Wednesday, October 08, 2008

SPB News for Wednesday.


American said subject to isolation, sensory deprivation in US brig.
Pakistan facing bankruptcy, West to discuss bailout in Abu Dhabi --Ali Zardari: Pakistan needs bail out worth $100 billion from international community Officially, the central bank holds $8.14 billion (£4.65 billion) of foreign currency, but if forward liabilities are included, the real reserves may be only $3 billion. Nine months ago, Pakistan had $16 bn in the coffers. The government is engulfed by crises left behind by [Bush's] Pervez Musharraf, the military ruler who resigned the presidency in August. President Asif Ali Zardari is expected to ask the international community for a rescue package at a meeting in Abu Dhabi next month. This gathering will determine whether the West is willing to bail out Pakistan

U.S. Debt Too Big for National Debt Clock The National Debt Clock, launched in 1989 when the nation's debt was less than $3 trillion, cannot keep pace with the growing national debt, now at more than $10 trillion. NBC News reports. (Video)

Pentagon denies reports about U.S. aircraft's landing in Iran The Pentagon denied news reports Tuesday that a U.S. military aircraft was forced to land in Iran after violating Iran's airspace. Pentagon Bryan Whitman said he hasn't "heard anything like that."

Immunity for U.S. troops, mercenaries a barrier in Iraq talks The United States' insistence that its troops and mercenaries remain immune from Iraqi law is a key obstacle to reaching a status of forces agreement, the Iraqi foreign minister said Tuesday. The status of forces agreement would define and govern U.S. military operations in Iraq, including criminal and civil jurisdictions. Iraqi Prime Minister Nuri al-Maliki said he also wanted the United States to refrain from military operations in Iraq without the prior approval of the Iraqi government. The two sides also disagree over how long detainees can be held, al-Maliki said.

US anger at Guantanamo Bay ruling --Analysts say ruling is a rebuke for US government --White House said ruling could set a precedent that would allow "sworn enemies" to seek US entry The US has reacted angrily after a judge ordered that 17 Chinese Muslims held at Guantanamo Bay should be released into the United States. District Judge Ricardo Urbina said the US could not hold the 17 as they were no longer considered enemy combatants. Lawyers for the Bush regime have argued that federal judges do not have authority to order the release into the US of Guantanamo prisoners.

Pensions lose $2 trillion --Congressional budget analyst says many workers may need to delay retirement. Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday. The upheaval that has engulfed the financial industry and sent the stock market plummeting is devastating workers' savings, forcing people to hold off on major purchases and consider delaying their retirement, said Peter Orszag, the head of the Congressional Budget Office.

Bernanke Signals Fed May Cut Rates as Crisis Deepens Federal Reserve Chairman Ben S. Bernanke signaled policy makers are ready to lower interest rates as the credit freeze poses an escalating danger to the economy.

McCain proposes bailout for homeowners — Here are details of the plan Sen. John McCain (R-Ariz.) announced during Tuesday night's presidential debate “to keep families in their homes, avoid foreclosures, save failing neighborhoods, stabilize the housing market and attack the roots of our financial crisis”:

1 comment:

airJackie said...

We have money to burn. I don't blame Pakistan for asking for money look at what we gave AIG. Yes we gave AIG 85 Billion dollars and AIG's first action was to party and spend 400,000 dollars and not a dime to the investors. 800 Billion dollars to Paulson and the first line of business was pay outs to friends and of course Goldman Sachs got their billions. The Fed was given 900 billion without a vote as the first bank and only bank that got money is the one Daddy Bush sits on in Germany. So the taxpayers will have a total of 53 Trillion dollar debt to pay and the White House borrows money for future generations.