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U.S. panel backs FDIC borrowing, credit card reforms .
Tue Mar 31, 2009 2:04pm EDT
By John Poirier
Reuters

WASHINGTON (Reuters) - A key U.S. Senate panel on Tuesday backed proposals to reform credit card practices and increase the authority of regulators to borrow from the Treasury Department to deal with a slew of expected bank failures.
By a 12-11 vote, the Senate Banking Committee narrowly approved a bill aimed at cleaning up unfair and deceptive practices by credit card companies criticized for surprising customers with fees and unilaterally changing terms.
The bill, which was introduced by the committee's chairman, Christopher Dodd, also contains two provisions aimed at increasing the borrowing authority of regulators, the Federal Deposit Insurance Corp and the National Credit Union Administration. ( read more )

http://www.reuters.com/article/politicsNews/idUSTRE52U6D020090331


JOBS Gone Bye Bye or Friends & Family Benig Hurt .
Market Consensus Before AnnouncementInitial jobless claims for the May 9 week jumped 32,000 to a 637,000. The surge in claims likely reflected auto sector layoffs. But continuing claims were even worse for the May 2 week, soaring 202,000 to 6.560 million, the 17th straight rise and another record high.

The Tower of Basel: Secretive Plans for the Issuing of a Global Currency Do we really want the Bank for International Settlements (BIS) issuing our global currency.
By Ellen Brown
Global Research, April 18, 2009

In an April 7 article in The London Telegraph titled “The G20 Moves the World a Step Closer to
a Global Currency,” Ambrose Evans-Pritchard wrote:

“A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order.

“‘We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,’ it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.

“In effect, the G20 leaders have activated the IMF’s power to create money and begin global ‘quantitative easing’. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.”

Indeed they will. The article is subtitled, “The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.” Which naturally raises the question, who or what will serve as this global central bank, cloaked with the power to issue the global currency and police monetary policy for all humanity? When the world’s central bankers met in Washington last September, they discussed what body might be in a position to serve in that awesome and fearful role. A former governor of the Bank of England stated: ( read more at http://www.globalresearch.ca/index.php?context=va&aid=13239 )