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recession
What if the Wall St. collapse and bailout was purposely orchestrated?
Posted September 23rd, 2008 by warmmidwestWhat if the crash on Wall St. was purposely orchestrated?
I don't mean to be tinfoil hat-ish, but there's reason to ask and wonder.
... the profits here can be beyond imagining. In fact, they can be so large that one might well wonder if the whole subprime fiasco was not set up just to allow speculators to profit wildly on its collapse...
UPDATE: It makes a lot of sense when you consider this:
Read More »the Credit Default Swap market has grown from approximately $900
Billion at the end of the year 2000 to a total of $62.2 trillion at the
end of 2007 (according to the International Swaps and Derivatives
Association). That is more than four times the U.S. Gross Domestic Product and larger than the entire world stock market.
Hey Chairman Obey, The Recession's Over Here
Posted June 24th, 2008 by Nate WAs the economy worsens, more and more key players are getting on board with the idea of a second economic recovery package. But not everyone's where we need them to be to get something done in time to matter. For example Rep. David Obey (D-WI), powerful chairman of the Appropriations Committee free associated to Congress Daily (subscription only) and revealed that he doesn't quite get how urgent doing something to stave off this recession is:
"People use a kinds of terminology; I don't care if you call it a second supplemental or a second economic [stimulus] package -- to me there are all kinds of things that we need domestically -- but we need finish this job [war supplemental] before we can start thinking about the next one"
This pains me. Not only are House Democrats punting on telecom immunity, they're putting war spending ahead of domestic spending.
Read More »Congressional Democrats Forget Key Part of Obama's Relief Package?
Posted June 12th, 2008 by Nate WCross posted at myDD.
CQ Politics is reporting on the Democratic leadership's desire for a second package to strengthen the economy that largely lines up with Barack Obama's plans. But are Congressional Dems omitting aid to state governments, one of the key planks of Obama's plan?
Read More »Democrats have been contemplating a second effort to inject money this year into the faltering economy. The idea appears to have gained traction, particularly among congressional leaders, since Monday when presumptive Democratic presidential nominee Sen. Barack Obama of Illinois outlined a $50 billion stimulus proposal that will serve as the centerpiece of a two-week economic tour of battleground states.
Though the prospects for a second stimulus package are slim, the debate gives congressional Democrats an opportunity to rally around Obama.
The massive economic stimulus package enacted in February focused on tax breaks for businesses and rebates for individuals and families.














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