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Prisoners of compromise
Editor,
Democratic President Barack Obama will not “rule out” using private military companies like Blackwater Worldwide in Iraq. Obama also has no plans to sign on to legislation that seeks to ban the use of these forces in U.S. war zones by Jan. 2009, which he hasn’t! Despite their antiwar rhetoric, Obama has adopted the congressional Democratic position that would leave open the option of keeping tens of thousands of U.S. troops in Iraq for many years. Those who would reach such a lofty office in the eyes of the world have entangled themselves deeply in the affairs of this world. Those who are elected to this office that is so highly esteemed among men have few choices left to them. When in their hearts they know exactly where they stand, and which way they’ll go when the showdown comes as many Democratic and Republican leaders have.
They are prisoners of the compromises they have made to attain the office, prisoners of their advisers and counselors, prisoners of the policies of their party and the values of their nation.
Ted Rudow III,MA
Menlo Park

Sunday, March 29, 2009

Obama is a prisoner of compromise

San Jose Mercury News

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From Daily News Group readers
Posted: 03/26/2009 08:24:56 PM PDT


Obama is a prisoner of compromise

Dear Editor: Democratic President Barack Obama will not rule out using private military companies like Blackwater Worldwide in Iraq. Obama also has no plans to sign on to legislation that seeks to ban the use of these forces in U.S. war zones by January 2009.

Despite their anti-war rhetoric, Obama and congressional Democrats have taken a position that would leave open the option of keeping tens of thousands of U.S. troops in Iraq for many years. Those who would reach such a lofty office in the eyes of the world have entangled themselves deeply in the affairs of this world. Those who are elected to this office that is so highly esteemed among men have few choices left to them.

In their hearts they know exactly where they stand, and which way they'll go when the showdown comes, as many Democratic and Republican leaders have. They are prisoners of the compromises they have made to attain the office, prisoners of their advisers and counselors, prisoners of the policies of their party and the values of their nation.

Ted Rudow III,MA

Obama

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March 27, 2009

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Obama is a prisoner of compromise
Dear Editor:
Democratic President Barack Obama will not rule out using private military companies like Blackwater Worldwide in Iraq. Obama also has no plans to sign on to legislation that seeks to ban the use of these forces in U.S. war zones by January 2009.
Despite their anti-war rhetoric, Obama and congressional Democrats have taken a position that would leave open the option of keeping tens of thousands of U.S. troops in Iraq for many years. Those who would reach such a lofty office in the eyes of the world have entangled themselves deeply in the af­fairs of this world. Those who are elected to this office that is so highly esteemed among men have few choices left to them. In their hearts they know exactly where they stand, and which way they'll go when the showdown comes, as many Democratic and Republican leaders have. They are prison­ers of the compromises they have made to attain the office, prisoners of their advisers and counselors, prisoners of the policies of their party and the values of their nation.
Ted Rudow III, MA

Friday, March 27, 2009

Bomb someone they've labeled a terrorist

March 27
Bomb someone they've labeled a terrorist
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Israel deliberately destroyed the few factories the Gazans still had functioning, systematically crushing what was left of their shattered economy. In the majority of instances, the Israelis did this simply because they wanted to inflict as much pain and suffering as possible on the Palestinian population of Gaza. Israeli politicians hate to have to give anything up. When it looks like they might actually have to negotiate with the Palestinians or reach a deal that would involve any sort of sacrifice on Israel's part, the Israeli military gets into the act and starts bullying the Palestinians more than usual, trying to provoke them.
They'll make a raid, or arrest some Palestinians, or bomb someone they've labeled a terrorist, and keep doing that sort of thing until they provoke a violent reaction from the Palestinians. Then, of course, the Israelis don't have to give up anything or negotiate anymore - at least for a while - because they will say, "Look, the Palestinians obviously aren't serious about peace! See how violent and bloodthirsty they are?" But it's obvious who the victim is and who the rogue state is as well.

Ted Rudow III, MA California, United States
.........................................................................................................................

