"Banks Kaput" Special
705P ET: Adrienne Wooldridge, Economist, with Simon Constable, Dow Jones Newswire, re the Obama first week, re the inaugural speech is knocked by Paul Krugman as conventional, ambiguous, bromide, re the stimuls package as a Democrat birthday list saved up over twenty years, re the collapse of capitalist confidence in Europe and the US. Falling Pound Raises Fears of Stagnation - New York Times The Paradox of Keynesianism
720P: Larry Kudlow, CNBC, re the hostile divorce of Ken Lewis of BoA and John Thain of Merrill over bad numbers and miscommunication, re the stimulus package at $850 billion, re the stimulus package with distortions of spending and mysteries of tax breaks, re Paul Krugman says not enough.
735P: Professional Roundtable Jodi Schneider, CQ, Mona Charen, NRO, John Fund, Wall Street Journal, re the Obama first week, re the GITMO closing order, re what is the fate of KSM and his kindred of Cain, re Mrs. Clinton takes command at State, re Caroline Kennedy and Pinch Sulzberger, David Paterson chooses.
750P: Continued re the $850 billion stimulus package so far, re the Coleman vs Franken bout comes to town through the winter.
805P: Aaron Lucchetti Wall Street Journal, with Simon Constable, Dow Jones Newswire, re the continuing pursuit of how many people helped Bernie Madoff steal billions all by himself, re Mrs. Madoff was completely ignirant of the theft despite the fact that she kept some part of the accounts, Prosecutors Focus on Madoff's Point Man
820P: Malcolm Hoenlein, Conference of Presidents Major Jewish Organizations, re the withdarwal from Gaza and the border smuggling, re the new Secretary of State and the old envoys iof Dennis Ross and Richard Holbrooke, with George Mitchell designated to Palestine, re the Obama calls to Abbas, Mubarak, Olmert.
835: Financial Roundtable, with Tom Donlan, Barron's, John Tamny, RealClearMarkets.com, Simon Constable, Dow Jones, Aaron Task, Yahoo Finance, re the banking sector in London deteriorates swiftly, re the Royal Bank of Scotland is Citi on a loch, re the Geithner remark that the PRC manipulates its currency. Re the stimulus package proposal from David Obey website: See A Summary of the Bill See an Economic Analysis Supporting the Bill See the Bill Text / See the Report Text The Right & Wrong Way to Bail Out Banks - George Soros, Financial Times
850P: Continued, re the Asia economies plunge into recession, re the stimulus packages in Europe, re Nouriel Roubini says that the US banking debts and obligations exceed the assets by $2 trillion. The Fed Looks Like One More Shaky Bank - Jim Jubak, MSN Money Recession Britain All washed up. Hopes dashed for swift UK recovery. Eurozone as recession bites.
905P: Aaron Klein, WND, re the Gaza withdrawal, re the emergence of the Hamas military wing intact, re the accurate casualties from Gaza, the the Egyptian smuggling routes reopen.
920P: Norman H. Gershman, author "BESA: Muslims Who Saves Jews in World War II," astonishing testimony and photographs of the people who sheltered JEws in Albania during the Second World War. "We lived with the Koran's teaching to take care of the other." -- Mehmet Yshref Frahseri
935P: Robert P. Crease, author, "The Great Equations: Breakthroughs in Science from Pythagoras to Heisenberg."
955P: Exeunt re Bob Zimmerman, author "Universe in a Mirror," re the new NASA chief, re the Russians drop space tourism.
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705P PT: Michael Vlahos, author, "Fighting Identity -- Sacred War and World Change," re the new administration and the war, especially in Afghanistan and Iraq, re the closing of Gitmo as symbolic language. "We follow the path of other leaders in earlier globalization epochs, whose untiring efforts against non-state communities and movements only accelerated the very change they most feared. Like Rome we become a critical participant in the next human transformation."
720P: Jim Carlton, Wall Street Journal, with Simon Constable, Dow Jones Newswire, re the plunging housing market as the builders see the retreat continuing through 2009, re what this means for the recovery, Builders Predict More Housing Pain
735P: Professional Roundtable with with Diana West, author, Larry Johnson, No Quarter and State (ret), Margaret Hoover, FNC, re the Inauguration, re the GITMO decision to close the facility and redistribute the inmates, re the voiding of Justice decisions since September 11, 2001, re the war continues as a military operation or as a law enforcement operation?
750P: Continued re new Secretary of State, the old envoys Ross, Holbrooke, Mitchell.
805P: Professional roundtable with Bill Whalen, Jim McTague, John Avlon, re the stimulus package. See A Summary of the Bill / See an Economic Analysis Supporting the Bill See the Bill Text / See the Report Text * *
820P: Continued re the greatest threat to the economy since the great depression and the greatest opportunity for the federal government since FDR and the New Deal. The Struggle For the Soul of Capitalism - Benjamin Barber, The Nation
835P: Ben Cohen, blogger, "Z Word Blog," re the Gaza fighting and the challenge for Israel with Hamas, re the Qaddafi peace proposal of one-state solution, new administration and George Mitchell and even-handedness - what does this mean?
850P: Claudia Rosett, Forbes.com, "The New Anti-Smeitism," ...From Britain, writing in The Wall Street Journal Europe, social critic Melanie Phillips describes a demonstration at which Hamas supporters showed up dressed as "hook-nosed Jews pretending to drink the blood of Palestinian babies."
905P: Jim Rogers, author, "Bull in China," from the Gulf, with Simon Constable, Dow Jones Newswire, re the collapse of the British pound, re the banking crisis in the UK, re the banking crisis in the US. Is this the end of Old Blighty?
920P: Joseph Sternberg, Asia Wall Street Journal, re thetainted milk scandal and the death sentence in Bejing, re the possibility of protectionism as safety and enviromental concerns.
935P: Michael Korda, author, "With Wings of Eagles: A History of the Battle of Britain," re the drama of June, July, August and September 1940, when Adolf Hitler and Herman Goering threw the Luftwaffe against England to destroy the RAF and prepare the way for the invasion, Operation Sea Lion, re one special stubborn visionary, Chief Marshal Sir Hugh Dowding, who saved England with his imagination to conceive the air defense.
955P: Exeunt re the David Obey website markup of the stimulus package, re the "green" theme.
Published: January 22 2009 02:00 | Last updated: January 22 2009 02:00 The pound is a currency with no underpinning and should fall against the dollar and the euro, says Jim Rogers, chairman of Rogers Holdings and co-founder of the Quantum Fund with George Soros. He says his view reflects the UK's dire economic situation: "It's simple. The UK has nothing to sell." Mr Rogers says the two main pillars of support for sterling have been North Sea oil and the strength of the UK financial services sector, in particular, the City of London's role. But Mr Rogers says just as North Sea oil is running out, so London's standing as a financial centre is set to suffer: "I don't think there is a sound UK bank now. At least, if there is one I don't know about it." "The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the west?" says Mr Rogers. Mr Rogers thinks the pound is more vulnerable than the dollar or the euro. He says the UK housing market is arguably in a worse state than that of the US, given pockets of strength in the US and prices that are sliding across the board in the UK. Meanwhile, he says, the UK is in worse shape economically than the eurozone, where most countries are not big debtors and do not run huge trade deficits. "If the UK discovers more North Sea oil, I might change this view," he says. "But I don't see that happening."View of the Day - Jim Rogers, Rogers Holdings
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