A great insight from Jim Willlie in his Golden Jackass March Newsletter.
Imports to the US are slowing, but import prices are seriously in uptrend. Total US import prices are up 13.6% on an annual bas…

The US economy depends on access to energy and the role of dollar as the reserve currency. Take those two things away and the source of funds to finance the US military-industrial interests shrink ra…

Well, now we have a hint as to why the American Bar Association does not seem to object to predatory lending and weekend bailouts. Either that or Sullivan & Cromwell and Skadden Arps are insisti…

I wonder who made money on puts on Bear Stearns stock? Was this a highly profitable economic hit?

SEC: Bear Stearns’s Liquidity Eroded Rapidly Since Tuesday

By Judith Burns – Dow Jones Newswire…

I am excited about all the good things percolating here in Tennessee. Saturday was a rainy day full of the promise of Spring – perfect for a trip with my dog over to Hohenwald, Tennessee.
I spe…

Alan Greenspan’s comments on the current financial situation here:

Greenspan Sees Many Casualties From Crisis
By Jamie McGeever & Ian Chua – Reuters (17 Mar 2008)

Catherine’s translation here:

Our …

Dangerous Wheat-Killing Fungus Detected in Iran
From the UN News Centre (5 Mar 2008)
“A dangerous new fungus with the ability to destroy entire wheat fields has been detected in Iran, the United Natio…

letters@time.com

Ladies and Gentlemen:

Thank you for publishing “The Wire’s War on the Drug War” by this TV series producer and writing team, Ed Burns, Dennis Lehane, George Pelecanos, Richard Pric…

letters@time.com

Ladies and Gentlemen:

Thank you for publishing “The Wire’s War on the Drug War” by this TV series producer and writing team, Ed Burns, Dennis Lehane, George Pelecanos, Richard Pric…

Well, Eliot Spitzer’s resignation was just in time. Can you imagine what he would have said about this?

As of December 31, 2007, the New York State Teacher’s Retirement System owned 493,007 shares…

On February 14th, Eliot Spitzer published an editorial in the Washington Post about the federal role in promoting predatory lending:
“When history tells the story of the subprime lending crisis and re…

To understand the political issues that determine the rise and fall of New York Attorney Generals and Governors such as Eliot Spitzer, it is helpful to map the financial flows in New York and how they…

To understand the political issues that determine the rise and fall of New York Attorney Generals and Governors such as Eliot Spitzer, it is helpful to map the financial flows in New York and how they…

HOW IS THE WAR GOING IN IRAQ?

MARCH 13, 2008. Media reports about the surge in Iraq indicate it’s been working, and now the war is dropping off the radar screens of voters, according to new polls.

…

In the summer of 1989, I was serving as Assistant Secretary of Housing at the Department of Housing and Urban Development (HUD) in the first Bush Administration. The Secretary of Housing was Jack Ke…

In the summer of 1989, I was serving as Assistant Secretary of Housing at the Department of Housing and Urban Development (HUD) in the first Bush Administration. The Secretary of Housing was Jack Ke…

Special kudos to Jim Sinclair of jsmineset.com who has dubbed the new fed loan system to member banks as “the monetization of bankruptcy.”

I think Jim is still a tad gracious. I would say that the “…

So, with rumors circulating of more write offs and major financial institutions in trouble, does Wall Street want Elliot Spitzer out? Could it be he offended both banks and black budget folks with his…

So, with rumors circulating of more write offs and major financial institutions in trouble, does Wall Street want Elliot Spitzer out? Could it be he offended both banks and black budget folks with his…

This weekend, mega defense contractor United Technologies announced an offer for Diebold (1) (2) at a 66% premium to the current stock market price. Leading this effort is the board of directors of Un…

This weekend, mega defense contractor United Technologies announced an offer for Diebold (1) (2) at a 66% premium to the current stock market price. Leading this effort is the board of directors of Un…

An unanswered question proposed for our discussion:

Is M3 rising at 15-25% rate really a combination of a much higher M3 printing loans and money (including in the form of fictitious marking up abov…

The new spin is that the recession will be short, but the recovery will not be because “Father Fed” is going to deal with inflation for our own good. Kind of like the pedophile who insists he tenderl…

Sometimes I am asked how to prepare for a worst case scenario if we experience a financial or political meltdown in the U.S. or the global banking system. One way to help yourself imagine what such …

“Due to budgetary constraints, the Economic Indicators service will be discontinued effective March 1, 2008.”

