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U.S. Society Headed for Major Crisis
A five-part report by David DeGraw on the economic meltdown fallout and the factors that contributed to it. Essentially, the people of the U.S. and the world are suffering now and facing worse times due to the... JP Morgan Chase Bank and its CEO : the saving grace?
As the US banks went down amid jeers and hisses, JP Morgan Chase bank remained strong, and its CEO, Jamie Dimon, stepped up to the plate in good form. USA news examines why Dimon is a... "Let Them Have Stained Carpets" - Obama's Marie Antoinette Moment
"the finance industry has effectively captured our government" Max Keiser sums the present situation up, and offers a solution –a suggestion in one example, "RICO" – a group that crashed in 2005, on which Max...
created by Maireid Sullivan | 34 wks ago | updated 34 wks ago
312 views | 29 recommendations | 9 comments
312 views | 29 recommendations | 9 comments
What really has cooked the world economy and layoffs?
Major portion of the world live in poverty. Unequal distribution of economic growth led to limiting purchasing power to limited people in the world. Whereas number of industries grew created heavy competition to attract limited number of customers by... Bailout tab could reach $1.8 trillion US
The true depth of the financial crisis in the United States continues to be revealed as the government attempts to put together an aid package designed to stop the US economy from collapsing. Over the... The U.S. economic crisis, week in review
It has been a turbulent week in U.S. financial markets, the worst since the 1980’s , and the ripple effects continue to be felt in markets around the globe. The Dow Jones Industrial Average has been on a roller coaster all week as a result of bankruptcy announcements by...EI funds won't last through prolonged recession
Canadian actuaries are warning, should the turmoil in the U.S. financial markets throw Canada into a prolonged recession, current EI reserves won't last. Actuaries calculate the cost of assuming risk, they are an essential part of any insurance program, and they also... Putnam closes $12.3 billion money market fund
The carnage continues in the United States financial markets, and there are no signs that relief will come soon. Despite intensive, and unprecedented, government intervention, major players in the financial... Yesterday's news article list on Patrick.net
Fri Aug 8 2008 Accounting Games Mask True Financial Pain (finance.yahoo.com) Housing Bill - Legislating Private Profits (solari.com) Housing crisis: No funny money (seattlepi.nwsource.com) Fannie, Freddie Reality: The Big Bailout Is Coming (Mish) Freddie Mac's Big Loss...Global markets take a tumble
"Markets from New York to Tokyo have recorded heavy losses in reaction to the emergency bailout of US investment bank Bear Stearns over the weekend. In New York the Dow Jones Industrials tumbled in early trading before recovering some ground. London's FTSE 100 index ended...10-15 Million Mortgage Defaults will leading to systematic banking crisis
Earlier today The Financial Times posted a story about the risk of the 'Mother of all Meltdowns'. The story was inspired by the analysis of NYU's Nouriel Roubini. Within 2 hours the story was one of...
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