"A prudent man forseeth the evil, and hideth himself: but the simple pass on, and are punished."   Proverbs 22:3 and Proverbs 27:12  KJV   Word study on this verse

France's Sarkozy battles fallout from financial crisis afp.google.com 9/30/8 ["France will host a meeting of European officials to prepare a summit "in the coming weeks to establish the basis of a new international financial system," said Sarkozy, whose country holds the presidency of the European Union."]
New York's 15-Foot No Speech Abortion Bubble Zone Bill Denounced as "Unconstitutional" lifesitenews.com 9/30/8 ["Besides making it illegal to "follow and harass" anyone within a fifteen foot area around abortion facilities, the bill would also allow prosecutors to bring charges without having to prove that defendants had the intention of preventing a woman from obtaining an abortion."]
Fed Pumps Further $630 Billion Into Financial System bloomberg.com 9/30/8 ["...an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.  The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities. "]
Citigroup to acquire Wachovia's banking operations iht.com 9/30/8 ["U.S. government regulators worked around the clock over the weekend to orchestrate the sale, finally reaching an agreement at 4 a.m. Monday. In the end, the government agreed to provide Citigroup with a financial guarantee on Wachovia's most risky assets. It is similar to the deal that the Federal Reserve established with JPMorgan Chase's emergency takeover of Bear Stearns."]
Citigroup Inc. to Acquire Banking Operations of Wachovia fdic.gov 9/30/8 ["All depositors are fully protected and there is expected to be no cost to the Deposit Insurance Fund. Wachovia did not fail; rather, it is to be acquired by Citigroup Inc. on an open bank basis with assistance from the FDIC."]
Stocks, Oil Plunge After Congress Rejects Bailout; Bonds Rise bloomberg.com 9/30/8 ["U.S. stocks lost $1.2 trillion in market value, oil plunged and Treasury bonds rallied after lawmakers rejected the Bush administration's $700 billion financial rescue."]
Moody's says may cut National City ratings reuters.com 9/30/8 ["on review for a possible downgrade on concerns about the bank's exposure to real estate.  Moody's rates the bank's senior debt at A3, three notches above speculative, or 'junk' grade."]
Financial Crisis Shock Waves Reach Municipalities businessweek.com 9/30/8 ["One prime example of this problem is Jefferson County, Ala., where the state's largest city, Birmingham, is located. The county is now saddled with $3.2 billion in debt from sewer upgrades and finds itself on the brink of becoming the largest municipal bankruptcy in U.S. history."]
Bank of Japan pumps emergency funds into money market afp.google.com 9/30/8 ["19.2 billion dollars"]
Gov. Blunt Statement on Obama Campaign’s Abusive Use of Missouri Law Enforcement governor.mo.gov 9/30/8 ["“Barack Obama needs to grow up. Leftist blogs and others in the press constantly say false things about me and my family. Usually, we ignore false and scurrilous accusations because the purveyors have no credibility. When necessary, we refute them. Enlisting Missouri law enforcement to intimidate people and kill free debate is reminiscent of the Sedition Acts - not a free society.”"]
Italian TV to broadcast Bible reading iht.com 9/30/8 ["On Sunday, Pope Benedict XVI will read the opening verses of the Book of Genesis.  ...A handful of Eastern Orthodox Christian and Muslim readers will also take part. "I think this can be a positive sign, an opportunity to begin a new kind of dialogue through the scriptures to get to know each other better," said Adnane Mokrani, a Muslim professor..."  Editor: Ecumenical]
Planned Parenthood Accused of Overcharging Govt by Millions, Probe Sought lifenews.com 9/30/8 ["The call for an investigation comes after Planned Parenthood affiliates in California were accused of overcharging the state by millions for birth control.  ...overcharged California taxpayers for purchasing birth control by at least $180 million."]
US eases visa rules for HIV-positive visitors afp.google.com 9/30/8 ["President George W. Bush signed legislation in July which removed HIV from a list of diseases "of public health significance" that effectively barred any person infected with the virus that causes AIDS from entering the United States."]
 

Benelux governments rescue Fortis to avert U.S. contagion reuters.com 9/29/8 ["Benelux financial group Fortis underwent a shotgun nationalization on Sunday after emergency talks with European Central Bank President Jean-Claude Trichet to prevent U.S.-style financial contagion engulfing one of Europe's top 20 banks."]
$700B rescue plan finalized; House to vote Monday ap.google.com 9/29/8 ["A House vote is planned for Monday. Senators are to follow later this week."]
Santander to buy B&B savings as nationalisation looms afp.google.com 9/29/8 ["Media reports suggest that the bank's loans, worth 50 billion pounds and including 41 billion pounds of mortgages, would then be nationalised.  Chancellor Alistair Darling is expected to make a statement before the markets open later Monday.  The move would see B&B become the latest casualty of the global financial crisis that has forced governments worldwide to step in."]
Visa Unveils Massive Mobile Payment Plans pcmag.com 9/29/8 ["The world's largest credit-card organization said a partnership with Nokia would allow consumers to make payments with next year's Nokia 6212 Classic and other next-generation Nokia phones. ...Visa also said that it would launch a trial with U.S. Bank and up to 6,000 cardholders to allow secure funds transfers to other Visa cardholders via mobile phones and PDAs.  ...The Nokia-Visa partnership is centered around phones that contain Near-Field Communications chips, essentially a wireless smartcard that can only operate at ranges of about four inches."]
Jews and Muslims share holy season in Jerusalem iht.com 9/29/8 ["These are the days of the Jewish month of Elul, leading up to Rosh Hashana and Yom Kippur,  ...Coincidentally — the Muslim calendar shifts every year — it is also Ramadan, the month when the faithful believe that God gave the Koran to the Prophet Muhammad..."]
Gov't. Bails Out Some Companies, Handicaps Others & Sacrifices Freedom newswithviews.com 9/29/8 [By Dr. Patrick Jonston  "Do we actually expect those rescued by the government bailouts to actually keep their jobs? What naïvity! What wishful thinking! The government just postponed the inevitable collapse, and made it much, much more costly for Americans. The bureaucrats have sacrificed billions of our wealth and our financial freedom to benefit the privileged few with political connections."]
An Option: Flu Vaccines Without Mercury-Based Thimerosal usnews.com 9/29/8 ["While thimerosal gets flushed from the body much faster than methyl mercury, what remains is more likely to accumulate in the brain, as inorganic mercury, and remain there for a year or more, according to a 2005 University of Washington study..."]
 

The Day When Reality Strikes! lasttrumpetministries.org 9/28/8 [Pastor David Meyer  "We are seeing a major shift in the prevailing spiritual wind, which is bringing with it the very essence of antichrist as never before. For a very long time, we have been watching major erosion and deterioration of all of the old and established institutions, morals, and spiritual fiber that brought America to its erstwhile greatness. These foundations are rapidly being pulled away, and they are disappearing without a trace among our new, younger society."]
Excel CEO says credit crunch hurting shipping guardian.co.uk 9/28/8 ["The credit crunch is sucking liquidity out of global trade and the shipping business, leaving cargoes stranded on docks and threatening to bring down shipyards and ship owners alike, the top executive of Excel Maritime Carriers Ltd said on Friday.  "The banks have ceased lending and a lack of liquidity affects trade," Stamatis Molaris told Reuters in a telephone interview. "The demand for goods is there; there is just not enough liquidity to move those goods around.""]
Brigade homeland tours start Oct. 1 armytimes.com 9/28/8 ["Beginning Oct. 1 for 12 months, the 1st BCT will be under the day-to-day control of U.S. Army North, the Army service component of Northern Command, as an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks.  ...this new mission marks the first time an active unit has been given a dedicated assignment to NorthCom, a joint command established in 2002 to provide command and control for federal homeland defense efforts and coordinate defense support of civil authorities."]
Gas shortages: get ready for more cnn.com 9/28/8 ["That's because nationwide our gasoline inventory is shockingly low. Liquidity must be restored soon to this market, or we could be facing a crippling run on the gasoline bank. And if you think Americans are outraged about Wall Street, wait until their Main Street grocery store doesn't get the bread and milk delivery for a week or two."]
 

JPMorgan Buys WaMu Bank Business as Thrift Seized bloomberg.com 9/27/8 ["JPMorgan Chase & Co., the third- biggest U.S. bank by assets, agreed to acquire Washington Mutual Inc.'s deposits and branches for $1.9 billion after regulators seized the thrift in the biggest bank failure in U.S. history."]
Withdrawals by customers ultimately sank WaMu: OTS marketwatch.com 9/27/8 ["...withdrew $16.7 billion in cash from the thrift in the past nine days"]
Hong Kong Calms Depositors After Bank East Asia Run bloomberg.com 9/27/8 ["Hong Kong's government, regulators and richest man came to the aid of Bank Of East Asia Ltd. after ``malicious rumors'' about its financial stability spurred the city's first bank run in more than a decade."]
Gold coin sales halted after retail rush ft.com 9/27/8 ["The rush by retail investors into gold on Thursday forced the US government to “temporarily” suspend the sales of the popular American Buffalo one-ounce bullion coin after depleting its inventories."]
Wachovia shares fall after WaMu failure marketwatch.com 9/27/8 ["fell more than 35% Friday following the failure of Washington Mutual.  ... is the largest originator of mortgages called "option ARMs," with Washington Mutual Inc. ranking second behind it."]
Central banks attempt money-market rescue marketwatch.com 9/27/8 [""The financial industry is now on life support, kept alive by massive emergency injections of liquidity from the Federal Reserve," said Bernard Baumohl, chief economist at The Economic Outlook Group in Princeton, N.J."]
Va. chaplains quit over prayer policy washtimes.com 9/27/8 ["At least six of the Virginia State Police's 17 chaplains have resigned following a request they offer only "nondenominational" prayers during department-sanctioned public events and ceremonies, police said Wednesday.  ...chaplains were told they could not invoke the name of Jesus, but a state police spokeswoman denied the assertion."]
Stand by for Black Monday thisislondon.co.uk 9/27/8 ["Other senior market figures said the fall on the FTSE-100 would be at least 600 points while the Dow in New York could fall by 1000 points. There were also worrying signs in the City that wealthy investors are starting to lose faith in the entire banking system."]
House Passes $61B Stimulus Bill foxbusiness.com 9/27/8 ["The House has passed a $61 billion Democratic plan to pump $56 billion in government spending into the economy through public works projects, help for the jobless and money for states struggling with their Medicaid bills."]
FL: Police May Stop Responding To Some Crimes local6.com 9/27/8 ["Berger, however, pointed out that his agency has been hit hard by higher fuel costs and a cut in revenue. Earlier this year, Berger implemented a number of cost-saving efforts, including a no-idling policy for patrol cars."]
 

