Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. This means that the investment bank's European derivatives exposure is now
Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.
Cold hard cash. It's good everywhere you go, right? You can use it to pay for anything. But that's not the case here in Louisiana now. Those who buy and sell second hand goods cannot use cash to make those transactions,
The growth in student lending may be the next major market bubble to burst, according to a recent report by Moody’s Analytics (PDF).
Attorney General Tom Miller of Iowa, who is leading the whitewash once known as the 50 state attorney mortgage settlement negotiations (7 have defected), reliably, every few weeks, has gotten word to the media that a deal is weeks away.
The world economy may still be in the doldrums, but global wealth continues to grow, hitting an all-time high this year of $231 trillion, according to a new global wealth report from Credit Suisse.
Senate Majority Leader Harry Reid (D-Nev.) on Wednesday indicated Congress needs to worry about government jobs more than private-sector jobs, and that this is why Senate Democrats are pushing a bill aimed at shoring up teachers and first-responders.
… and All the Other Neocon Threats.
The Pennsylvania state Senate on Tuesday voted for a state takeover of the finances of its capital, Harrisburg, setting up a showdown with the city. The plan was already approved by the state's lower house and is expected to be signed into law by Gov
Fascinating to see the shift over the past century: Here is an interesting interactive tool that lets you look at different year ranges based upon societal gains in income, and how they got distributed.
Our respect for individual liberty, free markets, and limited constitutional government produced the strongest, most prosperous country in the world. But, we have drifted far from our founding principles, and America is in crisis. (PDF of Dr. Paul's
Once you understand it - truly understand it - you can never fall victim to a ponzi scheme. Not only that, you will never allow any society you are a member of to fall victim to one either, as you will recognize the inherent danger and demand that..
The governments of the western world have had a lot of fun spending money as if there was no tomorrow, but now tomorrow has arrived and all of that debt is rapidly catching up with us.
(Reuters) - Goldman Sachs Group Inc posted its second quarterly loss as a public company on Tuesday as its investment portfolio lost billions of dollars in value.
Trapped assets that generate no income streams in the present are not capital; the value of such non-productive assets is illusory. Strip away these trapped assets and the reality is revealed: most American households toil to service their debts.
...Our National Debt Went Up 4 Trillion Dollars!"
10/18/2011 7 AM CST Ron Paul goes over his Restoring America spending cut plan on CNBC's Squawk on the Street with Joe Kernan and Andrew Ross Sorkin, which entails cutting $1 trillion in Federal spending within a year's time.
Ron Paul vs. the Religious Right - Occupy DC and the Fed - The Horror Ahead Cops shoot demonstrators. Demonstrators shoot back - Multi-Trillion Dollar Shock and Awe - The Predator Drone Empire - If the Tea Parties Were Any Good
U.S. producer prices rose more than expected in September to record their largest increase in five months as gasoline prices surged, a government report showed on Tuesday.
As you will see below, Herman Cain's 9-9-9 plan will actually raise federal taxes on some middle income Americans to as high as 37 percent. If the other Republican candidates understood this, they would be jumping all over Cain.
For all its criticisms, if there is one thing one can say about Goldman, is that unlike their pathetic TBTF cousins in the US financial industry (JPMorgan, Citi, and shortly Morgan Stanley and Bank of Countrywide Lynch), it can report a loss like a m
(also included is Ron Paul video: Ron Paul's Texas Straight Talk 10/17/2011: Government is NOT a business.)
Economic DevelopmentRead Letter
NEW YORK—U.S. stocks tumbled as fresh worries over the progress of Europe's sovereign-debt negotiations spurred a selloff, largely erasing Friday's gains.
More Adventures in Economics! The sequel to "I'm in Love with Friedrich Hayek!"
Cain vs. Paul.... No Contest
Plan of Action for U.S. - Under the Guise of Recovery - Bust the Government - Blame the Capitalists for the Failure - Junk the Constitution and Declare a Dictatorship.
Las Vegas was started by a gangster and may be killed by the government...or at least government inaction. The negative economic forces that have converged on the desert play land of casinos and sin are like the proverbial perfect storm. Meanwhile, t
A dire warning has been issued by one of the world's top economists. Arthur Laffer, author of several important books on economic theory including his latest, "Return to Prosperity: How America Can Regain Its Economic Superpower Status" was also a
For this young couple, supporting their young daughter in Obama's "Hope and Change" economy has meant "changing" out of clothes for sex while "hoping" that people will pay to watch! The promise made when President Obama took office was that