The analyst thinks that 35% or more of Bank of America's loans might end up going into default, versus the 5% the bank says are in default today.
Go ahead politicians, tell us how important "Wall Street" is to the economy and to you. Let the thieves and liars continue to pollute the markets and screw everyone. Volatility is as high as it is precisely because people are tired of getting buttr
Stephen Lendman - NATO - Libya - War / Ed Foster, Mayor of Quartzsite - Quartzsite Elections / Marc J. Victor - County Attorney Does Not Want (Drug War) Debate Recorded!
August consumer confidence plummets from 59.2 to 44.2, far below consensus of 52, dropping to its lowest level since April 2009.
In this edition of On the Edge, Max Keiser interviews Alex Jones from infowars.com. He talks about Ron Paul's bid for 2012 presidential elections.
When a mortgage loan is packaged into one of these "securities" and then all sorts of protection and credit enhancement are taken against it, it is no longer a simple matter of saying that because you didn't pay, there are economic damages...
He simply hit every pitch out of the park he was thrown. He crystallized his message and hit moonshots. This interview is going to be a land mark in his campaign.
It’s not really the end of the world, but to read some of the analysis and data over the past week, it’s hard not to wonder if it’s not the beginning of the Endgame at the very least.
This is an interview you won't find on American TV.
Ron Paul discusses jobs and foreign policy with Stuart Varney.
Ron Paul told Lou Dobbs yesterday that the inflation tax – printing more money and expanding the monetary base – will result in people going in the street.
Bernanke, at an annual economic conference in Jackson Hole, left open the possibility that the Fed will take further steps to strengthen the economy. He said its September policy meeting will be held over two days, instead of just one, to allow for a
There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million people to the population since then.
Without taking some solid, clearly-defined steps, the middle class will undoubtedly move from an endangered species to extinction. The tipping point may already have been passed and, even if it hasn’t, I’m still not optimistic there’s any...
Now, let's get this straight. Is banning short selling equivalent to telling outright lies? No it's not. But it IS equivalent to not telling the truth. And that is, whatever you may think about this, a strange thing to be confirmed in official policy
This time, there will be no bailouts because there can't be. There's no money. Good luck with your belief in the candy-crapping Unicorn America. He's not going to appear.
Let the thieves and liars continue to pollute the markets and screw everyone. Volatility is as high as it is precisely because people are tired of getting buttraped and after a few instances of it they simply say "screw this", take their money...
Aug. 26 - Caution prevails ahead of the closely watched speech by Federal Reserve chairman Ben Bernanke on Friday, while European sentiment is sapped by a mounting confusion over Greece's bailout.
Federal Reserve Chairman Ben Bernanke on Friday announced that the Fed wouldn’t take any steps at this time to provide a boost but indicated they may be considered next month.
This is an admission of weakness, not strength. Bank of America had maintained it didn’t need equity as recently as yesterday and of course before that too, then does a sweetheart deal to build confidence...
Warren Buffett's Berkshire Hathaway will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis.
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value." – Alan Greenspan (before he converted to the "other side")
Buffett's Berkshire has agreed to buy 50,000 preferred shares of Bank of America for $5 billion. That means he's paying $100,000 per share.
After taking a quick detour into pseudo-positive economic data, the BLS sends us right back into the depression, with an initial jobless claims number of 417, far higher than consensus of 405K...
The massive injection of liquidity temporarily salved the day-to-day operations of banks, but they did not repair what ailed our financial institutions.
Do you have friends, neighbors and relatives that can’t find work? Well, unfortunately the current U.S. jobs famine is about to get a whole lot worse.
Amusingly, BofA took issue with my post yesterday, but they didn’t contact me. Instead, they hectored Henry Blodget. Rather weird and frankly a bit cowardly...
There is a rumor circulated on Wall St. that JP Morgan (NYSE: JPM) will take over Bank of America (NYSE: BAC) within the week.
And so the double dip confirmation resumes, with the Richmond Fed printing at -10, the lowest since June 2009, well below consensus of -5, a collapse from June's -1, and the lowest since June 2009.