China banks told to halt lending to US banks-SCMP reuters.com 9/26/8 ["Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday."]
French leader says markets neared catastrophe ap.google.com 9/26/8 [""Self-regulation as a way of solving all problems is finished. Laissez-faire is finished. The all-powerful market that always knows best is finished," Sarkozy said."  Editor: Notice the picture that they are posting is of him signaling a 666.]
Banks snap up Fed cash at record $188 bln per day reuters.com 9/26/8 ["...on average directly from the Federal Reserve in the latest week, showing the central bank went to extremes to keep the financial system afloat amid the biggest crisis since the Great Depression.  Federal Reserve data showed on Thursday the total amount borrowed nearly quadruples the previous record of $47.97 billion per day notched just the week before..."]
Monopoly Money newswithviews.com 9/26/8 [By Coach Dave Daubenmire  "It will take the United States government 3 hours and 40 minutes to spend a billion dollars. A trillion is 999.9 billion."]
US 'no longer economic superpower' theaustralian.news.com.au 9/26/8 ["...Germany's finance minister says.  ..."The long term consequences of the crisis are not yet clear. But one thing seems likely to me: the USA will lose its superpower status in the global financial system. The world financial system is becoming multipolar," Peer Steinbrueck said in a speech to parliament."]
Sarkozy calls for world financial overhaul afp.google.com 9/26/8 [""I am convinced that the sickness runs deep and that we need to rethink the entire financial and monetary system, as we did in Bretton Woods after World War II, to create the tools for worldwide regulation made necessary by the globalisation of trade."  Sarkozy's Toulon speech was his first address to the French public since the collapse of US investment giant Lehman Brothers 10 days ago, and came on the eve of the release of the 2009 French budget to the cabinet."]
Venezuela signs Chinese oil deal bbc.co.uk 9/26/8 [" Venezuela, one of the world's largest oil producers, is seeking new markets to reduce its dependency on exports to the United States.  Mr Chavez has now continued to Russia, for his third visit to Moscow within three months. "]
 

2008-2009 Television Season to More than Double Homosexual Characters lifesitenews.com 9/25/8 ["The Gay & Lesbian Alliance Against Defamation (GLAAD) conducted their annual "Where We Are On TV" report on the five broadcast networks - ABC, CBS, Fox, NBC and The CW. GLAAD found that the number of LGBT scripted characters appearing in this year's 88 scripted dramas and comedies jumped to 16 from last year's seven."]
U.S. gasoline inventories lowest since 1967 reuters.com 9/25/8 ["Five U.S. oil refineries with a total production capacity of 1.231 million barrels a day have remained shut since Ike idled 14 plants, or a quarter of the nation's refined fuel production, nearly two weeks ago, according to the department.  ..."Continuing reports of spot shortages of gasoline at some retail outlets where supplies have been most disrupted can be expected over the next several weeks," the EIA said in its weekly review of the oil market."]
Fed plows $30 billion in money markets overseas apnews.excite.com 9/25/8 ["The Fed's action - taken at 1 a.m. EDT - sets up temporary "swap" arrangements to supply dollars to the central banks of Australia, Denmark, Norway and Sweden in exchange for their currencies."]
Thank You, Dr. Ron Paul newswithviews.com 9/25/8 [By Chuck Baldwin  "Yesterday, September 22, Congressman Ron Paul publicly gave me his endorsement for the office of President of the United States. In his blog at the Campaign for Liberty web site, he said, "I'm supporting Chuck Baldwin, the Constitution Party candidate.""]
Investors cheer international push by Japan banks apnews.excite.com 9/25/8 ["Nomura Holdings Inc. (NMR), Japan's biggest brokerage, said late Tuesday it would buy Lehman Brothers' operations in Europe and the Middle East, adding to the Asian operations it bought a day earlier from Lehman, which filed for bankruptcy last week."]
Auto industry to get $25 billion in federal loans apnews.excite.com 9/25/8 ["The loans, approved by the House as part of a larger spending bill Wednesday, are intended to help the industry refurbish decades-old plants and develop advanced batteries and gas-electric hybrids. The loans are a major win for General Motors, Ford and Chrysler, who lobbied for the funding as they dealt with a sluggish economy and weak sales.  ...The companies hope to receive the loans at government interest rates of about 5 percent, which would save them about $100 million a year for every $1 billion in loans. The auto manufacturers have poor bond ratings and would only qualify for double-digit interest rates."]
Uncle Sam's Bailout Plan Is Just Monetary Morphine newswithviews.com 9/25/8 [By Paul Proctor  "You see, that money has to come from someone, somewhere. Though most of us know the burden will end up being laid on the backs of average Americans in the form of future taxes, I must reiterate that someone must loan it to us first."]
Pornographic Planned Parenthood Videos Taken Off Site after Protests lifesitenews.com 9/25/8 ["Every person concerned with the health and wellbeing of our children should have been outraged by this blatant attempt to sexualize kids. It appears the roar of just anger over this Planned Parenthood filth was so great, Planned Parenthood, the nation's largest abortion chain had to shut it down. This is truly a great day.""]
30 million more children should get flu vaccinations, feds say cnn.com 9/25/8 ["All children 6 months to 18 years old should receive the flu vaccine this year, federal officials said Monday, offering protection to an additional 30 million children."]
Meteorite experiment deals blow to 'bugs from space' theory afp.google.com 9/25/8 ["A novel experiment has dealt a setback to a theory that life on Earth was kickstarted by bacteria that hitched a ride on space rocks.  The "pan-spermia" hypothesis is that cells were transported to the infant Earth on rocks that were bumped off other planets or even came from another star system."]
Clinton Global Initiative begins in NYC newsday.com 9/25/8 ["Participants at the Clinton Global Initiative are asked to take concrete steps to tackle specific global problems. Some of those commitments are announced during the four-day meeting.   ...Close to 60 current and former world leaders were expected at the conference. Both presidential candidates were also expected to take part. "]
 

UN chief calls for 'global leadership' afp.google.com 9/24/8 ["He spoke of a "challenge of global leadership" to tackle the world's worsening financial, energy and food crises.  ..."In this new world, our challenges are increasingly those of collaboration rather than confrontation," he added. "Nations can no longer protect their interests, or advance the well-being of their people, without the partnership of the rest.""]
Bush, world leaders try to contain market fallout reuters.com 9/24/8 ["Sarkozy called for a summit of world leaders in November to examine ways to overhaul what he said was a "crazy" financial setup at the root of the problem."]
Auto loans included in must-pass spending bill reuters.com 9/24/8 ["A mammoth spending bill to keep the U.S. government running through March will include a $25 billion loan guarantee package for the struggling auto industry, House Appropriations Chairman David Obey said on Tuesday.  The must-pass spending measure, which carries a price tag of more than $600 billion  ...The bill includes $5.2 billion to help low-income people pay their heating bills, $2 billion for student loans and roughly $23 billion in emergency aid to states hard hit by hurricanes and other recent natural disasters, he said.  ..."]
Putin calls for changing the architecture of the international financial system itar-tass.com 9/24/8 ["“We all need to think about changing the architecture of international finances and diversifying risks. The whole world economy cannot depend on one money-printing machine,” Putin said at the final press conference after a meeting of the Russian-French bilateral commission on cooperation in Sochi on Saturday."]
Bernanke Signals U.S. Should Pay More for Bad Debt bloomberg.com 9/24/8 ["signaled that the government should buy devalued assets at above-market values to make its proposed $700 billion rescue package most effective in combating the financial crisis."]
The Crisis Is Upon Us news.goldseek.com 9/24/8 [By: Dr. Ron Paul, U.S. Congressman  "There are reasons to believe this coming crisis is different and bigger than any the world has ever experienced. Instead of using globalism in a positive fashion, it's been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers."]
$5 Trillion Cash Pool Needed to Stop Rout, Ohmae Says bloomberg.com 9/24/8 ["Ohmae, nicknamed ``Mr. Strategy'' during his 23 years as a McKinsey & Co. partner, called for a $5 trillion ``international facility'' to be made available to financial institutions. The system could be modeled on one used by Sweden during its banking crisis in the early 1990s, he said.  ``This is a liquidity crisis,'' Ohmae said at an investor forum hosted by CLSA Asia-Pacific Markets, the regional broking arm of Credit Agricole SA, in Hong Kong yesterday. ``The liquidity has to be so big that people won't get panicky.'' "]
US dollar set to be major casualty of Hank Paulson's bailout telegraph.co.uk 9/24/8 ["What was perhaps even more worrying for investors was an item in the small print of Hank Paulson’s rescue plan. It said that, separate to the $700bn markets rescue package, the US Treasury would plunder the Exchange Stabilisation Fund – the US currency reserves, established in the 1930s – in order to pay for an insurance scheme for the money markets."]
NYC buys new security for Va. gun shop, ends suit ap.google.com 9/24/8 ["The lawsuit marked the first time that a big city sought to battle crime by going after gun dealers that had track records of selling weapons later used to commit crimes. The case generated praise for Bloomberg from gun control groups but ridicule from gun rights advocates, who said the mayor was grandstanding for a possible presidential bid."]
 

