Europe Overnight -- Greece ♦♦ By: Tim Duy ♦♦ Fed Watch05/17/2012Will TPTB extend and pretend some more ... or are we actually going to have some mark to market in real time?
What the Loebs can learn from the Pulitzers ♦♦ By: Felix Salmon ♦♦ Naked Capitalism04/18/2012I’m not a huge fan of journalism awards. The Pulitzers, in particular, are a peculiar fish: they tend to award long and worthy work which almost nobody had the time to wade through when it first came out. That’s a type of journalism, to be sure — but is it the very best journalism that the profession produces? And while this year’s journalism winners were very good, the editorial cartoons which got Politico its first Pulitzer were so bad as to make one wonder whether the quality of the jury’s a
Attacks on RT and Assange reveal much about the critics ♦♦ By: Glenn Greenwald ♦♦ Naked Capitalism04/18/2012A new news show hosted by Julian Assange debuted yesterday on RT, the global media outlet funded by the Russian government and carried by several of America’s largest cable providers. His first show was devoted to an interview with Hezbollah leader Hassan Nasrallah (video below), who has not given a television interview since 2006. The combination of Assange and a Russian-owned TV network has triggered a predictable wave of snide, smug attacks from American media figures, attacks that found the
From Financial Crisis to Stagnation ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/18/2012Thomas Palley is has served as the chief economist for the US – China Economic and Security Review Commission. He is currently Schwartz Economic Growth Fellow at the New America Foundation. His latest book From Financial Crisis to Stagnation is available at a 20% discount here [Select country location (top right hand corner) & enter code "palley2012" at checkout]
Interview conducted by Philip Pilkington
Philip Pilkington: At the beginning of your book From Financial Crisis to Stagnation
Yet Another Obama Big Lie ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/18/2012The Administration has managed the impressive task of operating in a more cynical fashion than even its worst critics predicted
Does the 2012 Presidential Election Matter? ♦♦ By: Matt Stoller ♦♦ Naked Capitalism04/13/2012If you picked up a newspaper in DC this week, it would have been hard to avoid noticing that a bizarre and irrelevant spat is consuming much of the insider political media and top political officials. Earlier this week, a corporate lobbyist named Hilary Rosen tweeted a vague insult at GOP Presidential nominee wife Ann Romney. Rosen said that Romney had never worked a day in her life, and so could not credibly speak to the economic concerns of women. The Republicans demanded an apology. Rose
Spainaly Under Pressure ♦♦ By: Matt Apuzzo ♦♦ Naked Capitalism04/13/2012Sorry for the lateness of this post, one of those days I’m afraid.
Italian borrowing costs were seen rising overnight as the country moved into a second day of auctions of bonds and bills.
Of note €2.884 billion in three-year debt at a yield of 3.89% were sold. The last auction of few weeks ago came in at 2.76% so there has been a 1.1% jump in under a month. The bid to cover was also down to 1.44 from 1.56. On Wednesday Italy’s one-year borrowing costs doubled. Treasury raised €4.88 b
Mortgage Related Observations ♦♦ By: AAA Staff ♦♦ Naked Capitalism04/13/2012Today, both JP Morgan Chase and Wells Fargo released their earnings, beating expectations on revenue and profit. Nonetheless, their stock prices fell throughout the day. I went through their earnings releases to see what kinds of interesting information they’ve put out relating to mortgages. Here’s the JP Morgan Chase release, and here’s the Wells release. Deposits are up at both banks (Move Your Money campaign notwithstanding), and new regulatory guidance on second liens seems to be having
The Coming Housing Finance Train Wreck ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/07/2012The interaction of immovable objects and inexorable forces is seldom pretty. One example is housing finance in the US. If no one blinks, an ugly situation could get even worse.
