WikiLeaks’ Wall Street Bombshell
Posted in Main Blog (All Posts) on December 7th, 2010 5:31 am by HL
WikiLeaks’ Wall Street Bombshell
Charles Gasparino, The Daily Beast
With Assange's next release apparently targeting Bank of America, traders fear a subprime lending scandal will be exposed. Charlie Gasparino talks with someone who has read the leaked files.WikiLeaks founder Julian Assange has declared Bank of America his next target, and despite official statements declaring they have “no indication” of an imminent attack, the bank is taking this threat very seriously, and has responded, according to several insiders, by convening a “legal SWAT team,” ready to respond the very minute documents are made public.
Democrats Aim For 100 Bills in One Fell Swoop
Bernanke: Unemployment a Major Concern
Scott Pelley, 60 Minutes
Friday's unemployment number was a troubling surprise -up from 9.6 percent to 9.8 percent. The economists who decide such things say the recession ended in 2009.But this is the worst recovery the nation has ever seen. Ben Bernanke is concerned. As chairman of the Federal Reserve, Bernanke has enormous power over the world economy. And he has used that power in ways that the world has never seen.
Why Do We Have a Central Bank?
Gerald O’Driscoll, Cato Institute
Why do nations have central banks? Countries have developed without one, and sophisticated financial systems have evolved in their absence. Some countries with a central bank have suffered for having one. Zimbabwe comes to mind.The Federal Reserve System was created by an act of Congress only in 1913. It then presided over a great wartime inflation followed by a major depression in 1920-21. The 1920s were an era of prosperity, due as much to Treasury Secretary Andrew Mellon's wise fiscal policies as anything the Fed did. The Fed's performance in the Great Depression was disastrous,…
