Posts tagged as:

economic crisis

Timothy Geithner Grilled and Drilled by Congress

November 20, 2009

Timothy Geithner, Secretary of the Treasury, was grilled and drilled by Congress reflecting the frustration of its members over the state of the economy.  In another country I feel most certain that Geithner could have been physically attacked.  It seems that everyone has his knickers in a twist.
Congressional members bombarded Geithner with hard luck stories [...]

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The Great American Stress Test

May 6, 2009

It is called the bank stress test, but in truth it is the American stress test.  Some banks reportedly need to raise more capital.  American families need more capital to stay afloat, too.  The real stress test is whether Americans who are feeling the real pinch in this economic crisis are willing to keep the [...]

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American Public Wins in House over Credit Card Banks

April 30, 2009

Perhaps, it was the November election of President Barack Obama that helped wake up Congress.  Or, perhaps the banks are short of lobby cash to pay off the reps and senators.  Or, perhaps change is really happening.
Whatever is going on, the House of Representatives slapped the banks and bankers today when they voted on some [...]

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AIG Gets More Money!

March 1, 2009

Still too big to fail, AIG is expected to report a $60,000,000,000.00 loss tomorrow morning. So, of course we know that Uncle Sam is on the white horse riding to rescue the Damn-Fools in distress.  We stand beside the notion that if it is too big to fail, it is too big. 
Giving more money to [...]

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Citigroup Surviving on Mental Masturbation and Tax Dollars

February 22, 2009

Fighting the idea of nationalization on all fronts, just the mention of the concept scares investors off and makes the granite halls of the Wall Street banks shake as if an earthquake is about to hit.  The present administration… President Obama… says that it (he) prefers private investment and so on.
However, according to the Wall [...]

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UBS Declines Senate Hearings on March 4th

February 22, 2009

UBS and the Swiss government have stated that they will avoid sending representatives to testify before a Senate committee hearing scheduled for March 4th. 
The Swiss government said Sunday it will not attend a U.S. Senate hearing on tax havens — an apparent protest against a U.S. lawsuit aimed at forcing banking giant UBS AG to hand [...]

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The Great Divide in American Justice Feeds Lack of Confidence

February 19, 2009

Apparently, late this afternoon Sir Allen Stanford was served with a civil complaint in or near Fredericksberg, Virginia.  Stanford is the latest member in the ever growing billionaires club for bad boys.  The dominoes began to fall with Bernard Madoff’s confession of running an out of gas Ponzi scheme.  Since December when Madoff confessed his [...]

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Dick Cheney: Clueless

January 8, 2009

If one needs more proof that the Bush administration and the Decider-in-Chief are clueless, according to Dick:
Cheney defended the administration’s performance on an economy that is growing weaker daily and that recently collapsed in spectacular fashion. Cheney said that “nobody anywhere was smart enough to figure it out.”
He said Bush doesn’t need to apologize because [...]

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Global Economic Crisis Hits Toyota

January 6, 2009

Toyota sales dip 37% in December forcing 11-day closure of plants in Japan.

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TVA Makes Effort to Help in Economic Crisis

November 14, 2008

TVA today announced a decrease in its fuel cost adjustment effective Jan.1, 2009.
Because the fuel cost adjustment is a per kilowatt-hour charge, amounts that consumers will save depends on the amount of energy they use. While savings will vary across the Tennessee Valley, residential consumers can expect a decrease ranging from about $4 to $8 [...]

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