The International Herald Tribune and The Daily Star are available every morning in: Lebanon, Syria, Jordan, Egypt, Qatar, Kuwait, United Arab Emirates, Saudi Arabia, Bahrain, Oman

Wednesday, March 25, 2009

It's about power!

http://www.indybay.org/newsitems/2009/03/25/18582206.php


It's about power
by Ted Rudow III,MA ( Tedr77 [at] aol.com )
Wednesday Mar 25th, 2009
The global economic crisis isn't about money - it's about power. How Wall Street insiders are using the bailout to stage a revolution
MATT TAIBBI



That guy — the Patient Zero of the global economic meltdown — was one Joseph Cassano, the head of a tiny, 400-person unit within the company called AIG Financial Products, or AIGFP. Cassano, by contrast, was just a greedy with a knack for selective accounting who ran his scam right out in the open, thanks to Washington's deregulation of the Wall Street casino. "It's all about the regulatory environment," says a government source involved with the AIG bailout. A CDO is like a box full of diced-up assets. They can be anything: mortgages, corporate loans, aircraft loans, credit-card loans, even other CDOs. So as X mortgage holder pays his bill, and Y corporate debtor pays his bill, and Z credit-card debtor pays his bill, money flows into the box.The key idea behind a CDO is that there will always be at least some money in the box, regardless of how dicey the individual assets inside it are... What the inventors of the CDO did is divide up the box into groups of investors and put that $10 into its own level, or "tranche." They then convinced ratings agencies like Moody's and S&P to give that top tranche the highest AAA rating — meaning it has close to zero credit risk.
A demonstration to those in high standing of who is really the boss. Even the big money boys are as pawns in the hands of the puppeteer. The puppeteer's total power works by fear. The puppeteer sends a strong signal that it is indeed he who holds the bag and manipulates the strings, and all must yield to his gestures and signals, else they will be tangled up and put out of commission. his ability to keep the marionettes moving and flowing and dancing in apparent sync and coordination.
Ted Rudow III,MA

Tuesday, March 24, 2009

Cities

March 24
Cities
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Front » News • Top Headlines

Economic summit talks recession, features Rice





By: Nikhil Joshi
Published: March 16, 2009

We are at a critical juncture, say economic and political leaders

A Friday the 13th gathering of economic and political leaders, mostly from the Bush era, the annual Stanford Institute of Economic Policy Research (SIEPR) Economic Summit was marked by a sense of urgency. Speakers stressed the need to find out why the economy has tumbled, as well as how to take bold corrective action.

The summit featured a group that has shaped the world economy for years, and is now pondering ways to kick start a recovery - former Secretaries of State Condoleezza Rice and George Shultz, former Treasury Secretary Robert Rubin, former Bush chief economic advisor Edward Lazear and Wells Fargo Chairman Richard Kovacevich, along with an assortment of the most influential economics professors in the country.

Condoleezza Rice

In her first on-campus public address since returning to Stanford, Rice drew on her experience at the top of the State Department and called on the U.S. to take a strong leadership role in pushing a global recovery, lest developing economies that are on “the cusp” snap away from the liberal capitalist model.

Rice framed her remarks by saying that this is more than an economic crisis – it is a crisis of governance, and is calling into question which model of development governments should employ to best serve their people.

The former Secretary of State warned strongly against turning inward in tough economic times, noting that one of her deepest regrets from her time in the Bush administration was the government’s failure to implement immigration reform. Rice also voiced concern that America could lapse into a destructive, protectionist trade philosophy.

According to Rice, this isn’t just a recession; it is an international crisis that is calling globalism into question in some parts of the world. She argued that countries in Eastern Europe and Latin America, for example, are in particular danger because of aggressive policies in recent years, such as the Estonian flat tax.

“It is my belief that these countries have democratic institutions that are strong enough to survive these pressures,” Rice said, “but we should not underestimate the degree to which they are under pressure.”

Several times, Rice returned to the specific challenges and successes she faced while in government.

