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. […]
One thing I have always had against interest groups is their ability to look at a situation as a whole. I am an avid environmentalist, but if there was a scenario in which 1000’s of acres of forest had to be leveled for a group of people to survive then I say go for it. […]
Geez. The U.S. government has agreed to guarantee over $300 billion of Citigroup’s troubled assets — loans and securities backed by residential and commercial real estate and other such assets — with conditions attached. These conditions are being hammered out. In addition, the U.S. Treasury will invest $20 billion in Citigroup from the Troubled Asset […]
Again – April Fool’s: The Iranian general who helped broker an end to nearly a week of fighting between Iraqi government forces and Shiite Muslim militiamen in southern Iraq is an unlikely peacemaker. Brig. Gen. Qassem Suleimani, who helped U.S.-backed Iraqi leaders negotiate a deal with radical Shiite cleric Muqtada al Sadr to stop the […]
This is a really interesting story that is thankfully gaining attention. Halliburton announced this weekend that they will be moving their corporate headquarters from Houston, Texas to Dubai. There are a lot of questions surrounding this move – the biggest on their taxes. Halliburton generates a large portion of their income from U.S. contracts and […]
We raise the national debt. That measure was passed by Congress today and sent to Bush for his signature. The Senate voted Thursday to allow the national debt to swell to nearly $9 trillion, preventing a first-ever default on U.S. Treasury notes. The bill passed by a 52-48 vote. The increase to $9 trillion represents […]