Miller/Coors Beer Again Supports Sadomasochistic Gay Street Orgy: Boycott Urged lifesitenews.com 9/23/8 ["Miller, however, has now flip-flopped on their decision and is once again endorsing the homosexual event, having paid for a full-page advertisement in the 2008 Folsom Street Fair Program Guide.  ...a letter from the Mayor of San Francisco, Gavin Newsom, that appeared in the 2008 Folsom program guide endorsing the event. "]
Oil makes biggest single-day price jump ever ap.google.com 9/23/8 ["Oil prices briefly spiked more than $25 a barrel Monday, shattering the record for the biggest one-day gain as unease about the government's $700 billion bailout plan pummeled the dollar and spurred investors to buy safe-haven assets. An expiring crude contract added fuel to the frenzied rally."]
Bush Urges Quick Action on Financial Rescue Package bloomberg.com 9/23/8 ["The three-page rescue plan sent to Congress Sept. 20 empowers Treasury Secretary Henry Paulson to purchase mortgage- related securities from U.S. financial companies. The administration widened the scope of bad loans that may be acquired, potentially including car loans, credit-card debt and other devalued assets held by banks."]
Fannie, Freddie Subprime Spree May Add to Bailout bloomberg.com 9/23/8 ["The subprime overhang may determine whether the $200 billion U.S. Treasury Secretary Henry Paulson earmarked for the companies will all be used to rev up mortgage lending. He may have to spend about $300 billion, William Poole, the former Federal Reserve Bank of St. Louis president, said in a Bloomberg Television interview this month."]
Money market funds suffer huge outflows ft.com 9/23/8 ["Money market funds in the US suffered an estimated $197bn of net outflows last week as confidence in their safe-haven status weakened after one fund “broke the buck” and others closed."]
U.S. Scales Back Money-Fund Plan as Withdrawals Slow bloomberg.com 9/23/8 ["The U.S. government backed away from insuring all domestic money-market funds as a run on the $3.29 trillion industry slowed and banks complained that they would be hurt by the Treasury's plan."]
Palin Will Meet With Kissinger and Foreign Leaders nytimes.com 9/23/8 ["But it is likely that Mr. Kissinger, a close outside adviser to Mr. McCain’s campaign, will give Ms. Palin a broad overview of international affairs, focusing particularly on Russia, China and the Middle East. Mr. Kissinger, who was national security adviser and secretary of state in the Nixon and Ford administrations, is regularly called on by Mr. McCain for advice on foreign affairs."]
Galveston Seeks $2.2 Billion in Storm Relief nytimes.com 9/23/8 ["Mr. LeBlanc acknowledged that the amount the city was seeking might raise questions in Congress, which is wrestling with whether to approve a $700 billion plan to bail out Wall Street. But, he said, “These are legitimate requests.”"]
G7 vows to help US fight global financial crisis afp.google.com 9/23/8 [""We pledge to enhance international cooperation to address the ongoing challenges in the global economy and world markets and maintain heightened close cooperation between finance ministries, central banks and regulators," they said.  The G7 nations reaffirmed their commitment "to protect the integrity of the international financial system and facilitate liquid, smooth functioning markets, which are essential for supporting the health of the world economy.""]
With Wall Street in turmoil, some turn to religion reuters.com 9/23/8 [""In the past couple of days there was high anxiety and trepidation," Madigan said. "The situation we are faced with today by economic standards is very much unknown, uncharted territory and faith helps us deal with those situations.""  Editor:  Religion will get you nowhere.  A relationship with Jesus Christ, as your Saviour, can give you rest and hope.  Read Psalm 94:17.  Acts 16:31 - "Believe on the Lord Jesus Christ, and thou shalt be saved"]
Vatican Official Defends Evolution Against 'Useless' Creationism foxnews.com 9/23/8 ["A professor at a Vatican-sponsored university expressed dismay Tuesday that some Christian groups reject the theory of evolution — implicitly criticizing the literal interpretation of the Bible."]
Brazilian President Luiz Lula Defends Abortion, Gay Unions lifesitenews.com 9/23/8 ["Echoing the claims of many pro-abortion politicians in the United States, Lula stated that he is against abortion, but that topic should be treated as a "public health" issue."]
America Reduced To Third World Status newswithviews.com 9/23/8 [By Joan Veon  "America is the only country NOT to have a tax on services or a Value Added Tax-VAT. The repercussions of this takeover of America is that our cities, states and federal government are broke. One of the ways to “bail us out” is to create an “Infrastructure Corps” similar to the various programs Roosevelt created in the 1930s. To pay for it, we will need a VAT tax. Obama has already alluded to the “Infrastructure Corps” and he has talked about a capital gains tax on the sale of property."]
 

U.S. offers to insure money market mutual funds latimes.com 9/22/8 ["Investors with their nest eggs stashed in many money market mutual funds will soon have a U.S. government safety net akin to what bank depositors have long enjoyed. Moving to halt a broad run on the funds, the U.S. Treasury on Friday offered as much as $50 billion in insurance coverage to protect the beleaguered, cash-like investments. The government said that for the next year it would insure the holdings of any retail or institutional fund that pays a fee to participate in the program."]
Last major investment banks change status ap.google.com 9/22/8 ["The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks — Goldman Sachs and Morgan Stanley — to change their status to bank holding companies. The Fed announced that it had approved the request of the two investment banks. The change in status will allow them to create commercial banks that will be able to take deposits, bolstering the resources of both institutions."]
Ron Paul: This Bailout Won't Be the Last usnews.com 9/22/8 ["The people who had been making profits for all these years and dealing in all of this debt creation and derivatives—that now is becoming unwound—are claiming that it would be so painful if somebody went bankrupt and therefore we have to put so much burden on the taxpayer and on the dollar because the alternative is worse. But quite frankly, if they destroy the dollar and the dollar system, then they have a much bigger problem that they are going to have to deal with and it would be the collapse of the whole international monetary system—which is conceivable.""]
GM Will Draw on Remaining $3.5 Billion in Credit Line bloomberg.com 9/22/8 ["GM Chief Executive Officer Rick Wagoner has orchestrated a plan to raise $4 billion to $7 billion by selling assets and adding debt to ensure it has enough liquidity to operate through the end of 2009. GM, the world's largest automaker, has lost $69.8 billion since the end of 2004, its last profitable year."]
 

More financial shock and awe? reuters.com 9/21/8 ["Senior Bush administration officials pressed counterparts in Japan, Germany, Britain and other nations to set up similar plans for their own troubled financial firms...  Russia, which was forced to suspend stock and bond trading for two days last week, is pledging $130 billion in emergency funds to help prop up local markets.  ...U.S. Treasury Secretary Henry Paulson would have sweeping powers over the massive war chest and his decisions would not be reviewed by any court, according to a copy of the draft legislation obtained by Reuters."]
Paulson resists calls for added help in bailout ap.google.com 9/21/8 ["Schumer said that he was pushing to get a provision where the government would receive stock warrants in return for the bailout relief and for creation of a government oversight board to supervise the huge operation, which under Paulson's plan would be run out of the Treasury Department.  ...The proposal would raise the statutory limit on the national debt from $10.6 trillion to $11.3 trillion to make room for the massive rescue."]
Paulson: Foreign banks can use US rescue plan reuters.com 9/21/8 [""Yes, and they should. Because ... if a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution," Paulson said...   It would be extraordinary circumstances, highly unlikely, that the cost will be anything like the amount you spend for the assets.""  Editor: Baloney]
Buffett's "time bomb" goes off on Wall Street reuters.com 9/21/8 ["...credit default swaps -- complex derivatives originally designed to protect banks from deadbeat borrowers -- are adding to the turmoil.  ...Five years ago, billionaire investor Warren Buffett called them a "time bomb" and "financial weapons of mass destruction" and directed the insurance arm of his Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz) to exit the business."]
Treasury fact sheet on proposed rescue plan marketwatch.com 9/21/8 ["...text of a U.S. Treasury fact sheet on its proposal, as of late Saturday, to buy troubled assets in order to help shore up the country's financial system:"]
 

McCain, Obama Defend Embryonic Stem Cell Research lifesitenews.com 9/20/8 ["Obama also said he disagreed with the mounting evidence that indicates stem cells from alternate sources continue to show more promise than embryonic stem cells. He argued that embryonic stem cells still have more "versatility" and remain the "gold standard."  Sen. McCain, in a shorter response, expressed his belief that embryonic stem cell research should receive federal funding. At the same time, he said, efforts should be made to ensure that such research does not violate "ethical principles." "]
President Bush Attends Iftaar Dinner whitehouse.gov 9/20/8 ["According to the teachings of Islam, Ramadan commemorates the revelation of God's word in the Holy Koran to the prophet Mohammad."]
Why Would God Judge America? informedchristians.com 9/20/8 [By Daniel Valles, editor  "How much does God hate the shedding of innocent blood? Enough to destroy a whole nation? Absolutely yes.  Do you think a people can ignore murder in their country, condone by silence its practice, permit its teachings in its schools, and fund the butchering with public money and yet remain unpunished?  Four times God destroyed a people group/nation, specifically for shedding innocent blood!"]
Congressional Leaders Stunned by Warnings nytimes.com 9/20/8 ["Mr. Bernanke and Treasury Secretary Henry M. Paulson Jr. had made an urgent and unusual evening visit to Capitol Hill...  the congressional leaders were told “that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.”  Editor: This may be them blowing smoke in their face to get Congress to authorize whatever, but if you look at the fundamentals, he was correct, too.  Plus, it is rather disconcerting that that claim was made publicly, and covered by the papers.  This could be a good item to print out and show to your pastor, elder, spouse, friend, etc. who has their head in the sand about the real state of our economy.  Don't forget to catch that last part of their statement - 'globally'.  This will result in an global crises that will require global action and solutions.... now that sounds familiar... "]
U.S. launches all-out attack on credit crisis reuters.com 9/20/8 [""America's economy is facing unprecedented challenges, and we are responding with unprecedented action," Bush told reporters in the White House Rose Garden."]
Wall Street's troubles disable credit on Main Street iht.com 9/20/8 ["the meltdown on Wall Street, threatens gradually to corrode U.S. economic activity on Main Street, mainly by disabling the credit on which so many everyday transactions depend...  By late summer, a majority of U.S. lenders had tightened standards for every type of credit, the Federal Reserve's bank surveys show. Home equity lines of credit have been canceled or reduced as home prices have fallen."]
In Asia, bloom is off the U.S. rose iht.com 9/20/8 ["Asian savings have, in essence, bankrolled American spending for decades, and an Asian loss of confidence in American financial institutions and assets would have dire consequences for the U.S. government and American taxpayers.   ...Little-noticed data released by the U.S. Treasury Department on Tuesday showed that a sharp shift in international capital movements began in July. Private investors pulled a net $92.9 billion out of the United States, after putting $46.8 billion into American securities in June."]
Top UN Official Applauds Plummeting Births, Calls for Protection of Sodomy lifesitenews.com 9/20/8 ["At United Nations headquarters last week, UN Population Fund (UNFPA) executive director Thoraya Obaid called for more funding for population programs, including reducing fertility, promoting “reproductive health services,” and “de-stigmatizing” sodomy.  Obaid began her remarks by commemorating the 40th anniversary of Paul Erlich's book, The Population Bomb, which alarmed readers about the threat of “overpopulation” and justified the establishment of UNFPA. While she admitted the book’s prediction of “massive starvation on a large scale has not come to pass... UNFPA’s funding increased in 2008 by $50 million to a total of $470 million"]
Ameribank folds, 12th bank closure this year marketwatch.com 9/20/8 ["As of June 30, Ameribank had $115 million in total assets and total deposits of $102 million, the regulator said."]
Ambac, MBIA fall as Moody's warns it may cut again marketwatch.com 9/20/8 ["Ratings agency says losses on subprime mortgage securities to be much worse...  Despite short selling being banned on Ambac ...and MBIA ...starting Friday, shares of the two companies fell 42% and 8% respectively during afternoon trading."]
 

