Archive for the 'Economy' Category
U.S. Banks to Send Checks for $3.6 Billion in Foreclosure Settlement
May 2nd, 2013Via: AP: The nation’s largest banks will begin sending payments this week to millions of Americans who may have been wrongfully foreclosed on during the housing crisis. A total of $3.6 billion in cash will be distributed to 4.2 million borrowers who lost their homes or were at risk of foreclosure, the Federal Reserve and […]
Fed Will Maintain $85 Billion a Month Asset Purchasing Program
May 2nd, 2013In other news: Foreigners now hold more than $13 trillion in American securities, a record set as the U.S. seeks to assert itself as the safest port in troubled global waters. China and Japan combined owned more than $3.4 trillion, including $2.4 trillion in debt, a number that has grown since the data set was […]
‘Obamacare’ Poll Finds 42% of Americans Unaware It’s Law
May 1st, 2013Via: ABC: A new poll finds that many Americans are confused about the health care overhaul legislation commonly called “Obamacare.” The Kaiser Family Foundation released results of a non-partisan study today finding more than 40 percent did not even know the law was in place. “Four in ten Americans (42%) are unaware that the ACA […]
Digital Cash Replacement from Royal Canadian Mint in the Works
April 30th, 2013Via: The Star: The Royal Canadian Mint has been pushing forward with its “MintChip” prototype, a digital cash replacement aimed at transactions under $10, since it surfaced a year ago. The Crown corporation is factoring in developer feedback, hiring a product manager and consulting with the financial sector. “I would look on it very much […]
Living in U.S. Raises Risk of Allergies
April 30th, 2013Via: AFP: Children born outside the United States have a lower risk of asthma, skin and food allergies, and living in the United States for a decade or more may raise the risk of some allergies, said a study Monday. The research in the Journal of the American Medical Association suggests that certain environmental exposures […]
Tsarnaev Family Received $100K in Benefits
April 30th, 2013Via: Boston Herald: The Tsarnaev family, including the suspected terrorists and their parents, benefited from more than $100,000 in taxpayer-funded assistance — a bonanza ranging from cash and food stamps to Section 8 housing from 2002 to 2012, the Herald has learned. “The breadth of the benefits the family was receiving was stunning,” said a […]
Head of Saxo Bank: There Will Be More Wealth Confiscation
April 30th, 2013Via: Telegraph: Savers and investors face further “wealth confiscation” in Europe as the continent struggles to resolve the single currency’s problems, a bank chief has said. European politicians will take the “easy option” of taking money from the rich rather than raising taxes and cutting spending to deal with the continent’s debt problem, Lars Christensen, […]
Top End Microchips Made by Just Four Companies
April 29th, 2013Via: Quartz: Making advanced microchips has always been hard. But it’s now so difficult that the number of companies with the knowledge and cash to do it is about to shrink to precisely four. The factories in which microchips are made, called fabs, can cost billions of dollars. They’re like rocket launch sites or nuclear […]
Afghanistan: CIA’s ‘Ghost Money’
April 29th, 2013Keep in mind, this is the New-York-Times-Limited-Hangout version. My guess is that a couple of extra zeros, at least, would need to be tacked onto, “tens of millions of dollars,” to approach anything resembling what has gone down over there. Via: New York Times: For more than a decade, wads of American dollars packed into […]
Post 9/11 Domestic Security Spending Exceeds Cost of New Deal
April 28th, 2013Via: CNN / Fortune: Video surveillance is already big business. In the aftermath of the Boston Marathon bombings, expect it to get even bigger. … In response to security concerns after 9/11, Americans witnessed the growth of a massive domestic security apparatus, fueled by federal largesse. According to Tomdispatch’s Mattea Kramer and Chris Heilman, post-9/11 […]
