Wednesday, January 28, 2009

More economic issues

Obama open to compromise on stimulus...
Bill Nears $900 Billion?
GOP: 'Won't stimulate anything but more government and more debt'...
Bleeding banks prompt talk of new big bailout...


Senator Warns White House Will 'Create Crisis and Widespread Panic' to Push Stimulus...

Financial Elite Have No Shame

By Linda McQuaig

Let's imagine, for a moment, how different the public debate would be today if it had been unions that had caused the current economic turmoil. Continue

California prepares to stop paying bills: Come Feb. 1, tax refunds, welfare checks replaced with IOUs

Consumer confidence hits another low: A new year and a new president failed to boost consumer confidence this month, as the outlook dropped to its lowest level in more than 40 years, according to a report released Tuesday.

Bloody Monday: Over 71,400 jobs lost: More than 200,000 job cuts have been announced so far this year, according to company reports. Nearly 2.6 million jobs were lost over 2008, the highest yearly job-loss total since 1945.

US firms announce heavy job cuts: US construction equipment giant Caterpillar earlier said it was to cut about 20,000 jobs, after its profits slumped by 32 per cent.

Fannie, Freddie may tap U.S. Treasury for $51 bln: The storm of rising delinquencies and falling securities values that led to the government's seizure of the companies in September accelerated in the last quarter, requiring Fannie Mae and Freddie Mac to seek more of the stop-gap measures organized by the U.S. Treasury and their regulator. Analysts predicted more capital needs from Treasury through 2009.

Forecasters see historic drop in retail sales: Half-percent downturn in ’09 would be the first one in at least 30 years

Road To Ruin: Twenty-five people at the heart of the meltdown: The worst economic turmoil since the Great Depression is not a natural phenomenon but a man-made disaster in which we all played a part. Julia Finch picks out the individuals who have led us into the current crisis

NY financier arrested in purported $400 million scam: Authorities on Monday arrested the chief executive of a private New York financing firm on suspicion of running a purported Ponzi scheme that attracted $400 million in investments, U.S. law enforcement officials said.

Monetary Velocity Explained

Bank Bailout Could Cost Four Trillion

World Recession Claims 80,000 Jobs In A Day

Iceland's Government Collapses

France Mass Strikes Protest Sarko Reforms

IMF, World Bank Call For Global Stimulus

Paulson Reaps $400M 'Shorting' RBS

Japan Offers $16.7B Troubled Firms

IMF Pressures China's Yuan

Brown's Tonic For Big Pharma

Fuld 'sold' $14m mansion to wife for $100

The Day Banks Were 3 Hours From Collapse

US Layoffs - 'No End In Sight'

Caterpillar, Sprint, Home Depot Cut 61,000 Jobs

BoA And Citi Could Fail Despite Bailouts

Brown - Crisis Is Birth Pangs Of A NWO

Brown - Recession Must Not Stop Globalisation

Wall St Investment Banks Vs Commercial Banks

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