The Washington Post takes a dig at for-profit loan modification firms, intimating fraud without evidence of fraud. To bolster the case, columnist Renae Merle relies on disparaging quotes from people well paid with profits of armed robbery.
More Bankruptcies: Corporate-turnaround experts and bankruptcy lawyers are predicting a wave of retailer bankruptcies early next year, after being contacted by big and small retailers either preparing to file for Chapter 11 bankruptcy protection or s
A parable for our time: Once upon a time a man appeared in a village and announced to the villagers that he would buy monkeys for $10 each.
Over the years, and with the growth of government, Congress has delegated more and more of its powers to the executive branch, in some cases to the agency of the bureaucracies, in others to the person of the president.
[Anyone who doesn't think we past this amount years ago?] President Bush's war on terror will soon have cost the U.S. taxpayer $1 trillion — and counting — is unlikely to spread much Christmas cheer in these tough economic times.
The S&P is down more than 40 per cent so far this year, its worst fall since the Great Depression. Most analysts expect that the more than year-long recession will get worse before it gets better and investors are bracing themselves for more pain in
Wal-Mart will start selling Apple's popular iPhone on Sunday, the chain said, confirming earlier reports by employees.
Consumers spent at least 20 percent less on women’s clothing, electronics and jewelry during November and December, resulting in what may be the biggest holiday-shopping sales decline in four decades.
In September, Phoenix officials had pegged the estimated deficit at $250 million, or about 20 percent of Phoenix's $1.2 billion general fund, which pays for police, parks and other basic services.
The bubble pops. Stock markets tumble. Investors flee. It is the narrative of nearly every economic boom and bust, as investors scramble to find other places -- besides underneath mattresses -- to park their money. Investors pulled $10.5 billio
In the United States, credit swap derivatives created national debt totals of over one quadrillion dollars. That is one thousand trillion dollars! The entire GDP of the planet is estimated at $66 trillion dollars.
The Baltic Dry Index (BDI) has dropped 93% as a result of the economic conditions world-wide. Very important information that is not being made public in the United States! (You Should know this stuff)
It is time to move from "many sorrows" to many blessings.
No. The key participants in the Ponzi scheme are continuing to take their gains out, in dividends and bonuses, front running the final collapse and admission that "its all gone, we're bankrupt."
Roughly $10 Trillion in household wealth will be vaporized in little over a year. And looking ahead, there is no reason to believe the stock market, the housing market, or the economy will show signs of recovery anytime soon.
In the week ending Dec. 20, the advance figure for seasonally adjusted initial claims was 586,000, an increase of 30,000 from the previous week's revised figure of 556,000.
Many more zip codes have already breached the 50 percent decline from their peak but on a year over basis, are down 40 percent. You may be thinking that this is only hitting more lower priced areas. That is not the case. This is an equal opportuni
Over a 1,000 banks in the G8 countries are not expected to survive 2009. Many banks don't have enough money to survive in 2009, but mergers will keep their brands alive, said Ralph Silva of TowerGroup.
The last time claims were that high was Nov. 27, 1982. The four-week moving average, which is a less volatile indicator, rose to 558,000 from 544,250, also a 26-year high.
Even a federal bailout could not save three of the last remaining plants in the United States still making sport utility vehicles. Reeling from its financial problems and a collapsing S.U.V. market, General Motors closed its factories in this city
Terry Coxon, Senior Economist with Casey Research: Hyper inflation will soon replace deflation on consumer goods while many asset classes continue down. The Big Hammer of a depression will hit when hyperinflation is in force...
And one more long term graph - this one for New Home Months of Supply."Months of supply" is at 11.5 months. The months of supply for October was revised up to 11.8 months - the ALL TIME RECORD!
Sales of previously owned homes in the U.S. fell more than forecast in November and prices dropped by the most on record, indicating the real estate slump will extend into a fourth year and worsen the recession.
State Controller John Chiang said Monday that his office could be forced to defer billions of dollars in payments or issue IOUs.
A senior federal banking regulator approved a plan by IndyMac Bank to exaggerate its financial health in a May federal filing, allowing the company to avoid regulatory restrictions only 2 months before it collapsed, a federal inquiry has found.
"There's a significant probability things will get worse," Farmer, 53, said during a phone interview Friday. "We're certainly not at the end of the recession and things are getting worse."
US retailer KB Toys said Monday a bankruptcy judge approved a liquidation of the company that will lead to the closing of all of its 461 stores.
"One very troubling point is that, whether measured using 30-day of 60-day delinquencies, re-default rates increased each month and showed no signs of leveling off after six months or even eight months," John Dugan, head of the Office of th
President Bush has grudgingly allowed General Motors and Chrysler to drive away with the last few billion bucks in Treasury's TARP till, which boasted $350 billion a mere 77 days ago. How did it all slip away so fast?
When the Federal Reserve cut its benchmark rate to virtually zero earlier this week, what was a historic move in Washington seemed old hat here in Tokyo. Economists and bankers hope Japan’s lessons are not lost on Washington.