One the one hand, we have the complete lack of resolve on the part of the officialdom to fix the abuses in the private label securitization market, which prior to the crisis, accounted for 60% of mortgage financing. The weak risk retention rules in Dodd Frank don’t cut it, and the sell side (the major banks) have bee
Three Corporate Myths that Threaten the Wealth of the Nation ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/07/2012The wealth of the American nation depends on the productive power of our major business corporations. In 2008 there were 981 companies in the United States with 10,000 or more employees. Although they were less than two percent of all U.S. firms, they employed 27 percent of the labor force and accounted for 31 percent of all payrolls. Literally millions of smaller businesses depend, directly or indirectly, on the productivity of these big businesses and the disposable incomes of their employees
Jobd Act 2012 a Recipe for Fraud ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/07/2012It is hard to say enough bad things about the Jumpstart Obama’s Bucket Shops act in a short space. I’m in the UK now, and a contact asked me to explain it to him. When I told him of some of the major provisions, he could not believe what he was hearing. He said (correctly) that it was a great boon for conmen and aside from a few companies who were early to raise money under the new law, would make obtaining equity funding more difficult and costly for legitimate operators.
Why increasing infaltion is not likely to increase employment ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/07/2012Yves here. I have a mild quibble with part of the argument below, which is based on a study I find badly constructed. Having lived through the 1970s, I can attest that a certain level of inflation does lead people to spend faster to beat rising prices. But my sense it that effect does not kick in until inflation is perceived to be meaningful, say somewhere over 4-5% a year, and I suspect the effect is backwards looking (ie, consumers base their forecasts not on official projections, but on thei
The Case Against Passion ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/02/2012“Passion” became fashionable in business at around the time other forms of emotional overshoot were hot, like “delighting customers.” While there may have been earlier efforts by Tom Peters and other corporate quacks gurus to infuse staid, supposedly rational business behavior with more pizzaz, the passion fashion seemed to take hold in the dot-com era. And that in a perverse way makes perfect sense.
Spains Severity is Not Sustainable ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/02/2012The pain in Spain continues with the government releasing the country’s latest budget which has been described by some Spanish economists as ‘the most severe since Franco’:
Spain’s government has announced $36 billion in new budget cuts, as it attempts to reassure the European Union that it will not need a financial bailout.
The budget savings will take the form of a freezing of civil servant wages, ministerial spending cuts and new corporate taxes, announced Soraya Saenz de Santamari
How American Corporations Transformed from Producers to Predators ♦♦ By: Yves Smith ♦♦ Naked Capitalism04/02/2012Corporations are not working for the 99 percent. But this wasn’t always the case. In a special five-part series, William Lazonick, professor at UMass, president of the Academic-Industry Research Network, and a leading expert on the business corporation, along with journalist Ken Jacobson and AlterNet’s Lynn Parramore, will examine the foundations, history and purpose of the corporation to answer this vital question: How can the public take control of the business corporation and make it work fo
Spain Follows Greece ♦♦ By: Macro Man ♦♦ Naked Capitalism03/30/2012Back in November last year I posted on my confusion over the jubilation shown by the citizens of Spain as they elected Mariano Rajoy as their new political leader. Mr Rajoy’s strategy during the election campaign was to say very little about what he was actually intending to do to address his country’s financial problems, preferring to simply let the incumbent party fall on its own sword so that he could take the reins. It became obvious soon after the election that, despite his party’s best ef
Being Happy with your Doctor is bad for your Health ♦♦ By: Yves Smith ♦♦ Naked Capitalism03/30/2012There is an important study in the Archives for Internal Medicine last month, which escalates an ongoing row as to whether patient satisfaction is in any way correlated with positive medical outcomes. The answer is yes, and the correlation is negative.
This finding is of critical importance, not just in understanding why American medicine is a hopeless, costly mess, but also as a window into how easy it is for buyers of complex services to be hoodwinked by their servicer provider, whether v
Mortgage Settlement Institutionalizes Foreclosure Fraud ♦♦ By: Yves Smith ♦♦ Naked Capitalism03/30/2012Yves here. I hope you’ll take the time to read this important post. There has been a great deal of discussion of the many deficiencies of the mortgage settlement, but its biggest has gone pretty much unnoticed. It isn’t just that the settlement gives the banks a close to free pass for past predatory, illegal conduct, but it also has such lax servicing standards and weak enforcement provisions so as to give the banks license to carry on with servicing abuses.
