A new article in Bloomberg talks about the biggest banks getting $1.2 trillion in help: Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits. […]
Very interesting article by the Politico: Republicans and Democrats slammed Rep. Alan Grayson (D-Fla.) for calling Linda Robertson, an adviser to Fed Chairman Ben Bernanke, a “K Street whore” in a month-old radio interview that circulated on Capitol Hill Monday night. “There’s no call for that language. No call for it. That’s absurd. If he […]
And to think that everyone was bitching about the $700 billion bailout: The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September […]
With all the talk of Mukasey, Pakistan and O.J., it seems like there is a much larger story missing from the MSM. Here is a chart of our stock market this week: Our economy is looking at some serious trouble. Lots of news has fueled this, like retailers reporting very sluggish sales in October, forcing […]