“Oil warped international politics in a way that nothing else did,” she said.

Rice was especially proud of the Bush administration’s foreign assistance program, the Millennium Challenge, which included large grants in the hundreds of millions of dollars that were tied to governance benchmarks, such as shortening the number of days it takes to open a business. She expressed hope that the U.S. would not sharply curtail foreign assistance in the midst of the current financial troubles.

Rice concluded her talk by discussing the American psyche, a theme that was repeated throughout the day. But Rice added an international flavor, saying that the U.S. needs to project a confident, optimistic image not for just its own sake, but for the health of the global economy.

.....................................................................

I was thinking about cities being on the brink and going bankrupt: But can you imagine what would happen in a city the size of New York with millions of people in it if suddenly they couldn’t pay the garbage men or the train drivers or the truck or the bus drivers, subway drivers electrical workers, water men, all the various utilities, school teachers–if suddenly the whole city went totally bankrupt. Well, you can imagine what would happen if suddenly nobody in a city that size got paid and they couldn’t buy their food, or the water stopped running, the sewage stopped flowing and the lights went out? Now what do you think would happen?–Riots, brother?–No!–There’d be war!
The tables are once more being over turned as the rich are beginning to themselves be destroyed by their own riches and evil pollution of the earth! The rich United States and Europe are beginning to have their money system collapsing because they have built it on paper and now even mere electronic impulses instead of real valuables such as the gold and silver from whence it came. The paper empires of the paper tigers of paper money, paper stocks, paper bonds, paper cheques, paper securities, paper deeds and paper contracts are beginning to burn like a wick without the oil and raw goods that used to feed it!


Cities

http://www.indybay.org/newsitems/2009/03/24/18581613.php


Cities
by Ted Rudow III,MA ( Tedr77 [at] aol.com )
Tuesday Mar 24th, 2009 9:13 AM

I was thinking about cities being on the brink and going bankrupt: But can you imagine what would happen in a city the size of New York with millions of people in it if suddenly they couldn't pay the garbage men or the train drivers or the truck or the bus drivers, subway drivers electrical workers, water men, all the various utilities, school teachers--if suddenly the whole city went totally bankrupt.
Well, you can imagine what would happen if suddenly nobody in a city that size got paid and they couldn't buy their food, or the water stopped running, the sewage stopped flowing and the lights went out? Now what do you think would happen?--Riots, brother?--No!--There'd be war!
The tables are once more being over turned as the rich are beginning to themselves be destroyed by their own riches and evil pollution of the earth! The rich United States and Europe are beginning to have their money system is collapsing because they have built it on paper and now even mere electronic impulses instead of real valuables such as the gold and silver from whence it came! The paper empires of the paper tigers of paper money, paper stocks, paper bonds, paper cheques, paper securities, paper deeds and paper contracts are beginning to burn like a wick without the oil and raw goods that used to feed it!

Ted Rudow III,MA

Sunday, March 22, 2009

Rogue state?

http://www.indybay.org/newsitems/2009/03/22/18580657.php


Rogue state?
by Ted Rudow III,MA ( Tedr77 [at] aol.com )
Sunday Mar 22nd, 2009
Israel deliberately destroyed the few factories the Gazans still had functioning, systematically crushing what's left of their shattered economy. But in the majority of instances the Israelis did it simply because they wanted to inflict as much pain and suffering as possible on the Palestinian population of Gaza.
Israeli politicians hate to have to give anything up. When it looks like they might actually have to negotiate with the Palestinians or reach a deal that would involve any sort of sacrifice on Israel's part, the Israeli military gets into the act and starts bullying the Palestinians more than usual, trying to provoke them.

They'll make a raid, or arrest some Palestinians, or bomb someone they've labeled a terrorist, and keep doing that sort of thing until they provoke a violent reaction from the Palestinians. Then, of course, the Israelis don't have to give up anything or negotiate anymore—at least for a while—because, "Look, the Palestinians obviously aren't serious about peace! See how violent and bloodthirsty they are!" But as the man says, it's obvious who the victim is and who the rogue state is as well!

