Some links worth looking at
Bernanke Warns of "Rapid and Painful Response to a Looming Fiscal Crisis" - Make no mistake, the financial debacle the US and the world faces was magnified 10 times by loose monetary policy of the US Federal Reserve Bank combined with legislation changes and deregulation. I am disgusted that Mr. Bernanke is already trying to position to pass the pending issue as congress, with no responsibility.
New York Mayor Seeks Pension Overhaul; New Jersey Governor Tells Unions "Sue Me" Over Pension Cuts
China's Borg Assimilation Strategy Part II: the "Honeytrap" the "Lamprey" and the "Mushroom Factory"; Seduced by China
Governor Cuomo Declares New York "Functionally Bankrupt", Seeks Spending Cuts; California Governor Jerry Brown Cites Egypt, Demand Tax Hikes
Fed Excess Reserve Cumulative Deficiency Hits Record - Some pretty scary graphs here, but the Federal reserve could buy 2 trillion, 20 trillion, 1,000 trillion and the US dollar can't be broken.....or maybe not? ;)
Inflation and Popular strife - nice at-a-glance view of rising costs, from WSJ
JPMorgan risk officer warned on Madoff as possibly running ponzi scheme - not good news for JPMorgan. I wonder why they ignored the warnings.....maybe it has to do with executive bonuses with no future ties to future earnings.....nah....just an oversight.