Archive for the 'Economy' Category
Goldman Sachs Hires Law Firm to Shut Blogger’s Site: GoldmanSachs666.com
April 12th, 2009Via: Telegraph: Goldman Sachs is attempting to shut down a dissident blogger who is extremely critical of the investment bank, its board members and its practices. The bank has instructed Wall Street law firm Chadbourne & Parke to pursue blogger Mike Morgan, warning him in a recent cease-and-desist letter that he may face legal action […]
FDIC Friday: Two More Banks Fail
April 11th, 2009Via: Bloomberg: Banks in Colorado and North Carolina were shut as rising unemployment and a loss of jobs shrinks household wealth in the deepest recession in a quarter century, pushing the toll of U.S. bank failures to 23 this year. New Frontier Bank in Greeley, Colorado, with $2 billion in assets and $1.5 billion in […]
U.S. BUDGET DEFICIT TRIPLES TO $957 BILLION SO FAR THIS FISCAL YEAR
April 11th, 2009Via: MarketWatch: The U.S. federal budget deficit rose to a record $956.8 billion in the first six months of the fiscal year after the government stepped up spending to cope with a recession that has depressed tax receipts, the Treasury Department reported Friday. The deficit is well on its way to the $1.75 trillion — […]
Help, My Degree Is Underwater
April 11th, 2009This is another story about people who spent a lot of time and money getting graduate/professional degrees and are now screwed. Lawyers! Woops: I also heard from law school graduates with $200,000 in debt who wonder what they were thinking as firms downsize and implode. “It is a nightmare,” writes Benjamin, who got laid off […]
U.S. May Enlist Small Investors in Bank Bailout
April 11th, 2009Buy Obama’s Banker Bailout Bonds! Yes, we can! Via: New York Times: During World War I, Americans were exhorted to buy Liberty Bonds to help their soldiers on the front. Now, it seems, they will be asked to come to the aid of their banks — with the added inducement of possibly making some money […]
Fed Said to Order Banks to Keep Quiet on ‘Stress Test’ Results
April 11th, 2009Via: Bloomberg: The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of “stress tests” that will gauge their ability to weather the recession, people familiar with the matter said. The Fed wants to ensure that the report cards don’t leak during earnings conference […]
Pentagon Preps for Economic Warfare
April 10th, 2009Via: Politico: The Pentagon sponsored a first-of-its-kind war game last month focused not on bullets and bombs — but on how hostile nations might seek to cripple the U.S. economy, a scenario made all the more real by the global financial crisis. The two-day event near Ft. Meade, Maryland, had all the earmarks of a […]
More Squatters Are Calling Foreclosures Home
April 10th, 2009Via: New York Times: When the woman who calls herself Queen Omega moved into a three-bedroom house here last December, she introduced herself to the neighbors, signed contracts for electricity and water and ordered an Internet connection. What she did not tell anyone was that she had no legal right to be in the home. […]
Former U.S. Lawmakers to Join Lobbyists
April 10th, 2009Via: Bloomberg: Lobbying, scorned during the 2008 campaign, is an occupation of choice among former members of Congress looking for jobs. Barack Obama shunned political contributions from lobbyists and, on his second day as president, announced new ethics rules to reduce their influence. Republican nominee John McCain disdained lobbyists as “birds of prey.” Still, about […]
Las Vegas CityCenter
April 10th, 2009Via: Reuters: It was conceived as the centerpiece of a thriving Las Vegas — one of the world’s most expensive building projects that would bring back glamour to the Strip and cap an unprecedented three-year economic boom. Instead the $9 billion development named CityCenter — touted as the city’s most ambitious endeavor — has come […]