Friday, March 20, 2009

Pride and greed

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Agence France Presse (AFP)
"Israel mulls toughening"
Israel's policy is indeed "Wipe them out, and then we won't have to worry about their rights and all that sort of thing anymore." That was the US policy in Vietnam too, to literally try to wipe them out. And if it hadn't been for world opinion, they would have. But the world was horrified at the things the US did there. And that's exactly what is happening now to Israel. The same thing that happened to the US in Vietnam is now beginning to turn the tide of world opinion totally against Israel. Israel is being exposed. She has no idea of evacuating any lands but is going to gobble up more. Read it in the papers. Rather than give the Palestinians just a little bit of land, their own land, they'd rather fight and die.Pride and greed. They don't want to have to admit that the land belongs to the Palestinians and they aren't willing to share it with them - think of it!

Ted Rudow III, MA California, United States
.........................................................................................................................

The International Herald Tribune and The Daily Star are available every morning in: Lebanon, Syria, Jordan, Egypt, Qatar, Kuwait, United Arab Emirates, Saudi Arabia, Bahrain, Oman

Sunday, March 15, 2009

A few bones to pacify the dogs?

A few bones to pacify the dogs?

Palo Alto Daily News

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From Daily News Group readers
03/14/2009

Dear Editor:
Bernard L. Madoff entered a federal courtroom in Manhattan on Thursday to admit that he had run a vast Ponzi scheme that robbed thousands of investors of their life savings. He admitted his guilt for the first time in public, and apologized to his victims, dozens of whom were squeezed into the courtroom benches behind him, before being handcuffed and led away to jail to await sentencing.

But under capitalism, selfishness and greed of the rich is given a license and they run the government, which was heightened by George W. Bush's example. This bailout is really not a bailout at all; it's a parting gift to the people that Bush once referred to jokingly as "my base." It's what European colonial rulers used to do when they finally realized they had to hand over power; they would loot the Treasury on the way out the door.

They make the laws, what chance do the poor have? They supposedly vote, so what? They vote for one greedy capitalist or another. Every one of the men running for office are rich men, what are they going to do for the poor? Throw'm out a few crumbs? A few bones to pacify the dogs?

Ted Rudow III,MA

Throw'm out a few crumbs?

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Dear Editor:
Bernard L. Madoff entered a federal courtroom in Manhattan on Thursday to admit that he had run a vast Ponzi scheme that robbed thousands of investors of their life savings. He admitted his guilt for the first time in public, and apologized to his victims, dozens of whom were squeezed into the courtroom benches behind him, before being handcuffed and led away to jail to await sentencing.

But under capitalism, selfishness and greed of the rich is given a license and they run the government, which was heightened by George W. Bush's example. This bailout is really not a bailout at all; it's a parting gift to the people that Bush once referred to jokingly as "my base." It's what European colonial rulers used to do when they finally realized they had to hand over power; they would loot the Treasury on the way out the door.

They make the laws, what chance do the poor have? They supposedly vote, so what? They vote for one greedy capitalist or another. Every one of the men running for office are rich men, what are they going to do for the poor? Throw'm out a few crumbs? A few bones to pacify the dogs?

Ted Rudow III,MA

Saturday, March 14, 2009

A few bones

http://www.indybay.org/newsitems/2009/03/14/18577225.php


The treasury on the way out the door.
by Ted Rudow III,MA ( Tedr77 [at] aol.com )
Saturday Mar 14th, 2009
Bernard L. Madoff entered a federal courtroom in Manhattan on
Thursday to admit that he had run a vast Ponzi scheme that robbed
thousands of investors of their life savings.