WaMu puts itself up for sale, report says marketwatch.com 9/19/8 [""]
Morgan Stanley Said to Be in Talks With China's CIC bloomberg.com 9/19/8 ["China's state-controlled fund may buy as much as 49 percent of the New York-based investment bank, said the person, who declined to be identified because the talks aren't public and may end in no agreement. Morgan Stanley resumed its decline on the New York Stock Exchange, falling as much as 22 percent."]
Unconverted Christians newswithviews.com 9/19/8 [By Coach Dave Daubenmire  "You see, there is a difference between being a follower of Jesus and being a convert. It is my contention that today, just like in Jesus’ day; there are plenty of followers and very few converts."]
Banks borrow $48 billion from Fed as crisis mounts reuters.com 9/19/8 ["U.S. financial institutions borrowed a record $47.97 billion a day on average from the U.S. Federal Reserve in the latest week in a scramble for cash as the global credit crisis deepened, Federal Reserve data showed on Thursday."]
Invasive Tests Cause Two Healthy Children to Die by Miscarriage for Every Three Down Children Detected lifesitenews.com 9/19/8 ["The study's researchers, from the charity Down Syndrome Education International (DSEI), estimate that in the process of detecting and aborting 660 Down babies annually, screening leads to the deaths of 400 babies who do not have the disorder in England and Wales alone. Based upon their findings, the researchers are calling into question the ethical standing of the government's policy of offering screening to all pregnant women."]
Fed announces $180bln cash flood to fight crisis breitbart.com 9/19/8 [" The Federal Reserve said it was expanding its temporary arrangements for banks to obtain dollars by 180 billion "to provide dollar funding for both term and overnight liquidity operations by other central banks."  The move was to fight "continued elevated pressures in US dollar short-term funding markets," the Federal Reserve said. The Fed's statement concerned "reciprocal arrangements", which several central banks had authorised to run up to January 30, 2009, or for another four and a half months. "]
Report faults U.S. move of Cheyenne command center reuters.com 9/19/8 ["The U.S. military began moving its Cold War command center from deep inside Cheyenne Mountain, Colorado, without fully analyzing potential security threats posed by the relocation, a report said on Thursday.  The Government Accountability Office...  While the move is still under way, GAO said operations began at the new combined command center on May 29."]
Russia test-fires new-generation strategic missile google.com 9/19/8 ["...can be equipped with up to 10 individually targeted nuclear warheads.  ...The test came three weeks after Russia test-fired an intercontinental Topol RS-12M missile, also designed to avoid detection by missile-defence systems."]
 

As Wall Street tumbles, the world quakes csmonitor.com 9/18/8 ["Banks, insurance companies, pension funds, and mortgage companies from Tokyo to the City are closely tracking the handling of the US financial crisis. While exposure to the root of the problem – toxic securities derived from US subprime home loans – may be lower, financial systems elsewhere are feeling the same squeeze.  "This is a global crisis, not a local crisis," says Jeremy Batstone-Carr, an analyst at Charles Stanley, a London brokerage firm. He says there is a "distinct possibility" that other institutions in Europe or elsewhere could follow Lehman into bankruptcy. "]
Gold Takes Biggest One-Day Dollar Leap Ever foxbusiness.com 9/18/8 ["as fears of more credit market turmoil unnerved investors and triggered a flood of safe-haven buying.  Gold for December delivery rose as much as $90.40, or 11.6 percent, to $870.90 an ounce in after-hours trading on the New York Mercantile Exchange after jumping $70 to settle at $850.50 in the regular session. That was the biggest one-day price jump ever; gold's previous single-day record was a $64 gain on Jan. 29, 1980."]
Fed Takes Control of AIG With $85 Billion Bailout bloomberg.com 9/18/8 ["AIG unraveled as the worst housing crisis since the Great Depression led to more than $18 billion of losses in the past year. A meltdown could have cost the financial industry $180 billion, according to RBC Capital Markets, because AIG provided insurance on more than $441 billion of fixed-income investments held by the world's biggest institutions, including $57.8 billion in securities tied to subprime mortgages."]
Financial crisis in dangerous new phase iht.com 9/18/8 ["The cost of borrowing shot up for corporations and banks. One key overnight lending rate was above 5 percent on Wednesday, more than double its level a week earlier. GMAC, the auto finance company owned in part by General Motors, had to pay interest of 5.25 percent on Wednesday for a form of short-term financing known as one-week commercial paper, up from 4 percent the previous day.  Businesses stung by the high costs of borrowing may be forced to look for ways to trim expenses, an ominous turn in a slowing economy with unemployment rates on the rise."]
Wall St. woes force U.S. to seek cash for Fed uk.reuters.com 9/18/8 ["The U.S. Treasury Department said it was selling $40 billion of cash management bills -- effectively new debt -- at the request of the Federal Reserve to help the central bank "better manage their balance sheet", as a Treasury statement put it.  ...More than $900 billion has been committed so far in U.S. government rescues and mortgage market intervention since the housing and sub-prime mortgage markets collapsed, triggering a credit crunch that is now in its second year."]
HBOS - Lloyds TSB: Biggest rescue deal in British banking history telegraph.co.uk 9/18/8 ["HBOS, the country’s biggest mortgage lender, accepted an emergency takeover from rival Lloyds TSB following the collapse of its share price. Details will be announced today.  Gordon Brown intervened to try to secure the deal in an attempt to prevent further market panic after three of the most tumultuous days witnessed on the stock market."]
Wall St layoffs topped 49,000 last month: NY Assembly Speaker news.yahoo.com 9/18/8 ["This is one of the largest estimates of job losses so far for the banks and brokerages that pay one-fifth of the state's taxes and about one-third of city wages and salaries.  ...Gov. Paterson told Albany radio WCBI that the "actions of the last 72 hours" may already have run through a $500 million cushion the state set aside for this year."]
Panic as Russian market suspended news.com.au 9/18/8 ["Those hardest hit on the RTS were energy companies, with state-controlled gas giant Gazprom falling 17.2 per cent and oil firm Rosneft losing 19.12 per cent.  "The turmoil on Wall Street and worries about fall in the oil price are keeping buyers away despite the cheap prices," said analyst Chris Weafer in a note from Moscow-based investment bank Uralsib."]
EU: Draghi: Deeper Crisis Would Call for Global Solution wsj.com 9/18/8 ["“Until now, the first remained typically national since each crisis was unique to the financial structure of the country and so were the remedies. However, if the crisis were to become systemic - and the past weekend has shown just how sudden and dramatic the turn of events can be — I believe that an internationally coordinated effort will be necessary.” Mr. Draghi’s words have international heft, since he chairs the Financial Stability Forum — a group of global regulators and central bankers working on solutions for preventing the next blowup."]
Jesus Was A Community Organizer? newswithviews.com 9/18/8 [By Paul Proctor  "Today’s church has become so obsessed with results and relationships that they no longer have an interest in the things of God – only “building community.”  It sounds so benevolent, doesn’t it?  And that’s just what community organizers do – they “build community” – which has absolutely nothing to do with repentance and faith in Jesus Christ – the One who said: “My kingdom is not of this world.” "]
China paper urges new currency order after "financial tsunami" reuters.com 9/18/8 ["The commentary in the overseas edition of the People's Daily said the collapse of Lehman Brothers Holdings Inc (LEH.P: Quote, Profile, Research, Stock Buzz) "may augur an even larger impending global 'financial tsunami'."  The People's Daily is the official newspaper of China's ruling Communist Party, and the overseas edition is a smaller circulation offshoot of the main paper.  Its pronouncements do not necessarily directly reflect leadership views, but this commentary by a professor at Shanghai's Tongji University suggested considerable official alarm at the strains buckling world financial markets."]
Housing construction plunges 6.2 pct. in August ap.google.com 9/18/8 ["Building activity is on track to slide below the 1 million-mark for the whole year, the first time that has happened in more than six decades."]
 

No Deliverance From The Time Of Wrath newswithviews.com 9/17/8 [By Sheriff Jim R. Schwiesow, Ret.  "...a nation that consists, collectively, of a people led away from God by divers lusts, it is an ever-learning acculturation of those who are never able to come to a knowledge of the truth. It is in fact a nation of people who resist the truth, an irreverent fellowship of men of corrupt mind and reprobate faith. We are a people who turn to a righteous God only when it is selfishly expedient or when it suits our egotistical purposes to do so.  ...The floods, the hurricanes, the tornadoes, the fires, the earthquakes and the manmade disasters presage the time of the end. Soon - very soon - our cities will be host to civil strife such has never been experienced in the history of this nation. A pestilence of violence will roll across the land, cities will burn and the carnage will be great."]
Big Risk: Surging Debt Makes U.S. More Dependent on China, Russia, Gulf States yahoo.com 9/17/8 ["The big risk is that foreign holders of Treasuries will no longer accept low interest rates to help fund U.S. debt spending, says Roubini, noting countries like China, Russia and oil-producing nations in the Middle East have becoming increasingly important holders of Treasuries. Should they demand higher rates to hold U.S. debt or, worse, dump their holdings, it could have profound ramifications on the U.S. economy and the value of the dollar."]
Gulf Central Bankers May Adopt Monetary Union Draft: Week Ahead bloomberg.com 9/17/8 ["Central bank governors of five Gulf states will probably approve a new draft accord for monetary union at a meeting in Jeddah, Saudi Arabia, this week, the latest step toward a single currency for the region."]
Fannie, Freddie Takeover Diminishes Financing Options for Banks bloomberg.com 9/17/8 ["Treasury Secretary Henry Paulson's decision to seize Fannie Mae and Freddie Mac may choke off the biggest source of funding for financial companies suffering from the collapse of the subprime mortgage market."]
U.K. Government Funded Homosexual Promotion Project to Challenge "Supposedly Sexless" Primary Classrooms lifesitenews.com 9/17/8 ["No Outsiders, a 28-month, tax-funded research project funded by the government's Economic and Social Research Council, is already functioning in 14 primary schools in Britain, using books, puppet shows and plays to teach children as young as five about the "pleasures of gay sex.""]
Sharia courts operating in Britain telegraph.co.uk 9/17/8 ["Five sharia courts have been set up in London, Birmingham, Bradford and Manchester and Nuneaton, Warwickshire. The government has quietly sanctioned that their rulings are enforceable with the full power of the judicial system, through the county courts or High Court. Previously, the rulings were not binding and depended on voluntary compliance among Muslims."]
Martial law threatened on Texas island of Bolivar Peninsula to clean up after Hurricane Ike suntimes.com 9/17/8 ["Authorities say the holdouts on Texas’ ravaged Bolivar Peninsula will be required to leave in the next few days, and they are prepared to impose martial law if needed to empty the barrier island scraped clean by Hurricane Ike."]
Ike resurrects river flooding fears across Midwest ap.google.com 9/17/8 ["Just a few months after near-record flooding across the Midwest, roads were under water again Tuesday in Missouri and elsewhere and utility crews were struggling to restore electrical service to thousands of customers in the wake of the remnants of Hurricane Ike."]
Asian central banks spend billions to prevent crash iht.com 9/17/8 ["The region's banks spent nearly $27 billion, after the $70 billion U.S. Federal Reserve injection into American money markets, which seized up after Lehman Brothers became the latest casualty of a 13-month-old credit crisis.  The Bank of Japan gave the banking system its biggest cash injection in almost six months as the prime minister met top financial policy makers to discuss the fallout of the crisis that led to Lehman's bankruptcy."]
 

