Archive for September, 2009
Phoenix Budget Situation: “Much Worse Than the Worst-Case Scenario”
September 14th, 2009Via: Arizona Republic: Seven months after Phoenix made its largest budget cuts in history, City Manager Frank Fairbanks has informed City Council members that the cutting may not be over. The city could face a budget shortfall of $65 million to $95 million in the middle of the current fiscal year, Fairbanks said, as Phoenix […]
Captain Obvious: Banking Crisis Bigger Than Before
September 14th, 2009Via: Bloomberg: Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc. “In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today […]
Indicted Financier Danny Pang Dies in California
September 13th, 2009Via: Bloomberg: Danny Pang, the founder of Private Equity Management Group Inc., who U.S. regulators claim bilked Taiwanese investors, died today, a spokesman for the Pang family said. Pang, 42, had been taken from his Newport Beach, California, home yesterday afternoon by paramedics who had responded to a call from the house, said Sergeant Doug […]
10 Bubbles In The Making
September 13th, 2009Business Insider: 10 Bubbles in the Making Research Credit: Lagavulin
Vladimir Putin Signals Plan to Reclaim Old Job as Russian President
September 13th, 2009Via: Guardian: Vladimir Putin dropped the heaviest hint so far that he aims to return to his former post as president in 2012, a move that could see him still in the Kremlin in 2024 – aged 72. Speaking to a group of international scholars and journalists at his country residence, the Russian prime minister […]
Christopher Kelly, Key Figure in Blagojevich Corruption Probe, Is Dead
September 13th, 2009Oh Sure: Possible Overdose on Over-the-Counter Medicines Via: Chicago Tribune: Christopher Kelly, a key figure in the federal corruption probe into former Gov. Rod Blagojevich, is dead. The Cook County medical examiner’s office today confirmed that Christopher Kelly of Burr Ridge was pronounced dead at Stroger Hospital at 10:46 a.m. The office said Kelly died […]
Sonic Crowd Control Weapons at Congressional Townhall Meetings in San Diego County
September 12th, 2009Listen closely around 1:40: Via: East County Magazine: “Long-range acoustic devices [LRADs] for crowd control can be extremely dangerous. These are used in Iraq to control insurgents. They can cause serious and lasting harm to humans…We want to know WHY our Sheriff Dept has this weapon,” Sal Magallanez of San Diego-based Liberty One Radio said […]
Dow Jones Industrial Average Closes
September 12th, 2009The close of the DJIA on 9/10/2001: 9,605.51 The close of the DJIA on 9/11/2009 : 9,605.41
FDIC Friday: Corus Goes Down, Two Others
September 12th, 2009Via: Bloomberg: Corus Bankshares Inc.’s Corus Bank, the Chicago lender crippled by construction loans for condominiums, was seized by regulators and its $7 billion in deposits were acquired by MB Financial Inc. MB Financial Bank, which has more than 80 branches in the Chicago area, agreed to pay a premium of 0.2 percent for the […]
The Coming Consequences of Banking Fraud
September 12th, 2009Via: Seeking Alpha: The Double Dip Recession, or the “W” shaped recovery that a minority of economists, such as Joseph Stiglitz, is now stating as a strong possible outcome of this current rally, should not be discussed in the realm of economics but rather in the more apropos realm of financial fraud. The fact that […]
