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    Daily Digest – Feb 15

    by Davos

    Saturday, February 14, 2009, 9:12 PM

  • SEC?! Took 5 Minutes to figure it out
  • Markopolos Letter, 2005 (Repost)
  • Big Numbers (Hat Tip Patrick Brown)
  • Official Unemployment Rate, BLS Broadest and SGS Alternate (Shadow Stats)
  • Geithner Reassures G-7 on Bank Plan, Is Urged to Act (Update1) 
  • Laid-Off Foreigners Flee as Dubai Spirals Down
  • GM to Offer Two Choices: Bankruptcy or More Aid
  • Financial Sense News Hour February 14, 2009
  • Obama Presidential Address – 2/14/2009 (Video)
  • Recovery.gov 

Economy 

SEC?!?! Took 5 Minutes to figure it out

[video:http://www.youtube.com/watch?v=Ys83oEAlvkM&eurl=player_embedded]

Big Numbers (Hat Tip Patrick Brown) 

"The federal government is bankrupt," Williams told WND. "In a post-Enron world, if the federal government were a corporation such as General Motors, the president and senior Treasury officers would be in federal penitentiary." 

MarkopolusLetter, 2005 (Repost)

Official UnemploymentRate, BLS Broadest and SGS Alternate (Shadow Stats)

Geithner Reassures G-7 on Bank Plan, Is Urged to Act (Update1) 

Clear Answers 

Geithner answered questions from G-7 officials "very clearly," Finance Minister Christine Lagarde told reporters in Rome today. "On paper it looks great," said Lagarde. "The essential thing is now to implement it."

Bank of Italy Governor Mario Draghi was the most critical, saying the U.S. is "lagging in the implementation of the package."

More details on a public-private partnership to buy banks’ illiquid assets will be delivered in coming weeks, a U.S. official said in Rome on condition he not be named.  

Laid-Off Foreigners Flee as Dubai Spirals Down 

"I’m really scared of what could happen, because I bought property here," said Sofia, who asked that her last name be withheld because she is still hunting for a new job. "If I can’t pay it off, I was told I could end up in debtors’ prison." 

GM to Offer Two Choices: Bankruptcy or More Aid 

General Motors Corp., nearing a federally imposed deadline to present a restructuring plan, will offer the government two costly alternatives: commit billions more in bailout money to fund the company’s operations, or provide financial backing as part of a bankruptcy filing, said people familiar with GM’s thinking. 

The competing choices, which highlight GM’s rapidly deteriorating operations, present a dilemma for Congress and the Obama administration. If they refuse to provide additional aid to GM on top of the $13.4 billion already committed they risk seeing an industrial icon fall into bankruptcy. 

Financial Sense News Hour February 14, 2009 (3rd Hour, Part 1, 01:35 Minute Point Insolvent, 23+/- Minute Point, Currency Devaluations, 34+/1 Minute Point Growing Deficit Going Parabolic)

Oboma Presidential Address – 2/14/2009

[video:http://www.youtube.com/watch?v=RhpBqETZyOE&eurl=player_embedded]

Recovery.gov

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