BANK PROFIT ROCKS STREET...
WELLS FARGO projects record $3 Billion...
REPORT: No banks will close due to stress tests...
Trade deficit in surprise drop to nine-year low...
No End In Sight
By Mike Whitney
China, Russia, Venezuela and Iran have already called for a change in the world's reserve currency. It won't happen overnight, but the momentum is steadily growing. Continue
Sleepwalking Our Way Towards a World Currency
By Edmund Conway
Let's assume for a moment that we are in the protean stages of a new world currency; that the G20's moves this time last week are laying the ground for its special drawing rights to replace the dollar as the international reserve currency. On that basis which of these two scenarios would you feel more uncomfortable with? Continue
Black Money: As the global financial downturn continues and pressure for profits increases on corporations across the world, a small group of lawyers in the U.S. Justice Department is pursuing an aggressive crackdown against an international business tactic -- bribery -- which the World Bank says amounts to as much as a trillion dollars a year in payments.
Fed sees economy sliding further: Federal Reserve policy-makers, faced with bleaker forecasts for a rapidly worsening recession, decided to buy a "substantial" amount of U.S. Treasury and mortgage debt to halt the slide, minutes of their most recent meeting showed on Wednesday.
Moody's Downgrades The Whole Country: For the first time ever, the ratings agency placed all munis on negative outlook, a precursor to potential downgrades. Historically, the agency looked at munis individually and considered them to be too diverse to make blanket statements about.
The banks are too powerful and they are ruining the rescue plan: Recent events have made me pessimistic that America's latest bank rescue plan will work. Worse, it is the disastrous banks themselves that are being allowed to wreck any efforts to resurrect the global economy.
Germany increases car subsidy to €5bn: Germany is more than tripling the incentives on offer to buyers of new cars as it attempts to boost its auto industry, which employs around 15pc of the nation's workforce.
Number of grown-up children returning to live with parents triples amid recession: The number of 18-34 years olds living rent free with family and friends has more than tripled as the recession bites, new figures suggest.
Sleepwalking Towards A World Currency
Fueling A New World Money Supply
EU Warns China Over Larger Steel Exports
More People Scrap Gold Jewelry For Cash
Colombian Coffee Prices Reach 11 Yr High
Australia's Jobless Rate Surges To 5.7%
London Empty Office Space Tops 10m Sq Ft
Number Of Adults Moving Back With Parents Triples
New Car Prices Below Used Models
Cramer A 'Buffoon' Says Leading Economist
Moody's Strips Buffett's Corporation Of AAA Rating
Revive Lincoln's Monetary Policy
Madoff's Talmud-Touting Collaborator
1934 FDR Depression Era Cartoon - Look Familiar?
Stanford, Merkin Face Fraud Cases Set
Derivatives Trading Crackdown Begins
ECB Hits G20 IMF Drawing Rights Plan
Japan Goods And Services Fall By Half
Soros Warns Shares Will Fall Further
Gold Sold For Scrap Outstrips New Purchases
Gold - Is Silver The New Gold?
Irish Hike Taxes, Cut Spending
World Bank Sees China Recovery This Year
General Motors Close To Bankruptcy
Goldman Chairman Admits Wall St Greed
AIG Payments To Banks To Be Probed
Moody's Uses First Amendment When It Suits
WH Accused Of Bailout Double Standards
Stanford - 'It's Baloney, Baloney, Baloney'
UK Court Freezes Stanford Bank Assets
UK Ind Production Down Most In 40 Yrs
G8 Warns Of Hunger Threat To Stability
Soros - 'Zombie' Banks Could Destroy All
Japan Announces $100bn Stimulus Package
Irish Govt To Deliver Emergency Budget
Oz - Historic A$43B Broadband Network Plan
UBS Halts Foreign Travel Over Tax Worries
Taiwan March Exports Drop 35.7%
Derivatives - The New Ticking Bomb
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