Banks to seek secret emergency funding

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The City watchdog has laid out plans to allow banks to tap the Bank of England for emergency funding without informing the market, in a move which might avoid a repeat of the run on the bank which... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
8,500 U.S. banks; many will die soon

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Daily Kos If you look down from a very high level what you see is this: There is $75 trillion in global real estate, $50 trillion in annual global GDP, and $675 trillion in derivatives - synthetic... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
Storm shuts 5 percent of U.S. Gulf oil, gas

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NEW YORK (Reuters) - Tropical Storm Dolly has triggered the shutdown of about 5 percent of crude oil and natural gas production from the Gulf of Mexico, the U.S. Minerals Management Service said... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
Critical financial problems spreading

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The number of companies facing “critical problems” surged by more than a quarter between the first and second quarter of the year as tightening credit conditions continued to bite,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
UK Treasury prepares for major bank failures?

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The Telegraph The Treasury may be planning to raise the limit on public borrowing in an effort to give it “room for manoeuvre” for a potential rescue operation for the banking system, a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
UK subprime mortgage lender is paying customers to leave
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BBC A former sub-prime mortgage lender is offering an 8% discount to its borrowers if they redeem their loans. Edeus, which started up in 2006, is making the cash-back offer to 400 customers and may... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
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Banking system at worst point since 1930’s

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BILL MOYERS JOURNAL Author Bill Greider explains to Moyers that the magic of the “free market” is coming to a close. “This is a really perilous moment.” That’s how one... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
How Salmonella Invest Shifted To Jalapeno

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When officials at the Food and Drug Administration announced they had found salmonella on a Mexican-grown jalapeno pepper, it meant investigators finally had a solid lead on a trail that seemed to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
United Cuts 7,000 Jobs

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UAL Corp.’s United Airlines, the world’s second-largest carrier, said it will cut 7,000 jobs after record fuel costs pushed the company to a quarterly loss of $2.73 billion. UAL’s... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story
Welcome to stagflation, folks

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…auto sales posted their biggest drop in more than two years…General Motors Corp said it would cut labor costs, sell assets and borrow at least $2 billion to bolster finances in the face... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story

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