Archive for the 'Economy' Category
Federal Reserve Seeks to Protect U.S. Bailout Secrets
January 12th, 2010Via: Bloomberg: The Federal Reserve asked a U.S. appeals court to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in U.S. history. The U.S. Court of Appeals in Manhattan will decide whether the Fed […]
IRS Commissioner Doesn’t File His Own Taxes; Tax Code Too Complex
January 12th, 2010Via: The Hill: IRS Commissioner Douglas Shulman does not file his own taxes in part because he believes the tax code is complex. During an interview on C-SPAN’s “Newsmakers” program that aired on Sunday, Shulman said he uses a tax preparer for his own returns. “I’ve used one for years. I find it convenient. I […]
Italy: Race Riots
January 12th, 2010Via: New York Times: More than a thousand African workers were put aboard buses and trains in the southern Italian region of Calabria over the weekend and shipped out to immigrant detention centers, following some of the country’s worst riots in years. The clashes began Thursday night in Rosarno, a working-class city amid citrus groves […]
The Recession Generation
January 12th, 2010From the article below: The situation could get even uglier if, as many predict, a depressed post-crisis landscape forces Americans to let go of the mythology of upward mobility. Oh the horror. Things will get worse if people live within their means and refuse to buy crap that they don’t actually want or need? This […]
Arizona Treasurer Says Checks Will Bounce Amid Budget Crisis
January 12th, 2010Via: ABC15: Arizona state legislators go back to work Monday in an attempt to battle a nearly $1.5 billion dollar deficit. “The February school payment we can’t make, February payroll there’s no money there,” said State Treasurer, Dean Martin. Martin said unless the capitol buildings are sold before the end of the month, there will […]
Religious Exemptions from InsuranceCare
January 11th, 2010Via: Watertown Daily Times: Federal health care reform will require most Northern New Yorkers — but not all, it turns out — to carry health insurance or risk a fine. Hundreds of Amish families in the region are likely to be free from that requirement. The Amish, as well as some other religious sects, are […]
Wealthy Clients Flee UBS
January 11th, 2010Via: Bloomberg: UBS AG Chief Executive Officer Oswald Gruebel said it’s “imperative” the largest Swiss bank halt withdrawals by wealthy clients after six quarters of net outflows. “In wealth management it is imperative that we stop the outflow of assets and increase the inflow,” Gruebel said today in a memo to staff obtained by Bloomberg […]
Geithner Has Support of Obama, Democratic Lawmakers, Aides Say
January 11th, 2010Via: Bloomberg: Treasury Secretary Timothy Geithner retains the confidence of President Barack Obama as he faces questions about why the Federal Reserve Bank of New York tried to withhold details of the government’s financial-industry rescue, administration officials said. Aides to top congressional Democrats also said that Geithner has support on Capitol Hill as lawmakers prepare […]
China Now Largest Auto Market
January 11th, 2010Caution: Chinese government statistics ahead. Via: Bloomberg: China supplanted the U.S. as the world’s largest auto market after its 2009 vehicle sales jumped 46 percent, ending more than a century of American dominance that started with the Model T Ford. The nation’s sales of passenger cars, buses and trucks rose to 13.6 million, the fastest […]
