America

Authored by Simon Black via SovereignMan.com,

The Great Financial Crisis happened because Wall Street was financing homes for people who couldn’t afford them.

Leading up to the GFC, there was a voracious appetite from investors for “AAA”-rated mortgage debt. So lenders would make lots of loans to subprime borrowers and sell them to Wall Street. Wall Street would pool them together and one of the major ratings agencies (like Moody’s or Standard & Poor’s) would stamp the steaming pile of garbage with AAA.

Authored by Lloyd Grove via The Daily Beast,

Inside and outside NBC, sources are challenging the network’s take on the bombshell it missed. "NBC did everything they could to delay it, complicate it, and ultimately [kill] it."

Update (10:10 am ET): Continuing the theme of attacking NBC for spreading "fake news" and hearsay, President Donald Trump in a tweet accused the network of making up yet another unflattering story about Trump and his relationships with his most senior advisers. He blasted NBC's report as a work of "pure fiction" invented "to demean."

And, ratcheting up his feud with the network, Trump questioned if it might be appropriate to revoke the network's broadcasting license, adding that the network's shoddy reporting is "bad for the country."

North Korea is preparing to fire multiple short-range rockets around the opening of the Chinese Communist Party’s twice-a-decade congress on Oct. 18, the Seoul-based Asia Business Daily reports, citing an unidentified person. According to the newspaper, the U.S. and South Korean militaries have recently spotted about 30 Scud rockets being moved from Hwangju, south of the capital Pyongyang, to a missile maintenance facility in the western coastal city of Nampo.

More from the report, google translated:

Authored by M.K. Bhadrakumr viaThe Strategic Culture Foundation,

The mishap at the Moscow airport on Wednesday when the Saudi King Salman bin Abdulaziz arrived on a historic visit, was a wake-up call that even the most carefully choregraphed enterprises may hold unpleasant surprises.