Archive for the 'Economy' Category
Greece: Junk
June 14th, 2010Via: CNBC: Moody’s on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country. The agency downgraded the rating by four notches to Ba1, placing it one notch into junk status.
Israel’s Leader Capital Markets CEO “Commits Suicide”
June 14th, 2010Via: Reuters: The chief executive of Leader Capital Markets, one of Israel’s top investment banks, has committed suicide, a company spokeswoman said on Sunday. Danny Barak, 48, jumped from his office on the 17th floor of one of Tel Aviv’s most prominent office towers on Friday, the spokeswoman said. Barak, who is survived by his […]
Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case
June 14th, 2010Via: Bloomberg: The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history. Fannie and Freddie, now 80 percent owned […]
Rent a White Guy
June 14th, 2010Via: The Atlantic: Not long ago I was offered work as a quality-control expert with an American company in China I’d never heard of. No experience necessary—which was good, because I had none. I’d be paid $1,000 for a week, put up in a fancy hotel, and wined and dined in Dongying, an industrial city […]
Ireland: Central Bank Hid Property Crash Forecast
June 14th, 2010Via: Independent: THE Central Bank buried sensational data forecasting a crash in the property market months before the housing market began to crumble in early 2007. Last week’s report into the banking crisis by Central Bank boss Professor Patrick Honohan revealed that minutes from the bank’s financial stability group had shown that predictions of a […]
U.S. Identifies Vast Mineral Deposits Worth $1 Trillion in Afghanistan; “The Saudi Arabia of Lithium”; Eventually “One of The Most Important Mining Centers in The World”; Pentagon “Helping” Afghan Government to Prepare to Seek Bids on Mineral Rights
June 14th, 2010I am Jack’s complete lack of surprise. —Fight Club Update: Afghan Mineral Deposits Actually Worth $3 Trillion, Not $1 Trillion —End Update— The Soviets knew about it! They did geological surveys during their occupation of Afghanistan. Which makes you wonder… Did the U.S. actually know about it all this time? This piece says otherwise, but […]
New York Money Manager Chimay Charged With Larceny, Forgery
June 13th, 2010Guy Albert de Swindle. Via: Bloomberg: New York money manager Guy Albert de Chimay was indicted in New York on grand larceny and forgery charges, according to the Manhattan District Attorney’s office. Chimay, 47, chairman and chief investment officer of Chimay Capital Management Inc., was arrested yesterday in Wrightsville Beach, North Carolina, on a New […]
Obama Pleads for $50 Billion in State, Local Aid
June 13th, 2010Via: Washington Post: President Obama urged reluctant lawmakers Saturday to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid “massive layoffs of teachers, police and firefighters” and to support the still-fragile economic recovery. In a letter to congressional leaders, Obama defended last year’s huge […]
The Oil Spills You’ve Never Heard Of
June 13th, 2010Via: The Star: Deepwater Horizon. Exxon Valdez. How many other oil spills can you name? Perhaps some Canadian accidents stick in the mind. There was the 41.8 million gallons that leaked from the American tanker Odyssey off Nova Scotia in 1988, and the 42,000 gallons that gushed from the Petro Canada-owned Terra Nova platform in […]
Obama “Let the World’s Most Dangerous Oil Company Get Away with Murder”
June 11th, 2010Via: Rolling Stone: On May 27th, more than a month into the worst environmental disaster in U.S. history, Barack Obama strode to the podium in the East Room of the White House. For weeks, the administration had been insisting that BP alone was to blame for the catastrophic oil spill in the Gulf – and […]
