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FDIC., which sold the failed BankUnited to a group on Wall Street led by a longtime New York banker. The FDIC agreed to reimburse as much as $10.5 billion in future loan losses—and gave the new owners $2.2 billion in cash. The buyers paid $945 millio
We are sooooo screwed
The report contains a clip by Harvard economist and top economic textbook salesman, Greg Mankiw. His take on the recent financial crisis is that the reason mainstream economist didn't forecast it was because it was an outlier event.
Buy local? Ok! I will do that! Wait…..this says product of China, product of Brazil, product of Mexico, product of Egypt, Guatemala, Argentina ………where is the stuff produced in the US? How am I supposed to buy local to support my local economy when
The United States is effectively printing cheap dollars as it implements an ultra-loose policy to spur its flagging economy, setting the stage for "a world credit war", a Chinese rating agency said. Quantitative easing has "eroded the legitimacy of t
Japan and the United States faced new pressure to confront their swollen budget deficits as the IMF and rating agencies demanded more evidence they can bring their public debts under control. The G7's 2 biggest economies needed to spell out credible
The US economy is no longer technically in recovery. As Mitsubishi Financial's Ellen Beeson Zentner points out in a morning note, with today's GDP report, we're officially in expansion, having passed the old high.
Flava Flav is doing his part to revive the economy! My friend from High School owns a motorcycle shop in Clinton, IA and sent me this link. The guys on American Pickers are just down the road a piece in LeClaire, I wonder if they will go there on t
I've never seen my readers so angry...
To summarize: 108.616 million people in America are either unemployed, underemployed or "Not in the labor force". This represents 45.5% of working age Americans.
20 percent of the residents of Los Angeles County are now receiving public aid of one kind or another.
The Recession wiped out what amounts to every U.S. job created in the 21st century. But even if the recession had never happened, if the economy had simply treaded water, the United States would have entered 2010 with 15 million fewer...
Expect turbulence ahead
JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles...
California adds just 4,900 jobs in December, with the government and construction sectors shedding thousands of positions. L.A. County's unemployment rate hits 13%.
Legislation that would allow U.S. states to file for bankruptcy will likely be introduced in Congress within the next month, Newt Gingrich, the former speaker of the House of Representatives and a powerful Republican party figure, told Reuters on Fri
Among Claims including malfeasance, statutory violations, and unfair business practices, a California team of attorneys is accusing the nation's largest lenders of violating “proof of funds” provisions of the USA PATRIOT ACT. The law firms of Kramer
Jerry Brown, California’s governor, declared a state of fiscal emergency on Thursday for the government of the most populous US state to press lawmakers to tackle its $25.4 billion budget gap.
Congressional conservatives on Thursday demanded far more dramatic reductions in government spending than House GOP leaders have recently proposed, in the first sign of a fissure between old-guard Republicans and tea-party-backed newcomers.
The credit woes of state and municipal governments are a direct result of Wall Street’s malfeasance. Their borrowing costs first shot up in 2008, when the “monoline” bond insurers lost their own credit ratings after gambling in derivatives. The Fed’
We Don't Need a State - Our Choice: Secession - Am I Being Unfair?, Laurence Vance on Republican "libertarians." - The Canary in the Coal Mine, We can see our alarming inflationary future in Southeast Asia, says Simon Black.
Banks will try to make up the shortfall by increasing fees to customers, but they expect to lose about 5% of their customers to the "unbanked" world, said Dimon during the bank's fourth-quarter earnings conference call.
I’ve been pouring through the Fed’s recent release of circa 2005 FOMC transcripts. The most striking observation that one can make is that the consumer - the very lifeblood that determines whether our economy will live or die - has been discarded.
It's "sink or swim" time for the shipping stocks.
Dan Loeb has done the unthinkable… He's beaten the market for 13 straight years.
no place is perfect… and in these tumultuous times which I call the ‘Age of Turmoil,’ no country is going to be completely immune to the looming problems which face the world, namely rising prices and resource shortages.
Farm animals endorse government debt! What could go wrong? Says Ed: “They’re backed by the government! You always get what you put in, plus interest. You can’t lose! ... You never miss those few dollars out of each paycheck, because the saving is
Sudan Next To Succumb To Bernanke’s Inflationary Experiment, As Country Threatens Revolution Over Surging Food Prices
By Martin Hill - LibertyFight.com - Newly sworn U.S. Senator Dr. Rand Paul from Kentucky has suggested doing something that his father, libertarian icon Congressman Ron Paul, said he was worried that Republicans might do just weeks ago.
Dallas Fed Prez Attacks Ron Paul - More Lies About the Civil War - Central Banks Around the World Scare Me, Jim Rogers on the gold price, and his appreciation for silver and rice - America's Arab Puppets Are Going Down, And about time, too, Eric Marg
