Pennsylvania Student Loans Halted on Auction Failures 
By Adam L. Cataldo
Feb. 27 (Bloomberg) — The Pennsylvania Higher Education Assistance Agency, the second-largest seller of auction-rate debt for the past seven years, will stop making student loans next month after paying $24 million in extra interest.
The agency services and buys existing obligations and makes about [...]

Richard Cook’s tale of the national dividend is explored in this look into the future.
Finally: Economic Sanity Returns to America
by Richard C. Cook / February 28th, 2008
It started with the crash and depression of 2008-2009. Consumers had finally lost the ability to float global business with their credit cards and home equity loans.Finally even the politicians [...]

Looking into the Abyss — Feb 24, 2008

The Three Trillion Dollar War
Feb 23, 2008                                                                
The endless borrowing at endless interest for a seemingly endless number of years works as long as there is an endless amount of available credit; but can it continue?   Here is an estimate by Joseph Stiglitz and Linda Blimes of the London Times as to the real extent of the [...]

More bad news – and how to fix it

AMERICA’S ECONOMY RISKS THE MOTHER OF ALL MELT DOWNS…
     The Financial Times delivers the lowdown on the actual potential magnitude of America’s financial decline, based upon the formerly controversial (now operational)  12 step path to recession and melt down, as forecast in 2006 by Nouriel Roubini of the New York School of Business.

“Recently, Professor Roubini’s [...]

How to Start Your Own Bank

How to start your own bank:
 
http://www.financialsense.com/fsu/editorials/schoon/2007/0514.html
 
http://money.howstuffworks.com/bank5.htm
 
Idea: we get 6 investors with $100,000 each to become the directors.  Their $600,000 is the 10% needed to get started; we raise the other 90% by issuing stock.  That gives us capital of $6 million, enough to charter a bank.  Then we’re allowed to create and lend . . . $200 million!  [...]

Northern Rock Nationalized

In England, the government does not bail out bankrupt banks without some quid pro quo; it takes their stock . . .
LONDON – Britain’s treasury chief Alistair Darling said today that struggling bank Northern Rock PLC will be nationalized.
That after the government rejected two takeover bids.
Northern Rock ran into trouble in September because it relied [...]