Tags: Banks + Deficit + Deficit spending + Economy + obama + Taxes
The current economic problem is how to get the economy growing again to produce near full employment. Overcapacity has quelched capital spending while high capital costs for businesses combined with low final demand means there is no incentive to expand. Exacerbating this dilemna is the need for greater government tax revenues to fund deficit spending [...]
May 27, 2009 - Economy, Markets, Politics - 0 Comments
Tags: Bailout + Banks + Bernanke + Economy + Federal Reserve + Geithner + investing + JPM + Treasury
Will it never end–the on-going concessions and handouts to banks? Our Capitalistic system being dumbo-engineered to socialize losses, overlook transgressions of law, and reward failure? What’s next for the people?
May 22, 2009 - Economy, Politics - 0 Comments
Tags: Banks + Barney Frank + Charles Rangel + Congress + Economy + Federal Reserve + Interest Rates + Senator Dodd
Today the US Senate passed a bill to reign-in some, but not all, of the egregious credit card lending practices. If the bill becomes law as is expected, banks will no longer be able to short-cycle billing statements to increase the chance of late fees (they can still send unmarked letters as long as the [...]
May 19, 2009 - Economy, Politics - 0 Comments
Tags: Bailout + Deficit + Economy + Fannie Mae + Federal Reserve + Geithner + Ginnie Mae + GNMA + Stress test + Taxes + Treasury
The Board of Governors of the Federal Reserve finally made the results of its much anticipated ‘too big to fail’ “stress test” public today (May 7, 2009) and 10 of the 19 banks require more billions–about $75 billion. Bank of America headed the list needing $33.9 billion; Wells Fargo was next requiring $13.7 billion; GMAC [...]
May 8, 2009 - Economy, Markets - 0 Comments
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