Let Wall Street firms fail

Let Wall Street firms fail
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Kenneth Rogoff: Let Wall Street firms fail


By Kenneth Rogoff - Special to The Washington Post

Wednesday, September 17, 2008
Story appeared in section,This past weekend, the U.S. Treasury and the Federal Reserve finally made it abundantly clear that they won't bail out every significant financial firm in America. Certainly this came as a rude shock to many financiers.In allowing the nation's fourth-largest investment bank, Lehman Brothers, to file for bankruptcy, and by forcefully indicating that they are prepared to see even more bankruptcies, our financial regulators showed Wall Street that they are not such creampuffs after all.The question now: What's next? Assuming the financial sector continues to melt down over the next couple of months, at what point, if any, should the government get back into the game? It would be a mistake to do so before a great deal more consolidation takes place.------

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Their rust
The rust of their money is going to be a testimony against them. ( James 5:1-3. ) Why is the rust a testimony against them? Something that isn't used gets rusty--because they didn't put it to use and keep it in circulation. Did you know that most of your coins will turn green in you don't keep handling them and using them? God says to the rich, You hoarded them up instead of getting them out and using them? God does not have anything against riches as long as they are used and to put to use helping people--in wages, in benefits, in socialization, in whatever it may be--social security--as long as the rich use the money to help the poor and keep the money in circulation--as long as they give it away--God will even prosper them and give them more, so they will have more to share! Hasn't He done this with us? God's economic policies work! The big business policy is: If things get bad, hang on to your money, sit on it, don't get it in circulation--keep it! So they hold on to it!
Ted Rudow III,MA



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The Stanford Daily


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This Stanford Life: Growing Up McCain



August 28, 2008
By Paul Craft
I grew up with John McCain. His Arizona senate offices — and now, “Southwestern Campaign Headquarters” — are just blocks from my childhood home in Phoenix, Ariz. Located on the unassuming 16th St. in a short glass building across from an auto repair place, I passed these offices every day for nine years on the way to school. Further along this same route was John McCain’s church, North Phoenix Baptist Church. Then, just a few blocks north of my destination was one of his half-dozen houses. Finally, a few blocks south was the Catholic high school attended by some of my neighborhood friends and John McCain’s son, who is now serving in Iraq. ......

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Ted Rudow III,MA
When the shortage had becomes very severe and the West's war machine couldn't operate because the shortage becomes so serious, then it will precipitate the Oil War in the West's last desperate effort to secure the oil that it needs to survive in its present rich, industrialised condition which was invasion of Iraq!
What you may not know yet is that Gov. Palin is a huge proponent of oil drilling in Alaska. McCain, a fervent supporter of the war in Iraq was asked by a hawkish supporter when the United States would "send an airmail message to Iran," McCain responded: "You know that old Beach Boys song, Bomb Iran?"Then, to the tune of the song "Barbara Ann," he sang: "Bomb bomb bomb, bomb bomb Iran."
It's really pitiful that so many American Christians support the most un-Christian thing imaginable - war - under the illusion that it's God's will and God's way. They're stuck way back in the Old Testament era, thinking that the US is a modern Israel, performing God's will.