Robert Hurley

Posts tagged with "economy"

GOP Sen. Lindsey Graham Says the Option of Nationalizing Banks Should Be on the Table

Monday, 16. February 2009, 07:56:42

Senate, GOP, Bank Nationalization, economy ...

A year ago, it would have been unthinkable: Sen. Lindsey Graham advocating a government takeover of private banks -- but that is exactly what he suggested today.

"I would not take off the idea of nationalizing the banks" from the table, Graham, R-S.C., told George Stephanopoulos on ABC's "This Week" program

"This idea of nationalizing banks is not comfortable, but I think we have gotten so many toxic assets spread throughout the banking and financial community throughout the world that we're going to have to do something that no one ever envisioned a year ago, no one likes," Graham said. "But, to me, banking and housing are the root cause of this problem. And I'm very much afraid that any program to salvage the bank is going to require the government.."

Red Cross warns of food riots over soaring prices

Wednesday, 28. May 2008, 04:33:21

let them eat sand, food prices, war, economy ...

I was planning on doing another post this morning before I went off to work, but then I saw this article, and knew I had to say something.

By BRADLEY S. KLAPPER, Associated Press Writer
Tue May 27

GENEVA - The Red Cross warned Tuesday of a possible surge in "food-related violence" because of soaring prices that are increasing hunger around the world.

Most of the debate surrounding the global food crisis has focused on boosting aid to poorer countries, but there is also concern about the potential for violence as people become desperate for food, said Jakob Kellenberger, president of the International Committee of the Red Cross.

Kellenberger, whose agency serves as the guardian of the Geneva Conventions on the rules of war, said fallout from rising prices has already sparked violence, alluding to food riots that erupted in Haiti, Egypt and Somalia.

It's not just a matter of higher prices, he said. "It becomes a question of survival, of just having access to food."

Because this post was of a more serious nature than I usually get into in this blog-- and because of the fact that I usually do considerably more research for my newsblog, Media Vulture, I decided to do my full report there, titled Let them eat sand.

Since I started my new job, which ends up consuming well over the normal 40 hours of work per week, I had to shape this story up in a hurry, so I'll ask you to forgive me if it's not the most well-crafted piece I've ever done there.

and btw... this thing about food riots spreading worldwide really has me quite upset.

(I've completely forgotten what I thought was so important when I left home this morning...)

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