Russia's Medvedev: Attack on Iran will endanger entire world haaretz.com 9/16/8 ["Russian President Dmitry Medvedev said Friday, "We know that certain players are planning an attack against Iran. But we oppose any unilateral step and military solution to the nuclear crisis," he added."]
Record 259 corporations honored for 'gay' support worldnetdaily.com 9/16/8 ["The total in the 2009 report is up one-third from the 195 corporations so honored in 2008, according to the Human Rights Campaign, which explained that now an estimated 9 million workers "are protected from employment discrimination based on sexual orientation and gender identity or expression because of their employers' policies on diversity & inclusion, training, health care, and domestic partnership benefits.""]
Dow sheds 500 points in worst skid since 2001 terror attacks azcentral.com 9/16/8 ["The pullback, which erased about $700 billion in shareholder wealth, occurred across much of the globe as investors absorbed Lehman's bankruptcy filing and what was essentially a forced sale of Merrill Lynch to Bank of America for $50 billion in stock."]
Paulson Says Lehman Bailout `Never Once' Considered bloomberg.com 9/16/8 ["Executives from AIG, which was given special permission to access $20 billion of capital in its subsidiaries to free up liquidity, met today with Treasury and New York Fed officials to discuss the insurer's position.  ``What is going on right now in New York has got nothing to do with any bridge loan from the government,'' Paulson said. ``What's going on in New York is a private sector effort, again, focused on dealing with an important issue that's, I think, important for the financial system to work on right now.'' "]
Bank of America to Acquire Merrill as Crisis Deepens bloomberg.com 9/16/8 ["The takeover ends 94 years of independence for Merrill and gives Charlotte, North Carolina-based Bank of America a sales force with 16,690 brokers who manage $1.6 trillion for customers. Merrill, led by Chief Executive Officer John Thain, was in danger of becoming the next subprime casualty after Lehman Brothers Holdings Inc. filed for bankruptcy court protection earlier today."]
Lehman Files Biggest Bankruptcy Case as Suitors Balk bloomberg.com 9/16/8 ["...the fourth-largest U.S. investment bank, succumbed to the subprime mortgage crisis it helped create in the biggest bankruptcy filing in history.  The 158-year-old firm, which survived railroad bankruptcies of the 1800s, the Great Depression in the 1930s and the collapse of Long-Term Capital Management a decade ago...  The collapse of Lehman, which listed more than $613 billion of debt, dwarfs WorldCom Inc.'s insolvency in 2002..."]
Sarah Palin's Answers: Very Troubling newswithviews.com 9/16/8 [By Chuck Baldwin  "Everyone knows that John McCain is extremely weak on the life issue. He openly and repeatedly supported embryonic stem cell research. Ms. Palin says she opposes it. So, how would this conflict affect her position as McCain's Vice President? It wouldn't.  According to Palin, she would not let a "personal opinion" interfere with a McCain administration's policy that differed from hers. In other words, she would support McCain's pro-embryonic stem cell research decisions. I am sure this would also be true as John McCain increases federal funding for abortion providers, including Planned Parenthood, which is something that McCain has also repeatedly done."  Editor: We don't almost never cover politics here, but this article reminded me of the verse to judge by righteous judgment, not by appearances (John 7:24).  Too many conservative Christians are getting their hopes up without examining the matter. ]
Banks roll out $70 billion loan program usatoday.com 9/16/8 ["...that financial companies can tap to help ease a credit shortage that threatens global financial markets.  The ten banks, which include JPMorgan Chase and Goldman Sachs, said they were committing $7 billion each for the pool. The pool would act as a signal to the marketplace that banks, brokerages, and other financial companies can lean on the fund to take care of borrowing needs."]
Implications of a Ten Day Refinery Outage theoildrum.com 9/16/8 ["Even though Hurricane Gustav hit on September 1, its impact on petroleum product supplies were not felt immediately, because some inventories were still available, and because it takes a while for shortages to work their way through the pipeline. Gasoline traveling by pipeline from Texas to New Jersey takes an average of 18.5 days to make the trip, so it shouldn't be surprising that it took 11 days (from September 1 to September 12) for the Hurricane Gustav shortage to start to be felt."]
Fed Adds Most Reserves Since 9/11 as Banks Hoard Cash bloomberg.com 9/16/8 ["The Federal Reserve added $70 billion in reserves to the banking system, the most since the September 2001 terrorist attacks, to reverse a surge in borrowing costs sparked by the collapse of Lehman Brothers Holdings Inc."]
Bank of America, Merrill Bailout Disguised as Buyout? marketoracle.co.uk 9/16/8 ["...the Fed just opened up the types of securities for Schedule 2 auctions that can be used as collateral for borrowing from the Term Securities Lending Facility. Now all investment-grade securities can be pledged. In addition, the amounts auctioned have been increased by $25 billion to $200 billion. The problem is that what may be investment-grade today could easily become junk next week. In fact, as I have stated in the past, we are going to see a huge junk bond market soon. Already, corporate defaults are soaring."]
Meltdown shakes up Wall Street's workers ap.google.com 9/16/8 ["The roughly 25,000 workers at Lehman, as well as many of the 60,000 at Merrill, face a double whammy: Many will lose their jobs and the companies' plunging share prices likely wiped out much of their net worth.  At Lehman, stock and options could make up as much as 60 percent of an executive's pay and share awards vested over five years. For most employees, stock and options were about 40 percent of pay, with the same vesting schedule."]
Colonial says oil product pipelines shut due to Ike reuters.com 9/16/8 ["The Colonial pipeline is the nation's largest and can flow 2.3 millon barrels of refined products per day."]
 

Derivatives market trades on Sunday to cut Lehman risk forbes.com 9/15/8 ["Major players in the $455 trillion global derivatives market rushed Sunday to scale back exposure to a potential bankruptcy filing by investment bank Lehman Brothers (nyse: LEH - news - people ) in a rare emergency trading session.  ... "This is an extremely, and I stress extremely, rare event. It also speaks to the more general notion that, in today's highly disrupted financial markets, the unthinkable is thinkable," said Mohamed El-Erian, the chief executive of Pimco, the world's biggest bond fund, based in Newport Beach, California.  ... Market sources said the special session was initiated by the Federal Reserve."]
Frantic day on Wall Street as banks teeter iht.com 9/15/8 ["Questions still remain about how the market will react and whether other firms may still falter like AIG, the large insurer, and Washington Mutual, both of whose stocks fell precipitously last week.  Coming just a week after the government took control of mortgage lenders Fannie Mae and Freddie Mac, the magnitude of the industry's reshaping is staggering: two of the most powerful firms on Wall Street, Merrill Lynch and Lehman, will disappear."]
Fed Plans Expanded Lending Facilities wsj.com 9/15/8 ["The Federal Reserve is expected to expand its lending facilities in the wake of the likely demise of Lehman Brothers, taking a wider array of securities, including equities, as collateral for its loans, say people familiar with the matter."]
Ike Forces Shutdown of 19% of U.S. Refining Capacity bloomberg.com 9/15/8 ["At least 13 refineries in Texas including plants operated by Exxon Mobil Corp., Valero Energy Corp. and Royal Dutch Shell Plc shut 3.64 million barrels a day of refining capacity as Ike approached Texas. Exxon and Shell said today they would begin assessing damage of Gulf facilities as soon as weather permitted. Gulf refineries and ports are the source of about 50 percent of the fuel and crude used in the eastern half of the U.S."]
Banks seen offering plan to restore confidence ap.google.com 9/15/8 ["Banks are in tense talks to create a pool of money worth up to $50 billion to lend troubled financial companies..."]
 

Some refuse to evacuate as Ike closes in on Texas ap.google.com 9/13/8 ["Authorities in three counties alone said roughly 90,000 stayed behind, despite a warning from forecasters that many of those in one- or two-story homes faced "certain death."  "I believe in the man up there, God," said William Steally, a 75-year-old retiree who planned to ride out the storm in Galveston without his wife or sister-in-law. "I believe he will take care of me.""  Editor:  God told Noah to get out of danger from the flood that was coming. God takes care us by giving us a brain - He is not a spare tire.]
Shock: Prominent Feminist Admits "Abortion is Murder" but "I Am a Firm Supporter" lifesitenews.com 9/13/8 ["Paglia's piece, which appears on Salon.com, is the latest indication that "utilitarian" philosophies that no longer recognize the "right to life" as being the most foundational human right are gaining ground in some liberal circles. Under these philosophies even murder can be advocated as long as it protects what is deemed to be an even more important "right" - in Paglia's case the sacrosanct "right to abortion.""]
NC activates anti-gouging law as gas prices spike blueridgenow.com 9/13/8 ["The declaration comes Friday as Hurricane Ike bears down on Texas oil refineries, and gasoline prices in North Carolina and other states are rising.  North Carolina Attorney General Roy Cooper said Friday the law applies to all levels of the fuel supply chain.  ...“What we have heard from our fuel supplier is they are basically almost out of fuel and may not get any for next 4 to 10 days," she said about the Henderson County filling station."]
Fed holds emergency meeting on market developments reuters.com 9/13/8 ["with top representatives of major financial market firms to discuss recent market developments, a Fed official said."  Editor:  Notice that these meetings, along with bank foreclosure announcements, always happen on the weekend.]
ForeclosureS.com Reports More Than 100,000 Homeowners Lost Homes in August; One Million Foreclosures Expected in 2008 marketwatch.com 9/13/8 ["up nearly 6 percent from July and more than 80 percent higher than in August 2007, according to data released today by ForeclosureS.com, a national leader in foreclosure information."]
Washington Mutual Faces More Loan Losses, Stifel Says bloomberg.com 9/13/8 ["Washington Mutual fell 10 percent to $2.54 at 3:37 p.m. in New York Stock Exchange composite trading.  ``The biggest risk for WM is a run on deposits,'' Stifel analysts led by Chris Brendler wrote in a note to clients."]
Next casualty? Investors eye AIG iht.com 9/13/8 ["With Lehman Brothers running out of options in the past week, investors fear that AIG will face billions in additional losses because it has effectively guaranteed complex financial instruments tied to home loans whose values have plummeted. If so, it too could need to raise capital, which Freddie Mac, Fannie Mae and Lehman have demonstrated can be a vexing problem in the current market environment."]
For Lehman employees, the collapse takes double toll iht.com 9/13/8 ["In the past few days, employees of Lehman Brothers have wrung their hands as the value of their stock evaporated before their eyes. Now, many fear losing their jobs, too.  ...And they know that tens of thousands of other Wall Streeters laid off in the tsunami sweeping the financial industry - including many recently let go from Bear Stearns - are already chasing after too few jobs."]
Proposed new FBI rules draw civil liberties worries reuters.com 9/13/8 ["In its first major change in years, the Justice Department proposed a consolidated set of guidelines for domestic FBI operations, seeking to apply the same rules for criminal and terrorism cases, and for collecting foreign intelligence.  The guidelines were first adopted in the 1970s following disclosures that the FBI under J. Edgar Hoover had run a widespread domestic surveillance program that spied on civil rights activists and political opponents."]
French revolt over Edvige: Nicolas Sarkozy's Big Brother spy computer timesonline.co.uk 9/13/8 ["Hervé Morin, the Defence Minister, broke government ranks to side with a growing revolt against Edvige, an acronym for a police database that will store personal details including opinions, the social circle and even sexual preferences of more or less anyone who interests the State.  Edvige, which is also a woman's name, was created by decree in July to store data on anyone aged 13 or above who is "likely to breach public order".  "Sarkozy's Big Sister", as it has been dubbed, will also track anyone active in politics or trade unions and in a significant role in business, the media, entertainment or social or religious institutions. Listed people will have limited rights to consult their files. "]
 

Bankers say Lehman approaching rivals for lifeline ap.google.com 9/12/8 ["Top executives contacted banks and rival investment houses about a possible deal to buy the company, bankers and industry executives close to the situation said.  The nation's fourth-largest investment bank, which had tenaciously resisted putting itself up for sale, finally relented after a free-fall in its stock price and growing doubts about whether other financial institutions would continue to do business with it, according to these officials."]
Hurricanes deplete Red Cross relief fund ap.google.com 9/12/8 ["Gail McGovern, who became the embattled charity's president in June, said even a request for federal funding is under consideration as the Red Cross seeks to become less dependent on spontaneous donations that arrive only in the wake of huge disasters."]
Cars, trucks stream inland in Texas as Ike nears ap.google.com 9/12/8 ["The oil and gas industry was closely watching the storm because it was headed straight for the nation's biggest complex of refineries and petrochemical plants. The upper Texas coast accounts for one-fifth of U.S. refining capacity.  Wholesale gasoline prices spiked 30 percent Thursday, or nearly $1 a gallon, out of fear of what Ike might do. That means motorists can expect higher prices at the pump, though how much higher depends largely on how long refineries are shuttered after the storm."]
Wholesale gasoline prices top $5 a gallon forbes.com 9/12/8 ["in the U.S. Gulf topped $5 a gallon on Thursday as the region's oil refineries began closing down ahead of Hurricane Ike, adding to fears that U.S. drivers could see pump prices rise again.  Prompt spot gasoline prices in the U.S. Gulf traded at a record $2.50 a gallon over their gasoline futures benchmark, which itself traded as high as $2.83 a gallon in active trade on the NYMEX exchange, putting the price tag on a wholesale gallon of gasoline as high as $5.32 per gallon."]
Abortion Bill Passes Lower House in Victoria, Australia lifesitenews.com 9/12/8 ["The bill to remove abortion from the Crimes Act of the state of Victoria, Australia, has passed its third and final reading in the lower house. After a marathon session of Parliament MPs voted 48 in favour and 28 against legalising abortion in the Australian state."]
Mexico City Passes "Express Divorce" and "Gender Identity" Legislation lifesitenews.com 9/12/8 ["The city's new divorce legislation, which was quietly passed during the Supreme Court's deliberations, abolishes the list of necessary reasons for divorce, and allows either spouse to end the marriage simply by requesting it from a judge, who will terminate the union one month later.  ...Mexico City's legislature has also approved a measure that will allow "transsexuals", "transgenders" and transvestites to change the gender listed on their birth certificates."]
 

Barclaycard sees end of road for plastic cards uk.reuters.com 9/11/8 ["Britain's biggest credit card provider Barclaycard is to boost its contactless payment system which it believes will mean the physical plastic credit card will die out in the foreseeable future.  Barclaycard, owned by Barclays Plc, introduced its first contactless credit card as the OnePulse product one year ago, in which a microchip allows customers to pay for goods by touching the card against a reader without having to remove it from their wallet or purse."]
Homosexual U.K. Documentarian Says Gay Lifestyle a "Sewer" of Casual Degrading Sex, Drug Abuse and Misery lifesitenews.com 9/11/8 ["Simon Fanshawe is a writer and broadcaster who created the documentary "The Trouble With Gay Men" after becoming increasingly alarmed at the shallowness and destructiveness of the "gay lifestyle." The film, made for BBC 3 television, questions the emotional and psychological immaturity, narcissism, nihilism and self-destructive tendencies of many in the homosexual community."]
Facing huge losses, Lehman Brothers plans asset sales iht.com 9/11/8 ["the investment bank in an all-out fight for its survival, said Wednesday that it expected a third-quarter loss of $3.9 billion, or $5.92 a share, after $5.6 billion in write-downs.  ...Shares in Lehman, a major underwriter of mortgage-related securities during the credit boom, are down more than 90 percent since hitting their peak last year, before the subprime mortgage crisis."]
Fed Loans May Give Lehman Breathing Room Bear Lacked bloomberg.com 9/11/8 ["Lehman can borrow overnight from the central bank, with escalating costs if it keeps using the program. Because it's a stopgap, speculation may mount that the government will again intervene to prevent a large financial company from failing, after the Bear Stearns rescue and takeovers of Fannie Mae and Freddie Mac."]
Cost of US loans bail-out emerging ft.com 9/11/8 ["The US on Tuesday began to face the financial consequences of the bail-out of Fannie Mae and Freddie Mac after Congress’s budget watchdog said the housing giants’ operations should sit on the government’s books and the cost of insuring against a US default crept higher."]
Berkshire, in Blow to Banks, Reins In Its Deposit Insurer wsj.com 9/11/8 ["Warren Buffett's Berkshire Hathaway Inc. has told one of its subsidiaries to stop insuring bank deposits above the amount guaranteed by the federal government, dealing a fresh blow to the financial-services industry as it tries to assuage anxious customers."]
New Push Is On for $50b Economic Stimulus Package nysun.com 9/11/8 ["Economists and congressional aides said proposals under consideration for a new stimulus plan include increasing unemployment benefits; expanding both food stamps and a heating subsidy for the poor; increasing federal spending on Medicaid, and funding highway and school construction."]
Pentagon Invests $250 Million in Adult Stem Cell Research lifesitenews.com 9/11/8 ["Col. Bob Vandre of the Army's Medical Research & Materiel Command, who authorized the initiative, expressed excitement at the possibilities of adult stem cell research. "I think regenerative medicine is going to change the world," he said. "I can see [it] increasing quality of lives, and becoming a huge technology that'll completely change the way we do medicine throughout the country.""]
 

China frets at US risk after Fannie/Freddie bailout  guardian.co.uk9/10/8 ["The U.S. Treasury's takeover of Fannie Mae and Freddie Mac is good news in the short term for China, the biggest holder of the giant mortgage lenders' debt, but Beijing's huge U.S. exposure still poses a serious risk, a prominent government researcher said on Monday.  China owned $376 billion of debt issued by U.S. government agencies, principally Fannie and Freddie, as of mid-2007.  ...the bailout posed a problem: if the Treasury issues new debt to fund the rescue, should China be a buyer or not?"]
Brazil, Argentina drop dollar for bilateral trade iht.com 9/10/8 ["Brazil's president tells the Buenos Aires-based Clarin newspaper that exports and imports between the two nations will be bought and sold in local currency — reals and pesos."]
Lehman Fears Rock Wall Street; Dow Dives 280 foxbusiness.com 9/10/8 ["The day's losses centered around the worries about Lehman Brothers (LEH: 7.79, -6.36, -44.94%) but the stock market wasn't helped by diving energy stocks and a worse-than-expected report on new home sales. "]
S&P changes WaMu's outlook to negative from stable reuters.com 9/10/8 ["Washington Mutual, the largest U.S. savings and loan, has been put under special regulatory supervision following skyrocketing losses from mortgages that are expected to weigh on results for years."]
U.S. real estate hasn't hit the bottom yet iht.com 9/10/8 ["Since the market's peak in 2007, the availability of debt - the lifeblood of commercial real estate - has dried up and choked off sales. Borrowers have resisted selling because of falling prices. Banks have not sold off their troubled loans, fearing a huge write-down of all commercial real estate loans. But it looks as if the clock is running down."]
Homosexual Agenda in Brazil Suffers Defeats lifesitenews.com 9/10/8 ["On August 21, just five days after Gay Pride Week - which was approved under heavy pressure from the government, activists, and media - city council representatives in Petrópolis, Rio de Janeiro voted to revoke Law 6.508/08, which established Gay Pride Week in the city, an action that was denounced by homosexual activists and the newspaper O Globo."]
NYC hot lines accept videos, cell phone pictures ap.google.com 9/10/8 ["Callers to the city's 911 and non-emergency 311 lines will now be able to send in photos and video to report crimes and complain about quality-of-life problems like uncollected garbage.  While hundreds of cities accept text messages to emergency hot lines, New York is believed to be the first with the capability to accept images, officials said.  By next year, photos sent by bystanders will be made available to patrol cars, and pictures could even be used as evidence in prosecutions, officials said."]
 

No more fleeing, say many in Hurricane Ike's path seattletimes.nwsource.com 9/9/8 ["David Myers, a 39-year-old physician who rode out Gustav with relatives in Baton Rouge before returning home to New Orleans on Tuesday, said it would take a Category 4 or 5 storm to chase him away again. He expects many other residents who ran from Gustav to balk at evacuating for Ike.  Louisiana Gov. Bobby Jindal said so-called "hurricane fatigue" should not prevent people there from leaving their homes for the second time in 10 days."]
Complaint Filed against Australian Christian Resort for Refusing Homosexual Youth Group lifesitenews.com 9/9/8 ["as a test case to attempt to overturn legal exemptions that exist for religious groups in the Equal Opportunity Act. The Act, similar to other Western "anti-discrimination" measures, exists to "eliminate sexual and racial harassment in the workplace, educational institutions and accommodation.""]
How many corporate bailouts are too many? iht.com 9/9/8 ["Still, in the wake of the help for the mortgage giants and the rescue of the investment house Bear Stearns in March by the U.S. Treasury Department and Federal Reserve, there's already talk among economists, Wall Streeters and politicians about which companies or industries will be the next to belly up to the bar. And experts are looking at the possibility that Lehman Brothers, the troubled Wall Street investment firm, or Detroit automakers will seek assistance from Washington to deal with their problems."]
Web ushers in age of ambient intimacy iht.com 9/9/8 [""The information we subscribe to on a feed is not the same as in a deep social relationship," Boyd told me. She has seen this herself; she has many virtual admirers that have, in essence, a parasocial relationship with her.  ...She needs to stay on Facebook just to monitor what's being said about her. This is a common complaint I heard, particularly from people in their 20s who were in college when Facebook appeared and have never lived as adults without online awareness."  Editor: This is an interesting article into the way people are changing mindsets, and also how people are getting dependant on live information.  One can easily see parallels in prophecy where the whole world will see the prophets in Jerusalem.  Already today, events in the world can be on the net within seconds for all the world to see and comment on.  It also shows the shallowness of knowing people, too.]
Getting ahead of the next big storm csmonitor.com 9/9/8 ["...according to Mr. Kirsch, the Red Cross has laid off a third of its paid workforce this year, and is already having to borrow money for this year's storm season – an indication that the plight of storm-struck regions has not registered among the nation's charitable donors.  Moreover, many church groups are reporting they have only skeleton crews of volunteers available to help areas recover. And Kirsch says he's already hearing about volunteer fatigue from disaster medical assistance teams (DMAT) in New Orleans..."]
 

U.S. takes control of 2 mortgage giants iht.com 9/8/8 ["...of Fannie Mae and Freddie Mac, the giant quasi-public mortgage finance companies, Sunday and announced a four-part rescue plan that included an open-ended guarantee to provide as much capital as they needed to stave off insolvency.  ...The companies are likely to need tens of billions of dollars over the next year, but the cost to taxpayers will largely depend on how fast the housing and mortgage markets recover."]
Hedge funds ready to blow as positions liquidated theaustralian.news.com.au 9/7/8 ["The first hedge fund victim was Ospraie Management, which announced earlier this week it would close its flagship hedge fund and liquidate its stock after it plunged 27 per cent in August due to losses in energy, mining and natural resources equity holdings.  Other hedge funds are expected to topple as investors seize an opportunity to withdraw their poorly performing investments at the end of the September quarter. If there are too many redemptions, it will cause a run on hedge funds and create mayhem. "]
S&P, Fitch slash Fannie, Freddie preferreds to junk reuters.com 9/8/8 ["after dividends were eliminated in a takeover by the U.S. government."]
Merrill Lynch Cut to `Sell' at Goldman on Writedowns bloomberg.com 9/8/8 ["Merrill Lynch & Co., down 50 percent in New York trading this year, was cut to ``sell'' at Goldman Sachs Group Inc. on concern the firm may post more writedowns tied to credit-related investments."]
UK: Huge rise in the price of food telegraph.co.uk 9/8/8 ["The price of fresh food has risen by 12 per cent since the start of the year, while meat and fish now costs 23 per cent more on average. Meanwhile chicken and ham have risen by 42 and 45 per cent since January, placing the former staples out of many consumers' price range."]
Google-focused satellite enters orbit news.cnet.com 9/8/8 ["Well, not just Google. The GeoEye-1 is part of the NextView program of the U.S. National Geospatial-Intelligence Agency, a dot-mil organization that, odd as it may seem, wants access to commercial satellite imagery to support its national security mission."]
How Children Are Sexually Corrupted In Public Schools newswithviews.com 9/8/8 [By Joel Turtel  "Many school authorities insist that children need comprehensive sex education from kindergarten through high school. They believe parents can't be trusted because they have shameful feelings about sex or have “outdated” moral or sexual values."]
Venezuela to host Russia navy exercise in Caribbean reuters.com 9/8/8 ["Quoting Venezuela's naval intelligence director, Salbarore Cammarata, the newspaper Vea said four Russian boats would visit Venezuelan waters from November 10 to 14."]
China Suddenly Can't Afford U.S. Debt moneynews.newsmax.com 9/8/8 ["Last year, China spent more than one-eighth of its entire economic output on foreign bonds and has bought even more this year. If it stops buying dollar-denominated securities now, the dollar would tank, and U.S. interest rates would skyrocket."]
Could Florida Survive the Big One? time.com 9/8/8 ["But it's still dangerously exposed — not only to the elements, but to financial ruin. It's got the nation's most dysfunctional property insurance market, a byproduct of life in harm's way. Fitch's ratings agency concluded in March that if a big storm hits Florida, "the fragile market could effectively collapse.""]
Report: UN to demand Israel pay Lebanon $1 billion ynetnews.com 9/8/8 ["to take responsibility for environmental damages caused by 2006 war, including oil spill following bombing of Beirut power plant "]
 

MySpace links users to US hurricane emergency alerts afp.google.com 9/6/8 ["MySpace said it was among Internet firms that met with Homeland Security Secretary Michael Chertoff during his visit to Google's campus in Mountain View, California, on August 5.  ..."It isn't about MySpace," Nigam said. "It is about together saying we can all help our worldwide citizens. This can easily be mirrored in every country where you have social media.""]
Home foreclosures reach record high reuters.com 9/6/8 ["the increase in delinquencies and foreclosures up to this point is most likely predominantly the product of poor underwriting standards. Going forward, we have to overlay the weak economy and labor market picture as this more traditional driver of delinquencies will probably become more of a factor," they said."]
Bush Gives State Secrets To Obama newswithviews.com 9/6/8 [By Cliff Kincaid  "Barack Obama, who has not been “vetted” by the FBI for the position of president of the United States, received his “first high level briefing” on Tuesday from the office of the Director of National Intelligence, CNN has reported. “Obama was given the briefing at the FBI field office in Chicago,” the cable channel said, from a “team of intelligence experts.” But why should Obama, with a documented history of contacts with communists and terrorists, be trusted with this information?"]
Pick-a-payment loans turn poisonous cnn.com 9/6/8 ["There are about one million option ARMs outstanding, according to Fitch, and somewhere between 10% and 24% of these are seriously delinquent - 90 days or more past due.  But payments are slated to jump for large numbers of option ARM borrowers in the next two years, which Fitch predicts will double that delinquency rate. "]
Transportation Dept. almost out of highway funds ap.google.com 9/6/8 ["...blamed the funding shortage on the high price of gasoline, which has prompted Americans to drive less. This means less fuel has been purchased, and less gasoline taxes collected for the trust fund. Americans drove 50 billion fewer miles between November and June 2008 than during the same period a year earlier."]
 

Jesus Wouldn't Yell newswithviews.com 9/5/8 [By Coach Dave Daubenmire  "Their answer is startling. “Some say that thou art John the Baptist: some, Elias; and others, Jeremias, or one of the prophets.” After a day of listening to Jesus ministering on the streets in Caesarea Phillipi those who heard him thought He was John the Baptist. They didn’t think he was Mother Theresa. How could they possibly confuse Him with John the Baptist if he was so loving and tolerant?"]
ID bracelet computer and scanner in Louisiana photolibrary.fema.gov 9/5/8 ["A laptop computer inside The New Orleans Union Passenger Terminal (NOUPT) with scanner to scan each ID bracelet that are giving to each evacuee to be able to process and get all the information needed."]
Sarkozy warns Iran it risks Israeli attack reuters.com 9/5/8 [" "The question is not whether it would be legitimate, whether it would be intelligent. What will we do at that moment? It would be a catastrophe. We must avoid that catastrophe," Sarkozy told the meeting in comments broadcast on television.  Speculation about a possible attack on Iran's nuclear facilities has risen since Israel staged an air force exercise in June which was reported to be a simulation of a strike against Iran."]
Stocks plummet after retail, unemployment data ap.google.com 9/5/8 ["Wall Street has ended a dismal day with a huge decline. The Dow Jones industrials are down nearly 350 points after retailers and the Labor Department added to investors' mounting economic worries and prompted a wave of selling."]
Syria warns of global 'disaster' if Iran attacked ynetnews.com 9/5/8 ["France has promised Assad economic incentives in return for political progress. It also wants Syria to break its alliance with Iran, but Assad has shown no sign he is willing to do so."]
France To Call For UN Action To Decriminalize Homosexuality lifesitenews.com 9/5/8 ["Using the current French rotation at the presidency of the European Union to press the UN to take a stand in favour of decriminalizing homosexuality, Yade claimed to speak for all EU member states, even those that reject the EU's promotion of homosexuality."]
Greek "Robin Hoods" raid stores to fight high prices reuters.com 9/5/8 ["Greek anarchists stormed a supermarket Thursday and handed out food for free in the latest of a wave of raids provoked by soaring consumer prices."]
Obama: Grew Up with "the Bible and the Koran" crossroad.to 9/5/8 [" "Obama does clearly believe that the form of Christianity that he committed to at Trinity Church in 1985 is not the only path to God. 'I am rooted in the Christian tradition,' he has said. Nevertheless he asserts, 'I believe there are many paths to the same place and that is a belief there is a higher power, a belief that we are connected as a people.'"]
HSBC says super-rich clients moving into cash reuters.com 9/5/8 ["any of the world's wealthiest people have moved their money out of stocks and bonds and into cash, the head of HSBC's (HSBA.L: Quote, Profile, Research, Stock Buzz) Swiss private banking unit said on Monday."]
An ominous trend to watch: Corporate loan defaults iht.com 9/5/8 ["Now there are more prime mortgages going into foreclosure than there are subprime ones.  The world of corporate loans now looks like mortgages, circa 2007. Defaults are on the rise, but they are concentrated among small companies in industries with big problems."]
Two Birds with One Stone: Australian Homosexual Bill Promotes Polygamist Agenda lifesitenews.com 9/5/8 ["The Australian Federal Parliament today introduced a bill that, if passed, would grant legal benefits to homosexual couples; but critics say it would also essentially legalize polygamy, since the bill would grant benefits to homosexual relationships regardless of whether either partner is currently legally married to someone else."]
FEMA may cover hotel costs for hurricane evacuees ap.google.com 9/5/8 ["The federal government says it will pay hotel expenses for some of the nearly 2 million people who fled their homes ahead of Hurricane Gustav, but exactly who will be eligible for assistance and how much it will cost taxpayers is uncertain.  ...Some evacuees also wondered whether FEMA would cover their lost wages and other expenses after they return to New Orleans."]
 

