Life the Universe and ....: More economic issues

Friday, February 20, 2009

Bank stocks fall to 17-year low; Fears mount over nationalization...T'S HERE: INFLATION TAKES BIGGEST JUMP IN 6 MONTHS...

FEDS ACCUSE UBS BANK OF HELPING TAXPAYERS GO OFFSHORE; 52,000 CUSTOMERS HID ACCOUNTS... 'Boldfaced names' in NY, LA, Miami... Bank secrecy threatened...California approves long-awaited budget... Schwarzenegger Flexes... 'Just what California needs...'TRADERS REVOLT: CNBC HOST CALLS FOR NEW 'TEA PARTY'; CHICAGO FLOOR MOCKS OBAMA PLAN... CNBC POLL: Would You Join 'Chicago Tea Party?'

"Worst Is Yet to Come:"

Americans' Standard of Living Permanently Changed

By Aaron Task

"The worst is yet to come," according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American's standard of living is undergoing a "permanent change" - and not for the better . Continue

Should I Laugh Or Cry?

Stimulus Package Tax Credit Should Mean $8 To $10 A Week

By James Oliphant

A little goes a long way, some experts say of the projected increase in take-home pay, but critics say individual taxpayers aren't getting a big enough break. Continue

Organize!

Many Employers Are Just Using the Recession to Stick it to Workers

By Dave Lindorff

Whatever the truth is about where this economy is heading, one thing is clear: employers are taking every opportunity to slash employment and, if they are unionized, to hammer unions for pay cuts, even when there is no justification for these actions. Continue

Give Us Back Our F****** Money

By DontPanicOnline

- Warning - This Video Report Contains Strong Language

If you go to work everyday, 9-5 and then hand over about a quarter of your income to the government every month and you're not angry about the current banking F-up, then you’re either one of the financial or political elite that have been ripping off the world since time immemorial, or you’re a sniveling, subservient little slave and you deserve all the subjugation you get. Click to view

Venezuela seizes US 'fraud' bank: Venezuela has seized a local bank owned by Allen Stanford, the billionaire accused of a massive $8bn fraud by the US, after panicked investors withdrew millions of dollars worth of deposits.

France sends forces to Guadeloupe: France has sent hundreds of police reinforcements to the French-Caribbean island of Guadeloupe, as month-long strikes over declining economic conditions have spilled over into violence.

US fraud claim sparks bank panic: Hundreds of investors in Latin America and the Caribbean have rushed to withdraw money from banks linked to US billionaire Allen Stanford after he was charged over an alleged $8bn fraud.

Madoff Loss Spawned in ‘Bargain With Devil’ at Cerberus Bank: - Two of Japan’s eight nationwide banks are braced for $2.6 billion in losses after investments by U.S. private equity groups, which the Obama administration is counting on to help bail out the U.S. financial system.

Germany Prepared to Lend Financial Help to Eastern Europe: "If help is needed we are ready, particularly through the IMF," Merkel said. "Germany will not refuse to (financially) support the IMF if necessary. But we should avoid talking down countries that are not encountering difficulties because there are lots of rumors circulating that can breed weakness."

Obama Stimulus Saves Microsoft Billionaire Hundreds Of Millions: Thanks to the stimulus bill President Obama signed this week, he's also about to be as much as a billion dollars richer.

Benefits neglected for civil retirees: State and local governments have set aside virtually no money to pay $1 trillion or more in medical benefits for retired civil servants, a USA TODAY survey found.

Give Us Back Our F****** Money: If you go to work everyday, 9-5 and then hand over about a quarter of your income to the government every month and you're not angry about the current banking F-up, then you’re either one of the financial or political elite that have been ripping off the world since time immemorial, or you’re a snivelling, subservient little slave and you deserve all the subjugation you get.

Auto bailout tab could top $130 billion : GM and Chrysler say they need $21.6 billion more in loans. But that won't be enough to save Detroit. Here's a rundown of all the auto bailout proposals.

Bad year for Goodyear employees: Goodyear Tire & Rubber Co. says it will cut some 5,000 jobs this year, after its fourth-quarter net loss was greater than expected.

Swiss bank UBS refuses US request for client names: Switzerland's UBS bank has refused a US government request to reveal the names of some 52,000 US nationals with Swiss bank accounts. UBS earlier agreed to pay US authorities $780 million to settle a tax fraud case.

Mega Billion Fraudster Stanford Found In VA

Stanford Mega Billion Fraud Spreads To 131 Countries

Hunt For Allen Stanford And His Billions

Venezuelans Owed 1/3 Fraud Standard

Venezuela Takes Over Stanford Bank

SEC Drops Ball Over Stanford

Stanford Panic Spreads As Fraud Inquiry Widens

Stanford Charges Spark Run On Banks

Wholesale Inflation Biggest Jump In 6 Months

Jobless Hit With Bank Fees On Benefits

Mega Billion Fraudster Stanford Found In VA

Dow Ends At Lowest Close In More Than Six Years