Economic Indicators.gov is brought to you by the Economics and Statistics Ad…

Thanks to the wonderful opensecrets.org, here are the top 20 contributors for the candidates running in the Presidential primaries.
[* These charts list the top donors to the candidate in the 2008 ele…

Whistle-Blower Site Taken Offline
From BBC News (18 Feb 2008)

Wikileaks Taken Down By Order of a US Court
By Phil Cubeta – Gift Hub (18 Feb 2008)
U.S. Court Shuts Down Whistleblower Site
By Pau…

One way for municipalities to address the credit contraction and
creeping financial coup d’etat we have been writing about and to help
protect their citizenry from a falling dollar is to issue local c…

~ Updates

Bank Wants Out of Clear Channel TV Sale
RadioWorldOnline (29 Feb 2008)
Wachovia May Halt Clear Channel-Providence Deal
Bizjournals.com (25 Feb 2008)
(Click the image to view the full Compla…

In recent testimony, New York Governor Eliot Spitzer referred to the
efforts by the Office of the Comptroller of the Currency to dilute and
stop state enforcement efforts against predatory lending. Se…

In recent testimony, New York Governor Eliot Spitzer referred to the
efforts by the Office of the Comptroller of the Currency to dilute and
stop state enforcement efforts against predatory lending. Se…

Maher Brothers Make $1.1 Billion Claim Against LehmanSource: American Shipper – East Coast Connection (21 Jan 2008)

Lehman Clients Demand $1.1 Billion in Auction Dispute (Update2)
Bloomberg (18 Jan…

For those who want to check out the social prestige being purchased by a few of the perpetrators of the subprime mortgage bust, check out Slate Magazines latest:

The 60 Largest American Charitable …

The Port Authority of New York and New Jersey is the owner of the World Trade Center. Bloomberg reports Goldman Sachs just had trouble auctioning Port Authority variable rate paper — with the rate so…

As I have mentioned before, the housing bubble and bust is successfully stripping municipalities of their financial sovereignty.

The Creeping Financial Coup d’Etat

To make matters worse, with munici…

I appreciate all the calls I have received from folks checking to see if I was ok after the latest round of tornados. We had quite a theatrical evening last week when the storms came through. My house…

A sampling from today’s Wall Street Journal of investigations of financial firms over the subprime downturn:

Brooklyn US Attorney’s office: criminal investigation of Bear Stearns and UBS
Manhattan …

Would you help us get accurate information about the missing money to
the Diane Rehm Show? I have sent her a note about a serious error on this morning’s show, “The Budget and the Deficit 10am Thurs…

Anti-War Candidates are Top Recipients of ’08 Donations from US Troops
From ThinkProgress.org

Individuals in the Army, Navy and Air Force made those branches of the armed services among the top contr…

Anti-War Candidates are Top Recipients of ’08 Donations from US Troops
From ThinkProgress.org

Individuals in the Army, Navy and Air Force made those branches of the armed services among the top contr…

To maintain his or her standard of living, each person in the United
States requires over 22 tonnes of minerals each year:
* 5,640 kg of stone
* 4,250 kg of sand and gravel
* 430 kg of cement
* 125 kg…

To maintain his or her standard of living, each person in the United
States requires over 22 tonnes of minerals each year:
* 5,640 kg of stone
* 4,250 kg of sand and gravel
* 430 kg of cement
* 125 kg…

On February 5, 2008 at 12:19:07 at Hickory Valley City Hall I was assigned access code 1723 to vote in the Tennessee primary. I elected to vote in the Republican primary and voted for Ron Paul and 12 …

Solari’s E-Mail Update ~ January 31, 2008
“The gold reserves of the United States have not been fully and independently audited for a half century. Now there is proof of those gold reserves and those …

Exit U.S.
By Mike Muehleck posted by Eric Fry – the Rude Awakening (27 Nov 2007)

I posted this in Top Picks in December. Given the interest, I am reposting with an excerpt:
One and a half million U….

