There is a debate on whether to close down Anglo Irish Bank or not, now that it was revealed that it could take another EU25-35 billion to keep its doors open. This is on top of the fact that it holds mortgages on 300 hotels that have either been closed down or should be closed down, and are remaining open as "zombie hotels," just to postpone the inevitable.

"The guy who was used by the forces behind Bernanke," Lyndon LaRouche said Sept. 4, "to sabotage the Homeowners and Bank Protection Act, was Barney Frank, who has the misfortune of being rushed to a [Sept. 7] debate with Rachel Brown, in which I'm sure this fact will be prominently represented, that Bernanke is incompetent."

A journalist for the Italian daily Il Riformista looked into some balance sheet reports, and found out that currently, Italy is being singled out as the largest target for credit default swap (CDS) bets globally. And leading these bets is George Soros!

As if in a fit of "anti-FDR" impulse, Barack Obama's Federal government laid off a net 114,000 workers in August in the teeth of an economic collapse, and compelled state and local governments around the country to do the same. The result was a Labor Department release today that reported another job loss, of 54,000 jobs, for the overall economy during the month.

Harrisburg, capital of the state of Pennsylvania, informed creditors on August 30th, that the city will not make its bond payment coming due Sept. 15th. Mayor Linda Thompson summed up the situation simply: "I cannot shut down fire. I can't shut down public safety. If I can't make a bond payment, there are measures set up in those agreements to guarantee reimbursement (to bondholders).

Imagine that you're in a traffic accident, that's not even your fault, and an ambulance, police, and fire units respond. A few months later you get a bill. A bill for ambulance transport is not unusual, but in these days of economic crises and collapsing budgets, many cities now send out bills for the fire department response, too, to try to reduce their own costs.

In his Sept 2, 2010 testimony to the Financial Crisis Inquiry Committee, Fed Chairman Ben Bernanke admitted, implicitly, that LaRouche was right and he was wrong, in the summer and autumn of 2007, when LaRouche insisted that the entire history of the period since the beginning of September of 2007, first under George W.

Ireland is currently the front line of the euro section of the Transatlantic crisis. It is becoming clearer by the day, that the Irish government has no chance of facing the immense debt burden of Anglo-Irish Bank and of the other liabilities of the national banking system. People are starting to realize that it doesn't matter how much Ireland cuts its budget: The bank bailout is unsustainable.

In testimony before the Financial Crisis Inquiry Commission on September 2, Federal Reserve Chairman Ben Bernanke admitted that he is both incompetent and dishonest.

While the Summer Shields' Congressional campaign in San Francisco is spearheading the building of a juggernaut behind Lyndon LaRouche's revolutionary conception of NAWAPA as the TVA of the 21st Century, the state of California is plunging into the abyss. The regular legislative session ended Tuesday with no budget, two months after one was due, and there is little prospect for agreement.