Friday, May 08, 2009

More economic issues





FT: Emotions may yet save economy...

Massachusetts welfare recipients provided cars at taxpayer expense...
After bailout, GM to move jobs overseas...

...bankruptcy looms

TOYOTA posts first loss, sees worse ahead...

Stress Tests Find Banks Need Additional $75B ...


Political risks grow in financial crisis...

$58: Oil prices jump to new six-month high...

KBR Connected to Alleged Fraud, Pentagon Auditor Says: KBR, the Army's largest contractor in Iraq and Afghanistan, is linked to "the vast majority" of suspected combat-zone fraud cases that have been referred to investigators, as well as a majority of the $13 billion in "questioned" or "unsupported" costs, the Pentagon's top auditor said yesterday.

Bank of America comes up $34bn short in stress test: The US government has told BoA to bolster its capital cushion – and similar instructions are expected at up to 10 other banks

Wells Fargo said to need $15 billion: Wells Fargo & Co., the fourth-largest U.S. bank by assets, requires about $15 billion in new capital as a result of regulators' stress test on the lender, according to a source familiar with the matter.

Wells Fargo freezes traditional pension plan: Wells Fargo & Co. told employees on Monday it will no longer contribute to their traditional pension plan, effectively cutting the total compensation of its workers less than two weeks after announcing record first-quarter profit.

20% of homeowners 'underwater': Study finds more than 20% of U.S. homeowners - about 20 million residences - owe more than their homes are worth.

Rich Default on Luxury Homes Like Subprime Victims: The number of U.S. homes valued at more than $729,750, the jumbo-loan limit in the most affluent areas, entering the foreclosure process jumped 127 percent during the first 10 weeks of this year from the same period of 2008,

NY Fed Chair Quits - Stock Purchase Questions

Green Shoots Or Greatest Desperation?

US Banks Need $55B In Capital To Survive

BoE Holds Rates - Adds £50B Quantitative Easing

China Fears Bond Crisis - Hits Quantitative Easing

Paradox Of Capitalism Must Be Resolved

Markets Bet Worst Is Over

Gold Sales Cost Euro Central Banks $40B

Lloyds Banking Warns Of Company Debt Surge

Madoff Secy Says Bernie Over-Controlling, Sexist

General Motors To Temporarily Shut Parts Plants

AIG Bonuses Four Times Higher Than Last Year!

The Derivatives Elephant In The Room

22% Of US Homeowners Now Underwater

A Depression Is Unavoidable

Insiders Are Selling

Bernanke Sees Signs Of Recovery (huh?)

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