http://lafiga.firedoglake.com/2011/12/06/late-night-we-love-la/
City council votes against civil rights for corporations.
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Carl Murrell
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Mietek Pemper, 91, Camp Inmate Who Compiled Schindler’s List
“Mietek Pemper, 91, Camp Inmate Who Compiled Schindler’s List - http://nyti.ms/mwFSE9”Heroism comes in many forms. Again it is satisfying.The War-crimes law is terrible precedent.Civil law is more than sufficient to deal with human monsters.I am unfamiliar with military law. I should change that.http://en.wikipedia.org/wiki/Military_law#United_Stateshttp://en.wikipedia.org/wiki/Uniform_Code_of_Military_Justicehttp://en.wikipedia.org/wiki/Occupied_territoryhttp://en.wikipedia.org/wiki/Occupied_territory#International_Court_of_Justice_OpinionI believe there is a peace treaty with Jordan in existence.The Palestinians haven't a leg to stand on if Israel annexes the area.
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walterrhett
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Bank Said No? Hedge Funds Fill a Void in Lending
“Bank Said No? Hedge Funds Fill a Void in #Lending - http://nyti.ms/jMVYJX #banks #fraud #crisis #wallstreet”"But the lending force also poses a significant risk to the companies and the broader economy, given the unregulated nature of this shadow banking system."Loan Sharks.If I can I want to start without debt.
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Karen
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Does IMF Stand for Impressive Macroeconomic Flexibility?
So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.
No big news today.The Times held a panel discussion on economics live this evening.I expect there will be a video on the seventh.Paul Krugman said the ECB has less than a week to save the euro.
The Telegraph:RWE capital call falls short after S&P warning
German power giant RWE failed to raise its targeted €2.5bn (£2.15bn) from shareholders after Standard & Poor's warning about cutting eurozone credit ratings – including Germany's – played havoc with its funding plans.
07 Dec 2011| CommentLehman set to exit bankruptcy
Lehman Brothers, whose collapse became a defining moment of the financial crisis, has won court approval to exit the biggest bankruptcy in US history.
06 Dec 2011| 2 CommentsGreek coalition government passes tough austerity budget
Greece's new coalition government has secured enough votes to pass an austerity budget setting tough deficit goals.
06 Dec 2011| 3 CommentsAngela Merkel must heed her home truths
Jean-Claude Juncker, the Luxembourg prime minister, is typical of European politicians in denial about what's happening to their currency and countries.
06 Dec 2011Ratings agencies are not the root of all evil
Standard & Poor's caused a stir with its downgrade threat, but the ratings agency was just telling the truth, writes Alistair Osborne.
06 Dec 2011| 67 CommentsEurozone leaders insist that rescue 'will survive downgrade'
Eurozone leaders have insisted their rescue plans for the single currency are on track despite a furious row over S&P's actions that threatened to de-rail their efforts and drive a deep wedge between Europe and America.
06 Dec 2011| 19 CommentsCameron: 'I will defend British interests in any treaty change'
The Prime Minister says he will not sign any treaty amendment that does not safeguard British interests.
06 Dec 2011Eurozone debt crisis: Cameron threatens to veto EU treaty
Prime Minister threatens to veto a far-reaching deal to save the euro unless he wins safeguards for the City of London and the European single market.
06 Dec 2011| 444 CommentsDebt crisis: as it happened December 6
The eurozone's EFSF bailout fund may have its AAA rating cut if S&P downgrades the sovereign debt of the nations backing it, making it even harder to get the firepower to back indebted nations.
06 Dec 2011| 1100 CommentsBank of France debts jump tenfold on capital flight
The Bank of France faces surging debts to Germany's Bundesbank and fellow central banks in the EMU system as foreign investors pull large sums out of French accounts.
06 Dec 2011| 184 CommentsChancellor's fiscal mandate not in long-term interest
The Chancellor's fiscal mandate does not protect Britain's long-term economic interests and allows him to avoid following through on unpopular policies because the target is not binding, the chairman of the Government's fiscal watchdog has conceded.
