Thursday, January 10, 2008

More Dollar problems

CITGO, Venezuela Distribute Oil To U.S. Services: For scores of low-income families it will be like the equivalent of winning a small lottery jackpot. A program run by former Congressman Joe Kennedy will deliver free heating oil – donated by Citgo and the Chavez regime in Venezuela – to some 200,000 households.

Goldman Sachs sees recession in 2008: Goldman Sachs on Wednesday said it expects the U.S. economy to drop into recession this year, prompting the Federal Reserve to slash benchmark lending rates to 2.5 percent by the third quarter.

Countrywide Loses Most Since 1987 on Funding Concern: Countrywide Financial Corp. dropped the most since Black Monday in October 1987 in New York trading on speculation that it needs cash to continue operating its mortgage business.

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