By Greg Hunter’s
USAWatchdog.com   
The runaway gushing oil well in the Gulf of Mexico is an unmitigated national emergency.  The mile deep, broken well is vomiting oil at a rate of at least 56,000 barrels a day according to Steven Wereley, an associate professor of mechanical engineering at Purdue University.  That is 10 times higher than BP’s 5,000 barrel a day estimate. 

By Greg Hunter’s
USAWatchdog.com   
Both the House of Representatives and the Senate have passed their versions of financial reform legislation.  Now, the process of reconciliation takes place between both bodies of Congress to iron out a final bill the President can sign into law.  There is plenty in the bill such as new consumer protection, increased power given to regulators to prevent systemic risk, and new powers to oversee the $600 trillion derivatives market. 

By Greg Hunter’s
USAWatchdog.com   
While the stock market was beginning its 376 point plunge yesterday, the Federal Deposit Insurance Corporation was quietly putting the best face it could on a banking system in serious trouble. 

By Greg Hunter’s
USAWatchdog.com   
A producer friend of mine from my investigative correspondent days at ABC used to say, “There are some people you just can’t help.”  I think it meant that some people were in so deep, were so blind, or were just too block-headed to listen to reason that no matter what you did, or how hard you tried, you would not be able to help them.   My friend is an excellent journalist and producer.  He also has a law degree from Duke University.  I have always been a lot …

By Greg Hunter’s
USAWatchdog.com 
Recent headlines coming out of the financial world have been jaw dropping.  Here are a few: US faces same problems as Greece, says Bank of England (The Telegraph), World markets rattled by Goldman fraud (The Economic Times), Goldman Sachs faces criminal investigation (Guardian UK), Government Probe into Wall Street Sales Widening (Fox Business),

By Brian Sussman
Guest Writer for Greg Hunter’s USAWatchdog.com   
(Mr. Sussman is a Radio Host in San Francisco, CA and has recently released an new book called ”Climategate.”)
In recent weeks while addressing Tea Party rallies here on the left coast, I ask the assembled patriots what appears to be an odd question: “Would all those from the former Soviet Union please raise your hands?”  A notable number of hands are always raised — the San Francisco Bay Area is home to a diverse population.  I then ask another curious question: “What does April 22 signify …

By Greg Hunter’s 
USAWatchdog.com    
In the early days of coal mining, canaries acted as a warning that odorless poisonous gas was present.  If there was a dangerous gas build-up, the canary would be the first to keel over.  You can use the “canary in a coal mine” metaphor to describe the situation in today’s financial world.  Greece is the canary. 

 By Greg Hunter’s
USAWatchdog.com 
Pick a financial fire and you can be sure the U.S. government will hose it down with gallons of money.  AIG, General Motors, Chrysler, insolvent states, FDIC, Fannie, Freddie and all the banks are just a few of the blazes Uncle Sam has sprayed money on.

By Greg Hunter’s USAWatchdog.com 
A little more than a month ago, President Obama took a big step toward weaning the country off foreign oil.   His bold plan, announced at the end of March, included opening up 167 million acres along the Atlantic coastline as well as parts of the eastern Gulf of Mexico and the northern coast of Alaska for drilling. 

By Greg Hunter’s USAWatchdog.com 
They call NYU economics professor Nouriel Roubini–”Doctor Doom.”   He got the moniker because his ominous predictions, a few years back, came true.  I really hate the “Doom” name.  I think he should be called “Doctor Right on the Money.”   So, when Roubini talks I listen.   It seems the spotlight is off the U.S. for the moment because of Greek debt and rumors of default. 

Greg Hunter’s
USAWatchdog.com   
Unions in this country got started because industry took advantage of workers.  But these days, it seems to be the other way around.  I am not talking about unions in the private sector.  Private sector union workers should be free to get what they can.  If private sector unions get too much (health care, pensions and pay), it is the fault of company management.    

By Greg Hunter’s USAWatchdog.com 
The big news in the economy last week was new home sales jumped 27% in March.  It was the best monthly increase percentage wise since John F. Kennedy was in office.  What the mainstream media did not tell you was new housing starts jumped up from a very low level– like the lowest level in history!  This chart from shadowstats.com illustrates the point:   

By Greg Hunter’s
USAWatchdog.com  
Fed Chairman Ben Bernanke admitted the central bank created $1.3 trillion out of thin air to buy mortgage backed securities.  This shocking admission came from the Joint Economic Committee hearing on Capital Hill last week.  I was dumbfounded when I saw Bernanke shake his head in the affirmative

By Greg Hunter’s USAWatchdog.com 
Goldman Sachs was charged with fraud last week by the Securities and Exchange Commission.  The investment bank says the charges are “unfounded in law and fact.”  Regulators allege “Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party,” SEC Enforcement Director Robert Khuzami said in a statement.  In other words

By Greg Hunter’s
USAWatchdog.com   
Earlier this week, Fed Chief Ben Bernanke told Congress to basically raise taxes and cut the federal budget.  The inference was, if Congress doesn’t get its financial house in order, it will be their fault if the economy tanks.