Mortgage Settlement Institutionalizes Foreclosure Fraud ♦♦ By: Yves Smith ♦♦ Naked Capitalism03/30/2012Yves here. I hope you’ll take the time to read this important post. There has been a great deal of discussion of the many deficiencies of the mortgage settlement, but its biggest has gone pretty much unnoticed. It isn’t just that the settlement gives the banks a close to free pass for past predatory, illegal conduct, but it also has such lax servicing standards and weak enforcement provisions so as to give the banks license to carry on with servicing abuses.
Taking bosses for hostage- A negotiating tactic in France ♦♦ By: Yves Smith ♦♦ Naked Capitalism03/30/2012At 2 p.m on Thursday, the final day of the annually required wage negotiations that were going nowhere, Bruno Ferrec, the man in charge of the nine Fnac stores in Paris, and his HR Director were “retained” by 120 of his employees at a conference room at the Hotel Ibis in the rue des Plantes in Paris.
“Mr. Ferrec is in the middle of the room,” said Christian Lecanu, representative of the CGT
Michael Hudson on the Federal Reserve System ♦♦ By: Yves Smith ♦♦ Naked Capitalism03/29/2012But after the severe 1907 financial crisis, a National Monetary Commission was reformed. Under the then-Republican administration, it recognized a need for more active government intervention to prevent future financial crises. It also recognized the desirability of moving away from the Anglo-Dutch-American system of “merchant banking” based on short-term lending against collateral in place, or for shipping of goods already produced. The National Monetary Commission’s longest volumes were on th
MMT to the rescue in the Eurozone? ♦♦ By: Yves Smith ♦♦ Naked Capitalism03/29/2012We’ve already seen how, paraphrasing Archimedes, that financial instruments can move the world in a bad way. We have an opportunity to reverse that. Warren Mosler and I have just published a policy note at the Levy Institute that would, if implemented, bring an end to the Eurozone sovereign debt crisis.
The ‘tax-backed bond’ or ‘Mosler bond’ is based on the MMT idea that fiat money gets its value because the government accepts it in the payment of taxes. As the MMTers have been saying since
Tje Small World of Scams ♦♦ By: Richard Smith ♦♦ Naked Capitalism03/02/2012There isn’t an obvious place or time to start this loosely connected multi-post shaggy dog story, since it involves so many flashbacks and far-flung locations. Nor is it clear which of the many exceedingly dubious characters who feature in it should appear in the opening scene. So I’ll simply start in my old stamping ground, Oxford, a few weeks ago, and I’ll award myself a walk-on part, Hitchcock style. After that cameo, we double back and forth though time and space, like questing cyberhounds,
Two Senators with Access to Classified Information Say Saudi Government Backed 9/11 Attack ♦♦ By: Washington Blog ♦♦ Naked Capitalism03/02/2012For more than a decade, questions have lingered about the possible role of the Saudi government in the attacks on Sept. 11, 2001, even as the royal kingdom has made itself a crucial counterterrorism partner in the eyes of American diplomats.
Now, in sworn statements that seem likely to reignite the debate, two former senators who were privy to top secret information on the Saudis’ activities say they believe that the Saudi government might have played a direct role in the terrorist attacks.
Paul Davidson: What Makes Economists So Sure of Themselves, Anyway? ♦♦ By: Philip Pilkington ♦♦ Naked Capitalism01/19/2012In a recent interview I asked the US’s leading post-Keynesian economist and founder of the Journal of Post-Keynesian Economics, Paul Davidson to discuss what is known as the ‘ergodic axiom’ in economics. This is a particularly important axiom as it allows mainstream economists (including left-wing Keynesians like Paul Krugman and Joseph Stiglitz) to claim that they can essentially know the future in a very tangible way. It does this by assuming that the future can be known by examining the past
Obama to Make Recess Appointment of Richard Cordray to Head Consumer Financial Protection Bureau ♦♦ By: Yves Smith ♦♦ Naked Capitalism01/04/2012I have not seen this hit the news wires, but got this via Lisa Epstein, in turn from Our Financial Security, which is part of the Center for American Progress, which is a heavyweight Democrat think tank (with of course a whole list of talking points to rebut Republican kvetching about the use of a recess appointment).
This move raises the obvious question: why didn’t Obama make a recess appointment of Elizabeth Warren?
