Monday, September 14, 2009

September 14 2009 Travus T. Hipp Morning News & Commentary

"All The News You Never Knew You Needed To Know ...Until Now."

Cabale News Service

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President Obama is going to give a speech this morning admonishing the US financial industry to heed his reforms (An interesting comparison, based of word frequency, from the New York Times: "Obama's Speech: Obama '09 vs. Bush '08".)

The question is WHAT reforms?
Banks' appetite for risk is rebounding 1 year after crisis; Is the financial system any safer?


September 13, 2009

NEW YORK (AP) — A year after the financial system nearly collapsed, the nation's biggest banks are bigger and regaining their appetite for risk.

Goldman Sachs, JPMorgan Chase and others — which have received tens of billions of dollars in federal aid — are once more betting big on bonds, commodities and exotic financial products, trading that nearly stopped during the financial crisis.

That Wall Street is making money again in essentially the same ways that thrust the banking system into chaos last fall is reason for concern on several levels, financial analysts and government officials say.

There have been no significant changes to the federal rules governing their behavior. Proposals that have been made to better monitor the financial system and to police the products banks sell to consumers have been held up by lobbyists, lawmakers and turf-protecting regulators... [In Full]
Meanwhile... The working class get's 'worked'.

The Khyber Rifles, the troops who patrol the Khyber pass NATO resupply route for the Pakistani government have quit en masse... The pass is effectively closed down for Western purposes anyway because the cargo and fuel truckers want to live a relatively long life.

Muntadhar al-Zaidi,the Iraqi journalist who threw his shoes at EX-president George Bush, given three years in an Iraqi prison, has had his sentence reduced to 3 months but has not been released quite yet due to paperwork snafus. He may be released as soon as tomorrow.

The Honduran envoy has been "ordered out of the U.N. Human Rights Council after other Latin American countries said he represented an "illegal" regime". The US FINALLY got around to de-certifying all Honduran officials visas just recently as well.

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Recorded & transcribed by Da' Buffalo Amongst Wolves

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