Things I read today 17-11-08

Citigroup cutting 53,000 jobs - CBC Story
One of the comments: by Baron von Lufthoven
Don't worry folks, there's no conspiracy. None of this is related. This will all blow over in a few months. The fundaments of the seconomy are sound. We will not sell off Canadian's wealth to pay for international banker's theft - er, 'credit freeze'. There are some good buying opportunities out there. Buy some physical gold to make yourself feel secure, oh yeah - there is none left for purchase. We are going to commission a (think tank) committee to discover the findings of this situation. We will then study those findings we have found and then we'll convene a session of parliament to debate the findings which we found in the study. After debating the findings we will make announcements concerning the debates which will have little or no effect on the lives of Canadians. We will then state that parliament is not working and call another election...............
More from BBC and from Blacklisted News
These are larger numbers than most of the towns I have lived in that are getting the axe.
BBC quote (mine in brackets) - The cuts (people that are now out of a job and cannot provide money for their families) will come from redundancies, the sale of units and natural wastage (this is my favorite), the bank said.

Obama 'to rebuild moral stature' - BBC Story
Mr Obama also promised to do "whatever it takes" to stabilise the US economy, including rescuing the struggling auto industry and assisting homeowners. - note the use of the word 'rescue' for the auto industry and 'assist' homeowners.
I say let the people that are in their only home keep them and the banks can suck it up seeing as they got bailed out. And how did the banks lose money that never really existed?

Pirates capture Saudi oil tanker - BBC Story
How long before someone tries to bring 'order' to Somalia?

$2 Trillion Handed out by Paulson and Bernanke, But Who Got It, Nobody Knows - Blacklisted News
Anyone else think that Citigroup got some of this?

Pak accuses US of pushing it closer to bankruptcy - Blacklisted News Story
Didn't Pakistan just get an IMF loan? Hmmmm.