Group Think, Duct Tape and Slam Dunks
BLOOMBERG Feb. 1 (Bloomberg) — Nobel laureate Joseph Stiglitz said any decision by President Barack Obama to establish a so-called bad bank to rid financial companies of toxic assets risks swelling the national debt. Obama’s administration is moving closer to buying the illiquid assets currently clogging bank’s balance sheets and preventing them from boosting lending, […]
MoreT H I N K P R O G R E S S Just weeks ago, the federal government extended $20 billion to Bank of America to keep it afloat, bringing its total in federal bailout dollars received to $45 billion. ABC News reports, however, that the bank managed to scrounge up millions of dollars […]
MoreSenator: The SEC “Letting Down the American People” ABC NEWS By BRIAN ROSS and RICHARD ESPOSITO Dec. 15, 2008— As the list of victims continues to grow and investigators examine how Bernard Madoff allegedly ran his massive scam, some are questioning how Madoff avoided detection for so long. As a registered investment advisor since 2006, […]
MoreAnxious New Yorkers popping more pills CRAINS NEW YORK BUSINESS By Daniel Massey Published: December 12, 2008 Prescriptions filled for anti-anxiety drugs, anti-depressants and sleep aids have surged in the city as New Yorkers struggle to cope with uncertainties brought on by the financial crisis. The spike was particularly evident in September, when an economic […]
MoreYou know you can whine all day about the idea that no matter what President Obama does in the next couple of years- we’re all in for some rough times- and you’d be right. But there’s just no accounting for the feeling an American citizen gets after a day like today- miserable, pissed off and […]
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