Archive for the 'Economy' Category
FDIC List of Problem Banks Grows
November 25th, 2010It’s all about fraud and hiding the reality of what’s really on their books. CNBC link ahead. Hold nose. Via: CNBC: The number of banks on the Federal Deposit Insurance Corp’s confidential “problem” list grew over the summer even while the overall industry posted solid net income. The FDIC says its list of troubled banks […]
Nigel Farage To European Parliament: “The Euro Game Is Up… Just Who The Hell Do You Think You Are? You Are Very Dangerous People”
November 25th, 2010Via: ZeroHedge: “Good morning Mr. van Rompuy, you’ve been in office for one year, and in that time the whole edifice is beginning to crumble, there’s chaos, the money’s running out, I should thank you – you should perhaps be the pinup boy of the euroskeptic movement. But just look around this chamber this morning, […]
Europe Can’t Afford to Bailout Spain
November 25th, 2010Via: New York Times: Europe so far has survived the bailout of Greece. The financial rescue of Ireland also is manageable. Even if Portugal becomes the third country to succumb and seek aid, as many people widely predict, it is unlikely to push Europe to the financial brink. But any bailout of Spain — with […]
Russia, China Pledge Bigger Role for Yuan, Ruble
November 24th, 2010Via: AFP: Prime Minister Vladimir Putin said on Tuesday the Chinese yuan would soon start trading in Russia as the countries seek to challenge the dollar and promote the use of national currencies. “We agreed to expand the possibilities for application of national currencies during trade and economic contacts,” Putin said after talks with Chinese […]
Dollar Up Sharply on Koreas; European Financial Mess
November 23rd, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Intraday, the dollar has broken up and out of its most recent daily interval range, the top of which was 79.461. The first meaningful resistance on this dollar rally is 80.085 (the pivot low from 6 August 2010). If it clears […]
Insider Trading: Criminal Charges, Fines Against Large Number of Wall Street Executives and Investors
November 22nd, 2010Upstarts get busted in an attempt to maintain appearances while public menaces Goldman Sachs and AIG are allowed to slip from the headlines. Via: Los Angeles Times: Federal investigators in New York are wrapping up an extensive investigation into allegations of insider trading and other stock-trading irregularities that could bring criminal charges or monetary fines […]
Ireland to Seek EU-Led Bailout as Lenihan Works to Avert Bank ‘Collapse’
November 21st, 2010Via: Bloomberg: Finance Minister Brian Lenihan said Ireland will apply for a bailout as it sets itself up to be the second euro member to seek a rescue from the European Union and the International Monetary Fund. “I will be proposing to my colleagues that they should formally apply for a program,” Lenihan said in […]
Could Millionaires Fleeing the U.S. Cause a Wildcard Economic Event?
November 21st, 2010For years, I’ve received emails from people who want to move to New Zealand. Some young, some old. Some well off, some not so well off. Over the last month or so, three millionaires have emailed me about moving to New Zealand. The three people who emailed me were all going to invest their way […]
Viewers Pull Plug on U.S. Cable Television
November 18th, 2010Via: Financial Times: The number of people subscribing to US cable television services has suffered its biggest decline in 30 years as younger, tech-savvy viewers lead an exodus to web-based operations, such as Hulu and Netflix. The total number of subscribers to TV services provided by cable, satellite and telco operators fell by 119,000 in […]
FDIC Conducting About 50 Criminal Investigations Involving Failed Banks
November 17th, 2010Mmm hmm. Via: Wall Street Journal: The Federal Deposit Insurance Corp. is conducting about 50 criminal investigations of former executives, directors and employees at U.S. banks that have failed since the start of the financial crisis. The agency responsible for dealing with bank failures is stepping up its effort to punish alleged recklessness, fraud and […]
