World-News

Berlusconi Says Leaders May Close World's Markets

By Steve Scherer

Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they "rewrite the rules of international finance.''

http://www.informationclearinghouse.info/article20989.htm



The Sky is Falling on Mexico, Too

By JOHN ROSS

Like the Cassandras of Wall Street today, the bankers cried Armageddon and the president, Zedillo, much as George Bush in the current imbroglio, stampeded congress into a monumental bail-out. FOBAPROA ("Banking Fund for the Protection of Savings") dumped $120 billion USD in bad debt on the backs of Mexican taxpayers, 20% of the nation's gross domestic product - Bush's monstrous bail-out only accounts for 7% of U.S. GDP.

http://www.informationclearinghouse.info/article20991.htm



South Africa central bank warns of poverty from financial crisis

South Africa's central bank governor Tito Mboweni warned Saturday that slowing economic growth linked to the financial crisis risked pushing tens of millions into poverty in Africa.

http://au.biz.yahoo.com/081011/33/1zsk4.html



IMF: World on brink of financial collapse

The global financial system is on the brink of a systemic meltdown despite interventions by the US and Europe to stabilize markets, the head of the International Monetary Fund says.

http://www.stuff.co.nz/4724614a12.html



White House dismisses idea of market suspension

The White House on Friday dismissed suggestions that U.S. markets would be suspended so international financial rules could be rewritten amid the turmoil that has gripped markets for weeks.

http://www.reuters.com/article/newsOne/idUSTRE4996IJ20081010



Lehman Brothers demise triggers huge default

Lehman Brothers, the bust investment bank, triggered one of the biggest corporate debt defaults in history yesterday as it emerged that the US Federal Reserve is harbouring grave concerns about whether Washington's $700 billion (£413 billion) bailout fund will avert a financial meltdown.


http://tinyurl.com/5x86qo



Financial Warfare over future of global bank power

What's clear from the behavior of European financial markets over the past two weeks is that the dramatic stories of financial meltdown and panic are deliberately being used by certain influential factions in and outside the EU to shape the future face of global banking in the wake of the US sub-prime and Asset-Backed Security (ABS) debacle.

http://www.financialsense.com/editorials/engdahl/2008/1009.html


From Information Clearing House



http://freepage.twoday.net/search?q=financial+market
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http://freepage.twoday.net/search?q=Wall+Street
http://freepage.twoday.net/search?q=Federal+Reserve
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http://freepage.twoday.net/search?q=financial+collapse
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