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Economy

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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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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Consumer Prices Fall… But, Where?

November 19, 2008

According to Bloomberg consumer prices fell 1% last month bringing on worries of deflation.
The cost of living in the U.S. fell by the most on record and construction began on the fewest homes ever last month, evidence the economy is in the worst recession in at least a quarter century.
The consumer price index plunged [...]

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Hank Paulson is the New “Good Job, Brownie”

November 12, 2008

It seems that consumer credit card debt is the latest market to be sucked into the financial black hole. Oh, please. I dare anyone in the world to say, “I didn’t see this coming.” It would take the village idiot to have missed this one… ah… but, apparently he did. For [...]

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The WMD Found on Wall Street

September 20, 2008

Let’s just cut through the chase. Ben Bernanke, Henry Paulson, George Bush and Congress have thrown the American citizens into slavery.
First Congress approved the new bankruptcy laws of 2005 that pretty much make it impossible for a consumer to file bankruptcy and keep his home. This law came at the behest [...]

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Lehman Brothers On the Street, AIG in the Bed

September 17, 2008

It’s been a rough week and it isn’t even over. So, the question remains what is going on in the financial world?
All weekend it was reported that the Fed and Treasury leaders were meeting with or on the phone with Lehman Brothers and possible buyers. Apparently, it was a case of mental masturbation [...]

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