Current Headlines

Vigilant Citizen: Illuminati Videos Update Vigilant Citizen examines two recent music videos aimed at teens and pre teens, Willow Smith’s “Whip my Hair” and Rihanna’s “Who’s That Chick”, and finds both filled with Masonic symbolism and dark, subliminal messages More ...
A Turning Point Quietly Reached Meir Kahane, whose followers celebrated his genocidal ideas in the streets of Umm al Fahm only the other day, would be dancing with delight at the way things are turning out More ...
A CCTV Fuss About Nothing? Transcripts from the 7/7 Inquest reveal more questions than answers about how police knew what they did and when More ...
Sanctions on Iran aren't working, diplomat says New sanctions on Iran aren’t having the desired effect, according to an unnamed European diplomat More ...
The Yemen Hidden Agenda: Behind the Al-Qaeda Scenarios, A Strategic Oil Transit Chokepoint After the “crotch bomber’s” appearance late last year, Yemen has been in the forefront of activity in the “War on Terror”. William Engdahl looks at what may be the real reason behind the interest in this desolate part of the Arabian Peninsula More ...
Word From Ned Dougherty Nov 1, 2010 In 1982 Ned Dougherty survived a transformational Near Death Experience. Ever since he’s been receiving messages that have great relevance to today’s events with the latest being of special relevance to children and the young More ...
Nick Kollerstrom: The Jaguar at Luton Not many will believe that an Al-Qaeda operative drives a Jaguar. Especially one who acts as a ‘minder’ to four unwitting ‘patsies’. But as we shall see, on 7/7 there is evidence of just such a ‘minder’ guiding four ‘patsies’ to their deaths More ...
Richard C. Cook: Heaven and Hell on Earth Under the delusion of ego, the controllers believe they are God. This is the definition of “Satanic” and points to the original rebellion of “the one who fell.” This Fall opened the door in turn to the Fall of Man More ...
Printer friendly version Posted 03/03/2010 Email this article to a friend

California is a greater risk than Greece, warns JP Morgan chief

James Quinn – Telegraph.co.uk February 26, 2010

Mr Dimon told investors at the Wall Street bank's annual meeting that "there could be contagion" if a state the size of California, the biggest of the United States, had problems making debt repayments. "Greece itself would not be an issue for this company, nor would any other country," said Mr Dimon. "We don't really foresee the European Union coming apart." The senior banker said that JP Morgan Chase and other US rivals are largely immune from the European debt crisis, as the risks have largely been hedged.

California however poses more of a risk, given the state's $20bn (£13.1bn) budget deficit, which Governor Arnold Schwarzenegger is desperately trying to reduce.

Earlier this week, the state's legislature passed bills that will cut the deficit by $2.8bn through budget cuts and other measures. However the former Hollywood film star turned politician is looking for $8.9bn of cuts over the next 16 months, and is also hoping for as much as $7bn of handouts from the federal government.

Earlier this week, John Chiang, the state's controller, said that if a workable plan to reduce the deficit and increase cash levels is not reached soon, he will have to return to issuing IOU's, forcing state workers to take additional unpaid leave and potentially freezing spending.

Last summer, California issued $3bn of IOU's to creditors including residents owed tax refunds as a way of staving off a cash crisis.

"I can't write checks without money; that's against the law. My main goal is to keep the state afloat, but I won't be able to do it without the help of new legislation," said Mr Chiang.
www.telegraph.co.uk/finance/financetopics/financialcrisis/7326772/California-is-a-greater-risk-than-Greece-warns-JP-Morgan-chief.html

Printer friendly version Email this article to a friend

Last updated 05/03/2010

Homepage

Essential Reading for Newer Readers

The Life of an American Jew in Racist Marxist Israel Part II Written nearly twenty years ago, Jack Bernstein's words now have a prophetic ring which he paid for with his life More ...
Recomended Reading: Reincarnation and the Early Christians Reincarnation was an integral part of early Christianity (as was strict vegetarianism. Ed.). Near Death.com explores what it refers to as the "secret teachings of Jesus" and how all traces of it and Christian Gnosticism were later erased More ...
Joe Vialls: Did New York Orchestrate The Asian Tsunami? With Afghanistan and Iraq already lost, the Wall Street bankers were all desperately looking for other ways to control our world, when suddenly and very conveniently, the Sumatran Trench exploded. Trick or Treat? Joe Vialls investigates More ...
Back to the Future!!! Part 1 Geological evidence points to an cataclysmic event that almost defies comprehension. The problem is that it may just happen again ... and soon too. More ...
Smoking Mirrors: Magic Thermite and the 9/11 Fairytale The evidence is in and it’s irrefutable: scientists have discovered traces of hi-tech explosives in the WTC debris. Which means the UK/US/Israel will have to stage another event on the scale of 9/11 to counter the brushfire this report will ignite More ...
Rasputin, the Romanovs and the Russian Revolution: “Dark Forces” There are few real accidents in history and the version we see in the history books, may have happened entirely differently in reality. A prime example being the murder of Rasputin nearly 100 years ago More ...
Bilderberg Meeting – Media Should Be Ashamed Why do the Bilderberg meetings receive so little coverage. Victor Thorn examines why, and how, real news is suppressed by the mainstream media More ...
The Life of an American Jew in Racist Marxist Israel Part I Jack Bernstein was a rarity, an American Zionist who 'returned' to Israel, not for a holiday but to live and die in Israel building a Jewish nation. What makes him almost one of a kind, however, was his ability to see through the sham of Zionism More ...
The Liberation of the Camps It is tantamount to virtual heresy to question the 'Holocaust' today. But did the extermination of 6 million people really happen as we've been taught? More ...
The Forgotten Holocaust: In 'Eisenhower's Death Camps': A U.S. Prison Guard's Story In Andernach about 50,000 prisoners of all ages were held in an open field surrounded by barbed wire. The men I guarded had no shelter and no blankets; many had no coats. They slept in the mud, wet and cold, with inadequate slit trenches for excrement. More ...
Exposing the 'Terror Fraud': One Day in Birmingham The terror outrages in Britain last year may not have been the work of “Muslim extremists”. A series of virtually unreported events in a Birmingham hotel suggest the covert involvement of Britain’s intelligence agencies in orchestrating events More ...
The Doors of Perception and the Language of Spin We've all heard the term "spin", but what exactly does it mean. Tim O'Shea investigates More ...