He admitted his guilt for the first time in public, and apologized to his victims, dozens of whom were squeezed into the courtroom benches behind him, before being
handcuffed and led away to jail to await sentencing.
But under Capitalism, where selfishness and greed of the rich is
given a license and they run the government which was heighten by
Bush's example! This bailout is really not a bailout at all; it’s a
parting gift to the people that the Bush—that George Bush once referred
to jokingly as “my base.” It to what European colonial rulers used to
do when they finally realized they had to hand over power; they would
loot the treasury on the way out the door.
They make the laws, what chance do the poor have? They supposedly
vote, so what? They vote for one greedy capitalist or another. Every
one of the men running for office are rich men, what are they going to
do for the poor? Throw'm out a few crumbs? A few bones to pacify the
dogs?
Ted Rudow III,MA

Thursday, March 12, 2009

Amerika the whore

U.S. | Global Justice and Anti-Capitalism
Amerika the Whore
by Ted Rudow III,MA
Thursday Mar 12th, 2009
We have to warn Europe she's got to cut her anchor to Amerika or she'll sink! She must not give Amerika all these artificial respirations and transfusions! Why should Europe save Amerika? They should just cut her loose and let her die!--Otherwise they'll bleed themselves to death! We've got to tell Europe to let Amerika go! They're putting their eggs in the wrong basket!


THEY CAN'T SEEM TO GET OVER THE "AMERIKAN DREAM," but that's not where God's going! They need to get on with their Socialism, and damn the Fascism of Amerika!They're trying to respect her! She doesn't deserve respect: She's an old Whore! Europe is trying to be married to Amerika, when they should cut her loose like a Whore!

BUT THE CAPITALISTIC FINANCIERS OF EUROPE: THEY'RE ALL LIKE A WHOLE BUNCH OF PIMPS! (Or Panders: Those who solicit business for a whore, and share in her wages and profits.)--They've got a whole lot invested in this Whore, and they don't want to lose it. So they try to save her so they can save their investments,so they can save her and continue to make a little money on her. She thinks she's their owner, but they're her owner, and unless they rescue her, she'll die; but they're trying to rescue her to save their own investments. She's going to die anyway, and they're going to lose anyway, so the quicker they cut her loose, the better!

IT'S TOTALLY ARTIFICIAL FOR THEM TO SUPPORT THE DOLLAR! If they'd just let the dollar sink down to where it belongs, Amerika would sink! But the whole trouble is, they each own too much of a share in the Whore, and they don't want to lose their investments. So the money pimps get together and agree to support her dollars when she's sick and not earning them any money. They think she's going to get well again, and they don't realize she's just going to die!
(REV.18:23b)" for thy merchants were the great men of the earth; for by thy sorceries were all nations deceived."
Ted Rudow III,MA

Amerika the whore

U.S. | Global Justice and Anti-Capitalism
Amerika the Whore
by Ted Rudow III,MA
Thursday Mar 12th, 2009
We have to warn Europe she's got to cut her anchor to Amerika or she'll sink! She must not give Amerika all these artificial respirations and transfusions! Why should Europe save Amerika? They should just cut her loose and let her die!--Otherwise they'll bleed themselves to death! We've got to tell Europe to let Amerika go! They're putting their eggs in the wrong basket!


THEY CAN'T SEEM TO GET OVER THE "AMERIKAN DREAM," but that's not where God's going! They need to get on with their Socialism, and damn the Fascism of Amerika!They're trying to respect her! She doesn't deserve respect: She's an old Whore! Europe is trying to be married to Amerika, when they should cut her loose like a Whore!

BUT THE CAPITALISTIC FINANCIERS OF EUROPE: THEY'RE ALL LIKE A WHOLE BUNCH OF PIMPS! (Or Panders: Those who solicit business for a whore, and share in her wages and profits.)--They've got a whole lot invested in this Whore, and they don't want to lose it. So they try to save her so they can save their investments,so they can save her and continue to make a little money on her. She thinks she's their owner, but they're her owner, and unless they rescue her, she'll die; but they're trying to rescue her to save their own investments. She's going to die anyway, and they're going to lose anyway, so the quicker they cut her loose, the better!

