US Treasury Calls TARP Repayments A “Milestone” While Ignoring The Elephants In The Room
Treasury’s Victory Call On Financial Bailout Premature The Treasury Department’s latest public relations effort to highlight the success of the financial system bailout focuses on the amount of TARP repayments versus total debt outstanding. In addition, the [...]
If You Buy A Lottery Ticket In Connecticut Don’t Go On Vacation
Living Beyond Your Means Connecticut is facing a projected $8 billion dollar plus deficit over the next two years. In an attempt to prevent raising taxes which are already among the highest in the nation, Connecticut is [...]
Stanford Financial Ponzi Scheme – New Fraud, Old Lessons
Stanford Free – Does Crime Pay? On February 17, 2009 Stanford Financial was accused by the SEC of defrauding investors and engaging in a “massive, ongoing fraud”. The fraud was perpetrated by seducing investors with “improbable if [...]
Sanity Returns to Mortgage Lending – After Trillions In Losses
Liar Loans To Become Illegal New legislation passed by the House will outlaw “stated income” mortgage loans (commonly called liar loans). WASHINGTON — The House voted Thursday to outlaw “liar loans,” ballooning mortgage payments and other bank [...]
Frugality The New Lifestyle For Many
Hard Times Bring Back Thrift Without the aid of easy credit, matching income with expenses has required cutbacks in consumer expenditures and forced price reductions and layoffs by businesses. Frugality has become the new mantra for many [...]
AIG Says We Must Retain The Talented Staff That Lost $170 Billion
According to AIG, Good Work Must Be Rewarded Record Loss AIG, whose fourth-quarter loss was the worst in corporate history, earmarked $1 billion in retention pay for about 4,600 of the company’s 116,000 employees so they won’t [...]
Obama Approves 8,500 Earmarks While Vowing To Fight Them – What?
Obama Says: Hear What I Say, Don’t Watch What I Do After campaigning on promises to reform Washington, it was easy to be confused by the Washington Post article – Obama Signs Spending Bill, Vowing To Battle [...]
Economists Give Obama Grade Rating of F – An Ugly Ending
The First Test Results Are In Obama, Geithner Get Low Grades From Economists U.S. President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest [...]
Common Sense Banned In Washington
Words of Wisdom None of the following quotes would make any sense to the ruling elite in Washington. 1. “You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives [...]
