Archive for the 'Economy' Category
Florida: Deputies and Movers Show Up at Bank to Seize Property for Homeowner
June 4th, 2011Via: WINK News: The couple took their case to court and after a year and a half nightmare the foreclosure was dropped. A Collier County judge said Bank of America has to pay the couple’s $2,534 legal fees for the error. After more than five months the bank still hadn’t paid up. So, the homeowners’ […]
More Americans Think Economy Will Never Recover
June 4th, 2011Recover to what? Happy motoring on Chinese credit? Via: CNBC: Americans are growing increasingly doubtful about direction of the US economy, according to the latest survey from business-advisory firm AlixPartners. In fact, an increasing number, some 61 percent, say they don’t expect to return to their respective pre-recession lifestyles until the spring of 2014, if […]
ECB’s Trichet Pushes for a European Finance Ministry
June 3rd, 2011Via: Telegraph: Jean Claude Trichet has called for the creation of a European finance ministry whose powers to intervene in national economic policy would be “well over and above the reinforced surveillance that is presently envisaged”. The boss of the European Central Bank (ECB) said that “strengthening the institutions of economic union” was vital to […]
China: Teenager Sells Kidney for iPad, Laptop Computer
June 3rd, 2011Via: BBC: A teenager in China has sold one of his kidneys in order to buy an iPad 2, Chinese media report. The 17-year-old, identified only as Little Zheng, told a local TV station he had arranged the sale of the kidney over the internet.
‘A Trader, an F.B.I. Witness, and Then a Suicide’
June 3rd, 2011Suuuuure. Via: New York Times: In a Manhattan courtroom last week, federal prosecutors played for a jury a secretly recorded telephone conversation between two Wall Street traders exchanging stock tips. Two days later, one of those traders, Ephraim G. Karpel, hanged himself in his Fifth Avenue office, according to a law enforcement official. Mr. Karpel […]
‘Homeland-Security Business Still Booming Ten Years Later’
June 2nd, 2011Via: CNBC: A decade after the 9/11 terror attacks, homeland security is still a growth business. The niche—that includes James Bond-like tools such as infrared cameras, explosive detectors and body scanners—is expected to grow 12 percent annually through 2013, according to Morgan Keegan. “Homeland security is reactive,” says Tim Quillen, a senior equity analyst at […]
Nigel Farage: Trapped Inside an Economic Prison
June 2nd, 2011Moody’s May Cut BofA, Citi, Wells Ratings
June 2nd, 2011Via: Reuters: Moody’s Investors Service said it may downgrade the debt ratings of Bank of America Corp (BAC.N), Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N), citing concerns about the regulatory environment facing the largest U.S. banks. The ratings agency said on Thursday it placed the deposit, senior debt, and senior subordinated debt ratings […]
Largest Banks Profited by Borrowing From Federal Reserve, Lending to Federal Government
June 2nd, 2011Via: Huffington Post: A newly-released study from the Congressional Research Service bolsters claims that the nation’s largest banks profited off the Federal Reserve’s financial crisis-era programs by borrowing cash for next to nothing, then lending it back to the federal government at substantially higher rates. The report reinforces long-held beliefs that the banking system in […]
Recovery: ‘Double-Dip’ in Housing Prices Even Worse Than Expected
June 2nd, 2011Via: CNBC / Reuters: U.S. single-family home prices dropped in March, dipping below their 2009 low, as the housing market remained bogged down by inventory and weak demand, a closely watched survey said Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.2 percent in March from February on a seasonally adjusted basis, […]