Massachusetts Charges Merrill With Fraud
By George Morcroft – MarketWatch.com (1 Feb 2008)

“This complaint is focused on Merrill Lynch’s sale, through agents Kipper and Choy, of certain esoteric fin…

Hidden Swap Fees by JPMorgan Chase, Morgan Stanley Hit School Boards
By Martin Z. Braun & William Selway – Bloomberg.com (2 Feb 2008)
—
My question is not why do the leading banks and investment ban…

Coast to Coast AM Radio is distributed by Premiere Radio Networks which is owned by Clear Channel Communications.

On January 15, 2008, Coast to Coast’s host, George Noorie, announced the signing o…

Want great barbecue with high quality ingredients at affordable prices?

I just had dinner at Jim ‘N Nick’s Bar-B-Q in Memphis. They have restaurants in Colorado, Florida and throughout the South.

…

For those of you who keep asking me “Who is doing this?” here is a very
useful tool from the Financial Times which provides revenue and deal value rankings of the global investment banks for 2007.

(C…

Urgent Action on Behalf of Oaxacan Political Prisoners
From Food First (21 Jan 2008)

Learn more about Asamblea Popular de los Pueblos de Oaxaca

Countrywide’s Underwriters Sued for Fraud by New York Agencies
By David Mildenberg & Karen Freifeld – Bloomberg.com (26 Jan 2008)

The New York lawsuit has been consolidated with other lawsuits ag…

Countrywide’s Underwriters Sued for Fraud by New York Agencies
By David Mildenberg & Karen Freifeld – Bloomberg.com (26 Jan 2008)

The New York lawsuit has been consolidated with other lawsuits ag…

Mortgage Lender Hid Big Risks, Suit Alleges
By James Nash – Columbus Dispatch (23 Jan 2008)
“The giant mortgage financer known as Freddie Mac swindled an Ohio pension system out of as much as $27 mi…

Earlier news re insider selling by senior Barrick executives has me wondering what they know about market liquidity, 2008 prices for precious and base metals and how they know it. The heads of explora…

Usually it’s the “lone” assassin. Now that coup d’etats are financial, we have the “lone” or “rogue” trader.

xxx

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The lone trader strikes again ala 2008:
SocGen Reels From Record $7billion Rogue…

That’s it. I’m ditching Google. It is lots of little things, but the reality is I don’t trust ’em.

Centralizing internet data does not lend itself to promoting freedom, particularly the way these guy…

Source:

Cleveland Sues 21 Lenders Over Subprime Mortgages

By Christopher Maag – New York Times (12 Jan 2008)
xxx

xxx

xxx

See City of Cleveland Press Release for a list of lenders.

Click the image to vi…

World Bank Closes Offices After Bomb Threat
By Lesley Wroughton – Reuters (17 Jan 2008)

Let’s say $40 of every barrel of oil sold to the US by large oil companies sourced in the middle east goes into a sovereign wealth fund. Let’s say there is $4 trillion missing from the US Treasury, an…

Let’s say $40 of every barrel of oil sold to the US by large oil companies sourced in the middle east goes into a sovereign wealth fund. Let’s say there is $4 trillion missing from the US Treasury, an…

In an e-mail (1.02.08) from the FDIC:
The e-mail is to inform you that the FDIC is retiring the loan sales website at www.fdicsales.com effective January 4, 2008. From this point forward, the FDIC wil…

NH Primary: Pre-Election Polls Wildly Different Than Results Announced for Clinton/Obama
Blogged by Brad Friedman – The Brad Blog (8 Jan 2008)

2008 New Hampshire State Primary Results
A Closer Look a…

Thanks to a very special reader, Catherine’s blog review of Political Ponerology has been translated into Swedish.

Click on this image to access the translation: