Archive for June, 2009
U.S. Cities May Have to be Bulldozed in “Shrink to Survive” Strategy
June 13th, 2009Change. Via: Telegraph: Dozens of US cities may have entire neighbourhoods bulldozed as part of drastic “shrink to survive” proposals being considered by the Obama administration to tackle economic decline. The government looking at expanding a pioneering scheme in Flint, one of the poorest US cities, which involves razing entire districts and returning the land […]
Connectivity Problem Temporarily Halts Trading on About 240 NYSE Companies
June 12th, 2009Multiple redundant data links and servers… Nothing to see here. Via: Reuters: A loss in server connectivity that caused the New York Stock Exchange to halt trades in about 240 companies has been restored, Ray Pellecchia, spokesman for NYSE Euronext, said on Friday. Pellecchia said the exchange was not planning on canceling trades in the […]
Military Hush-Up: Incoming Space Rocks Now Classified
June 12th, 2009I don’t know what to do with this one. Via: Space: For 15 years, scientists have benefited from data gleaned by U.S. classified satellites of natural fireball events in Earth’s atmosphere – but no longer. A recent U.S. military policy decision now explicitly states that observations by hush-hush government spacecraft of incoming bolides and fireballs […]
The Federal Reserve Would Be Shut Down If It Was Audited
June 12th, 2009Oh, you can’t just keep throwing confetti through the paper shredder indefinitely and then not account for where it went? Woops. Related: H.R. 1207: Federal Reserve Transparency Act of 2009 Via: CNBC: The Federal Reserve’s balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional […]
“Capitalism” 2.0: Stimulus Fraud Could Reach About $50 Billion
June 12th, 2009Via: MarketWatch: Swindlers, con men, and thieves could siphon off as much as $1 out of every $10 spent as billions of dollars in stimulus money begin flowing into all corners of the economy in coming months. Companies will face increased pressure to try to stem the tide, and need to be prepared to safeguard […]
Bank Rescue Costs EU States $5.3 Trillion, More Than German GDP
June 12th, 2009Via: Bloomberg: European governments have approved $5.3 trillion of aid, more than the annual gross domestic product of Germany, to support banks during the credit crunch, according to a European Union document. The U.K. pledged 781.2 billion euros ($1.1 trillion) to restore confidence in its lenders, the most of any of the 27 EU members, […]
Cryptogon Readers Sign Up for Hosting with BlueHost
June 12th, 2009Thanks to the owners of the following domains for signing up for hosting with BlueHost: losnemo.net estudioinc.com plugnickeltimes.com There was also a BlueHost signup from a reader who requested no acknowledgment. Thanks. Cryptogon received a total of $360 in commissions as a result of these signups. So far, June is the slowest month for direct […]
Cryptogon Readers Send Contributions
June 12th, 2009Pookie sent $75. FB sent $25. BS sent $25. Thank you.
May Earnings
June 12th, 2009Earnings from all sources came to a total of $1315.31. Thanks to all direct contributors and to readers who used affiliate links for making May a great month for earnings. Apologies for being so late with bookkeeping and acknowledgments. Things have been busy around here, as I’m sure you’ve noticed.
And Now… The Commercial Mortgage Blitzkrieg
June 12th, 2009Via: Bloomberg: Investors in bonds that packaged $62 billion of debt for U.S. offices, hotels and shopping malls are bracing for more loan defaults through 2010 as Bank of America Merrill Lynch says landlords’ monthly payments may jump 20 percent or more. Principal is coming due on the so-called partial interest- only loans as an […]
