The banks are too powerful and they are ruining the rescue plan

Black Money

As the global financial downturn continues and pressure for profits increases on corporations across the world, a small group of lawyers in the U.S. Justice Department is pursuing an aggressive crackdown against an international business tactic -- bribery -- which the World Bank says amounts to as much as a trillion dollars a year in payments.

http://www.pbs.org/wgbh/pages/frontline/blackmoney/etc/synopsis.html



Fed sees economy sliding further

Federal Reserve policy-makers, faced with bleaker forecasts for a rapidly worsening recession, decided to buy a "substantial" amount of U.S. Treasury and mortgage debt to halt the slide, minutes of their most recent meeting showed on Wednesday.

http://www.reuters.com/article/topNews/idUSTRE5377PR20090408



Moody's Downgrades The Whole Country

For the first time ever, the ratings agency placed all munis on negative outlook, a precursor to potential downgrades. Historically, the agency looked at munis individually and considered them to be too diverse to make blanket statements about.

http://www.businessinsider.com/moodys-puts-all-munis-on-negative-outlook-2009-4



The banks are too powerful and they are ruining the rescue plan

Recent events have made me pessimistic that America's latest bank rescue plan will work. Worse, it is the disastrous banks themselves that are being allowed to wreck any efforts to resurrect the global economy.

http://snipurl.com/fl8jv


From Information Clearing House



http://freepage.twoday.net/search?q=financial+downturn
http://freepage.twoday.net/search?q=global+economy
http://freepage.twoday.net/search?q=Federal+Reserve
http://freepage.twoday.net/search?q=Treasury
http://freepage.twoday.net/search?q=recession
http://freepage.twoday.net/search?q=mortgage

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