U.S. Planning to Buy Equity in Financial Institutions

If the feds end up purchasing stock in the banks to help capitalize them, then in all due respect to the Congress, and the Treasury, they better not purchase stock in banks that are now in the process of purchasing other financial institutions. To wit: Wells FArgo purchases Wachovia for 15.9 billion and Chase purchases Bear Stearns for $287 million, only after taxpayer money used to bailout Bear Stearns. Do you get the picture? The feds have made perfect fools out of the American people. Please don't let it continue. Obama, unfortunately, is on this same track. Notice how he really never committed to anything while the bailout discussions were going on. Quite frankly I am ashamed that we have someone like that who failed the American people. It was I know, a political move as he did not want to make the wrong choice and have it thrown up to him. He played it safe by not saying or doing anything. McCain had good intentions but when he found out what the Congress was up to, there was no way to rebuke it. Now a substantial number of the people are going to put a man in office who must take credit for some of the fallout personally. Yet he does not because the powers that be need someone in there that I believe can more easily be manipulated. Just look at the stock market. The American people are frightened to death about the loss of capitalism in our market place. We will see what the polls show. I perhaps in the early stages would have voted for Obama, but I could not make the transition as I have been able to better understand what he is all about and that comes down to spending money we don't have. If America was concerned this go round, just wait. It is not easy to go down a path that offers many hardships, but those hardships will not be nearly as bad as the ones that can be developed. Always remember, the very important part that the Democratic Congress, more specifically, Dodd and Frank played in this crisesand now you want to put the Democrats in full charge. I must say that it is very frightening. WE need to take a long hard look at where the pieces of the puzzle lie and I do believe a few are missing. We won't find them unless both Presidents have what is so vitally needed and that is to remember that the American people come first and we can do nothing for anyone else unless our own house is in order. I will never forget when Clinton told the American people, from the Whitehouse, when he talked about how he had not lied about the Monica Lewwinsky event and that "it depends on what the definition of the word is - is. This would be the beginning of the American people's laxness in what we can accept about future Presidents. I did not vote for Clinton, and his work in the White House was fair. Reagan had already set up the programs that would begin in l992 and Clinton would be moving up on the curve. Having said that, the jobs followed when the housing industry picked up. So many had already lost their jobs, how can the Democrats talk about all the jobs Clinton added to the market. And remember, we were hiring back people in l993 and l994, but they never brought with them,the health insurance that was lost when they lost their jobs. Reagan gets the credit and Clinton does not, so Obama will not be walking into the same situation on the up side of the curve. Be careful America. Itwillot bean an easy choice. I hope you makethe right one.

A £516 trillion derivatives 'time-bomb'

Most markets have something behind them. Central banks require reserves – something that backs up the transaction. But derivatives don't have anything – because they are not real money, but paper money.

this system has core flaws, now that "confidence has gone" all core flaws stand out exposed

http://www.independent.co.uk/news/business/ne...