Archive for November, 2008
Lehman Good-for-Retirement Notes Almost Worthless
November 3rd, 2008Via: Bloomberg: UBS AG, Switzerland’s largest bank, faces dozens of claims in the U.S. from clients who bought “100 percent principal protected notes” issued by Lehman Brothers Holdings Inc. that are now almost worthless. Six attorneys hired to represent clients in the cases say UBS brokers touted the so-called structured notes as low-risk investments and […]
A Guide for Americans Seeking Affordable Medical Treatment Abroad
November 3rd, 2008Via: Los Angeles Times: When Andy Dijak injured his right knee playing tennis, he wasn’t surprised that he needed surgery. “It swelled up like a balloon,” said the 50-year-old West Lake resident. The real shocker was the price tag: $12,000 to $15,000 to repair tattered cartilage. Dijak, a creative director for an entertainment company, has […]
Students in U.K. Schools Grow Food Amid Credit Crisis
November 3rd, 2008Via: Bloomberg: Growing food is on the curriculum at Leaden Hall private school for girls in southwest England, and students can thank the credit crisis. “Pupils are growing potatoes, tomatoes, runner beans and courgettes,” said Diana Watkins, the head teacher of the school of 231 students, including 40 boarders, in the town of Salisbury. Planting […]
Ordo Ab Chao: Scandinavian Countries Consider Move to Euro
November 1st, 2008Via: Independent: The Danish and Swedish governments have begun preparing the ground for referendums on joining the euro, as part of a huge political reversal across Europe’s northern fringes in favour of the single currency. Although voters have overwhelming rejected the euro in the past, both countries are now pointing to the recent damage inflicted […]
In the Last Six Weeks, the Federal Reserve Has Doubled the Amount of Total Credit in the Banking System Since 1913
November 1st, 2008Via: Contrarian Profits – Richard Daughty: Almost a trillion dollars of new credit in 6 weeks! Gaaaahhhh! My hands now mysteriously clenched into Mogambo Fists Of Outrage (MFOO), I am forced to clutch a pencil between my teeth and try to laboriously calculate that if $1,803 billion in Federal Reserve credit is up $915 billion […]
China: Melamine Regularly Added to Animal Feed
November 1st, 2008Via: AP: First it was baby milk formula. Then, dairy-based products from yogurt to chocolate. Now chicken eggs have been contaminated with melamine, and an admission by state-run media that the industrial chemical is regularly added to animal feed in China fueled fears Friday that the problem could be more widespread, affecting fish, meat and […]
Nevada Has Highest Percentage of ‘Under Water’ Households
November 1st, 2008Via: Wall Street Journal: Nevada leads the U.S. in the proportion of households whose mortgage debt exceeds the current estimated value of their homes, a condition known as being “under water,” according to a new study. First American CoreLogic, a real-estate data firm based in Santa Ana, Calif., estimated that 48% of owners of single-family […]