Suit to stop NY recognizing gay marriages is dismissed newsday.com 9/4/8 ["A state Supreme Court judge in the Bronx yesterday upheld Gov. David A. Paterson's order that state agencies recognize same-sex marriages performed and sanctioned elsewhere, dismissing a lawsuit asserting the governor had overstepped his authority."]
A Milestone for Gays, A Boon for Massachusetts washingtonpost.com 9/4/8 ["The recent changes have prompted a flood of gay New Yorkers coming to Massachusetts to get married -- and that seems to have made same-sex marriage big business for the Bay State."]
British Government Chooses Hitler-Loving Abortion Movement Pioneer for Stamps lifesitenews.com 9/4/8 ["Marie Stopes, the notorious early 20th century contraception campaigner, eugenicist and anti-Semite, did for Britain what Margaret Sanger did for the US: preached the doctrines of eugenics and promoted contraception and sterilisation to achieve "racial hygiene.""]
GMAC to cut 5,000 jobs at ResCap mortgage unit reuters.com 9/4/8 ["...and close all 200 GMAC Mortgage retail offices to combat weak housing and credit markets, the company said on Wednesday.  ...GMAC said it will stop offering home loans through its Homecomings Financial broker channel."]
Commodity hedge fund collapses iht.com 9/4/8 ["...could be more bad news for Lehman Brothers, which took a 20 percent stake in the hedge fund manager in 2005.  One expert said the closure of the fund, which at the time of the letter's writing had lost 38.59 percent this year, may also have played a role in bringing down U.S. stocks on Tuesday, which fell after initially climbing more than 1 percent. Lehman shares were down more than 3 percent in after-hours trading."]
Iranian air force announces extensive drill ynetnews.com 9/4/8 ["Islamic republic's chief of staff declares air force to hold wide-scale exercise 'to display the ability and strength of those defending Iran's skies.' New fighter jets to be presented throughout year  ...Salhi spoke on the backdrop of fears in the West that Russia will provide Iran with an advance Russian S-300 missile system should the US work to include Georgia and Ukraine in NATO."]
Brazil Admits Strange "Vaccination" Program Will Cause More Life-Threatening Reactions than Birth Defects Prevented lifesitenews.com 9/4/8 ["With two people in "serious" condition following reception of the rubella vaccine during Brazil's massive inoculation campaign, government authorities have admitted an adverse reaction rate that should cause a total of 70 such illnesses during the course of the campaign."]
Russia will complete Iran nuclear plant afp.google.com 9/4/8 ["A visiting delegation from Russia's state-run Atomstroiexport pledged to "abide by the working agenda by providing the necessary experts... and sending the necessary equipment for the power plant in time," according to a joint statement with Iran's Atomic Energy Organisation carried by IRNA."]
U.S. to give $1B in aid to Georgia usatoday.com 9/4/8 ["The package, some of which will require congressional approval, will be a substantial U.S. investment in Georgia but is only half the $2 billion a year in assistance Washington provides its closest Mideast ally, Israel."]
Spanish region prepares pioneering euthanasia law afp.google.com 9/4/8 ["The local government of Spain's southwestern region of Andalucia said Wednesday it was preparing a pioneering euthanasia law which would allow terminally ill patients to refuse medical treatment and make it illegal to keep someone alive by artificial means."]
The Road to a Bailout They Don't Deserve washingtonpost.com 9/4/8 ["...it should be no surprise that when Congress returns next week, the companies and their unions will put on a full-court press to win approval for $50 billion in federal loans to be used to re-engineer and retool their plants for a new generation of energy-efficient vehicles.  With the auto-dependent states of Michigan, Ohio and Indiana up for grabs in November, the Big Three hope to use the political calendar to their full advantage."]
Google Chrome's Fine Print Spurs Privacy Concerns toptechnews.com 9/4/8 [""There are some questions about exactly what the browser is capturing. The licensing agreement says it is sending everything you type back to Google so it can better find searches. But are folks going to be comfortable with that?" asked Michael Gartenberg, vice president of mobile Relevant Products/Services strategy for Jupitermedia."]
 

Brazilian Homeschoolers Score Surprise Victory in Showdown Against Government lifesitenews.com 9/3/8 ["In a surprise victory against government officials who sought to prosecute a homeschooling family for refusing to participate in the public school system, David and Jonatas Nunes have passed tests proving a high level of knowledge in a variety of subjects, including history, the natural sciences, the arts, sports, computing, and mathematics."]
Face Recognition in Picasa May Give Google More Data newsfactor.com 9/3/8 ["Google's new version of its Picasa photo-sharing application offers facial recognition. While Picasa's new feature won't challenge commercial companies, it lets users add names and could give Google a way to recognize people and deliver more sophisticated advertising. For now, an analyst said, the feature could be useful for background checks."]
Monsoon misery spreads in India; people, rhinos flee reuters.com 9/3/8 ["In Bihar, the floods have already displaced about three million people and killed at least 90."]
Putin vows 'an answer' to NATO ships near Georgia ap.google.com 9/3/8 ["Prime Minister Vladimir Putin said Tuesday that Russia will respond calmly to an increase in NATO ships in the Black Sea  ...Russia has repeatedly complained that NATO has too many ships in the Black Sea. Foreign Ministry official Andrei Nesterenko said Tuesday that currently there are two U.S., one Polish, one Spanish and one German ship there."]
Did corporate lawyers put kibosh on 'Mythbusters' RFID episode? news.cnet.com 9/3/8 ["...Mythbusters co-host Adam Savage was asked why the show hasn't tackled the technology behind the security limitations of RFID."]
 

Russia claims its sphere of influence in the world iht.com 9/2/8 ["Russia, he said, would observe international law. It would reject what he called United States dominance of world affairs in a "unipolar" world. It would seek friendly relations with other nations. It would defend Russian citizens and business interests abroad. And it would claim a sphere of influence in the world."]
US thrifts' lost $5.4B in 2Q, second largest ever ap.google.com 9/2/8 ["Data from the U.S. Office of Thrift Supervision released Wednesday show federally-insured savings and loan institutions posted their second-largest quarterly loss ever in the April-June period, after the $8.8 billion loss in the fourth quarter of last year. Heavily focused on mortgage lending, thrifts have been stung by mounting home-loan defaults."]
Hard times hitting American students and schools in double blow iht.com 9/2/8 ["With mortgage foreclosures throwing hundreds of families out of their homes here each month, dismayed school officials say they are feeling the upheaval: record numbers of students turning up for classes this fall are homeless or poor enough to qualify for free meals.  ...In Mobile, Alabama, the number of homeless students tripled to about 2,500 at the end of the last school year from 850 in the 2006-7 term.  ...Officials in districts in a half-dozen states reported similar surges."]
Storm Ike forms, seen growing into hurricane uk.reuters.com 9/2/8 ["Tropical Storm Ike, the ninth of a busy Atlantic hurricane season, formed on Monday midway between Africa and the Caribbean and was expected to grow rapidly into a hurricane that could threaten the United States or the Caribbean."]
Russian bombers fly in Europe's far north afp.google.com 9/2/8 ["...Russian bombers have returned to the skies in Europe's far north after years of absence, putting NATO's jet fighters on alert once again.  ...the number of emergency take-offs leapt to 47, with a whopping 88 Russian planes "identified".  The increase appears to be largely due to a decision by then-president Vladimir Putin to relaunch strategic bomber flights "on a permanent basis"."]
Look into the crystal ball: future being revealed as Vermont town lifts ban on fortunetelling newsday.com 9/2/8 ["Last year in Philadelphia, city inspectors shut down more than a dozen psychics, astrologers and tarot-card readers after discovering a decades-old state law that still bans fortunetelling for profit.  Also last year, Louisiana's Livingston Parish made soothsaying, fortunetelling, palm reading and crystal-ball gazing illegal  ...Other laws are on the books or have been challenged in Nebraska, Tennessee, Florida, North Carolina and Oklahoma..."]
 

America – A Place Where Demons Gather! lasttrumpetministries.org 9/1/8 [By Pastor David Meyer  "We must remember that Daniel, chapter seven, tells us of the four beasts that rose up from the Great Sea (Mediterranean) as world empires. They were Babylon, Medo-Persia, Greece, and Rome. The third, the Grecian Empire, was launched by Alexander the Great of Macedonia in Northern Greece. We also know that French President Nicolas Sarkozy recently visited Greece and that his grandfather was a Greek Jew born in the same area in Macedonia where Alexander the Great was born. Now Sarkozy is unifying the Mediterranean nations. We must remember that in the very last days before our Saviour returns, there will arise a new composite beast out of the Mediterranean Sea."]
California plans to drug depressed patients to death worldnetdaily.com 9/1/8 [""AB 2747 allows a physician assistant or a nurse to opine that a patient is 'terminal,' and then push for unnatural death by 'palliative sedation,'" said Randy Thomasson, chief of the Campaign for Children and Families shortly after the vote."]
China quake kills 32, damages quarter million homes reuters.com 9/1/8 ["The U.S. Geological Survey put the magnitude of the quake at 5.7, while Xinhua said it measured 6.1. A slightly smaller aftershock hit around 24 hours later, but there were no immediate reports of further damage."]
Gustav May Hit Gulf Platforms Harder Than Katrina bloomberg.com 9/1/8 ["Fields in the Gulf produce 1.3 million barrels a day of oil, about a quarter of U.S. production, and 7.4 billion cubic feet a day of natural gas, 14 percent of the total, government data show. Hurricane Katrina in 2005 closed 95 percent of regional offshore output and, along with Hurricane Rita, idled about 19 percent of U.S. refining capacity."]
More pain ahead as asset writedowns reach 503 bln dollars: BIS afp.google.com 9/1/8 ["In late June, the BIS had warned that the global economy could be heading into an unexpectedly severe downturn, blaming cheap lending. For the BIS, the subprime mortgage market, or credit given to borrowers with poor credit ratings, was not a root cause of the turmoil, but a trigger. The real culprit, it said, was simply lax credit. "]
Beyond A Fiery Gate Lies Our Destiny newswithviews.com 9/1/8 [By Jim R. Schwiesow  "God’s wrath is poised to be poured out upon this world with a fullness of fury and the United States will be the first to fall, while its English speaking allies will either fall simultaneously or succumb to similar judgment in quick succession."]
Gustav's possible economic hit is widespread washingtonpost.com 9/1/8 ["The Louisiana Chemical Association said Sunday that most of the 40 to 50 chemical plants in hurricane-vulnerable areas had shut down before the storm's arrival. Edward Flynn, the trade association's safety-security director, said 20 to 25 percent of domestic chemicals are manufactured in Louisiana."]
Integrity Bank Becomes 10th U.S. Failure This Year bloomberg.com 9/1/8 ["Integrity Bank of Alpharetta, Georgia, was closed by U.S. regulators today, the 10th bank to collapse this year amid a surge in soured real-estate loans stemming from the worst housing slump since the Great Depression.  ...the company had been trying without success for at least eight months to raise $40 million after loans to residential and commercial developers were hurt by the collapse of the real estate market."]
Moody's Reviewing All 2006, 2007 Jumbo Mortgage Bonds bloomberg.com 9/1/8 ["...stepping up scrutiny of all prime-jumbo mortgage securities issued in 2006 and 2007 as the surge in U.S. foreclosures spreads beyond subprime loans.  Moody's is studying its rankings on the securities after late payments started increasing more quickly in recent months..."]
Picture: Vladimir Putin 'shoots' tiger, dismisses EU leaders timesonline.co.uk 9/1/8 ["The Russian Prime Minister – shown in new macho-style pictures apparently tranquilising a tiger...  Analysis say that Russia’s role as a supplier of more than a quarter of Europe’s gas makes tough EU action unlikely at the summit.  The emergency summit is a test of unity for the EU, which struggles to reconcile differences between states which want punitive action and others, including European heavyweights France and Germany, which favour a more calibrated approach. "]
Iran warns any attack would start 'world war' breitbart.com 9/1/8 ["...warned that any US or Israeli attack on the Islamic republic would start a new world war, the state news agency IRNA reported on Saturday."]