailout?
The Federal Reserve Bank of New York in November chose not to pursue tough negotiations with large foreign and domestic banks and instead allowed them to receive 100 cents on the dollar in government funds to settle tens of billions of dollars of exotic financial bets guaranteed by American International Group.
At the time, Timothy Geithner, now Treasury Secretary, headed the powerful New York Fed.
Senior S&L Regulator Says Government Engaging in Massive Cover-Up of Economic Crisis: “The Entire Strategy Is to Keep People from Getting the Facts”
[They] don't want to change the bankers, because if we do, if we put honest people in, who didn't cause the problem, their first job would be to find the scope of the problem. And that would destroy the cover up....
Geithner is ... covering up. Just like Paulson did before him....
These are all people who have failed. Paulson failed, Geithner failed. They were all promoted because they failed....
VIDEO: Ron Paul is Not Alone. FINALLY, Senators Speak Honestly About the Federal Reserve
Attention Ron Paul supporters, and "End the Federal Reserve" activists...you finally may have some more politicians willing to stand up to the Federal Reserve! While they might not be going for the jugular, it appears that a few brave souls are trying to kick down the iron curtain hiding the money masters at the Federal Reserve.
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