Global News (02/23/09)

Air America Poll: 90% Want Bush Crimes Investigation (Huffington Post)

Secret US unit trains commandos in Pakistan (IHT):
BARA, Pakistan: More than 70 United States military advisers and technical specialists are secretly working in Pakistan to help its armed forces battle Al Qaeda and the Taliban in the country’s lawless tribal areas, American military officials said.

America unmasked: The images that reveal the Ku Klux Klan is alive and kicking in 2009 (Independent):
These images show members of the Ku Klux Klan as they want to be seen, scary and secretive and waiting in the wings for Barack and his colour-blind vision for America to fail. Anthony Karen, a former Marine and self-taught photojournalist was granted access to the innermost sanctum of the Klan. He doesn’t tell us how he did it but he was considered trustworthy enough to be invited into their homes and allowed to photograph their most secretive ceremonies, such as the infamous cross burnings.

Jail the men who stole our economy, demands former DPP (Daily Mail):
Britain’s former chief prosecutor has attacked Labour’s record on tackling financial crime and declared that fraudulent bankers are more of a danger to society than terrorists.

Economic crisis ‘is as bad as they come’ (San Francisco Chronicle):
“The global economy is now literally in free fall as the contraction of consumption, capital spending, residential investment, production, employment, exports and imports is accelerating rather than decelerating,” Roubini wrote.

Desperate Gordon Brown plans £500billion bank gamble (Telegraph):
A £500 billion banking bail-out will be at the centre of a rescue package announced by Gordon Brown this week amid desperation over the Government’s failure to save the economy.

Billions to be pumped into Northern Rock (IHT):
LONDON (Reuters) – The government will inject billions of pounds into state-owned Northern Rock bank to try to unlock lending and help the economy emerge from recession, Chancellor Alistair Darling said on Monday.

World Financial System In A State Of Insolvency (Financial Forecaster):
The global financial system is in a tailspin and world leadership in Europe, china, Japan and the US act like the situation is some temporary breakdown. The system is beyond saving and the elitists planned it that way.

When Consumers Cut Back: A Lesson From Japan (New York Times):
“Japan is so dependent on exports that when overseas markets slow down, Japan’s economy teeters on collapse,” said Hideo Kumano, an economist at the Dai-ichi Life Research Institute. “On the surface, Japan looked like it had recovered from its Lost Decade of the 1990s. But Japan in fact entered a second Lost Decade — that of lost consumption.”

Police fear UK ‘summer of rage’ (BBC News):
Police are preparing to face a “summer of rage” in the UK as people join protests over the economic downturn, says a senior Met Police officer.

“Stress tests” for big banks to begin this week (Seattle Times):
(…and the poor banks will need another big bailout of taxpayers’ money, so that they can lend the money back to the people.)

– Nouriel Roubini: ‘Nationalize’ the Banks (Wall Street Journal)

US government eyes large stake in Citigroup (Telegraph)

Citigroup’s Clever Plan To Screw Taxpayers Again (The Business Insider)

Tony Blair cashing in after launching economic advice firm (Telegraph):
Tony Blair is to cash in on his experience as prime minister after establishing a business offering clients political and economic advice.

Dubai’s $10 billion bailout (CNN Money):
United Arab Emirates steps in and buys half of the country’s $20 billion long-term bond offering.

Airbus exec: Planemaker wants more government aid (USA Today):
DUBAI, United Arab Emirates (AP) — A senior Airbus official says the plane maker wants financing help from other European governments following a $6.4 billion aid package from France last month. The company’s Middle East president, Habib Fekih, says the euro 5 billion that Paris pledged is “not enough.”

VW Halts Production As Car Crisis Deepens (Deutsche Welle):
Europe’s biggest carmaker has introduced short-time work for the first time in 25 years.
Some 61,000 VW workers in five different plants have been given an enforced five-day break in response to poor sales forecasts.

Brown: World needs ‘global New Deal’ (CNN):
“We need a global New Deal — a grand bargain between the countries and continents of this world — so that the world economy can not only recover but… so the banking system can be based on… best principles,” he said, referring to the 1930s American plan to fight the Great Depression.

IMF emergency fund is doubled to $500bn in global rescue effort (Guardian):
European leaders yesterday agreed that an emergency IMF fund should be doubled to $500bn prevent the worldwide recession turning into a fullscale depression.

Thai Economy Shrinks More Than Expected on Exports (Bloomberg):
Southeast Asia’s second-biggest economy contracted 4.3 percent in the three months ended Dec. 31 from a year earlier, and may shrink by at least that much in the first quarter, the government said today.

Up to 20000 jobs will go as RBS chief prepares to sell off unwanted assets (Times Online):
Royal Bank of Scotland will embark this week on a radical plan to split itself in two as it cuts tens of thousands of staff across the globe and confirms the biggest annual loss in British corporate history.

SFCG Files for Bankruptcy With 338 Billion Yen Debt (Bloomberg):
SFCG, which focuses on loans to small businesses, listed 338 billion yen ($3.6 billion) in liabilities, making it the biggest bankruptcy by a publicly traded Japanese company in almost seven years. The firm owed Citigroup 71 billion yen as of July 31, according to a filing by SFCG on Oct. 27.

China prepares to buy up foreign oil companies (Telegraph):
China is preparing to open a new phase in its race for the world’s resources by using its huge currency reserves to buy foreign oil and gas companies.

US stocks on course for 11-year low (Financial Times)

Nigerian Accused in Scheme to Swindle Citibank (New York Times)

Tourists targeted in Cairo market bombing (Independent):
Terrorism returned to the streets of Egypt’s capital, Cairo on Sunday when a bomb tore through a crowded market, killing a French tourist.

Thousands of foreign workers exploiting British jobs market (Telegraph):
The number of workers taking advantage of ‘intra-company transfers’ has increased by almost half in four years.

Amnesty calls on US to suspend arms sales to Israel (Guardian):
Hellfire missiles and white phosphorus artillery shells among weapons used in ‘indiscriminate’ attacks on civilians, says human rights group

Probe finds Army charity is hoarding millions (MSNBC):
Military’s biggest charity is stockpiling cash, rather than using it for aid

Soldiers still waiting for tour bonuses (USA Today):
WASHINGTON — The Pentagon has not started complying with a law requiring the payment of monthly bonuses of up to $500 to soldiers forced to remain on active duty beyond their enlistment period, military officials said.

Colombian wiretap scandal grows (BBC News):
The director of Colombia’s secret police, Felipe Munoz Gomez, says he has the letters of resignation from the entire high command.

British Muslims ‘providing Taliban with electronic devices for roadside bombs’ (Telegraph):
British Muslims are providing the Taliban with electronic devices to make roadside bombs for use in attacks against British forces serving in southern Afghanistan, The Telegraph can disclose.

Iran’s First Nuclear Power Plant Set for Tests Before Launch (Washington Post)

Iraq faces a new war as tensions rise in north (Independent):
Violence between Iraqi Kurds and Arabs is threatening an all out conflict that could complicate US plans to withdraw troops

Australia bushfires: More than 100 evacuated as fresh blazes erupt in Melbourne (Guardian)

McDonald’s: No workers comp for employee shot protecting patron (Raw Story):
Fast food giant McDonald’s has denied workers compensation benefits to a minimum wage employee who was shot when he ejected a customer who had been beating a woman inside the restaurant.

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