Claire McCaskill has come up with a novel idea – cap the bonuses companies that are receiving federal aide can pay out: Under the bill by McCaskill, an early endorser of Obama’s presidential candidacy, employees would not be able to make more money than the U.S. president — $400,000 a year — until their companies […]
Citigoup’s stock closed at $4.71 today, down 26.39%. That pushes them below the $5 threshold, which is generally a big trigger for massive selling: Most institutional investors and pension funds are barred from owning stocks below $5. So if Citigroup’s stock remains below that level, it could trigger a wave of selling that would send […]
What a nice piece in the Wall Street Journal. Here is Home Depot cofounder and former CEO, Bernice Marcus has to say: But in the class war, as in the real deal, there are always ways of motivating the yellow. “If a retailer has not gotten involved with this, if he has not spent money […]
Deuteronomy 5:8, which some people that call themselves Christian might want to refer to: Did you know that some Christian dingbat has dubbed today the “Day of Prayer for the World’s Economies?” Well here they are, at the Wall Street bull statue thing, praying to Jesus for money. The dingbat has explained, “We are going […]
Wow – that’s the biggest job loss in five years, and a report sure to send turmoil through Wall Street today.
The Republicans have been planning all along to use this bailout as an issue against Democrats, despite the fact that it is a bill by a Republican administration. They were so intent on using it that the RNC already had made attack ads and sent them to key states: The Republican National Committee’s new advertisement […]
The feds went in and seized WaMu tonight. Another financial giant enters socialism. UPDATE: From the WSJ: In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and struck a deal to sell the bulk of its operations to J.P. Morgan Chase & Co. The closing represents […]
I missed this article by Thomas Frank yesterday in the Wall Street Journal: Last week, Republican presidential candidate John McCain called for a commission to “find out what went wrong” on Wall Street. It was an excellent suggestion: Public inquiries into Wall Street practices served the country well in the 1930s. And Mr. McCain has […]
The Answer – committees that John McCain does not sit on. Chris Dodd, who chairs one of those committees, told Rachael Maddow tonight that Obama has been in constant with him to check on the progress and offer ideas. McCain has not been in touch at all. Just yesterday McCain told reporters he hadn’t looked […]