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Bank of America Caught Funding Mexican Drug Smugglers AND GET AWAY WITH IT!
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Stressed banks borrow record amount from Fed
July 31, 2008
Banks borrowed a record amount of funds from the Federal Reserve in the latest week as the year old credit crisis took a persistent toll, while the commercial paper market continued to contract, signaling tough conditions for short term borrowers.
Banks’ primary credit borrowings averaged $17.45 billion per day in the latest week, the second straight week this had hit a record and up from $16.38 billion the previous week, Fed data showed on Thursday.
Zimbabwe Devalues Currency
July 30, 2008
Zimbabwe will drop 10 zeros from its hyper-inflated currency — turning 10 billion dollars into one — the country’s reserve bank said Wednesday. President Robert Mugabe threatened a state of emergency if businesses profiteer from the country’s economic and political unraveling.
Shop shelves are empty and there are chronic shortages of everything including medication, food, fuel, power and water. Eighty percent of the work force is unemployed and many who do have jobs don’t earn enough to pay for bus fare.
Inverview with George Green – (7/16/2008)
Soaring energy bills set to push inflation to 16-year high
GM Has $15.5 Billion Loss on U.S. Sales Drop, Leases
Venezuela to Nationalize Spanish Bank
IndyMAC Files For Bankruptcy Protection
Jobless Claims Up Highest In Five Years
Inflation Could Hit 6% By Fall?
Deutsche Bank Writedowns Exceed $11 Billion
Shell reports 33% rise in profit
Exxon posts record $11.68 billion profit
Britons Skipping Meals Due To Money Worries