Thursday, July 09, 2009

More economic issues

Swiss vow to block bank handing over data to USA...

Justice Dept. demands UBS comply in tax evasion case...

Dems Split on Stimulus as Job Losses Mount, Deficit Soars ...

PAPER: Billions in aid go to areas that backed Obama in '08...
Health bill? Billions for parks, paths, farmers' markets...
Food Nanny: Feds to oversee school snack food...
Budget Cuts May Force Illinois To Free 10,000 Prisoners...

Congress digs into spending bills...

White House hit in skirmishes...

The Man Who Crashed the World

By Michael Lewis

Almost a year after A.I.G.'s collapse, despite a tidal wave of outrage, there still has been no clear explanation of what toppled the insurance giant. The author decides to ask the people involved-the silent, shell-shocked traders of the A.I.G. Financial Products unit-and finds that the story may have a villain, whose reign of terror over 400 employees brought the company, the U.S. economy, and the global financial system to their knees.
Continue

Australia: People's bank to break the Big Four: The so-called people's bank would be similar to New Zealand's successful Kiwibank, which was set up to break the dominance of the Australian-owned majors.

Big Banks Don't Want California's IOUs: A group of the biggest U.S. banks said they would stop accepting California's IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap.

Unemployment, Not the Stock Market, Distinguishes a Recession From a Depression: What are the most important and enduring characteristics of the Great Depression? And what should we monitor to determine how severe today’s situation really is?

Apartment Vacancy at 22-Year High in U.S., Says Reis : Job losses and falling wages are shrinking the pool of potential renters, defying forecasts that prospective homebuyers would rent rather that purchase as house prices decline.

True unemployment rate already at 20%: Not to scare you, but the situation is actually worse than it seems.

Goldman Could Lose Millions From Code Theft

The Man Who Crashed The World

Proprietary Trading May Cause October Crash

Recession May Trigger Housing Crisis

$400B SIV Market Sold Off In Two Years

US Vows Crack Down On Oil Price Speculators

Oil Price Spike Coming?

Shares Fall On Tumbling Oil

Economists Dash Hopes Of UK Recession End

Number Of London Homeless Leaps 15%

IBM To Shut Final Salary Pension Scheme

G8 Begins Amid Worsening World Recession Fear

Germany Considers Direct Lending

China's Dollar Delusion

EU Pushes For Cushion Banking Reform

G8 Risks Backtracking On Climate

Concerns Grow Over Gulf Banks

Govts 'Must Prevent Suicides During Recession'

Get The Cuffs - They're At It Again - Securitization

The Remedy - Nationalize The Money System

True US Unemployment Already 20%

CA Credit Rating Cut Close To Junk

Ex Goldman Employee Charged With Taking Secrets

British Airways Workers Vote Against Job Plans

Investment Banks, Like Roaches, Survive Nearly Anything




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