US Government States World's Biggest Bail Out

Sept. 7, 2008 The world's biggest financial bail-out was staged by the American government in a bid to ease the global credit crisis.   US Treasury Secretary Hank Paulson and FHFA chief Jim Lockhart The country's two biggest mortgage companies were nationalised amid fears that their bankruptcy would have triggered an economic collapse. The multibillion-dollar rescue of Fannie Mae and Freddie Mac - dwarfing the UK nationalisation of Northern Rock - will be funded by the American taxpayer. It represents a potential liability of £2,900 billion.. » read more

Why U.S. Moved on Mortgage Giants

Sept. 2, 2008 Freddie Mac's books jolted inspectors The U.S. government's planned takeover of Fannie Mae and Freddie Mac came together hurriedly after advisers poring over the companies' books for the Treasury Department concluded that Freddie's accounting methods had overstated its capital cushion, according to regulatory officials briefed on the matter. The proposal to place both mortgage giants, which own or back $5.. » read more

U.S. Rescue Seen at Hand for 2 Mortgage Giants

Sept. 6, 2008 WASHINGTON — Senior officials from the Bush administration and the Federal Reserve on Friday called in top executives of Fannie Mae and Freddie Mac, the mortgage finance giants, and told them that the government was preparing to place the two companies under federal control, officials and company executives briefed on the discussions said. The plan, which would place the companies into a conservatorship, was outlined in separate meetings with the chief executives at the office of the companies’ new regulator. The executives were told that, under the plan, they and their boards would be replaced and shareholders would be virtually wiped out, but that the companies would be able to continue functioning with the government generally standing behind their debt, people briefed on the discussions said. It is not possible to calculate the cost of any government bailout, but the huge potential liabilities of the companies could cost taxpayers tens of billions of dollars and make any rescue among the largest in the nation’s history.. » read more

ON THE ‘OCCULT’ NATURE OF THE ORIGINAL MASONIC HIERARCHY

Sept. 5, 2008 In the true and original sense of the word, a Mason is an apprentice served trades-person who works with stone. Other Craft Guilds (wheelwrights, shipwrights, engineers, farmers etc…) are for the related crafts, all of which likewise necessitate the serving of an apprenticeship. Imagine thirty people working on a building site... » read more

GMAC: Closer to Admitting It's (Already) Bankrupt

September 4, 2008 (LPAC)--Economist Lyndon LaRouche's accurate, February 2005 warning of bankruptcy looming for the auto industry, was focussed on the unpayable debt bubble of the General Motors Acceptance Corporation (GMAC), the so-called financial arm of GM. Three and a half years later, GMAC, a financial firm with $150 billion in debt liabilities, may be in the final stages before being forced to admit it's actually, (already), a bankrupt operation. GMAC announcement on Sept. 3 that it is essentially closing down its mortgage unit ResCap, which is laying off 5,000 of its remaining 8,000 employees and ceasing to do retail mortgage business, closing all of its 200 offices across the country. GMAC's other half, auto finance, is also losing money.. » read more

Ron Paul vs. Ben Bernanke (video)

July 16, 2008 Ron Paul takes on evil fed chairman Ben Bernanke. Opening Statement and Q&A. TO VIEW THIS VIDEO CLICK ON: http://www.youtube.com/watch?v=aT0txlTod8w. » read more

Missing 911 Links (video)

Poasted 9/1/08 Officially released on 8/18/2008 MISSING LINKS is the first movie to expose the identity of the criminals responsible for 9/11. Now you will discover the definitive truth about 9/11 and learn why even the most popular movies on the subject have failed to address the evidence exhaustively presented in this video. The facts will make it abundantly clear that the so-called 9/11 "Truth" movement has been infiltrated and is ultimately controlled by the same criminals who orchestrated the attacks. As they say, "if you want to control the dissent you lead the dissent." Culminating evidence from the FBI, CIA, NSA, US Armed Forces Intelligence sectors, Foreign Intelligence organizations, local law enforcement agencies and independent investigators, Missing Links goes where no other 9/11 video has dared to.. » read more

Regions Bank Acquires All the Deposits of Integrity Bank, Alpharetta, Georgia

FOR IMMEDIATE RELEASE August 29, 2008 Media Contact: David Barr (202) 898-6992 Cell: 703-622-4790 dbarr@fdic.gov Integrity Bank, Alpharetta, Georgia, with $1.1 billion in total assets and $974.0 million in total deposits as of June 30, 2008, was closed today by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation was named receiver. The FDIC Board of Directors today approved the assumption of all the deposits of Integrity Bank by Regions Bank, Birmingham, Alabama.. » read more

Rural banks-Sub-prime debt woes=Better than most

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Guarantees Are Worthless, When the System Is Bankrupt

August 29, 2008 While the Federal Deposit Insurance Corporation (FDIC) has gone to great lengths to assure the public that their bank deposits are safe—at least up to the insured limit—it is obvious that the agency lacks the capital required to back up its claims. As long as the FDIC closes only small banks, it can meet its responsibilities, but it does not have the resources to even begin to deal with the magnitude of the crisis it faces. The same is true of the Federal Reserve, which is running out of room on its balance sheet to continue the escalating bailout process it began last December, and also true of Fannie Mae and Freddie Mac, whose role as a dump for the toxic waste of the banking system means that they will not survive on their own. All of these players, the FDIC, the Fed, Fannie and Freddie, and others like the Federal Home Loan Banks, can always turn to the Federal Government for cash, but the Federal Government itself is operating at a deficit, already borrowing money to meet its spending requirements. Thus, while there is no shortage of guarantees, none of the players actually has the money it needs to satisfy those guarantees, in anything approaching a worst-case scenario.. » read more

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