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He sold more than half of his 52 million shares of Johnson & Johnson and he sold it at a 20-year low relative to its yield. That doesn't sound like "Buy America." That sounds like "Sell America."
This is not the first time in history that banks are keeling over, and won't be the last time, especially if we have a Fed attempting to micromanage the economy. Sure, it's going to be painful, but it's only going to be painful ONCE.
The sell-off came despite the signing of the $787 billion stimulus package by President Obama and as auto executives faced a deadline to submit restructuring plans to the federal government after receiving billions in bailout money.
Worries about the deteriorating financial situation in countries like Romania and Hungary led to a huge sell-off that began overseas and crashed ashore on Wall Street. Every sector sank, with financial stocks leading the way and energy companies fall
Former U.S. Federal Reserve Chairman Alan Greenspan said on Tuesday the current global recession will "surely be the longest and deepest" since the 1930s and more government rescue funds are needed to stabilize the U.S. financial system.
In Texas, Robert Allen Stanford was just another wealthy financier. But in the breezy money haven of Antigua, he was lord of an influential financial fief, decorated with a knighthood, courted by government officials and basking in the spotlight of s
GM said it could need up to $30 billion from the Treasury Department, up from a previous estimate of $18 billion. That includes $13.4 billion previously allocated and $91. billion in new loans. The world's largest automaker said it could run out
DOW off 298 points (3.8%) S&P 500 off 38 points (4.6%) NASDAQ off 64 points (about 4.1%)
An $8 trillion negative wealth effect from declining home values. A $10 trillion negative wealth effect from weakened capital markets. A $14 trillion consumer debt load amid "exploding unemployment"
Don't hold your breath if Kansas owes you money. Kansas suspends income tax refunds, may miss payroll.
States are facing a great fiscal crisis. Combined budget gaps for the remainder of this fiscal year and state fiscal years 2010 and 2011 are estimated to total more than $350 billion.
