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GM says it will pay part of the warranty guarantee costs and will borrow the rest from the U.S. government. The guarantees cover GM vehicles sold in the U.S. and Mexico during the company's restructuring period.
Can't get an accounting job? Lost that lucrative law position? How fast can you run a mile and a half, and how tight are those abs?
And in case you missed it, the phrase in the FT, "increase the incentive for banks to book profits in the next two quarters" is code for "fabricate earnings". The powers that be are inviting more of the same. And this is all in th
The PPIP is the "greatest boondoggle in the history of the world," says Black, a former bank regulator who was counsel to the Federal Home Loan Bank Board during the S&L crisis. Black says the PPIP will allow banks to exchange "trash f
If you are buying into this rally and the recovery of the banks based on the so-called "Stress Tests", you have been lied to and must consider the "severe" stress scenario as the "baseline", which implies that should the
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Congress has been a joke for years. Now the White House is becoming a laughing stock. It is, I’m afraid, all starting to look like one big joke, and it’s on us.
Consider this simple fact: Treasury and the Fed want these banks to have Tier 1 common stock equal to 4% of risk-weighted assets. In other words, 25-to-1 leverage as safe for the future.
The banks were insolvent and many still are. The Fed has thrown $trillions at this mess and the banks remain short of capital.
Under fire from Republicans, Attorney General Eric Holder revealed that he had approved of rendition — essentially, legalized kidnapping — apparently more than once during his tenure as President Bill Clinton’s deputy attorney general
The National Research Council is pushing for the offensive use of “cyberattack” against enemies foreign and domestic. “The current policy and legal framework regulating use of cyberattack by the United States
I am looking for Clean Cut Presentable people to work an event next wedensday (May 13th) at ASU! You will be required to wear light colored nice khaki pants, dark belt and we will provide a shirt. :)
Something as dramatic as citizens themselves deciding to take action by forming Grand Juries to indict a President is certain to stir up emotions on both sides of the issue.
No US bank being screened by regulators is at risk of insolvency, US Treasury Secretary Timothy Geithner has said.
Am I the only one who sees the blatant manipulation? How can this be good for existing stockholders? So why are financials rallying? The regulator has become a stockholder.
It has been more than 100 days of Barack Obama in office. Reviewing his policy, the election honeymoon was not that sweet to begin with and many in the US seem disappointed. Prominent economist Paul Craig Roberts is among those.
The Obama administration is considering an unprecedented fall vaccination campaign that could entail giving Americans three flu shots — one to combat annual seasonal influenza and two targeted at the new swine flu virus
The usurper has a surprise waiting for him at Arizona State University in Tempe, Arizona.
That is nearly four times more than the company revealed in late March when asked by POLITICO to detail its total bonus payments. At that time, AIG spokesman Nick Ashooh said the firm paid about $120 million...
The junk politics practiced by Obama is a consumer fraud. It is about performance. It is about lies. It is about keeping us in a perpetual state of childishness. But the longer we live in illusion, the worse reality will be when it finally shatters o
The administration of US President Barack Obama is moving toward reviving the military commission system for prosecuting terrorism suspect held at a detention center in Guantanamo Bay, Cuba, The New York Times reported.
“I love everything he’s done and everything he’s doing,” Bennett said of Obama. “I think we should give him all-out support for anything he wants to do. We should all help..."
Obama’s Census Bureau has hired 1000s of new temporary employees, equipped each with a handheld GPS computer, and given them 90 days to mark GPS coordinates “within 40 ft of every front door” in America.
The government would provide up to $8 billion more to carry the company through bankruptcy, said senior administration officials speaking on condition of anonymity. The government will also help appoint a new board of directors.
The Case for an "L" Shaped Recession (or series of recessions) is still very much alive.
Oh that's nice. So now we're going to offer 6:1 (or more) leverage to these hedge funds with non-recourse financing provided by the FDIC, and if something goes wrong the taxpayer will eat the balance.
As different as night is from day.
Video report
"...we will continue to increase the amount of the reward until it is so huge that the American people will begin to question why he has sealed all his background info to hide something..."
Timothy F. Geithner, who as president of the NY Federal Reserve oversaw many of the nation’s most powerful financial institutions, stunned the group with the audacity of his answer. He proposed asking Congress to give the president broad power to gua
