The States are burdened with high deficits that cannot be lowered without additional sources of revenue. Every state in the union is battling revenue shortfalls and escalating public pension liabilities. Many States are cutting programs and trimming the ranks of their public employees. To make matters worse, in many states like California, the public is […]
The Republicans Are Toying With Bankruptcy as an Option for Cash Strapped States
The States are burdened with high deficits that cannot be lowered without additional sources of revenue. Every state in the union is battling revenue shortfalls and escalating public pension liabilities. Many States are cutting programs and trimming the ranks of their public employees. To make matters worse, in many states like California, the public is […]
Outsource Clearing House: Banks Fear Clearing House Risks
Outsource Clearing House: Clearing houses’ role in reducing counterparty risk demands higher capitalization say big banks. Outsource Clearing House says that it agrees with assertions at global banks that clearing houses must be made to hold enough capital in reserve to support the position they occupy between counterparties. In the aftermath of the financial crisis, […]
Top General admits: Iran will continue to arm “resistance groups” in the West Bank
The Commander of Iran’s Basij (volunteer) force Brigadier General Mohammad Reza Naqdi lauded the Palestinian resistance movements, Hamas and Islamic Jihad, for their recent victory in the Gaza war against Israel, and pledged again that “Iran would arm resistance groups in the West Bank”, according to a FARS news report. General Naqdi is highly regarded […]
“I guess this means my spring break in Siberia is off, my Gazprom stock is lost, and my secret bank account in Moscow is frozen”, says McCain
U.S. Senator John McCain (R-AZ) today released the following oddly worded statement on being sanctioned by Russian President Vladimir Putin. “I guess this means my spring break in Siberia is off, my Gazprom stock is lost, and my secret bank account in Moscow is frozen. Nonetheless, I will never cease my efforts on behalf of […]
Shutdown : Bankers and Major Institutional Leaders Forecast Worst Case Scenarios
From Wall Street to Beijing with a nod to Paris, the heads of major international organizations and major employers pressure members of Congress to resolve the debt crisis and avoid historically unprecedented financial consequences. Three weeks into the suspension of government functioning, there is still no agreement between Republicans and Democrats. And the entire world […]
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