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Economy - Economics USA

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arclein

I have previously pointed out that we can (and should) break up the giant, insolvent banks under a number of different laws. Indeed, the government could break up the “systemically dangerous institutions” under 100-year old antitrust laws.

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The Business Insider

This is what an economic strategy of pulling it forward looks like. In August, car buyers were going nuts with a $4,500 incentive to trade clunkers in for brand new cars. Many warned, of course, that these sales would simply end up decreasing future

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Bailout Sleuth

Six more banks have been approved to receive funding under the Troubled Asset Relief Program, according to the Treasury Department's most recent update on bailout activity

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Reuters

Goldman Sachs on Tuesday advised investors to shy away from banks and insurance companies that are heavily focused on commercial real estate, saying that the downturn in commercial real estate was more severe than Goldman had expected.

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CNS News

Legislation to triple aid to Pakistan and stem the tide of radicalism and anti-Americanism in that Asian nation cleared Congress on Wednesday and moved to President Barack Obama for his signature.

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CBS

Happy New Year! But leave the hats and horns in the closet. There's nothing to celebrate. Today marks the start of the 2010 federal fiscal year. The only thing good about it is that FY'09 is finally over. Net interest paid on the Debt will amount thi

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Drudge/cnbc

Stocks tumbled Thursday after a disappointing ISM report on manufacturing piled on to worries about the economic recovery.

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American Banking News

First we have to understand that the banking system, the FDIC and the Treasury Department are essentially insolvent. If Japan and China decide to stop buying Treasury Bonds, the U.S. economy would immediately collapse. Japan is already moving in that

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Washington Post

The Treasury Department's long-delayed initiative to purchase toxic assets from financial firms launched Wednesday, nearly a year after Congress authorized the government to tackle what once was billed as the most critical problem facing the banking

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Seeking Alpha

An intriguing news item this week was the announcement that Citigroup is suing Morgan Stanley for $245 million, alleging non-payment from Morgan Stanley regarding a “credit default swap” (i.e. default insurance) which Citigroup purchased from Morgan

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AP

Penske said it negotiated with another manufacturer to make Saturn cars, but that company's board of directors rejected the agreement. Penske spokesman Anthony Pordon would not identify the other manufacturer. GM had agreed to keep building the

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MarketOracle

It would be a miracle if trillions of dollars of debt could be wiped out with one stock market crash and be succeeded by a new bull market driven by another large offering of credit by the Fed. But such a central bank-engineered miracle today is i

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Zero Hedge

Let's pray there is no run on the bank soon.In an unprecedented disclosure, the FDIC has highlighted that it expects the DIF reserve ratio to be negative as of September 30. As there are a whopping 48 hours before that deadline, one can safely assume

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BBC

US consumer confidence fell unexpectedly in September, suggesting Americans are not as convinced as US policymakers of an economic recovery.

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What is it that actually causes a depression? A stock market collapse? Or too much debt? How come government can appear to cure the problem sometimes – 2001-2007 – but not other times?

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National Legal & Policy Center

Now that taxpayers are Citigroup’s biggest shareholder, owning 36% of common stock, it is time for the company and its foundation to end its relationship with ACORN and its affiliates

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Telegraph

Spain is sliding into a full-blown economic depression with unemployment approaching levels not seen since the Second Republic of the 1930s and little chance of recovery until well into the next decade, according to a clutch of reports over recent da

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Forbes

While the first $60,000 of her income would be lightly taxed, the next $60,000 would be hit with what is in effect a 79% tax rate. Given a choice between a part-time or easy job paying $60,000 and a demanding, stress-ridden job paying $120,000, Lede

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Lake Powell Chronicle

State treasurer Dean Martin held an informal town hall meeting in Page on Saturday evening, but the news was not very cheerful as he told a small audience at City Hall that the state of Arizona is broke. Actually, it’s more than broke; it’s in debt.

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