Volcker praised its analysis of the critical role of Bank Board Chairman Gray’s leadership in reregulating and resupervising the industry:
Bill Black has detailed an alarming story about financial - and political - corruption. The specifics go back twenty years, but the lessons are as fresh as the morning newspaper. One of those lessons really sticks out: one brave man with a conscience could stand up for us all.
Don't you believe it, says William Black, an Associate Professor of Economics and Law at the University of Missouri - Kansas City.
The professor and former financial regulator foresees another wave of foreclosures and future bank losses of more than $2.5 trillion vs. the government's $599 billion estimate.
• Fannie and Freddie: In July 2008, Treasury Secretary Paulson testified that Fannie and Freddie were "adequately capitalized" under the test. In August 2008: "even in [Freddie's] most severe stress tests, [show] losses ... less than $5 billion." Actual losses: 20 to 40 times greater.
• AIG: "It is hard for us, without being flippant, to even see a scenario within any kind of realm of reason that would see us losing one dollar in any of those [CDS] transactions." AIG claimed in 2008 "Using a severe stress test ... losses could go as high as $900 million."
Actual losses: 200 times greater.
• IndyMac: Sold over $200 billion of "liar's loans." Actual losses: 160 times greater than its tests.http://fms.treas.gov/webservices/show/? ... 042800.txt
Department of the Treasury
Financial Management Service
STATUS REPORT OF U.S. TREASURY-OWNED GOLD
April 30, 2009
Total - Federal Reserve Bank-Held Gold 13,452,783.620 568,006,120.59
Total - Treasury-Owned Gold fine troy oz. 261,498,899.316 $11,041,058,821.09
Deep Storage: Deep-Storage gold is the portion of the U.S. government-owned Gold Bullion Reserve that the U.S. Mint secures in sealed vaults, which are examined annually by the Department of Treasury's Office of the Inspector General. Deep-Storage gold comprises the vast majority of the Reserve and consists primarily of gold bars. This portion was formerly called "Bullion Reserve" or "Custodial Gold Bullion Reserve."
Working Stock: Working-Stock gold is the portion of the U.S. government-owned Gold Bullion Reserve that the U.S. Mint uses as the raw material for minting congressionally authorized coins. Working-Stock gold comprises only about 1 percent of the Reserve and consists of bars, blanks, unsold coins, and condemned coins. This portion was formerly listed as individual coins and blanks or called "PEF Gold."
April 2009 Bureau of the Public Debt Debt Accounting Branch Congressional Budget Report
Monthly Interest on the Public Debt
Government is the problem.
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 10 May 2009 at 12:32:00 AM GMT is:
The Debt to the Penny and Who Holds It
( Debt Held by the Public vs. Intragovernmental Holdings )
Current Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
05/07/2009 6,955,434,473,527.65 4,300,832,166,522.55 11,256,266,640,050.20
Debt to Gold price value
11,041,058,821.09 : 11,256,266,640,050.20
asset to future labor claims curio
======================================================================http://zerohedge.blogspot.com/2009/05/w ... lease.html
======================================================================http://www.wethepeoplefoundation.org/PR ... 5-8-09.pdf
"The point is you will not break protocol. It was conveyed off the record if you drive it in the ditch keep walking since you
no longer work here. The old performance metric do not apply.
As conveyed we had a instance and friday he was walked out...
Be carefull out there...
Closures of plants are also being considered--and in some cases, like that of bankrupt petrochemical behemoth LyondellBassel, have been implemented--but these can be difficult to execute given the integration of many petrochemical complexes with refineries. In Europe, companies are faced with the additional challenge of labor laws that make reducing their workforces nearly impossible.