The federal rescue of the nation's financial industry has perplexed the average taxpayer, who cannot find out how the money has been spent or see how it's helping anyone in the neighborhood. ...more

January 20, 2009

Abolish Federal Reserve Act The Federal Reserve refers to the rate at which private banks borrow money from each other or from the Federal Reserve in order to meet their reserve requirements for making loans, set 10 cents in reserve for every dollar they loan. By lowering the rate to zero, the Feds are essentially handing out free money to bankers, saying: Take this bag of cash. Use it for loans or whatever you want, it doesn't matter what interest rate you charge; you're guaranteed a profit. The Feds are only interested in ensuring the future of the current system of debt - and the profits of its fellow private bankers. ...more

January 14, 2009

We in the press deserve some blame for not warning loudly enough early enough that the fast-moving housing market was circling the drain. ...more

November 1, 2008

In France, President Nicolas Sarkozy has loudly proclaimed the need to increase regulation and oversight of financial markets, vowing last week to "refound the global financial system" as part of "an intellectual and moral revolution." ...more

October 27, 2008

Wall Street fluctuated today as investors reacted enthusiastically to the U.S. government's plans to spend $250 billion to buy stock in private banks but also collected profits from the previous day's massive advance. The Dow Jones industrial average shifted between modest losses and gains a day after its record 936-point jump. ...more

October 14, 2008

Joe Lents hasn't made a payment on his $1.5 million mortgage since 2002. That's when Washington Mutual Inc. first tried to foreclose on his home in Boca Raton. The Seattle-based lender failed to prove that it owned Lents' mortgage note and dropped attempts to take his house. Subsequent efforts to foreclose have stalled because no one has produced the paperwork. ...more

February 22, 2008