Archive for the 'Economy' Category
From Spas to Banks, Mexico Economy Rides on Drugs
January 26th, 2010In other news: SEC Mulled National Security Status for AIG Details Via: Reuters: Mexico probably made more money in 2009 moving drugs than it did exporting oil, its single biggest legitimate foreign currency earner. From the white Caribbean beaches of Cancun to violent towns on the U.S. border and the beauty parlors of Mexico City’s […]
My U.S. Credit Card Was Deactivated After I Sent $20 to Wikileaks
January 26th, 2010Wikileaks is down for fund raising. I sent them $20 using my U.S. credit card. The next day, Bank of America’s Magic 8 Ball deactivated my account and sent this to me: Irregular Credit Card Activity Account: Bank of America ending in XXXX Date: 01/25/2010 We detected irregular activity on your Bank of America Credit […]
Nanosecond Trading Strains Infrastructure: Firms Failing to Control Their Algorithms
January 26th, 2010See: Trading Shares in Milliseconds Via: Financial Times: An explosion in trading propelled by computers is raising fears that trading platforms could be knocked out by rogue trades triggered by systems running out of control. trading-thumb.jpgTrading in equities and derivatives is being driven increasingly by mathematical algorithms used in computer programs. They allow trading to […]
December Home Sales Decline Was Largest in More than 40 Years
January 25th, 2010Via: AP: Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit. The report reflects a sharp drop in demand after buyers stopped scrambling to qualify for a tax credit of up […]
Sam’s Club cuts 11,200 jobs, 10 Percent of Workforce
January 25th, 2010Via: Reuters: Sam’s Club, the warehouse club division of Wal-Mart Stores Inc is cutting roughly 11,200 jobs, or about 10 percent of its workforce, as it outsources in-store product demonstrations and eliminates positions used to recruit new business members.
Stuyvesant Town-Peter Cooper Village: Second Largest Ever Commercial Mortgage Default
January 25th, 2010Via: Bloomberg: Tishman Speyer Properties LP and BlackRock Inc. ceded control of Stuyvesant Town-Peter Cooper Village, New York’s largest apartment complex, to lenders after its value plummeted and the owners were prevented from raising rents. Tishman, which bought the 80-acre property with BlackRock Realty Inc. in 2006 for $5.4 billion, missed a $16.1 million debt […]
SEC Mulled National Security Status for AIG Details
January 25th, 2010Via: Reuters: U.S. securities regulators originally treated the New York Federal Reserve’s bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security, according to emails obtained by Reuters. The request to keep the details secret were made by the New York Federal […]
PayPal Freezes Wikileaks Account
January 24th, 2010Via: Wikileaks: Paypal has as of 23rd of January 2010 frozen WikiLeaks assets. This is the second time that this happens. The last time we struggled for more than half a year to resolve this issue. By working with the respected and recognized German foundation Wau Holland Stiftung we tried to avoid this from happening […]
Kucinich on Democrats: “Are you kidding me?”
January 24th, 2010Welcome to the desert of the real, Representative Kucinich. Via: Raw Story: Rep. Dennis Kucinich (D-OH) on Wednesday said the Massachusetts election was a “wake up call” for Democrats and that his party had better change course or it could suffer devastating losses come November. “People elected Democrats in 2008 to change the country’s direction,” […]
Ron Paul: “Great Danger Lies Ahead”
January 24th, 2010Here are several perspectives that you’ll never hear in a State of the Union speech:
