China has resorted to stealth intervention in the currency markets to amass US dollars, using indirect means to hold down the yuan and ease the pain for its struggling exporters as the global slowdown engulfs the economy.
Collections companies are re-animating debt from the grave to chase you down and eat your brain!
The plot is already familiar: the Friday night, FDIC prepack, in this case, with Birmingham, Alabama-based Regions bank assuming all $974 million of deposits and $34 million of assets. The bank focused on real estate lending and had a "faith bas
The Federal Deposit Insurance Corporation. Better understood as the Federal Deception Illusion Corporation. Its goal is to create public deception regarding the looming insolvency of individual banks. In the name of protecting depositors, it protects
The entire enterprise of Government, in the bloated and intrusive form we know it as, is destined to fail. The failure of any and every coercive monopoly Government is assured by its own dynamics.
(Q: "When will we know we are in a depression?" A: "When it is admitted that we are in a 'Recession'.")
The New York attorney general's office is probing the relationship between Fidelity Investments and Goldman Sachs Group in connection with the sale of auction-rate securities, the Wall Street Journal said, citing a person familiar with the invest
The FDIC, which had shrunk to 4,600 employees from 23,000 at the height of the savings and loan meltdown, has been gearing up for another wave of bank failures. It’s hiring 70 new employees and bringing back 70 retirees to beef up its teams that s
American International Group Inc., the largest U.S. insurer, fell to the lowest in New York trading since 1995 after Credit Suisse Group said mortgage writedowns may cause a $2.41 billion third-quarter loss. [maybe taxpayers could help]
Long before the mortgage crisis began rocking Main Street and Wall Street, a top FBI official made a chilling, if little-noticed, prediction: The booming mortgage business was starting to attract shady operators and billions in losses were possible.
US stocks fell sharply on Monday as credit concerns hounded financial stocks while global growth worries hurt big technology and industrial companies. The 3 major indexes fell about 2% each, wiping out gains booked on Friday, though traders said thin
The weakened US dollar has fallen out of favor with organized crime groups to pay for drug shipments or to settle scores, a Canadian government report said.
The Columbian Bank and Trust Company, Topeka, Kansas, was closed today by the Kansas Bank Commissioner, and the Federal Deposit Insurance Corporation and entered into a purchase agreement with Citizens Bank and Trust, Chillicothe, Missouri, to assume
"The game is over" as independent companies said Buffett. "They were able to borrow without any of the normal restraints. They had a blank check from the federal government.”
Wegner said 30 to 40 percent of all home sales have used down payment assistance, and the end of the program will delay recovery of the housing market...
WASHINGTON -- Automakers plan to urge Congress to support funding up to $50 billion in low-interest loans over three years to help them modernize their assembly plants and develop next-generation fuel-efficient vehicles.
U.S. consumers should brace for the biggest increase in food prices in nearly 20 years in 2008 and even more pain next year due to surging meat and produce prices, the Agriculture Department said.
The U.S. Mint said it will resume limited distribution of its 1-ounce American Eagle Gold coins a week after suspending sales because investors and collectors depleted the supply.
[My wallet ... taxpayers ... my wallet ... taxpayers ... my wallet ... taxpayers ... taxpayers it is.] Treasury Secretary Henry Paulson's response to the sinking fortunes of Fannie Mae and Freddie Mac might boil down to picking which investors ge
Federal Reserve Chairman Ben Bernanke said today that the financial crisis that has pounded the country -- coupled with higher inflation -- is taking a toll on the economy and poses a major challenge to Fed policymakers as they try to restore stabili
The book offered several options for dealing with the debt; the movie had only one: more government. The post-movie 'town hall' was silly and took only a few minutes before new taxes were proposed under the guise of "forced savings.
Publicly they denied the bubble's toxicity, dismissing it as "regional froth." Privately, they conspired to create a massive new bubble driving America deep into debt.
South Korea's President Lee Myung-bak has told officials to give up golf for the moment because it sends the wrong signal just as the economy has hit the rough.
The discovery revealed how an individual financial player had gained enormous sway over the oil market without the knowledge of regulators. Other CFTC data showed that a significant amount of trading activity was concentrated in the hands of just a f
The premiere of I.O.U.S.A. is today and the excitement continues to build. Movie theaters are already selling out for this one-night event followed by a LIVE Panel Discussion...with Warren Buffett, Pete Peterson and David Walker.
Shares of Fannie Mae and Freddie Mac dove to their lowest levels in more than 18 years on mounting fears of a government bailout that would wipe out shareholders of the two U.S. housing finance giants.
(Publisher's note: I remember a story we posted back in June of 2007 about large gold 'options' actually taking possession. I'll be doing some more research for us all, buuuut I am bias towards the idea that what is being sold (option
Goldman won’t say it, but we will. AIG is going the way of the monolines… but on a much larger scale.
Kenneth Rogoff, former chief economist for the IMF currently of Harvard and Carmen Reinhart of the U. of Maryland have done an extensive study of financial crises, going back 900 years, and more intensive work on post 1800 and post World War II episo