Fannie, Freddie Kept Off Budget, Dividends Counted (Update3) - By Dawn Kopecki (4/2/10) PDF Print E-mail
Dawn Kopecki   
Thursday, 04 February 2010 09:01

Bloomberg

President Barack Obama’s budget blueprint for the next fiscal year excludes the $6.3 trillion in liabilities of government-controlled Fannie Mae and Freddie Mac and delays for a second time a decision on restructuring the mortgage-finance companies that were seized 17 months ago.

The companies may need $54.4 billion more in U.S. Treasury Department preferred stock purchases to stay afloat in the current year that ends Sept. 30, and $23 billion more for the next fiscal year, according to calculations made from the Obama administration’s 2011 budget proposal to Congress today.

“The administration continues to monitor the situation of the GSEs closely and will continue to provide updates on considerations for longer-term reform of Fannie Mae and Freddie Mac as appropriate,” the Obama administration said.



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What’s Next For The Dollar? - By Axel Merk (4/2/10) PDF Print E-mail
Axel Merk   
Thursday, 04 February 2010 08:57

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Mock This Campaign If You Like, But How Else Can Blair Be Held To Account? - With The Limits Of Power In Britain So Ill-Defined, The Only Way A Reckoning For Iraq Will Ever Come Is Via A Citizen's Arrest - By George Monbiot (4/2/10) PDF Print E-mail
George Monbiot   
Thursday, 04 February 2010 08:52

The Guardian, UK

What else can you do? When the entire administration is engaged in a criminal act, when there is no clear separation of powers between the government and the judiciary, when those appointed to hold the government to account are as scary as a litter of kittens, where do you turn? Do you appeal to the attorney general's office to prosecute itself?

The forensic failure of the Chilcot inquiry illustrates what we learnt from the banking scandals: self-regulation doesn't work. The independence of the inquiry is as stark a lie as any of the claims made by its star witness. In truth this panel of pussycats is a quango appointed and instructed by the prime minister, who will himself appear as a witness. If ever you needed more evidence that the power of the prime minister's office is insufficiently defined in the United Kingdom, here it is.



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UN Find Challenges Israeli Version Of Attack On Civilian Building In Gaza War - UN Team Find Remains Of Aircraft-Dropped Bombs, Contradicting Israeli Report On Military Conduct During Three-Week Conflict - By Rory Mccarthy (3/2/10) PDF Print E-mail
Rory Mccarthy   
Wednesday, 03 February 2010 14:50

Guardian, UK

A new Israeli report defending the military's conduct in the Gaza war was challenged tonight after evidence emerged apparently contradicting one of its key findings.

Israel submitted a 46-page report to the UN on Friday saying its forces abided by international law throughout the three-week war last year. It was meant to avert the threat of international prosecutions and to challenge a highly critical UN inquiry by South African judge Richard Goldstone, which accused both Israel and Hamas of "grave breaches" of the fourth Geneva convention, war crimes and possible crimes against humanity.



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Get It Gantz - By Roy Tov (3/2/10) PDF Print E-mail
Roy Tov   
Wednesday, 03 February 2010 14:47

The list is spectacular. Few countries have committed so many – and varied – crimes against humanity in such a short time and with such insane fervor. In recognition, the UN Human Rights Commission defined the State of Israel as a terrorist organization at the moment it accepted the Goldstone Report on October 16, 2009.

The Israeli Administration understood what was said there. Several important columnists in the Hebrew media clearly stated that the Goldstone Report is here to stay. The Israeli Administration wouldn’t be able to claim it is anti-Semitic propaganda or to throw false mud on Justice Goldstone. The Israeli Administration was denied its two favorite Weapons of Person-Destruction. But, what can’t be done anymore on the internacional arena is still fair play within the Israeli media.



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