“McCain’s former economic adviser is ex-Texas Sen. Phil Gramm. On Dec. 15, 2000, hours before Congress was to leave for Christmas recess, Gramm had a 262-page amendment slipped into the appropriations bill. It forbade federal agencies to regulate the financial derivatives that greased the skids for passing along risky mortgage-backed securities to investors.
And that, my [...]

“The US Federal Reserve announced a 180-billion-dollar cash line to fight the racing fires of global financial crisis Thursday, as leading central banks said they would join in.
The Federal Reserve said it was expanding its temporary arrangements for banks to obtain dollars by 180 billion ‘to provide dollar funding for both term and overnight liquidity [...]

Here is a book written by a famous MD which gives a step by step method of getting rid of headaches. It is a great book and offers relief for most headache sufferers, in my opinion. Here is a link to the book on Amazon: http://www.amazon.com/Heal-Your-Headache-Program-Taking/dp/0761125663/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1220993314&sr=1-1 . And here is what some [...]

The TransUnion Trend Data for the 2008 second quarter shows the credit card delinquency rates and average debt per borrower are up from this time last year. The figures are compiled from 27 million consumer reports sampled each month. Here is how the numbers break-down:
Average credit card delinquency: This is defined as the [...]

In a repeat of yesterday’s events, the Russian stock market re-opened only to close thereafter. “:Russian markets stopped trading for a second day after emergency funding measures by the government failed to halt the biggest stock rout since the country’s debt default and currency devaluation a decade ago.
The ruble-denominated Micex Stock Exchange suspended trading [...]

“Russian shares suffered their steepest one-day fall in more than a decade on Tuesday, losing up to 20 per cent, as a sharp slide in oil prices and difficult money market conditions triggered a rush to sell.
The heads of the Russian central bank, the finance ministry and the financial market regulator met on Tuesday night [...]

Again as with Fannie Mae and Freddie Mac, today’s takeover of a private corporation by the federal government (with your tax dollars) is not being challenged or even seen as out of the ordinary. Has there ever been more intervention in private corporate affairs by the US government in the history of this country? [...]

Why would banks hoard cash? One can speculate as to their reasons, but the fact is that this is exactly what is happening. One result of that action is that overnight interest rates doubled and now stand at their highest point since 9-11. (Another is the Federal reserve having to pump more and [...]

Not surprisingly, given its past actions and the strength of the recent reversals in the market, but the Federal Reserve has added another 70 billion in reserves to the banking industry. Banks appear to be hoarding cash while demand increases. “The Federal Reserve added $70 billion in reserves to the banking system, the [...]

I know this is a bit off the subject of bankruptcy, but very intersting and informative.
At the Inns of Court meeting this week, the guest speaker, a bankruptcy lawyer, spoke about his representation of several detainees at Guantanamo Bay. This clip is pretty much the same subject matter and tone as his [...]