IT'S TOTALLY ARTIFICIAL FOR THEM TO SUPPORT THE DOLLAR! If they'd just let the dollar sink down to where it belongs, Amerika would sink! But the whole trouble is, they each own too much of a share in the Whore, and they don't want to lose their investments. So the money pimps get together and agree to support her dollars when she's sick and not earning them any money. They think she's going to get well again, and they don't realize she's just going to die!
(REV.18:23b)" for thy merchants were the great men of the earth; for by thy sorceries were all nations deceived."
Ted Rudow III,MA

Saturday, March 07, 2009

Spartan Daily - Serving San Jose State University since 1934

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Campus weighs in on same-sex marriage case

Abstract:
In November 2008, California voters ruled against gay marriage, but the fight for its reversal wages on. Oral arguments involving the legality of Proposition 8, which recognizes marriage as strictly between a man and a woman, will be made in front of the California Supreme Court today....

3/06/09
AIDS was first identified in the USA in 1981. The epidemic has now spread to every part of the USA and to all sectors of society. It is thought that more than one million people are living with HIV in the USA and that more than half a million have died after developing AIDS.
If "to the pure all things are pure" and "all things are lawful unto me," and if, under this Law of grace and Love, extramarital sex and all of these other things are lawful, then where do things like sodomy fit in?
If you are truly pure and loving, you wouldn't do such things, because they're definitely not good for you physically or spiritually, and they're hurtful. Just because "all things are lawful" unto us doesn't mean that we can go around murdering or killing or torturing people OR GIVING THEM AIDS! That's not love!
Ted Rudow III,MA
class of 1996

Wednesday, March 04, 2009

Gestapo-like

http://www.indybay.org/newsitems/2009/03/04/18574939.php


Gestapo-like
by Ted Rudow III,MA ( Tedr77 [at] aol.com )
Wednesday Mar 4th, 2009
The proposed National Animal Identification System (NAIS) would force even the smallest healthy farms to buy expensive new computer tracking equipment, and potentially would subject them to gestapo-like tactics by the USDA if they are in even slight technical non-compliance.
And all this just to fatten the pockets of the RFID chip manufacturers, and to make it LOOK like something is being done to make our food safer.
This is something they've been working on for years. They've already got this whole new credit system in the works. The whole World will soon buy on this credit system with no currency, no cheques, no paper money. You won't even need any more credit cards, because you will be your own credit card! You will have your invisible electronic number in your hand or in your forehead which can somehow be read by the cashier, or whoever you're buying goods from, who will then tap your number into his machine to see if you really have that much credit and to charge that up to your account and so on! Revelation 13:16 it says, "in the right hand, or in the forehead,"

Ted Rudow III,MA

Tuesday, March 03, 2009

Economic crisis has deeper roots than once believed

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Opinion


Paul Krugman writes for the New York Times.


Paul Krugman: Economic crisis has deeper roots than once believed

Tuesday, Mar. 3, 2009 Page 13A

Remember the good old days, when we used to talk about the "subprime crisis" – and some even thought that this crisis could be "contained"? Oh, the nostalgia! Today we know that subprime lending was only a small fraction of the problem. Even bad home loans in general were only part of what went wrong. We're living in a world of troubled borrowers, ranging from shopping mall developers to European "miracle" economies.

And new kinds of debt trouble just keep emerging.

How did this global debt crisis happen?
Why? Bernanke cited "the depth and sophistication of the country's financial markets" (which, among other things, have allowed households easy access to housing wealth). Depth, yes. But sophistication? Well, you could say that American bankers, empowered by a quarter-century of deregulatory zeal, led the world in finding sophisticated ways to enrich themselves by hiding risk and fooling investors....

Nor is the damage confined to the original borrowers. In America, the housing bubble mainly took place along the coasts, but when the bubble burst, demand for manufactured goods, especially cars, collapsed – and that has taken a terrible toll on the industrial heartland. Similarly, Europe's bubbles were mainly around the continent's periphery, yet industrial production in Germany – which never had a financial bubble but is Europe's manufacturing core – is falling rapidly, thanks to a plunge in exports.

