Tuesday, March 25, 2008

More economic issues

OHIO: Nearly one in 10 now receives food stamps; highest number in state's history...

US federal home loan banks get $100B in extra mortgage-buying power: The Federal Home Loan Bank system can increase purchases of Fannie Mae and Freddie Mac securities by $100 billion (€64.8 billion) over two years in the latest government effort to stabilize the devastated market for mortgage-backed assets.

Bank of America may face $6.5 bln loan loss-analyst: Bank of America Corp, the largest U.S. retail bank, may set aside a record $6.5 billion in the first quarter to cover possible future loan losses, including in its mortgage and home equity portfolios, according to a banking analyst.

Food stamp use hits all-time high in Ohio: Amid a sluggish economy, a record 1.1 million Ohioans are getting food stamps, the state’s welfare agency said. That’s about 10 percent of the state’s population.

Inflation Hits the Poor Hardest: Inflation is walloping Americans with low and moderate incomes as the prices of staples have soared far faster than those of luxuries

California: Ontario thinning homeless population at Tent City: Authorities will begin forcing people without local ties to leave a homeless encampment that has grown to nearly 400 residents.

Banks warned to curb payouts as crisis bites: BANK OF England governor Mervyn King used his now-famous meeting with the chief executives of the "big five" UK banks last Thursday to admonish them for increasing shareholder dividends, as they came begging for more aid to help resolve their liquidity problems, the Sunday Herald understands.


The Financial Destruction Of The Average Man

Oil Down On Demand And Dollar Worries

Home Sales Up Slightly - Price Down Sharply

JP Morgan May Spend More On Bear Stearns

Another Way Around The Credit Crisis

Gas Prices Skyrocket To All-Time High

Fed Rescue Stopped A Derivatives 'Chernobyl'

Qualified Borrowers Face Credit Squeeze

Are ALL Big Wall St Investment Banks Insolvent?

US Consumers Battered By Inflation, Soaring Fuel Costs

Bank Of England Tries To Ease Market Strain

Fed's Move To Stop Panic Gets Praise, Scrutiny

S&P - More Pain Ahead - Lehman, Goldman Negative

Banks Lose To Deadbeat Homeowners

Silver Shortage - 19 Dealers 'Sold Out'

Goldman, Lehman Cut To 'Negative' By S&P


LaRouche - 'Paulson Is 'F**king Incompetent'


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