Sep 26, 2008

The Daily Buzz - Anger & Fury Over This Ridiculous Wall Street Bailout Is Spreading

-A prestigious group of 192 economists, including Nobel Prize winners, has written a letter slamming the bailout.

-Reuters is reporting that a tsunami of anger is building over this financial crisis.

-BusinessWeek is reporting that the Internet has been flooded with anger about Treasury Secretary Paulson's proposed $700 billion bailout, and this anger is inspiring old-fashioned street protests.

-Is this bailout a $700,000,000,000 power punch?

-Meanwhile, banks and investment firms have ramped up their borrowing from the Fed.

-In the largest bank failure in U.S. history, Washington Mutual has been seized and sold off to J.P. Morgan Chase.

-U.K. banks hold 175 billion dollars of bad assets that could qualify for the U.S. bailout plan.

-The staggering incompetence of U.S. Treasury Secretary Henry Paulson is now being discussed in foreign papers.

-On another topic, check out this great article about giants in the ancient world.

-Lastly, hundreds of churches across the nation on Wednesday kicked off a 40 day fast to rally support for the California marriage amendment and to ask God to send revival.

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