06 Dec 2011| 1 CommentLet it snow, let it snow
Telegraph View: Treasury forecaster Sir Stephen Nickell believes that a pre-Christmas white-out will help to keep us out of recession.
06 Dec 2011Arrogance of eurozone elites could kill the EU
We face a democratic crisis unless EU reforms have popular consent, argues Jack Straw.
06 Dec 2011Northern Rock 'bad bank' to close Newcastle office
Northern Rock's "bad bank" is to sever its ties with the failed lender's home city of Newcastle and relocate all its staff to sites in nearby towns.
06 Dec 2011| CommentBank of England takes new steps to prevent credit crunch
The Bank of England has taken measures to protect Britain's banks against another credit crunch by offering them access to a new supply of emergency sterling funding.
06 Dec 2011| 29 CommentsBofA agrees $315m settlement with Mississippi pension fund
Bank of America will pay $315m (202m pounds) to settle allegations that Mississippi's state pension fund was misled when it bought mortgage-backed bonds in the two years before the financial crisis.
06 Dec 2011| CommentS&P puts EFSF bailout fund on review for downgrade
Standard & Poor's has warned that it could downgrade the AAA rating of the eurozone debt rescue fund, a day after nearly all governments of the monetary union were given a similar notice.
06 Dec 2011| 7 CommentsThe Muppets film 'brainwashing children'
The Muppets film has been branded an attempt by liberal Hollywood to brainwash children against the rich.
06 Dec 2011| 308 CommentsA short history of Standard & Poor’s: Q&A
Standard & Poor's has become one of the world's most powerful companies, yet it began as a simple compendium of railway company financial statistics.
06 Dec 2011| 1 CommentCrude oil price puzzle
Top stories: S&P ratings, Retailers, Wolseley progress and energy.
06 Dec 2011| 2 CommentsEurozone economy barely grew in third quarter
The eurozone economy hardly grew in the third quarter, the EU said on Tuesday, with collapsing business confidence and slowing industry pointing to a recession and giving the European Central Bank grounds for an interest rate cut this week.
06 Dec 2011| 5 CommentsIreland to unveil tax rises
Ireland will outline its tax plans on Tuesday, including an increase in value added tax, as part of its budget plans to reduce its debts.
06 Dec 2011| 6 CommentsA fund of information for PM and Chancellor
Veteran fund manager Patrick Evershed was back in court yesterday - well a tribunal.
06 Dec 2011| CommentAustralia cuts rates and warns on eurozone debt crisis
Australian has cut interest rates for the second month in a row, but warned the eurozone debt crisis continued to threaten the global economy.
06 Dec 2011| 1 Commenthttp://www.calculatedriskblog.com/
Last 20 Posts
- Dec 06 at 9:47 PM Mortgage Settlement Update: California and Nevada join forces
- Dec 06 at 5:49 PM Lawler on "Real Estate Investors, the Leverage Cycle, and the Housing Crisis"
- Dec 06 at 3:04 PM Financial Times: EU negotiators prepare "Bazooka"
- Dec 06 at 1:38 PM Fed Chairman responds to "inaccurate" Bloomberg article
- Dec 06 at 10:29 AM CoreLogic: House Price Index declined 1.3% in October
- Dec 06 at 8:58 AM Existing Home Inventory declines 17.5% year-over-year in early December
http://www.calculatedriskblog.com/2011/12/financial-times-eu-negotiators-prepare.htmlNot in time.http://www.guardian.co.uk/business/debt-crisisMost recent
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7 Dec 2011: PM says he will not sign any revised treaty that fails to provide safeguards for Britain's financial services - 6 Dec 2011: Plan to drive down Irish debt to 8.6% of GDP in budget linked to multibillion euro bailout
- 6 Dec 2011: Pundits talk of France becoming a bit more German – balancing their budgets for the first time in 35 years – but not too German
- 6 Dec 2011: Greece aims to cut its budget deficit to 6.7% from more than 9% by 2012 saving €11bn
- 6 Dec 2011: Editorial: These proposals do not tackle the roots of Europe's problems – they only slap a big plaster over them 24 comments
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6 Dec 2011: Prime minister warns he will block any revision of the Lisbon treaty that does not safeguard Britain's financial services
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Audio (20min 29sec), 6 Dec 2011: Philip Coggan, a historian of debt crises, discusses the current turmoil in Europe and explores the nature of money itself and our changing attitudes to it
3 comments - 6 Dec 2011: Confidential paper, circulated by European council president Herman Van Rompuy and seen by the Guardian, proposes empowering the commission to impose austerity measures 291 comments
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6 Dec 2011: Collection of recipes and survival tips such as saving crumbs in a jar is a surprise hit as country struggles to make ends meet -
Interactive, 6 Dec 2011: Standard & Poor's warned on Monday that 15 eurozone nations could have their credit ratings downgraded because of the current crisis, with a final decision due sometime after Friday's summit. Here are the current standings for the major European countries
- 6 Dec 2011: New GDP figures show it edging up across Europe. But how do different countries compare - and are we recovering yet?
