Why Italy faces a derivatives time bomb

Reuters | Financial markets are gripped by the role derivatives have played in Greece’s debt crisis, but Italy also has a derivatives time bomb, and hundreds of cities are in the €24-billion blast zone.

U.S. Taxpayers on Hook for $5 Trillion of Fannie, Freddie Debt… No Matter What Barney Frank Says

Aaron Task | House Financial Services Chairman Barney Frank caused a bit of an uproar Friday when he suggested the U.S. government does not guarantee the debts of Fannie Mae and Freddie Mac.

Gold To Soar Against Depreciating Currencies

Prison Planet.com | Precious metal hits record against Sterling and Euro as continuing financial crisis eviscerates value of paper money.

Economists Warn Another Financial Crisis On the Way

march 2, 2010 ABC News By Matthew Jaffe Even as many Americans still struggle to recover from the country’s worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators. In

Goldman Sachs Probed Over Crisis in Greece

February 26, 2010 Financial Times By Alan Rappeport and Tom Braithwaite in Washington and David Oakley in London The US central bank is looking into Goldman Sachs’s role in arranging contentious derivatives trades for Greece, which helped the country to massage its public finances, Ben Bernanke, chairman of the Federal Reserve, revealed on Thursday. “We are looking into a

US senator warns of ‘financial meltdown’ risk

Financial Times | The US is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg, the outgoing Republican senator for New Hampshire.

Greenspan: Worst Financial Crisis EVER, INCLUDING the Great Depression

Washington’s Blog | Greenspan just said that the current credit crunch is “by far the greatest financial crisis, globally, ever” — including the 1930s Great Depression.

Greenspan: Worst Financial Crisis EVER, INCLUDING the Great Depression

Washington’s Blog | Greenspan just said that the current credit crunch is “by far the greatest financial crisis, globally, ever” — including the 1930s Great Depression.

Texas ordered to destroy five million blood samples illegally taken from babies without consent

(NaturalNews) The subject of a recent federal lawsuit, routine blood samples legally taken from Texas newborns to screen for disorders and diseases were illegally being kept by the Texas Department of State Health Services without parental consent. Found to have begun holding and retaining such blood samples since 2002, the agency is being sued on behalf of the children’s parents by the Texas Civil Rights Project. Legislation passed in May 2009 allows for blood samples to be retained indefinitely but allows parents to opt out if they wish to do so. However the lawsuit maintains that all blood samples obtained prior to the legislation be destroyed in cooperation with the law at that time. While the Health Department has agreed to destroy the samples, which have been preserved as blood spot cards, it is requesting permission to keep the blood samples of 400 children whose blood tested positive for certain atypical disorders. The lawsuit is demanding no financial restitution for the state’s crimes, citing only privacy concerns and the principle of …

Wall Street’s Bailout Hustle

Rolling Stone | Blankfein addressed his plan to pay out gigantic year-end bonuses amid widespread controversy over Goldman’s role in precipitating the global financial crisis.

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