World Faces "Total" Financial Meltdown: Bank of Spain Chief

By AFP

The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a "total" financial meltdown unseen since the Great Depression.

//www.informationclearinghouse.info/article21518.htm



With Economy in Shambles, Congress Gets a Raise

By Jordy Yager

A crumbling economy, more than 2 million constituents who have lost their jobs this year, and congressional demands of CEOs to work for free did not convince lawmakers to freeze their own pay.

//www.informationclearinghouse.info/article21508.htm



New Report: Worldwide Bankruptcy Wave About to Hit

Europe and the U.S. are about to experience a significant increase in business failures. That's the conclusion reached by Paris-based Euler Hermes, the world's largest credit insurer, in a recently released 57-page report on business insolvencies worldwide.

//tinyurl.com/4uh453



UK: Bailiffs get power to use force on debtors

The government has been accused of trampling on individual liberties by proposing wide-ranging new powers for bailiffs to break into homes and to use "reasonable force" against householders who try to protect their valuables.

//www.timesonline.co.uk/tol/news/politics/article5375668.ece


From Information Clearing House

--------

Official Says California Could Be Broke in Two Months

Judy Lin, The Associated Press: "California's chief financial officer warned Monday that the state would run out of money in about two months as hopes of a Christmas budget compromise melted into political finger-pointing by the end of the day."

//www.truthout.org/122308A




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