The Bailout Was a Wealth Transfer Scheme
The Emergency Economic Stabilization Act of 2008 created the $700 billion bailout (plus $100 billion in add-ons) Troubled Assets Relief Program (TARP), a wealth transfer scheme so brazen as to leave one breathless. Another Fed bubble had popped; losses in the real estate mortgage meltdown were real; they had already taken place. The only real question was who would be made to eat those losses: the investment banking community that earned millions in fees each year in the debacle and their offspr...
Canada Nov housing starts rise to 2009 high
Housing starts in Canada rose by a weaker-than-expected 0.7 percent in November but hit their highest level of the year on an increase in construction of single-family homes.
Body mass and waist size can predict heart disease
Measuring body mass index or waist size in overweight people can accurately predict the risk of heart disease, Dutch scientists said on Monday.
Hunger, family homelessness on rise in U.S. cities
Hunger is spreading while the number of homeless families is increasing as a result of the recession and other factors, according to a report on Tuesday.
China Mobile, RIM to offer BlackBerry to China consumer
China Mobile and Research in Motion will offer BlackBerry handsets and Internet service to consumers as well as smaller firms in China, the two firms said on Tuesday.
McDonald's U.S. Nov same-store sale dip, shares fall
McDonald's Corp said sales at established U.S. restaurants fell 0.6 percent in November, the latest sign that the fast-food sector that had performed well through most of the recession is weakening.
Auto, Commercial, Small Biz Loan Opportunities in 2010: Wells Fargo
Wells Fargo (WFC) CEO John Stumpf said on Tuesday that he expects to see opportunities for growth auto, commercial and small business loans next year.
Stock futures lower on 3M outlook, weaker oil prices
Stock index futures pointed to a lower open on Tuesday as declining oil prices pressured energy shares and 3M Co's outlook for the current year came in below analysts' forecast.
Dubai World, creditors mull new date for Dec debt
State-controlled Dubai World is discussing a new date with banks for $3.5 billion in debt falling due on Dec. 14, but with no deal yet announced, spooked investors sold Dubai shares down to 21-week lows.
Saab hopeful can find buyer, avoid BAIC carve-up
Saab remains optimistic a buyer can be found for the whole company in the face of indications its owner, General Motors Co, is talking to China's BAIC about a partial sale of assets tied to the Swedish brand.
Obama keeps focus on jobs, warns no silver bullet
President Barack Obama, battling a public outcry over double-digit U.S. unemployment, on Tuesday will lay out several new steps to boost jobs and confront a challenge that has hurt his popularity.
McDonald's U.S. November same-store sales dip
McDonald's Corp said sales at established U.S. restaurants fell 0.6 percent in November, marking the second straight month of declines at domestic outlets, and its shares fell 2.6 percent.
Dubai: 6 months too short to restructure Dubai World
Six months is not enough time to restructure indebted state-controlled conglomerate Dubai World, the emirate's finance chief said on Tuesday, adding that it had enough assets to meet its obligations.
FedEx raises fiscal second-quarter forecast
FedEx Corp said on Monday that its second-quarter earnings would easily beat its previous forecast, citing strong growth in international demand for its air services, especially in Asia and Latin America, and its shares rose more than 3 percent.
Tesco sales towards bottom end of forecasts
Tesco Plc, the world's No.3 retailer, posted quarterly sales growth toward the bottom end of forecasts, held back by a drop in food price inflation, but said a gradual consumer recovery remained on track.
Stock futures lower on economic caution
Stock index futures were lower on Tuesday after cautious comments from Federal Reserve Chairman Ben Bernanke sparked jitters about the pace of economic recovery.
Stock futures signal mixed open on Wall Street
Stock index futures pointed to a mixed open on Wall Street on Tuesday, with futures for the S&P 500 up 0.21 percent, Dow Jones futures down 0.07 percent and Nasdaq 100 futures down 0.13 percent at 4:33 a.m. EST.
Dubai World, creditors mull new date for December debt
State-controlled Dubai World is discussing a new date with banks for $3.5 billion in debt falling due on December 14, but with no deal yet announced, spooked investors sold Dubai shares down to 21-week lows.
Japan unveils $81 billion economic stimulus
Japan's government agreed on a $81 billion stimulus package on Tuesday, aimed at preventing the economy from tipping back into recession as deflation persists and a strong yen threatens exports.
Japan unveils $81 billion stimulus
Japan's government agreed on a $81 billion stimulus package on Tuesday, aimed at preventing the economy from tipping back into recession as deflation persists and a strong yen threatens exports.
Japan unveils $81 billion stimulus, limited impact seen
Japan's government agreed on a $81 billion stimulus package on Tuesday, aimed at preventing the economy from tipping back into recession as deflation persists and a strong yen threatens exports.
Stocks and dollar struggle after Bernanke comments
Global share markets were becalmed on Tuesday and the dollar struggled after Federal Reserve Chairman Ben Bernanke gave a cautious assessment of the world's biggest economy, driving investors toward government debt.
Oscar insiders take their movie chat online
Adam Shankman has a Twitter habit, and it's making Academy officials nervous. Although the Academy of Motion Picture Arts and Sciences has nothing against publicity, it likes to dole out its news about the 82nd Annual Academy Awards, set for March 7, on its own timetable.
Gorman to shuffle Morgan Stanley top management: report
James Gorman, who takes over as Morgan Stanley's chief executive on January 1, plans to put finance chief Colm Kelleher and banker Paul Taubman in charge of the company's institutional securities unit, the Wall Street Journal reported citing a person familiar with the situation.
U.S. pay czar to exempt some AIG execs from salary cap: report
Kenneth Feinberg, the Obama administration's pay czar, will exempt some executives at American International Group from a $500,000 salary cap after at least five employees threatened to quit, Bloomberg reported citing people familiar with the matter.
Asia job outlook improves, U.S. recovery muted: poll
A forward-looking measure of hiring intentions improved in the United States and most other countries, suggesting job growth may resume in the first quarter, according to a quarterly survey by Manpower Inc .
Dollar dips on Bernanke comments, shares hover
The dollar dipped on Tuesday after Federal Reserve Chairman Ben Bernanke dampened speculation of an early U.S. interest rate rise, while Asian shares steadied as investors took a breather after recent gains.
GM in talks on partial Saab sale to BAIC: sources
General Motors Co is talking to BAIC, China's fifth largest car maker, about a partial sale of assets associated with its Saab brand, including tooling and technology, two people with direct knowledge of the discussions said.
Dollar dips after Bernanke comments, shares falter
The dollar dipped on Tuesday after Federal Reserve Chairman Ben Bernanke dampened speculation of an early U.S. interest rate rise, while shares faltered on renewed concern about the strength of the global recovery.
GM in talks on partial Saab sale to BAIC
General Motors Co is talking to BAIC, China's fifth largest car maker, about a partial sale of assets associated with its Saab brand, including tooling and technology, two people with direct knowledge of the discussions said.
