Archive for the 'Economy' Category

24 Apr

Please wake me from the nightmare. Plz?

From Bloomberg.com:

Bear, AIG Dumped $74 Billion in Subprime, CDOs on Fed (Update1) By Mark Pittman
April 24 (Bloomberg) — The Federal Reserve took on more than $74 billion in subprime mortgages, depreciating commercial leases and other assets after Bear Stearns Cos. and American International Group Inc. collapsed.
In its biggest disclosure of the securities accepted to stabilize [...]

04 Apr

Banking, bailouts and government cover up

You can do one of two things with this information.
Watch the Bill Moyers interview, read the linkys, and understand what’s going on with the banks and the bailouts (EPIC FUCKING FRAUD AND GOVERNMENT COVER UPS).
Or choose to put your head in the sand so you don’t get freaked out.
I would not blame one bit you [...]

23 Mar

Treasury will take over Bear Stearns, AIG assets from Fed

From MarketWatch:

Treasury will take over Bear Stearns, AIG assets from Fed
By Greg Robb
Last update: 4:39 p.m. EDT March 23, 2009
WASHINGTON (MarketWatch) — The Treasury and the Federal Reserve released a joint statement Monday that spells out the different responsibilities of the two agencies in dealing with the financial crisis. In the most noteworthy part of [...]

18 Mar

Not so fast…

I’m not a regular New York Post reader, but today’s cover is pretty good…

Clicky on image to go to articles.

17 Mar

Petition: “No More Dough Till We Know Where It Goes”

From Firedog Lake:
No More Dough Till We Know Where It Goes
Tell Congress — no more money for banks until they tell us where it has all gone. We’ll be delivering your comments personally to members of Congress this Wednesday, when Barney Frank’s Financial Services Committee holds an AIG hearing on Capitol Hill.
Petition Text:
Dear [...]

07 Mar

Worth a Read: Sanity Check

Ran into this article on Bob O’Brien’s Sanity Check blog earlier today:

Random Musings On The End Of The American Experiment
I think the defining moment for me was when Bernanke responded to the question from Congress, as to whether the American people (and their elected representatives in Congress) would be told to whom all their tax [...]

28 Feb

AIG Sues U.S. Government (WTF?) [UPDATE 1]

AIG Sues U.S. Government to Recover $306 Million in 1997 Taxes
2009-02-27 21:22:57.859 GMT
By David Glovin
Feb. 27 (Bloomberg) — American International Group Inc., the insurer in talks to restructure its federally funded
$150 billion bailout, sued the U.S. government to recover $306 million in taxes.
In a 52-page complaint filed today in Manhattan federal court, AIG said the [...]

20 Feb

Madoff scheme: “It was all just made up”

From the Department of ARE THEY FUCKING KIDDING ME???
From CNBC:

Madoff Trustee: No Securities Bought in 13 Years
The trustee in charge of untangling the mess brought on by the Bernard Madoff scandal told investors Friday there was no indication the disgraced financier bought securities for his clients.
“We have no evidence to indicate securities were purchased for [...]

19 Feb

CNBC’s Rick Santelli: “Chicago Tea Party in July”

CNBC’s Rick Santelli on the floor in Chicago this morning, on a rant about President Obama’s $75 billion mortgage relief plan.
Now THIS is a rant.  
Instant classic. 

Chicago in July? I’m in.
Vote in CNBC’s “Would You Join Santelli’s Chicago Tea Party?” poll here: http://www.cnbc.com/id/29283701
As of this posting: 7769 responses, 87% said “Yes”.

16 Feb

Inside the Meltdown

Tomorrow on Frontline on PBS:
FRONTLINE investigates the causes of the worst economic crisis in 70 years and how the government responded. The film chronicles the inside stories of the Bear Stearns deal, Lehman Brothers’ collapse, the propping up of insurance giant AIG, and the $700 billion bailout. Inside the Meltdown examines what Treasury Secretary Henry [...]


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