If you want to know where the global crisis came from, then, think of it this way: We're looking at the revenge of the glut.

And the saving glut is still out there. In fact, it's bigger than ever, now that suddenly impoverished consumers have rediscovered the virtues of thrift and the worldwide property boom, which provided an outlet for all those excess savings, has turned into a worldwide bust.

One way to look at the international situation right now is that we're suffering from a global paradox of thrift: Around the world, desired saving exceeds the amount businesses are willing to invest.

And the result is a global slump that leaves everyone worse off.

So that's how we got into this mess. And we're still looking for the way out.


03/03/2009 :
Then the big mortgage banks, the last stop in guaranteeing mortgages, started to go under. The two huge state-supported U.S. mortgage banks, Freddie Mac and Fannie Mae—responsible for more than $5 trillion in mortgages—had to be nationalized, along with the world's largest insurance company, AIG.
Banks which had previously handled trillions in investments were finding that they were becoming insolvent almost overnight. Because of the global reach of these companies, this became a crash even more severe than the series of banking failures that led to the Great Depression in the 1930s.
This financial crisis has spread through the entire banking structure of the West. It has moved from a crisis of insolvency to a crisis of confidence in the banking system—everyone wants their money out because no one trusts their banks. The essential trust that allowed the goldsmiths to lend on the basis of their borrowed gold has begun to evaporate.
The International Monetary Fund warned that the world!
Ted Rudow III,MA

Monday, March 02, 2009

Predatory lending

http://www.indybay.org/newsitems/2009/03/02/18574605.php


Predatory lending
by Ted Rudow III,MA ( Tedr77 [at] aol.com )
Monday Mar 2nd, 20889
Predatory lending is a pejorative term used to describe practices of some lenders. There are no legal definitions in the United States for predatory lending, though there are laws against many of the specific practices commonly identified as predatory, and various federal agencies use the term as a catch-all term for many specific illegal activities in the loan industry.
Consumer advocates argue that borrowers, especially but not only unsophisticated borrowers, are not aware of their ability to negotiate, and might even be under the mistaken impression that the lender is placing the borrower's interests above its own.
When taxpayers gave Bank of America Corporation a $45 billion
bailout, the company was supposed to use the funds to help jumpstart
the economy. To date, this has not been the case. Instead the bank
has misspent on executive salaries and corporate jets. Then Bank of
America took even more money from cash-strapped states by not paying
for workers' healthcare. Bank of America' Platinum Plus charges 59.41%. It's just plain greed and selfishness as a result, their industries will fail, factories will close, unemployment will rise, and the next Great Depression will have started. The crash is going to happen.
Ted Rudow III,MA

Predatory lending

http://www.indybay.org/newsitems/2009/03/02/18574605.php


Predatory lending
by Ted Rudow III,MA ( Tedr77 [at] aol.com )
Monday Mar 2nd, 20889
Predatory lending is a pejorative term used to describe practices of some lenders. There are no legal definitions in the United States for predatory lending, though there are laws against many of the specific practices commonly identified as predatory, and various federal agencies use the term as a catch-all term for many specific illegal activities in the loan industry.
Consumer advocates argue that borrowers, especially but not only unsophisticated borrowers, are not aware of their ability to negotiate, and might even be under the mistaken impression that the lender is placing the borrower's interests above its own.
When taxpayers gave Bank of America Corporation a $45 billion
bailout, the company was supposed to use the funds to help jumpstart
the economy. To date, this has not been the case. Instead the bank
has misspent on executive salaries and corporate jets. Then Bank of
America took even more money from cash-strapped states by not paying
for workers' healthcare. Bank of America' Platinum Plus charges 59.41%. It's just plain greed and selfishness as a result, their industries will fail, factories will close, unemployment will rise, and the next Great Depression will have started. The crash is going to happen.
Ted Rudow III,MA