National debt seen heading for crisis level

How Washington Abetted the Bank Job

The collapse of Enron back in 2001 revealed that the biggest financial institutions, here and abroad, were busy creating products whose sole purpose was to help companies magically transform their debt into capital or revenue.

http://www.nytimes.com/2010/04/04/opinion/04koniak.html?emc=eta1



National debt seen heading for crisis level

With ferocious speed, the financial crisis, recession and efforts to combat the recession have swung the U.S. debt from worrisome to ruinous, promising to handcuff the administration.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/04/04/MNI21COVR1.DTL



Foreclosures' coming wave: Commercial properties

As home foreclosures continue to mount throughout Central Florida, code-enforcement officers say apartments, condominiums and other commercial buildings are being abandoned by their owners and repossessed by banks in growing numbers.

http://snipurl.com/va0ck



Sovereign debt crisis at 'boiling point', warns Bank for International Settlements

Sovereign debt is already starting to cross the danger threshold in the United States, Japan, Britain, and most of Western Europe, threatening to set off a bond crisis at the heart of the global economy.

http://snipurl.com/vew1a


From Information Clearing House

--------

Break Up the Banks

Robert Reich: "A fight is brewing in Washington - or, at the least, it ought to be brewing - over whether to put limits on the size of financial entities in order that none becomes 'too big to fail' in a future financial crisis."

http://www.truthout.org/robert-reich-break-up-banks58317

--------

The current financial crisis — and after

Ludwig von Mises Institute
by Kevin Dowd

04/09/10

The bad news is that the authorities badly botched it, at massive cost to us all — except to the bankers, of course, who are laughing all the way to what is left of our banks. And we are not out of the woods yet, by any means, and the authorities’ responses to the crisis are already sowing the seeds of a new, probably worse crisis down the road. That is pretty bad, to be sure, but that’s only a preamble to the very bad news...

http://mises.org/daily/4218


Informant: Thomas L. Knapp



http://freepage.twoday.net/search?q=financial+crisis
http://freepage.twoday.net/search?q=recession
http://freepage.twoday.net/search?q=debt
http://freepage.twoday.net/search?q=financial+institution
http://freepage.twoday.net/search?q=Big+Banks
http://freepage.twoday.net/search?q=foreclosure
http://freepage.twoday.net/search?q=bond+crisis
http://freepage.twoday.net/search?q=Enron
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