Economy

March 24th, 2010

(WSJ) – U.S. Is Riskier Than Euro Zone; So Says CDS Market

Something troubling has occurred in the market for default protection on the debt of the world’s biggest borrower. Read More Here

(WSJ) – Treasurys Sink After Poor Sale

Treasury prices fell hard after a poor five-year auction that escalated concerns about the government’s ability to sell its massive amounts of debt. Read More Here

(KCTV5) – Folger’s To Close KC Coffee Plant

The J.M. Smucker Company announced Wednesday it will close its Kansas City Folger’s Coffee plant in the summer of 2012. Read More Here

(RussiaToday) – Video: Lehman Brothers: Warehouse for junk loans – View Video Here

(TheSun) – CHANCELLOR Alistair Darling has delivered his last crucial budget — and plunged the country further into debt. – Read More Here

(BusinessInsider) – JP Morgan Paid $1.9 Billion For Washington Mutual And Now It Wants A $1.4 Billion Tax Refund

JPMorgan Chase is negotiating with the FDIC for a tax refund related to its acquisition of Washington Mutual that could amount to $1.4 billion, The Wall Street Journal is reporting this morning Read More Here

(DailyTelegraph) – Gordon Brown told to explain why he sold Britain’s gold reserves

Gordon Brown has been ordered to release information before the general election about his controversial decision to sell Britain’s gold reserves. Read More Here

(Bloomberg) – Poll Reveals Americans Hate Wall Street

Americans are leery about creating a new federal agency to make consumer-protection rules for mortgages and credit cards and would prefer to enhance the existing powers of banking regulators. Read More Here

(Bloomberg) – States Sue Over Overhaul That Will Bust State Budgets

President Barack Obama faces a fight over the health-care overhaul from states that sued today because the legislation’s expansion of Medicaid imposes a fiscal strain on their cash-strapped budgets. Read More Here

(WallStreetJournal) – Economic Stimulus Bill May Give J.P. Morgan a Tax Refund of $1.4 Billion

J.P. Morgan Chase & Co. is nearing a deal that would allow it to benefit from a tax refund of as much as $1.4 billion, becoming the latest company to tap a little-noticed plank in an economic stimulus bill. Read More Here

(GlobalResearch) – Social Inequality in America: Widening Income Disparities

The “aristocracy of our moneyed incorporations” has never conceded a thing, not even to suppress a revolt. This “opulent minority” does not “give” what it does not intend to begin to claw back with its cold, non-living corporate “hand” before the ink is dry on the signatures on treaties, the Fourteenth Amendment, even the New Deal, perhaps the greatest bowl of gruel ever cooked up by an oligarchy. Read More Here

(EpochTimes) – Most Japanese Airports in Debt, Face Closure

The majority of Japanese airports are facing serious financial problems and may be forced to close unless they attract more passengers, according to a Japanese Ministry of Transport survey, reports the Japan Times. Read More Here

(FinancialArmageddon) – Is the stock market being manipulated?

Larry Doyle, a long-time Wall Street veteran and publisher of the Sense on Cents blog, hosts a Sunday night show, “No Quarter Radio’s Sense on Cents with Larry Doyle,” on Blog Talk Radio. In this week’s edition, which features an interview with Phil Davis of Phil’s Stock World, Larry raises a question that a few of us, who are amazed at and unsettled by the willingness of investors to throw caution to the wind and repeat the mistakes of the past (see “Back Buying the Same Kind of Crap” for one example), have occasionally wondered about ourselves: Read More Here

(MyBudget360) – How the Middle Class Slowly Evaporated in the Last 40 Years

Loss of Manufacturing, Bank Deregulation, Hyper Consumption, and Short-term Profit Seeking from Wall Street Read More Here

(DailyBell) – Global Economy Spins Out of Control? – Read More Here

(Spiegel) – German Shipping Faces Wave of Financing Problems

As recently as 2008, container ships were transporting record amounts of products across the world’s oceans. Now, many German shipping companies are struggling to pay for the vessels they ordered during the boom. Their banks could be in trouble, too. Read More Here

(CSPAN) – Video: Ron Paul Vs Tiny Tim Geithner-You Got Us In A Bigger Mess – View Video Here

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