McCain Blasts Wall Street Failure, Neglects To Mention His Adviser Helped Cause It:
If McCain wants to hold someone accountable for the failure in transparency and accountability that led to the current calamity, he should turn to his good friend and adviser, Phil Gramm.
tinyurl.com/5ocu55

Senior advisor disses McCain on economy:
A senior economic advisor to the Republican Party says neither John McCain nor his running mate is capable of running a large business.
www.presstv.com/detail.aspx?id=69745&sectionid=3510203

Financial turmoil accelerates in Russia:
Russian financial turmoil accelerated Wednesday as trading on the country’s major exchanges was halted for a second day and the finance ministry announced plans to loan the country’s three largest banks up to $44 billion.
tinyurl.com/44u2mj

US government rescues insurer AIG:
AIG will get an $85bn loan, in return for an 80% “public” stake in the firm.
news.bbc.co.uk/2/hi/business/7620127.stm

Rush to cancel AIG policies;
The Singapore office of insurance giant AIG has been besieged by people desperate to cancel their policies.
news.bbc.co.uk/2/hi/south_asia/7621137.stm

Regulators gauging other banks’ interests in WaMu:
Shares of Washington Mutual have plummeted in recent weeks amid continued concerns about mounting losses in the bank’s lending portfolios. In early trading Wednesday, they rose 6 cents, or 2.6 percent, to $2.38.
ap.google.com/article/ALeqM5g0hpF581
O6fDNrN-Es3GXc6ZKUtwD938GJTO0

Is the U.S. going overboard on bailouts?:
Industry and government officials say the handouts are cheaper in the long run than doing nothing. But critics say they encourage bad behavior by removing the consequences.
www.latimes.com/news/la-fi-bailout17-
2008sep17,0,4352836.story?track=ntothtml

Housing starts at 17-1/2-year low:
Construction starts on new homes plunged to a 17-1/2-year low during August as builders scaled back sharply to try to cope with the worst slump in U.S. housing since the Great Depression.
www.reuters.com/article/email/idUSN1225498420080917

U.S. current account trade deficit rises to $183.1 billion:
The U.S. Commerce Department says the current account trade deficit increased by 4.3 per cent to US$183.1 billion in the April-June quarter, compared to a revised deficit of $175.6 billion in the first quarter. The deficit represents the amount of money the country is borrowing from foreigners.
canadianpress.google.com/article/AL
eqM5gXshPdF4zmw7q1pgtdQGUz6xI-UQ

US Federal Reserve announces $85 billion bailout of insurance giant AIG
Posted: 17 Sep 2008 05:55 AM CDT
Bill Van Auken www.wsws.org 17 September 2008 Following emergency consultations between the Federal Reserve, the US Treasury and the Democratic leaders of both houses of Congress, the Federal Reserve on Tuesday night announced a bailout of the Wall Street insurance giant American International Group AIG. According to reports posted by the New York Times and the Wall […]
feeds.feedburner.com/~r/DandelionSalad/~3/395093961/

The U.S. Financial System in Serious Trouble by Prof. Rodrigue Tremblay
Posted: 16 Sep 2008 11:02 PM CDT
Global Research September 16, 2008 “… a bailout of GSE (Fannie and Freddie) bondholders would be perhaps the greatest taxpayer rip-off in American history. It is bad economics and you can be sure it is terrible politics.” Matt Kibbe, President of Freedom Works “The first panacea for a mismanaged nation is […]
feeds.feedburner.com/~r/DandelionSalad/~3/394840085/

Who Is A.I.G. And Why Should You Care? By Mike Ruppert (2001)
Posted: 16 Sep 2008 08:55 PM CDT
An Investigative Series, By Mike Ruppert, 2001 Speaking Truth to Power Tuesday, 16 September 2008 [”It is in our national interest that A.I.G. survive,” says former AIG Chairman, Hank Greenberg. But just who and what is AIG? And why is it important to know? This is Part One of Mike Ruppert’s 2001 investigative series on an […]
feeds.feedburner.com/~r/DandelionSalad/~3/394742927/

The Wall Street Crisis and the Failure of American Capitalism
By Barry Grey
A sea change is unfolding in the US and world economy that portends a catastrophe of dimensions not seen since the Great Depression of the 1930s.
www.informationclearinghouse.info/article20790.htm

Walker’s World: Paulson, American Lenin
by Martin Walker
Beijing (UPI) Sep 17, 2008
The most interesting political feature of the Wall Street crisis is not the effect it will have on what looks to be an extremely close presidential race, but just how much of the U.S. economy the new president will be running.
www.terradaily.com/reports/Walkers_
World_Paulson_American_Lenin_999.html

Hundreds of AIG policyholders throng Asian offices
by Staff Writers
Singapore (AFP) Sept 17, 2008
Hundreds of worried policyholders on Wednesday thronged Asian offices of troubled global insurance giant American International Group (AIG), some hoping to terminate their agreements.
www.terradaily.com/reports/Hundreds_of_
AIG_policyholders_throng_Asian_offices_999.html

Analysis: Germany’s financial crisis
by Stefan Nicola
Berlin (UPI) Sep 17, 2008
Despite official statements of reassurance, Germany’s economy will take a beating because of the U.S. financial crisis.
www.terradaily.com/reports/Analysis
_Germanys_financial_crisis_999.html