Money Headlines

Could central banks have closed off credit globally in Nov & Dec 08, or did they just lie about it?

US Punk'd by Bailout?

Did America Get Punk'd on the Bailout?
By David Sirota, Campaign for America's Future. Posted Dec. 18, 2008.

David Sirota appeared on the bailout. Did we get punk'd? As progressive bailout critics have been saying since the current Wall Street bailout was first proposed, the answer is yes.

Minneapolis Federal Reserve reports, the major claims about a credit crisis that justified Congress cutting a trillion-dollar blank check to Wall Street were demonstrably false. And new data and reports show they remain demonstrably false.

G 20 ECB Dissent

G20's global cash splash infuriates European Central Bank
Ambrose Evans-Pritchard, Telegraph, London April 9, 2009

THE European Central Bank has launched a blistering attack on G20 plans to use the International Monetary Fund to pump liquidity into the world economy, calling it "pure cash creation" outside the normal mechanisms of control.

"This is helicopter money for the globe," said Jurgen Stark, the ECB's chief economist .......... "What is happening with the IMF is scandalous. They are going to lay waste to everything in this crisis as a result of political horse-trading." .......... Markets have been in confusion over the implications of the G20 deal .......... "lets governments take out an overdraft but also contains the seeds of a global currency."