Post your comment -
6 Dec 2011: Michael White: Political and economic instability combined with rising social and economic inequality means a potentially fearful future for all of us
8 comments - 6 Dec 2011: PM will stop short of demanding repatriation of powers from Brussels but stresses main aim is to protect British interests
- 6 Dec 2011: Merkel and Sarkozy spark relief in markets after agreeing package of measures to take to EU summit
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6 Dec 2011: Move prompts concerns about the impact on eurozone's planned bailout fund, which relies on solid ratings
http://www.zerohedge.com/The buzzards are circling.Goldman: A Clean Resolution From Friday's Summit Is Now Ruled Out; Outcome To Fall Short Of Market Expectations
Submitted by Tyler Durden on 12/06/2011 - 23:31 Budget Deficit European Central Bank Fail International Monetary Fund Sovereign Debt The schizophrenia continues, this time as Goldman lays out the "Failure Frday" hypothesis in an attempt to incite some waterfalling risk off-taking, leading to escalating interventions by domestic governments (all of which captured just for this eventuality) and culmiating with the unleashing of the puppet head of the ECB, but not before GS has had the opportunity to sequester some assets on the cheap. We have rehashed this outlook so many times we won't repeat it again, suffice to say: those who want to know what happens, need merely to look at what happened in 2008, and who ended up gaining the most. In the meantime, this is what Goldman expects of the "summit to end all summits" - "Our bottom line is the following: the ‘clean’ solutions that would have seen clear resolution of that impasse appear to have been ruled out following Monday’s German/French meeting. That makes something altogether fuzzier likely to emerge from Friday, and this risks falling short of market expectations. The sequencing that we believe is being followed will be delayed further into the new year." Said otherwise - yet another failure. Which confirms that the Christmas rally over the past week has been nothing but. And all such "career risk" mitigation exercises in lemmingry, end in the same way: with someone defecting first.
