The US has given details of a $500bn (£343bn) plan to encourage private investors to buy up toxic assets. The plan will offer subsidies in the form of low-interest loans to private investors to encourage them to buy troubled mortgages and other loans. Writing in the Wall Street Journal, US Treasury Secretary Timothy Geithner said […]
Has the stock market finally hit bottom?
Has the stock market finally hit bottom? Since the rally began last week, the Dow is up 849 points, or 13 percent. A government report that home construction picked up in February was the latest bit of good news that rallied the market for a fifth straight day. Federal Reserve chairman Ben Bernanke also […]
The Middle East War: Is It A Banking War?
Since it is clear to most Americans at this point that America’s continued presence in the Middle East in both Iraq and Afghanistan is not at all primarily as a response and defensive mission with respect to the attacks on this country by Osama bin Laden and the Taliban in September 2001, but for purely economic […]
How to Cure the Golden Parachutes (And Stop The Corporate Thieves)
Recently I received a plea from a liberal left wing group and organization asking me if I would join in their fight to protest the fact that over 18 billion dollars from the last Congressional bailout of the banking industry went to the major executives of these supposedly failed banking institutions for their own severance packages and group therapy […]
Gates regains World`s Richest status
Microsoft founder chairman Bill Gates has regained the top spot in Forbes magazine’s annual ranking of billionaires worldwide, even as the worldwide economic recession slashed the number of billionaires to 793 from 1,125 last year. It was the first time since 2003 that the number of people on the world’s richest list declined, and the […]
List of Recipients of AIG Bailout Sums Raises More Questions
Below is a listing of prepared by AIG for the Department of the Treasury prior to it’s recent request for additional sums in order to cover 2008 fourth quarter losses. These financial institutions were apparently heavily invested in AIG and were recipients of some of the over 170 billion that thus far has been thrown […]
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