Marginalizing Ron Paul ♦♦ By: AAA Staff ♦♦ Truthdig12/30/2011Paul is being denigrated as a presidential contender even though on the vital issues of the economy, war and peace, and civil liberties, he has made the most sense of the Republican candidates. And by what standard of logic is it “claptrap” for Paul to attempt to hold the Fed accountable for its destructive policies? That’s the giveaway reference to the raw nerve that his favorable prospects in the Iowa caucuses have exposed. Too much anti-Wall Street populism in the heartland can be a truly sc
Congress Sics IRS on “Enemies” ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog12/29/2011I was thinking of writing a book. “The Coming Age Warfare”. If I did get around to it, the following story might be the first chapter. Like most wars, the one I see coming between young and old will simmer for years. Along the way there will be skirmishes that result in injury and bad feelings. I find this example comical. But there is nothing funny about it.
Throw the bums out! ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog12/19/2011You want change? Then you are going to have to force change. How? By voting against every incumbent ... even if the incumbent might appear to be the lesser of two evils. He/she isn't. The Powers That Be (TPTB) must be stopped. The only way to do that is to vote them out.
The Fed, MFG and Reg. T ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog12/13/2011The Fed made a bobo when it said it was OK to use customer money as collateral. You see ... if "they" get to do that ... it really isn't the customers' money any more. So ... Mr. Customer ... do you want to give your money to a Bankster? This is a naked short backed by deposits. No wonder they like naked shorts so much.
Quelle Surprise! Banks Lied About Bailout Funds and Got $13 Billion in Profit from Them ♦♦ By: Yves Smith ♦♦ Naked Capitalism11/28/2011The Banksters, the Fed and Washington all lied to the American People. Will they get in trouble for lying? Nope. They had to do it. Americans aren't smart enough ... or so they say. Are Americans smart enough to throw Washington and their Wall Street campaign backers out of office. Especially since bought and paid for Main Stream Media is going along with it?
The Best of the Bozeman Police Reports ♦♦ By: Tim Iacono ♦♦ The Mess That Greenspan Made11/27/2011With a drop in the temperature at this time of year, things seem to be quieting down around here after a busy summer and fall for law enforcement. The batch of reports below, while providing a bit of levity this Saturday afternoon, show a clear tendency for people to be staying home more, away from the bars downtown that seem to be the focal point for many of the incidents reported during the summer months.
The Fed makes a weird move ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog11/17/2011When the Fed does something ... everybody should be listening and watching for how it is going to hit them in the pocketbook
Bank of America's Socialize the Risk and Reap the Reward Business Model ♦♦ By: Robert Oak ♦♦ Economic Populist10/19/2011Bank of America and Bernanke have decided to go ahead and hit the American Tax payer another time. This time though ... the hit will come when the FDIC is forced to protect those who the Bank of America and the Fed don't care about ... American savers. When and if this goes bad ... the Bank of America and the Fed will be shocked. The question is will the go to jail?
Social Security to Bernanke – “You’re Killing Us!” ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog10/16/2011There's Bernanke's low interest rates for banks and then there's what everybody else pays. It adds up to save the banks and throw granny under the bus.
Discontent with Washington could spell trouble for incumbents ♦♦ By: John Lyon ♦♦ Arkansas News Bureau10/16/2011At rallies and protests in Arkansas and elsewhere, many are saying their voices have not been heard in Washington — a possible sign of trouble for incumbents heading into a new election cycle. This weekend the Occupy Wall Street movement reached Arkansas, with protests held in Little Rock and other cities in solidarity with the protests going on in New York against government and corporate policies that protesters say favor the super rich at the expense of everyone else.
OWS – Coming to a Town Near You ♦♦ By: Tim Iacono ♦♦ The Mess That Greenspan Made10/14/2011There's one in Fayetteville this Saturday, Oct 15th on the square.
What Do You Call a Jobs Bill That Begets No Jobs?: Caroline Baum ♦♦ By: Caroline Baum ♦♦ Bloomberg10/14/2011When President Barack Obama “pivoted” to jobs a few months back (from what, the White House didn’t say), he said he was going to take his plan to rebuild the U.S. economy directly to the American people.
