Wednesday, May 06, 2009

More economic issues

GM plans 1-for-100 reverse stock split...

Buying Brand Obama

By Chris Hedges

Barack Obama is a brand. And the Obama brand is designed to make us feel good about our government while corporate overlords loot the Treasury, our elected officials continue to have their palms greased by armies of corporate lobbyists, our corporate media diverts us with gossip and trivia and our imperial wars expand in the Middle East. Continue

USA: No Longer Ruled By Law

By Paul Craig Roberts

It has been more than 100 days of Barack Obama in office. Reviewing his policy, the election honeymoon was not that sweet to begin with and many in the US seem disappointed. Prominent economist Paul Craig Roberts is among those. Continue

EU recession 'worse than thought': Mired in the worst recession since World War II, the European commission said that the economies of both the EU and the 16-nation eurozone were forecast to contract four per cent this year - more than double its previous forecast.

As Foreclosures Surge .... The Obama administration sat by last week as 12 Senate Democrats joined 39 Senate Republicans to block a vote on an amendment that would have allowed bankruptcy judges to modify troubled mortgages.

Ten Stressed Banks Will Need More Capital: Stress tests identify about ten; Wells, BofA, Citigroup face order to refill coffers

BofA and Citi in last push on stress tests: People close to the situation said Citi, BofA and at least two other lenders will on Monday attempt to convince the Treasury and the Federal Reserve that the findings of “stress tests” into their financial health were too pessimistic.

Obama Seeks End of Corporate Tax Break to Raise $190 Billion: President Barack Obama proposed raising about $190 billion over the next decade by outlawing three offshore tax-avoidance techniques used by U.S. companies such as Caterpillar Inc. and Procter & Gamble Co.

401(k)s Hit By Withdrawal Freezes - WSJ

'Money Industry' Bought Control Of US For $5.2 Billion

GM Shareholder Wipeout

US Banks Surges On Test Hopes

Scholar Goes Online To Differ With Obama

London Market Hits Four Month High

UK Falls From Intl Top 10 Prosperity

Ruthless Emplolyers Love Recession

Brussels Sees UK Economy Shrinking 3.8%

UBS - Market Rally No Sign Crisis Is Waning

Rising Reserves Unused Oil Strain Storage

Europe Accused Of Protectionism

Brussels Doubles EU Recession 'O9 Forecasts

The World Bank's Shameful Record

Cash-Strapped Nations Raise Heat On Rich

Chinese Told Smoke More To Boost Economy

BoA & Citi In Last Push On Stree Tests

Berlusconi Faces Divorce Battle Over £4.5B Fortune

Boston Globe Facing Closure

Average UK Worker Pays £7.27 An HOUR in TAX

Longer Life Raises Bill For Taxpayers

Recession Fuels Big Rise In Financial Crime

Responding To The Triple Crunch

Barclays And Ghana Plan Tax Haven

Fiat In Talks To Buy GM Europe

Asia Establishes $120B Crisis Fund

Japan Offers $100B For Asian Economies

China, India Post Manufacturing Gains

Internet Pyramid, Ponzi Frauds, Schemes Rising

China Defies Depression - New Economic Superpower

Advertising Giant WPP To Chop 7,200 Jobs

Buffett - We've Been Hit By Financial Hurricane

ECB To Slash Rates To Record Low

Bank Objections To Delay Stress Tests

Study Shows Network Between Govt & banks

China Cuts Back On Buying US Debt

'Average' American On The State Of The Economy

Gold Isn't Going To $2,000

Company Failures Are Tip Of The Ice Berg

Flu Pandemic Could Wipe 7% Off UK Economy

Chrysler In Doomsday Jobs Loss Warning

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