INVESTORS ASK SUPREME COURT TO HALT CHRYSLER SALE
Unemployment rises to 9.4%...
Hits 25-Year High...
Jobs Report Fuels Attacks on Obama...
GE/NBC PUNISHED NEWSPAPER OVER COVERAGE OF 'SHAREHOLDER REVOLT'...
Oil prices spike above $70...
Securitization: The Biggest Rip-off Ever
By Mike Whitney
Is it possible to make hundreds of billions of dollars in profits on securities that are backed by nothing more than cyber-entries into a loan book? It's not only possible; it's been done. Continue
Illiteracy in High Places
Forgetting What We Learned
By Paul Craig Roberts
The hubris is extraordinary. A bankrupt government that has to send its Treasury Secretary begging to China thinks it can spend limitless amounts in a futile effort to control the culture, mores, and political system of distant Afghanistan. Continue
U.S. jobless rate hits 9.4 percent: The BLS said the unemployment rate continued to rise, increasing to 9.4 percent from 8.9 percent. Steep job losses continued in manufacturing, while declines moderated in construction and several service-providing industries.
Canada Jobless Rate Hits 11-Year High, Led by Plants : A net 41,800 people lost their job during the month and the unemployment rate climbed more than expected to 8.4 percent, Statistics Canada said today in Ottawa.
Jobless Rate in Europe Rises Further: The seasonally adjusted unemployment rate for the 16 countries that use the euro currency rose to 9.2 percent in April, the highest rate since September 1999, from 8.9 percent in March, the Eurostat agency, the bloc’s statistics office, said Tuesday. In April 2008, the unemployment rate was 7.3 percent.
Ireland's unemployment rate hits 13-year high of 11.8 percent; welfare claims at record high: The report said the number of people claiming jobless benefits has nearly doubled over the past year to 397,000, an unprecedented high dating back to the foundation of the Irish state in 1922.