Govt Turns on Goldman Sachs, One of Its Kept Financials
The Securities and Exchange Commission filed a lawsuit April 16 against New York-based investment bank Goldman Sachs. The SEC alleges that Goldman committed...
Sectors
Fed Ends MBS Intervention
The Federal Reserve ended its largest intervention in the housing market on April 1, ceasing its purchase of Mortgage-Backed Securities (MBS) that began...
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Real Unemployment Still in 17 Percent Range
According to the U.S. Labor Department, the economy added 162,000 jobs in March, the most since the beginning of the worst recession since...
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Geithner: Jobless Rate to Stay “Unacceptably High”
Voice of America on April 1 quoted U.S. Treasury Secretary Timothy Geithner’s statement that the U.S. jobless rate will be "unacceptably high" for...
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Housing: Washington Only Delaying Inevitable
Friday’s announcement of more intervention in the housing mortgage market will result in a deeper, longer, and more painful delay in the inevitable...
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Fed Loses Secrecy Suit, Considering Options
The Federal Reserve lost an appeal March 19 in a bid to keep hidden the details of its estimated $2 trillion in bailouts...
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Social Security Trust Fund in Red, Drawing on Federal IOUs
The March 15 Associated Press story was blunt: "For more than two decades, Social Security collected more money in payroll taxes than it...
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Lehman Bros.: Pinprick That Burst the Bubble
The culprits blamed for the failure of Lehman Brothers in September of 2008 included the company’s top executives, their accountants, their highly-leveraged loans...
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Bailout Baloney — Insurance
On Wednesday, February 10, Federal Reserve Chairman Ben Bernanke expressed confidence that every cent of the Federal Reserve’s exposure to insurance giant AIG...
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Sluggish Spending and the Non-Recovery
Coming in the immediate aftermath of news that the sale of new homes dropped in January to its lowest point in 50 years,...
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Home Sales Drop to 50-Year Low
There are further signs that Barrack Obama’s jobless “recovery” is, in fact, no recovery at all. The latest indication of the fundamental unsoundness...
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Bailout Baloney – Banking
More than a year has elapsed since the U.S. economy went into a tailspin with the panic that shook the world’s financial markets...
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Federal Stimulus Almost Gone: Education Budget Woes
Sam Dillon of the New York Times reports that the depletion of federal stimulus money will result in schools approaching "a funding cliff."...
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Fed Trying to Protect Bailout Secrecy
Last summer, a federal judge ruled that the Federal Reserve must disclose the identities of firms that received any portions of the over-$2...
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Obama Ponders New Taxes on Banking
The Obama administration is considering asking Congress to impose higher taxes on banks as a way of cutting the deficit. Proposals that have...
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