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Things not looking good for Wall Street.

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Well, where to begin. It's obvious to all that things are not good on Wall Street. The Dow dropped 500 points today, which is not the story, but rather a headline that may grab some peoples attention. Lehman Brothers was allowed a tragic death without any government interference, for the first time in this whole mess the Government and our Non-Governmental private controlling  Federal Reserve have allowed market forces to take place. I applaud them for that, though, they couldn't resist earlier involvement in Bear Stearns, or CountryWide, which were just as much a mess. Bank of America gobbled up Merril, no suprise there as the CEO seems obsessed with creating the largest monolithic Bank that is legally possible, and there huge deposit base, allowed him to do that. I think the term "to big to fail" really applies to Bank of America now, they've swalled CountryWide and Merrill, along with some smaller acquistions in the past few years, they now hold over 10% of all deposits on the books, and control CountryWide, and Merrill, that is a lot of power in the hands of a few men.

Last Updated ( Tuesday, 16 September 2008 01:06 ) Read more...
 

Government must have Probable Cause to get cellphone location history

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In a move that protects citizens privacy rights, Judge Terrence F. McVerry of the Western District of Pennsylvania, rejected the governments argument that they have a right to cellphone tower data, which could be used to track a cellphone anywhere, raising privacy concerns. Instead the government bust obtain a warrant thus must prove probably cause.

Last Updated ( Tuesday, 16 September 2008 01:06 ) Read more...
 

Bush approves attacks inside Pakistan.

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According to the BBC George W. Bush has authorised the US military to enter Pakistan and conduct raids against the stated wishes of Pakistans government. 

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Sarah Palin ABC interview.

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Sarah Palin was interviewed by ABC she stated she believes she has enough experience from her experiences in Alaska. Also that,she never hesitated to accept the VP position, stating that her mission is reforming the government, and winning the war She stated that her close proximity to Russia counts as foreign policy experience, and that her experience with Oil and energy in Alaska, contributes to her foreign policy experience. 

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Brazil, and Argentina remove U.S. Dollar as Intermediate

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Brazil and Argentina will stop using the U.S. dollar as an intermediate in trade. Instead they have agreed to use reais and pesos this move will eliminate the exchange fluctuations incured previously by using the US dollar. 

Further it is hoped that by making trade simpler more businesses will export more to their neighboring countries.  

Last Updated ( Thursday, 11 September 2008 00:23 ) Read more...
 


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