Systemic failure

The financial crisis goes deeper than a declining housing market —
“Wall Street banks face ‘systemic margin call,’ Morgan warns,”
by Walden Siew, Reuters, March 8, 2008
See also
“Carlyle fund faces liquidation after missed margin calls,”
by Sean Farrell, 8 March 2008
Martin Weiss, “The Credit Collapse of 2008,”
March 10, 2008
And what the conspiracy theorists are saying about all this (good fodder for a novel anyway) —
“U.S. Prepares for ‘Doomsday’ Rule as British Forces Arrive in America,”
by Sorcha Faal

2 Responses

  1. This downturn will be bad for some but not fatal for the country.

  2. Greg Palast has lifted the curtain on the backside of the Carlyle Group’s bailout, and how it’s related to Eliot Spitzer’s recent problems. The Bush Junta’s hitmen are on the job, all right. Read it here:

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