It’s a good thing, too, because Congress isn’t interested. Obama’s $447 billion American Jobs Act of 2011 was never going to see the light of day in the Republican-controlled House. The Senate gave it the thumbs-down this week, voting 50-49 to block the bill, well shy of the 60 votes needed
You Know Things Are Bad When Doctor Visits Plunge 8% Year-Over Year ♦♦ By: AAA Staff ♦♦ Business Insider10/13/2011A lot fewer people are going to the doctor this year, and no, that's not a good thing.
Here's JP Morgan's John Rex: Sept ’11 office visit volumes down 8% y/y, while the sequential throughput measure increases 6% from August.... Primary care trends still running weaker... Med utilization still trending lower. At least there’s still some seasonal impact. At this point, we believe it’s well understood that 3Q medical utilization persisted weak, even biasing lower, and perhaps observing none of
How To Guarantee the Protests Will Succeed ♦♦ By: George Washington ♦♦ Washington's Blog10/12/2011Conservatives and Liberals Agree: End the Malignant, Symbiotic Relationship Between Big Government and Big Corporations. While many pretend that liberals and conservatives are too far apart to work together, there are actually many issues on which everyone can agree.
New bankruptcy ripples may emerge in tough economy ♦♦ By: AAA Staff ♦♦ Reuters10/11/2011Three years after the collapse of Lehman Brothers touched off a tidal wave of bankruptcy filings, corporate failures may be about to pick up again, with some big-name companies among those struggling for survival.
Companies in a range of businesses, including hair salons, restaurants, renewable energy, and the paper industry, have tumbled into Chapter 11 in the past few months.
'Zombie' in the budget: long-term health care plan ♦♦ By: AAA Staff ♦♦ MSNBC10/09/2011"That money should have never been counted as deficit reduction because it was supposed to be set aside to pay for benefits," Bixby added. "The fact that they're not actually doing anything with the program sort of compounds the gimmick."
The program was created under President Barack Obama's health care overhaul, and arguably provided much of the 10-year, $143 billion in savings claimed under the law. But now some Capitol Hill aides have dubbed CLASS a "budget zombie."
Politics, Money and OWS ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog10/09/2011Will Americans sit still why Obama and Geithner give American dollars to Europe? Will Europe eat dirt to save the banksters? The next few weeks will be full of risks as covert becomes overt. Jawboning is scheduled to be replaced with put up or shut up. The trouble is shut up might results in riots in America.
What Happened in September? ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog10/07/2011Sometimes ... OK ... usually ... statistics don't tell the whole story. September had 5 weeks in it. This is a skew.
The Fed Twists, the Market Shouts ♦♦ By: RON PAUL ♦♦ Lew Rockwell10/06/2011The economy is getting worse ... how bad is it? The Fed is about to start printing a lot of money. This will not end well.
Can … Should … there be another bank bailout? ♦♦ By: Angie Pratt ♦♦ PoliticalPosts.com10/05/2011The answer that the global bankers keep coming to is that they want the US taxpayer to save the world. And ... of course ... my world they mean their world. The one which has them on top. Another bailout is what they want. Will they get it?
House Republicans Request Special Counsel to Probe Holder on 'Fast and Furious' ♦♦ By: AAA Staff ♦♦ Fox News10/04/2011House Republicans are calling for a special counsel to determine whether Attorney General Holder perjured himself during his testimony to the House Judiciary Committee on Operation Fast and Furious, Fox News has learned.
House Judiciary Committee Chairman Lamar Smith, R-Texas, was sending a letter to President Obama on Tuesday arguing that Holder cannot investigate himself, and requesting the president instruct the Department of Justice to appoint a special counsel.
Just 22% Support Government-Assisted Mortgage Payments ♦♦ By: AAA Staff ♦♦ Rasmussen Reports09/26/2011Most Americans still don’t believe the government should help those who can’t afford to make their mortgage payments.
A new Rasmussen Reports national telephone survey finds that 65% of American Adults think if someone can’t afford to make increased mortgage payments, they should sell their home and find a less expensive one. Twenty-two percent (22%) feel the government should assist them in making their payments, while another 13% are not sure. (To see survey question wording, click here.
