So…….. As China Begins To Unpeg From The US Dollar……….
……. How many minutes after the official notice arrives does our Dictator In Training Pants hit the hardwood for some 3-on 3, or set the guest list for the next White House par-tay ? The other part of that question is……… As China unpegs from The US Dollar, does the FDIC order pension plans to buy into ‘failed’ banks and how much more will The | Read More »
Obama creates real jobs in IL, or ACORN community organizing coming home to roost?
Great news! There are over 500 real jobs coming to IL, high paying too. Among the vacant positions in Schaumburg: One opening for a training specialist, with a salary of $88,055 to $145,697; a slot for a facilities services assistant, with a salary of $43,396 to $69,061; and three positions for counsels, who will be paid $107,799 to $202,515. Pretty impressive, but wait, there’s more! | Read More »
Financial crisis has been good for Senator Feinstein (D-CA)
Promoted from diaries – Moe lane. The democrat Senator and her real-estate investor husband, Richard Blum, have done very well from the current economic downturn, thanks in no small part to the senator’s timely legislation. From the Washington Times: On the day the new Congress convened this year, Sen. Dianne Feinstein introduced legislation to route $25 billion in taxpayer money to a government agency that | Read More »
While we’re on the subject of bail-outs…
Jon Corzine had an idea or two about the “housing crisis”. He’d like to do a couple of things. And because he’s a Democrat and has no clue about The Law of Unintended Consequences, he – and the Democrat controlled legislature – don’t understand that they will likely kill the housing market in NJ.
Last week was Citigroup’s turn. Citi is one of the world’s best-known banking brands, and was once America’s largest bank by market capitalization. Last week, investors knocked 60% off the value of Citi’s stock, in a nerve-rattling selloff that was too reminiscent of Bear Stearns and Lehman Brothers for comfort. Citigroup is too large to fail. It has about 200 million accounts in more than | Read More »
Why Did Obama Insist On Increasing the FDIC Limit?
I haven’t seen any comments related to Obama’s desire that the FDIC limit be raised from the current $100,000 to $250,000 via the “recovery” bill. This seems a tad odd and out of line with his professed love for the middle class and poor down trodden folk in general. After all how much of the “struggling middle class” have accounts with $250,000 in them? Given | Read More »
So, What is Plan B?
Now that the Paulson Plan has failed to pass the House (at least this time around) the question everyone seems to be asking is: Where do we go from here?
Chuck Schumer Owes the Public an Apology
Federal regulators seized and shut down IndyMac on Friday evening. The bank will reopen today under federal control. For the first time in recent history, a United States Senator is being blamed for the crisis. In a written statement, the Office of Thrift Supervision, which regulated IndyMac, said “the immediate cause” of the failure was statements made by Sen. Charles Schumer, a New York Democrat. | Read More »
BREAKING: Bank Collapses. Feds cite Sen. Chuck Schumer as “immediate cause” of collapse
Federal regulators just seized and shut down IndyMac, a major mortgage specialist. The Pasadena, Calif., thrift was one of the largest savings and loans in the country with about $32 billion in assets. It now joins an infamous list of collapsed banks, topped by Continental Illinois National Bank and Trust Co., which failed in 1984 with $40 billion of assets.IndyMac specialized in Alt-A loans, a | Read More »