TV News LIES

Dodd, Chris (D-CT)     Senate     $103,100
Obama, Barack (D-IL)     Senate     $101,332
McCain, John (R-AZ)     Senate     $59,499
Clinton, Hillary (D-NY)     Senate     $35,965
Baucus, Max (D-MT)     Senate     $24,750
Romney, Mitt (R)     Pres     $20,850
Biden, Joseph R Jr (D-DE)     Senate     $19,975
Larson, John B (D-CT)     House     $19,750
Sununu, John E (R-NH)     Senate     $18,500
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Perlmutter, Edwin G (D-CO)     House     $10,500
Rangel, Charles B (D-NY)

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The International Monetary Fund is poised to embark on what analysts have described as "global quantitative easing" by printing billions of dollars worth of a global "super-currency" in an unprecedented new effort to address the economic crisis.

Should the move, which is up for discussion by the summit of G20 finance ministers this weekend, be adopted, it will represent a global equivalent of the Bank of England's plan to pump extra cash into the UK economy.

TVNL Comment: Making money out of nothing while creating a currency for the pending one world government. Remember...America was started mostly to get out of the grip of the private Bank of England.

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The aspirations that have defined the American experience — that those who work hard and play by the rules can get ahead, and that the next generation will have a better life than this one — have been battered by a devastating recession that shows few signs of having hit bottom.

"Maybe we were dreaming the American dream, you know what I mean?"

TVNL Comment: It is called the American "dream" because that is what it is to the masses. It has never been a reality except for a very few. Far more people have lived an American nightmare.

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Among the adjustments forced by the new circumstances, perhaps the cruelest twist for many boomers is the need to join younger generations in the roommate queue. The housing crash has forced record numbers of late-middle age homeowners to take in boarders or risk becoming boarders themselves. From California to Vermont, home-share organizations founded to assist the elderly are scrambling to meet the demands of newly bust boomers.

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The U.S. government's landmark takeover of troubled mortgage giants Fannie Mae and Freddie Mac will also serve to boost banks in Israel, according to banking analysts.

Officials announced that both giant institutions were being placed in a government conservatorship, a move that could end up costing taxpayers billions of dollars. Treasury Secretary Henry Paulson said allowing the companies to fail would have extracted a far higher price on consumers by driving up the cost of home loans and all other types of borrowing because the failures would "create great turmoil in our financial markets here at home and around the globe."

The chief economist of Moody's Economy.com sat down Thursday with a small group of reporters and offered a sobering view of what he sees ahead for the U.S. and global economies.

The short version: It could be a decade before the Dow reaches 12,000 points again.

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