CEOs, famous investors hit hard by market plunge...
Bush administration denies bailout money to GM... Developing...
IMF needs hundreds of billions of dollars more: Prime Minister Gordon Brown said the International Monetary Fund (IMF) needs "hundreds of billions of dollars" to help countries at risk of collapsing amid the world financial crisis.
Pension Time Bomb Explodes In US and Canada: A huge taxpayer backlash against overly generous public pension plans is brewing. Boomers with destroyed stock funds and IRAs are not going to want to have taxes increased so that public workers can get 90% of their salaries for the rest of their lives during retirement.
One in five homeowners with mortgages under water: - Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens, a report on Friday shows.
U.S Gap Between Rich and Poor Widening!
By Bob Kendall
Now that the U.S.A. has discovered that only Mexico and Turkey had poverty rates higher than the 30-country study by the Organization for Economic Cooperation and Development, what if anything will be done to help the U.S. poor obtain health care? Continue
Wall Street Bonus Madness: Wall St. has created such an "obscene" standard of compensation that the big shots really believe "it's hard to live on just a half million dollars a year." This does not appear to be much of an exaggeration. The Federal Reserve Bank of New York reported securities-industry employees averaged $400,000 a year in salary alone last year.”
Broken Securities Industry Still Has $20 Billion to Pay Bonuses: - Five straight quarters of losses and a 70 percent slide in its stock this year haven't stopped Merrill Lynch & Co. from allocating about $6.7 billion to pay bonuses.
Medicare drug plan spending drops $6B in 2008: In a rare bit of good news for taxpayers, the cost of the Medicare prescription drug program fell $6 billion this year — savings driven by the widespread use of low-cost generic drugs.
Paulson's Swindle Revealed
By William Greider
The swindle of American taxpayers is proceeding more or less in broad daylight, as the unwitting voters are preoccupied with the national election. Treasury Secretary Hank Paulson agreed to invest $125 billion in the nine largest banks, including $10 billion for Goldman Sachs, his old firm. But, if you look more closely at Paulson's transaction, the taxpayers were taken for a ride--a very expensive ride. Continue
The World Tires of Dollar Hegemony
By Paul Craig Roberts
What explains the paradox of the dollar’s sharp rise in value against other currencies (except the Japanese yen) despite disproportionate US exposure to the worst financial crisis since the Great Depression? Continue
Europe's looming crisis: It all started with sub-prime loans in the United States. Or did it? As the IMF is called in to bail out failing economies, the scale of European exposure to toxic debt is becoming clear
AIG used billions from Fed but hasn't said for what: The American International Group is rapidly running through $123 billion in emergency lending provided by the Federal Reserve, raising questions about how a company claiming to be solvent in September could have developed such a big hole by October. Some analysts say at least part of the shortfall must have been there all along, hidden by irregular accounting.
Goldman Sachs ready to hand out £7bn salary and bonus package... after its £6bn bail-out: Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million.
Taxpayers Could Cover Government Pension Shortfall: Illinois taxpayers may soon be called on to bail out what is arguably the best-funded public pension plan in the state thanks to $3.6 billion in fund losses caused by the spiraling economy.
Exxon Mobil posts biggest US quarterly profit ever: Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.
Global Markets End Oct - Worst Losses Ever
The End Of Economic Prosperity
Global Financial Matrix Disintegrates
Goldman UK To Give $14B Salary/Bonus Package
Brown Takes IMF Begging Bowl To MidEast
Germans Freeze ¤30B Property Funds
PPT Anti-Gravity Machine Works On Dow
FL's Freedom Bank 17th In Closed This Year
Two-Thirds Of China's Billionaires Wiped Out
Investors Shun Greek Debt - Shipping Crisis Grows
Rescued RBS To Pay Millions In Bonuses
Stocks End Worst Month In 21 Years
Bushco's Final, Frantic Looting Of Public Wealth
Japan Cuts Interest Rates To 0.30%
America Rolls Toward Recession
Lehman UK - Time For The Serious Fraud Office
Thomas Jeffereson Knew About The Banksters
Will Gold And Silver Futures Default?
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