“Stock markets sank Thursday in Greece, Portugal and Spain amid worries over the European Union’s debt woes, with Greek customs and tax officials walking off the job in opposition to cutbacks aimed at digging the government out of a budget crisis that has shaken the entire EU.
The 48-hour Greek customs strike is expected to [...]

The idea of just sending the keys to your house or condo back to the lender would have been unthinkable just a year or so ago; now underwater owners are doing just that all over the country.  This is especially true once they lose any hope for lender assistance in making their payments and realize [...]

(This author will confess that he loves these kind of discoveries!)  It was known that on the back of one draft of the Constitution was another text by James Wilson, but that version stopped abruptly.   The rest of that early draft has now been “discovered” and may be placed with the other drafts of the [...]

A new initiative should be announced today which is to help small businesses grow and add employees.  No doubt this is an effort to balance criticism that the bail out money has been more directed at saving the big banks and not the small businesses who made no risky investments, nor took fat bonuses for [...]

“Spyker [the tiny exotic automaker who has long been negotiating for Saab ownership] has agreed to pay $74 million in cash and $326 million in preferred stock in a new Saab that will emerge from this deal. The Swedish government has agreed to guarantee a $563 million (400 million Euro) European Investment Bank loan for [...]

Someone lost their balance, fell and ripped a Picasso at the Met.  (I am so glad it wasn’t me….)  “The accident occurred in a second-floor gallery of early Picasso works when a patron participating in one of the museum’s art classes lost her balance and fell on the canvas, the museum said.  It happened during [...]

The best prognosticators I know of are at Elliott Wave.  I have referred to their work here many times.  If I have not made their views clear before, then I shall do so now.  From their January 14, 201 Theorist: “the fact that investors are still giddy – which is an apt word for today’s [...]

As a follow up to the post on Jan. 19, 2010 regarding the increase in hate crimes and “us versus them” mentality during a major bear market, which is what we are in now (according to the folks at Elliott Wave Int’l. – the group I most respect on matters financial), news out today says [...]

Here is a great article which provides insight into the new rules on banking:  “At its heart, Volcker’s plan restricts banks from making speculative investments that do not benefit their customers. He has argued that such speculative activity played a key role in the financial crisis. The administration also wants to limit the ability of [...]

Goldman Sachs has announced that it “earned” 13.4 billion in profit in 2009 and was set to pay 16.2 million in bonuses, which equates to around a half million per employee, although the bonus money will not be evenly spread around the firm.  “Since the financial crisis, all Wall Street banks have benefited from an [...]