Crisis hits home to threaten the Halifax
The Times
Sep 17, 2008
http://business.timesonline.co.uk/tol/business/industry_sectors/
banking_and_finance/article4770075.ece
The crisis engulfing the world’s financial markets moved closer to home yesterday when Britain’s biggest savings group was hit by a selling stampede.
Regulators and HBOS itself, which owns Halifax and Bank of Scotland, rushed out statements to reassure its 15 million savers and stave off the unthinkable - a flood of customers trying to withdraw their money.
In America, the insurance giant AIG, which sponsors Manchester United, was teetering on the brink. David Paterson, the New York Governor, who is coordinating the rescue effort, gave warning that AIG had just one day left to resolve its financial problems before triggering "catastrophe". A collapse of AIG would plunge the credit crisis to new depths, since every leading bank has exposure to it.
One banker in London said: "Today is the day of fear and capitulation. It could be the bottom [of the crisis], but only if AIG gets saved. If not, then there’s going to be anarchy."
George Soros, the hedge fund supremo, said: "I’m afraid we’re not through the worst of it at all - in some ways we’re heading into the storm, rather than coming out of it."
Internet Censorship Alert
Internet Censorship Alert: Alex Jones exposes agenda to 'blacklist' dissenting sites (March 14, 2010)
As I predicted, the Obama Administration is trying to shut down the Internet - at least the parts he doesn't like. Barack Obamas regulatory czar, Cass Sunstein has stated that he wants to ban conspiracy theories from the internet. Think about what this means - Every video, every website, every blog, every email, that exposes or just criticizes the government for any reason whatsoever could be labeled a "conspiracy" and taken down. Your home could be raided in the middle of the night, and you could be carted of to jail for criticizing the government. All they have to do is call it a "conspiracy theory".
http://www.youtube.com/watch?v=aqAWmBLFodE
Showing posts with label worse to come. Show all posts
Showing posts with label worse to come. Show all posts
Friday, September 19, 2008
Thursday, September 18, 2008
North American stocks sink after government bailout of AIG; gold soars
North American stocks sink after government bailout of AIG; gold soars
The Canadian Press
Sep 17, 2008
http://canadianpress.google.com/article/
ALeqM5iqjpYnIbDQLZ3CtmrlqMNNGJZ8dQ
Market observers said investors are frightened by the scope of the financial troubles on Wall Street and are getting out of the market because they fear the worst. Concern is also growing that troubles in the financial sector could worsen problems facing the weak U.S. economy as credit for consumers and businesses dries up.
While investors abandoned stocks Wednesday, they bought gold as a hedge against rising risk. That pushed up the price of the December bullion contract by US$66.70 to $847 on commodities markets.
Investors may be worried about higher inflation resulting from the expensive government aid to the financial sector, which also includes $200 billion to bail out failed mortgage companies Fannie Mae and Freddie Mac.
The Canadian Press
Sep 17, 2008
http://canadianpress.google.com/article/
ALeqM5iqjpYnIbDQLZ3CtmrlqMNNGJZ8dQ
Market observers said investors are frightened by the scope of the financial troubles on Wall Street and are getting out of the market because they fear the worst. Concern is also growing that troubles in the financial sector could worsen problems facing the weak U.S. economy as credit for consumers and businesses dries up.
While investors abandoned stocks Wednesday, they bought gold as a hedge against rising risk. That pushed up the price of the December bullion contract by US$66.70 to $847 on commodities markets.
Investors may be worried about higher inflation resulting from the expensive government aid to the financial sector, which also includes $200 billion to bail out failed mortgage companies Fannie Mae and Freddie Mac.
Labels:
AIG,
bailout,
financial troubles,
gold,
hedge,
inflation,
US economy,
worse to come
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