Time to end the Keynesian pretense about fiscal stimulus ♦♦ By: AAA Staff ♦♦ Reuters09/20/2011Deflation does hurt debtors and lenders, but it also advantages savers and institutions with cash to buy assets cheaply. The buyers of dead banks and bad assets generate real growth and jobs. When Roubini, Posen and other mainstream economists call for measures to avoid deflation, they actually cut off one of the few ways that consumers and private business have to offset the ill-effects of secular inflation — the real culprit behind the financial crisis.
Bernanke to Preempt Accusations of Do-Nothing Fed: Caroline Baum ♦♦ By: Caroline Baum ♦♦ Bloomberg09/20/2011Members of the Federal Open Market Committee meet this week to consider a range of unconventional tools for additional monetary stimulus.
One such tool, “forward guidance,” was unveiled at the Aug. 8-9 meeting: The Fed pledged to hold the benchmark rate near zero at least through mid-2013.
The odds-on favorite to debut at the conclusion of the two- day meeting is an effort to extend the maturity of the Fed’s portfolio, with the goal of lowering long-term interest rates.
The Market is On the Edge of a Cliff ♦♦ By: Graham Summers ♦♦ Gains, Pains, & Capital09/20/2011Summers put meat on the bones that Tim Duy reports ... the Fed will not announce QE3. The reason? Politics and a run for cover. The result is, if true, a market crash. Why? Simple. Wall Street has bet the farm that the Fed will do anything to prevent a crash. In the mean while, Democrats and Republicans play head games.
The $2 Billion UBS Incident: 'Rogue Trader' My Ass ♦♦ By: Matt Taibbi ♦♦ Rolling Stone09/17/2011The news that a "rogue trader" (I hate that term – more on that in a moment) has soaked the Swiss banking giant UBS for $2 billion has rocked the international financial community and threatened to drive a stake through any chance Europe had of averting economic disaster. There is much hand-wringing in the financial press today as the UBS incident has reminded the whole world that all of the banks were almost certainly lying their asses off over the last three years, when they all pledged to pu
BofA Said to Keep Bankruptcy as Option for Countrywide Unit ♦♦ By: AAA Staff ♦♦ Bloomberg09/16/2011Bank of America Corp. (BAC), the lender burdened by its Countrywide Financial Corp. takeover, would consider putting the unit into bankruptcy if litigation losses threaten to cripple the parent, said four people with knowledge of the firm’s strategy.
The option of seeking court protection exists because the Charlotte, North Carolina-based bank maintained a separate legal identity for the subprime lender after the 2008 acquisition, said the people, who declined to be identified because the p
Massive default is best way to fix the economy ♦♦ By: AAA Staff ♦♦ Market Watch09/13/2011You want to fix this economic crisis? You want to put people back to work? You want to light a fire under the economy?
There’s a way to do it. Fast. And relatively simple.
But you’re not going to like it. You’re not going to like it at all.
Default. A national Chapter 11 bankruptcy.
Just Another Day at the Office for Gold ♦♦ By: Tim Iacono ♦♦ The Mess That Greenspan Made09/07/2011Who has physical gold and who has paper? Those who have some want more. Those that don't ... well ... too bad.
On the Swiss Move ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog09/06/2011What in the world did the Swiss think they were doing? Are they all in now. Sure hope bad things don't happen.
Obama, not tea party, to blame for economy ♦♦ By: AAA Staff ♦♦ Hattiesburg American09/02/2011The tea party has been excoriated by the intellectuals for their members' simplicity and rigidity.
Could this mean the liberals are simpletons and rigid also?
Our president stands near the world's largest personal jet and criticizes corporate jet owners.
Corporations keep large amounts of their profits overseas because the United States has one of the highest taxes in the world on corporations at 35 percent.
Struggling With A Great Contraction ♦♦ By: John Mason ♦♦ Mase: Economics and Finance08/31/2011We are in need of a leader who is willing to scrifice today for tomorrow. Is there one? Anyone?
The Fed's Plan - Rumors of News ♦♦ By: Bruce Krasting ♦♦ Bruce Krasting Blog08/31/2011Just another bailout. This is a twofer in that homeowners and banksters get bailed. Too bad for the American taxpayer who is current on their mortgage. And ... these yahoos want us to vote for them.