Archive for the 'Economy' Category
BP Rig Atlantis “An Even Bigger Disaster In The Making”
June 3rd, 2010Via: CNN: Could things get any worse for BP? Maybe. As the oil continues to flow, some are charging that another BP operation in the Gulf is an even bigger disaster in the making. For six months, Ken Abbott managed BP’s engineering documents for “Atlantis,” BP’s deep water platform nearly 200 miles south of New […]
Ex-Florida GOP Chairman Indicted on Charges of Grand Theft, Money Laundering; Arrested
June 2nd, 2010Just another day at the office. Via: Orlando Sentinel: Jim Greer, the former chairman of the Republican Party of Florida who has been under criminal investigation for his financial handling of the organization, was indicted on six charges including money laundering and grand theft, state officials announced today. Greer was arrested by Florida Department of […]
Foreign Banks Find Fortune in Crisis
June 2nd, 2010Via: Politico: Foreign banks are flexing newfound muscle in Washington, spreading their money and influence while winning government business that’s off-limits to their politically toxic American cousins. While Congress and President Barack Obama have been bashing big American banks as the cause of the nation’s economic troubles, foreign banks have been quietly increasing their presence […]
Goldman Sachs May Settle for $1 Per Share, or About $621 Million
June 2nd, 2010Maybe they’ll pass the hat around and collect some pocket lint before heading out for martinis. —Goldman Set to Settle SEC Fraud Case Soon No. It’s not comedy hour on Cryptogon. Via: Bloomberg: Goldman Sachs Group Inc. will probably settle a lawsuit brought by the Securities and Exchange Commission at a cost of a little […]
U.S Launches Criminal Investigation Into Oil Spill
June 2nd, 2010Ahh, like the criminal investigations into AIG and the squid. Also: BP Collects Billions in U.S. Government Contracts Obama Biggest Recipient of BP Campaign Cash Via: The Hill: The U.S. government has launched a formal criminal and civil investigation into the oil spill in the Gulf of Mexico, Attorney General Eric Holder said Tuesday. Holder […]
German President Resigns After Comment Linking Military Deployments with Economic Interests
June 2nd, 2010It’s dangerous to take a page out of the Captain Obvious playbook when you’re a national political figure. Via: The Local: German President Horst Köhler sparked a political storm on Thursday by suggesting Germany’s military involvement in Afghanistan was partly motivated by its economic interests rather than solely to guarantee its security.
Japan’s Prime Minister Announces Resignation
June 2nd, 2010Change we can believe in, Japanese style. Via: CNN: Japanese Prime Minister Yukio Hatoyama announced Wednesday he will resign after eight months in power. “I’m going to step down,” Hatoyama declared in a live broadcast on Japanese television NHK, while addressing party members of both the upper and lower houses of the Diet, Japan’s parliament. […]
France Warns on Credit Rating
May 31st, 2010Via: Reuters: France admitted on Sunday that keeping its top-notch credit rating would be “a stretch” without some tough budget decisions, following German hints that Berlin may resort to raising taxes to help bring down its deficit. Euro zone trade unions are preparing for possible confrontations in the coming week if governments impose austerity measures […]
Greece Urged to Give Up Euro
May 31st, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I’m not sure how much of this is piece is short-the-euro hype, but here it is in any event. Just be aware that the shortside euro trade has been VERY easy money lately. When the mainstream news is going with the […]
BP Collects Billions in U.S. Government Contracts
May 31st, 2010Via: Muckety: Daniel Gross of Slate poses the question: How do we punish BP? The options he suggests – boycotting BP products, charging for the cleanup, even nationalizing the company – are less than satisfying. Here’s another possibility: How about barring BP from the federal trough? According to USASpending.gov, BP has received more than $9 […]
