Warning: This is Not Another Wall Street Conspiracy Theory, These are the Facts
This is an interesting story about the latest financial crisis, aka Mortgage Meltdown, Credit Crisis, the Day the Music Died…
Just last week, the House Committee on Oversight and Government Reform held a hearing on the U.S. Federal Reserve’s decision to directly pay billions of dollars to banks as part of its scheme to bail out [...]
How Wall Street Ruined Main Street
Wall Street’s Stranglehold on the Economy Is Choking Americans
America’s Founding Fathers were afraid of any concentration of power in the republic. They were particularly afraid that banking interests could hijack our fledgling democracy.
And yet today, 234 years later, our Founding Fathers’ worst fears have come true. Wall Street’s stranglehold on the economy threatens our very [...]
JP Morgan Chase Up on Earnings Report
Banks, insurers head higher – MarketWatch
A quartet of top U.S. bank stocks rose on Wednesday after J.P. Morgan Chase & Co. reported earnings that surpassed Wall Street estimates, and the insurance sector also weighed in with gains to lift financial stocks more than 2%.
I suggest that the management at JPM horde all that cash, as [...]
Mortgage Meltdown Meets Credit Crunch
Geez, it’s about time!
Senior administration officials pressed executives from the nation’s largest banks Tuesday to speed help to distressed borrowers after a frustrating start to the government’s foreclosure-prevention effort and set a goal of more than doubling the number of homeowners receiving aid by November.
U.S. Asks Banks to Speed Up Mortgage Modifications for Troubled [...]
Economic Improvement?
CIT Bondholder Pact Proves Life After Death With Markets Rescue – Bloomberg.com
July 21 (Bloomberg) — For CIT Group Inc., the emergence of a $3 billion loan agreement with bondholders preventing bankruptcy shows there is life after death in the credit markets.
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