The Paulson And Bernanke Follies
A cabinet secretary is a person who has taken a job which they believe is the crowning honor of their career until they realize that they cannot do it and will never be what…
Economy
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Newest first · Page 402American Express (AXP): The Faithful Are Rewarded
Expectations for American Express’s (AXP) earnings were less than modest. Analysts polled by Thomson Reuters, on average, forecast earnings of $.59 for the quarter. Friedman, Billings, Ramsey reported that American Express reported default rates…
Credit Crisis Yield: 20 Million Lost Jobs
The UN may not be particularly good at mediating international disputes but it is one hell of a statistics bureau. International Labour Organisation, part of the worldwide fellowship body, said that the global recession…
Bernanke Calls A Recession, Without The Words
Ben Bernanke is set to testify on in Washington D.C. before the U.S. House Budget Committee on the economic recovery. If you look at the prepared comments, it certainly doesn’t sound like the ecoonomy…
Cox Wants More Disclosure On Credit Default Swaps, Which He Should Have Asked For Years Ago
SEC Chairman Christopher Cox may go down in history as the worst person to ever run his agency. He has been flat-footed and tardy on almost every critical action that the SEC could have…
Credit Crisis In Hand, Economy Faces Rolling Lay-Offs Which Could Hit Millions
Now that the government has done its best to address the credit and banking crisis by putting $700 billion into the American financial system, the economy faces what is likely to be a very…
As Recession Spreads, Small Businesses Start To Cut Jobs
The credit crisis has been so severe that even the largest companies in the US have had trouble getting access to the capital markets. Firms as large as GM (GM), Goodyear, and Gannett (GCI)…
The Caste System At The Core Of The Credit Crisis
The great fraud perpetrated by the criminal manipulators at the top of the US financial system was that almost every American could move up a level in the US caste system, an entity whose…
Saving The Economy By Forgiving Or Putting Off Debt Payments
A sort of shadow economy has been forming. The sherriff in Cook Country, Illinois has stopped enforcing evictions on may foreclosed homes. According to The Chicago Tribune, Sherriff Tom Dart cited the growing number…
Credit Crisis Report 10/12/2008 Problems Deepen (MS)(RBS)(HBO)(FNM)(FRE)(GM)(F)
The IMF said that the world banking system faces of meltdown if governments does not take immediate action to support that largest banks. Based on comments from Paulson, the US may be moving a…
IMF Says Markets Could Drop Another 20%
The people who run the International Monetary Fund probably don’t have any money in the stock market. They as the bond-owner, conservative sorts. Their risk aversion has not taken away their pessimism, and it…
Alec Baldwin’s professional opinion of the market
Saturday Night Live’s take on the health of your portfolio and what you should do about it, circa dotcom crash, 2001
Dow 7,000 May Make Sense
While no one would have imagined several weeks ago that the Dow could drop to 7,000, it may make sense and could build a base from which the markets might recover. The last time…
New “Wall Street Journal” Survey: Worst Recession In Over 50 Years
The people at The Wall Street Journal have been working overtime to depress their readers. In the latest Wall Street Journal forecasting survey, "On average, the 52 economists surveyed now expect gross domestic product…
The Stock Market In The Emergency Room, The Fed Cutting Rates To A Negative 2%
Physicians who spend time in emergency rooms are trained to work on the patient and separate themselves from his pain. Doctors have learned that they must diagnose and solve problems efficiently because there is…