Worst week ever on world markets

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Timothy Canova says its time to nationalize the big banks

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[kjpdqpb]

Bush and Cheney need to be held responsible for war crimes and betraying the Interests of the US among other things.

Unfortunately our other branches of government are feigning too weak and Unable to try them for anything. Its bullshit, all of it is bullshit. why can't we just be honest about it.

[wcarlpdrysdale]

chuck baldwin will end the F.E.D ;~}

[JackNeedles]

Conspiracy, maybe. Theory, no. The panic of 1907 eventually lead to the formation of the National Monetary Commission which was then the commission in 1913 that recommended the formation of the Federal Reserve Bank through the Federal Reserve Act. The same thing is happening today to bring in a new financial order. the big fish eat up the small fish and become more powerful. JP Morgan also engineered the Bear Stearns collapse.

[AlcasSin]

It's a Conspiracy Theory.

It was clearly caused by the run on banks durig a period of recession. If JP Morgan engineered run on bank then he was god.

JP Morgan stepped in to bail-out the financial system which was in the eve of systemic meltdown. Of course he profited from this. However 1907 panic was another run on bank before WWI. The panic of 1893 ended in 5 year depression.

Overextension of the financial system of unregulated banking system leads to this point. Every time.

[JackNeedles]

No, the panic of 1907 was caused by JP Morgan because it lead to important reforms such as the formation of the Federal Reserve system. That is why it was caused.

[AlcasSin]

Instead of reading Mises read Roubini.

So the "tulip bubble" in 17th century was also created by the government? Who caused this mess?

Panic of 1907 was also caused by non-existant Federal Reserve.

Give me break.

[AlcasSin]

@sollycardy

when gold was a legal tender world got long depression from 1873-96; shock of 1893 and panic of 1907. Got that?

The cure you offer is just more pain.

[investortownhall]

It was not the lack of regulation that caused this crisis - it was easy money and low interest rates combined with foolish lending practices. The Democrates wanted subprime lending to expanded and the Republican's used the expansion to tout growth in the economy. And investment bankers driven by money and political support to make foolish loans invented foolish investment practices to match foolish loans.

[zerosleep73]

Bravo Real News! You finally have an economist who knows his stuff. The last couple were not so good.  You should bring him back on frequenty!

[krammitAll]

everyone please ignore "ColonialsimisEvil". He or she is either a troller or someone who should be promptly ignored. I almost posted a reply... but what good would that do?

Here is a saying i try to use as a rule for posting. "Do not wrestle with a pig. You end getting dirty, and the pig enjoys it."

[yay1912]

Thats stupid