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Bank of America to Cut 35,000 Jobs by 2011
NEW YORK - Bank of America said yesterday taht it will eliminate 3,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co. An announcement... Financial Innovation = Creative Counterfeiting Schemes by Wall Street
The new Sanity Check blog by Bob O'Brien is out. He gives us his take on the subprime meltdown. For those who get befuddled by the convolutions used to explain how they first naked short the stock and then naked short the bonds, using cdos, tranches etc, he included a picture... 319 views | 0 recommendations | 0 comments
1987 Stock Market Crash Shows How Short Selling In 2008 Is Crushing America
"The stock market crash of 1987 seemingly taught America how to protect its markets. We have forgotten. Laws were enacted to protect America from a recurrence of such an event, but the laws that protect us the... Citi (TaxPayers) Field Name Safe, According to Mets
Baseball is America's favorite past time, so it sounds like a great idea for American Taxpayers to foot the Bill for the 400 million dollar name rights to the new Mets Stadium. Citigroup still intends... 408 views | 37 recommendations | 5 comments
This Is Not A Normal Recession: Moving on to Plan B
""The Winter of 2008-2009 will prove to be the winter of global economic discontent that marks the rejection of the flawed ideology that unregulated global financial markets promote financial innovation, market efficiency, unhampered growth and endless prosperity while...The Dirty Secret of the Financial Crisis: Our Banking System's Broken
"Henry Paulson's $700 billion plan to save the world is dead or dying, but the bailout was not killed by his arrogance or his grossly misleading claims about what the public's money would buy. The plan collapsed because it didn't work. The Treasury secretary has launched a PR...
created by MortgageAuditor | 4 years ago | updated 4 years ago
218 views | 0 recommendations | 0 comments
218 views | 0 recommendations | 0 comments
Citi Rescue Talks Underway
"The market shrugged off the prospect of a Citigroup meltdown and focused instead on the leak that Timothy Geithner was Obama's pick for Treasury Secretary. Citi fell another 20%, its shares dropping below $4. Have banking catastrophes become so routine that it is now...
created by MortgageAuditor | 4 years ago | updated 4 years ago
133 views | 0 recommendations | 0 comments
133 views | 0 recommendations | 0 comments
Panicked investors force Kuwaiti Stock market to close-Sellers-No buyers
"Trading on Kuwait’s stock exchange was halted yesterday by court order in a measure meant to stop a months-long slide while authorities try to find ways to reinvigorate the market. The halt to trading is the first to be announced in the Gulf even though stock markets... Brazil's Stocks and Currency Dive as the US Shifts Its Bailout Plan
Stocks in emerging countries such as Brazil are currently a roller coaster ride for the strong hearted. If you believe the Dow, Nasdaq, and TSX are currently a roller coaster ride, take a look at stock markets in emerging countries and you'll see several very hardcore and... No oxygen in the IMF ventilator
"By Mosharraf ZaidiThe News InternationalBeing of Pakistani origin qualifies an IMF employee to be as much of a Pakistani economy expert, as being of Pakistani origin qualifies a child that eats a lot of Krispy Kreme doughnuts to be an expert in Pakistani child nutrition....Everybody's Underwater In Silicon Valley
"As of October 24, more than 80% of Silicon Valley's 150 largest publicly traded companies have employees holding underwater options, according to executive compensation research firm Equilar. CEOs at 90% of those...IMF playing negative role in global economic crisis
"The International Monetary Fund (IMF) is playing a ‘negative role’ in the current global economic crisis, former prime minister Shaukat Aziz said on Friday. Aziz also stressed the need for a strategy to deal with future challenges. In an interview with ARY OneWorld,... Obama and the Revenge of Democracy
"by Mosharraf Zaidi Perception is reality. So while there is an almighty chorus of those that are warning the people of the world to be cautious and not invest so emphatically in the hope that the US election result has inspired, it is important to listen not only to our... Oil follows stock markets, falls below $65 in Asia
"SINGAPORE (AP) -- Oil prices fell below $65 a barrel Thursday in Asia as renewed concerns about the severity of a global economic slowdown triggered an exodus from stocks and commodities. Light, sweet crude for December delivery was down 83 cents to $64.47 a barrel in...Nortel could cut up to 5,000 jobs next week: analysts
"Nortel could cut up to 5,000 jobs next week: analysts Last Updated: Wednesday, November 5, 2008 | 8:48 AM ET Comments55Recommend32 Reuters, special to CBC News Nortel Networks Corp could shed between 3,000 and 5,000 jobs when it details its...
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