THESYNDROME.COM » Wall Street

Showdown looming in Congress over automaker rescue

admin — Mon, 17 Nov 2008 03:43:36 +0000

WASHINGTON (AP) -- Hardline opponents of an auto industry bailout branded the industry a "dinosaur" whose "day of reckoning" is near, while Democrats pledged Sunday to do their best to get Detroit a slice of the $700 billion Wall Street rescue in this week's lame-duck session of Congress....

Wall Street’s Bailout is a Trillion-Dollar Crime Scene — Why Aren’t the Dems Doing Something About It?

admin — Fri, 14 Nov 2008 08:00:01 +0000

Washington's handling of the bailout is not merely incompetent. It may well be illegal.

BEHIND THE LINES: Our Take on the Other Media’s Homeland Security Coverage

admin — Thu, 13 Nov 2008 11:27:09 +0000

When Barack Obama takes office next January, “Americans won’t just get a new president; they might finally learn the full extent of George W. Bush’s warrantless domestic wiretapping,” Wired’s Ryan Singel suggests. The next president is unlikely to radically overhaul his predecessor’s controversial intel policies, an approach sure to raise Dem Party blood pressure, The Wall Street Journal’s Siobhan Gorman learns from Obama advisers. That said, the top two intel officers expect to be replaced early in the next administration, The Washington Post’s Walter Pincus and Karen DeYoung learn.

Naomi Klein: ‘Is it Treasury that has been partially privatized by Wall Street?’

admin — Wed, 12 Nov 2008 00:42:14 +0000

(Permission to use Klein's articles [link:www.naomiklein.org/about-this-site|noted] at her website) This article is of critical importance for everyone to read and thoroughly digest. Here are extended excerpts, but please see link for complete piece. [b][link:www.naomiklein.org/articles/200...

Could Just 4% of the Wall Street Bailout End World Hunger?

admin — Mon, 10 Nov 2008 06:44:07 +0000

Could Just 4% of the Wall Street Bailout End World Hunger? World hunger seems like one of those grand unsolvable problems – the perennial favorite wish of beauty pageant queens. The truth is, it's not unsolvable at all. The United Nations’ ...

Retailers post worst October sales figures since at least 1971

JCMach1 — Fri, 07 Nov 2008 09:23:12 +0000

The report sends stocks lower for a second straight day. More bad economic news is expected as the government reveals unemployment figures for October. By Maura Reynolds and Andrea Chang November 7, 2008 Reporting from Los Angeles and Washington — New signs piled up Thursday that the ailing economy is taking another turn for the worse, with a [...]

The Canadian National Newspaper: Wall Street Bail-Out continues Oversight of Human Development

admin — Wed, 05 Nov 2008 04:41:00 +0000

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Real Change Depends on Stopping the Bailout Profiteers

admin — Tue, 04 Nov 2008 05:00:00 +0000

November 4th, 2008

Huffington Post

To understand the meaning of the U.S. election results, it is worth looking back to the moment when everything changed for the Obama campaign. It was, without question, the moment when the economic crisis hit Wall Street.

Up to that point, things weren’t looking all that good for Barack Obama. The Democratic National Convention barely delivered a bump, while the appointment of Sarah Palin seemed to have shifted the momentum decisively over to John McCain.

Jim Hightower: The Five Most Wanted Rip-off Artists from Wall Street and Washington

admin — Mon, 03 Nov 2008 08:00:01 +0000

Our economy didn't melt down, it was taken down the unbridled greed of economic elites, enabled by their political courtesans in Washington.

The Bailout Profiteers

admin — Fri, 31 Oct 2008 21:20:33 +0000

October 31st, 2008

Rolling Stone

Editor’s note: The online version of this story has been amended to reflect developments since the publication of the print edition.

On October 13th, when the U.S. Treasury Department announced the team of "seasoned financial veterans" that will be handling the $700 billion bailout of Wall Street, one name jumped out: Reuben Jeffery III, who was initially tapped to serve as chief investment officer for the massive new program.

On the surface, Jeffery looks like a classic Bush appointment. Like Treasury Secretary Henry Paulson, he's an alum of Goldman Sachs, having worked on Wall Street for 18 years. And as chairman of the Commodity Futures Trading Commission from 2005 to 2007, he proudly advocated "flexibility" in regulation — a laissez-faire approach that failed to rein in the high-risk trading at the heart of the meltdown.

Christian Crazies Lay Hands on the Wall Street Bull

JCMach1 — Fri, 31 Oct 2008 17:54:17 +0000

Some Christian fanatics are concerned, quite reasonably, about the economy, and have chosen, quite absurdly, to try and correct the problem with prayer. So far, so typical, but then ? well, they picked a peculiarly oblivious way to do it. They prayed before a statue of a golden bull on Wall Street. We are going [...]

Note to Journalists about False Quotation

admin — Fri, 26 Sep 2008 16:06:47 +0000

September 26th, 2008

NOTE TO JOURNALISTS ABOUT FALSE QUOTATION: A September 26 AFP wire story incorrectly attributed a quote to Naomi Klein that should have been attributed to Arun Gupta. The error has been corrected by AFP but please note that the call-out below was NOT written by Naomi Klein and though she supported the original protest call, the statement is correctly attributed to Gupta, as stated in the corrected AFP article also posted below. We would greatly appreciate if this error was not repeated.

Call-Out by Arun Gupta

This week the White House is going to try to push through the biggest robbery in world history with nary a stitch of debate to bail out the Wall Street bastards who created this economic apocalypse in the first place.

This is the financial equivalent of September 11. They think, just like with the Patriot Act, they can use the shock to force through the “therapy,” and we’ll just roll over!

What Wall Street Should Be Required to Do, to Get A Blank Check From Taxpayers

admin — Sun, 21 Sep 2008 10:15:00 +0000

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Weak Dollar Costs U.S. Economy Its World No. 1 Spot

admin — Sat, 15 Mar 2008 06:21:17 +0000

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. Taking the gross domestic product of both economies in 2007, the combined GDP of the 15 countries which use the euro overtook that of the United States when the European currency [...]

Most Economists Say Recession Has Arrived as Outlook Darkens

admin — Fri, 14 Mar 2008 07:21:50 +0000

The U.S. has finally slid into recession, according to the majority of economists in the latest Wall Street Journal economic-forecasting survey, a view that was reinforced by new data showing a sharp drop in retail sales last month. “The evidence is now beyond a reasonable doubt,” said Scott Anderson of Wells Fargo & Co., who was [...]