* Seven more banks shuttered. Going into the holiday weekend, U.S. regulators closed another seven banks, bringing this year's total to 52 failures. The seven closures will cost the FDIC around $314M.
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SAN FRANCISCO (Reuters) - California suffered a new setback in its financial crisis on Monday when Fitch Ratings cut its rating on the state's general obligation debt to just two notches above junk status.
Fitch cut its rating on California's long-term bonds to "BBB," two notches above speculative grade, citing the state's budget and cash crisis. The state last week started issuing "IOU" promissory notes to pay for some bills in order to conserve cash.
The credit rating agency also kept the debt of the most populous U.S. state on watch for additional downgrades. California ranks as the lowest-rated state general obligation credit by Fitch, followed by Louisiana, at "A+."
http://www.scribd.com/doc/16987142/Rothschild-Timeline-iamthewitnesscom
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http://www.scribd.com/doc/16868596/How-Goldman-Sachs-Pumped-and-Dumped-US-Economy
Of course, markets are extremely manipulated -- saying this for years.
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