UBS' Advice On What To Buy In Case Of Eurozone Breakup: "Precious Metals, Tinned Goods And Small Calibre Weapons"
Submitted by Tyler Durden on 12/06/2011 - 22:36 Bond Borrowing Costs Central Banks Creditors default Deutsche Bank Eurozone Fail Greece Gross Domestic Product Hank Paulson Hank Paulson Napoleon Nationalism Precious Metals Purchasing Power Recession Risk Management Stress Test Three months ago, Zero Hedge presented the first of many narratives that started the thread of explaining the "unmitigated disaster" that would ensue should the Euro break up, which in the words of authors Stephane Deo and Larry Hatheway, would leads to such mutually assured destruction outcomes as complete bank failure and/or civil war or far worse. Because if there is one thing the banks have learned in the aftermath of Hank Paulson, is that scaremongering when bonuses are at stake is the only to get taxpayer money to fund exorbitant lifestyles.,, Today, Larry Hataway has released yet another sequel to the original piece, focusing on this so very critical week for Europe, which as Olli Rehn said, must find a solution by Friday or see the EU "disintegrate", in which the vivid imagery, loud warnings and level of destruction are even greater than before. In other words, Europe has 4 more days, something which S&P tried it best to remind Europe of, as the alternative is "or else." And here comes UBS to remind everyone that anything but a "fix" to a system that was broken from the very beginning, would be a catastrophe, captured probably the best in Hatheway's recommendations of assets to be bought as a hedge to a Euro collapse: "I suppose there might be some assets worthy of consideration—precious metals, for example. But other metals would make wise investments, too. Among them tinned goods and small calibre weapons." But even that is nothing compared to the kicker: "Break-up runs the risk of becoming one wretched scenario. Sadly, however, it can’t be ruled out, just as it would have been improper to rule out the horrors of the first half of the 20th century before they happened." And there you have it: a reversion by Europe to the perfectly stable system from a decade ago, is now somehow supposed to result in World War. And with that the global banking cartel has official jumped the shark, just like the FT's latest rumor earlier today did the same by indicating that the well of European "bailout" ideas has officially run dry
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Elizabeth Fuller
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Friends With Benefits
It looks like Goldman will do well with the euro.Facebook May do an IPO but they are doing fine without one.Their acquisitiveness will yet do them in.
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Tom McMahon
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Bank Said No? Hedge Funds Fill a Void in Lending
“Bank Said No? Hedge Funds Fill a Void in #Lending - http://nyti.ms/jMVYJX #banks #fraud #crisis #wallstreet”This was called "Loan Sharking". I will not deal with them willingly.I will not point it out to friends.
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Myrell
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Scholars Return to ‘Culture of Poverty’ Ideas
“Scholars Return to ‘Culture of Poverty’ Ideas - http://nyti.ms/bjH3HF”
Racism has poisoned this brew. I believe that race is independent of poverty though closely linked to culture. We can thus have a white culture of poverty and a black culture of poverty along with the Mexican culture of poverty that gave rise to the term.- 6 Dec 2011: Collection of recipes and survival tips such as saving crumbs in a jar is a surprise hit as country struggles to make ends meet
http://www.guardian.co.uk/world/2011/dec/06/belt-tightening-greeks-starvation-cookbook"Opting for cheap processed foods is the biggest mistake budget-conscious consumers can make, said chef FT Bletsas, the youthful host of the Greek TV show Mama's Cooking.
"Most people spend more than they need to, and still eat badly," said Bletsas, who runs the English-language cooking website spun out of a 2010 book on frugal dining.
Bletsas, 31, honed his thrift techniques while living in Britain as an engineering student, and later adapted his modest menus to Greece's renowned Mediterranean diet.
His top picks for strapped shoppers include olive oil, tinned sardines, lentils, and good quality meat used sparingly.
He has simple advice for Greeks labouring under the crisis.
"Never, ever throw anything away: You can preserve it, freeze, cook it, reuse it, or give it to someone who needs it more than you.""
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David Henderson
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Mietek Pemper, 91, Camp Inmate Who Compiled Schindler’s List
“Mietek Pemper, 91, Camp Inmate Who Compiled Schindler’s List - http://nyti.ms/mwFSE9”Live Hero. Dead at 91. Natural causes.http://en.wikipedia.org/wiki/War_crimeshttp://en.wikipedia.org/wiki/Nuremberg_PrinciplesIt looks like W is headed for the Hague.
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NadTamDC
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Equality, a True Soul Food
““a sad soul can kill you quicker, far quicker, than a germ.” - http://nyti.ms/hFUdC3 #fb”Yes. And debt that becomes unaffordableis a fast way to a sad soul.
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Kit Bigelow
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Planning the Perfect Vacation
“Planning the Perfect Vacation - http://nyti.ms/nbYdzx #travel”Better communications help. Before the fact if possible. Pictures?
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