Here is an interview with Neil Barofsky “who [is] a special inspector general monitors a dozen separate bailout-related programs that now account for nearly $3 trillion in financial commitments.” He states in this interview that the TARP money has not compelled any new lending, that many if not most banks can indeed track where the [...]

Want a story with Muammar Gaddafi, Donald Trump, Libyans posing as Dutch diplomats (wonder why they got caught?), Diane Sawyer and a giant tent?  Me too.  Here it is:  first, Muammar (can I call him that?)  wants to come to speak to the United Nations, he wants to stay in his tent – who wants [...]

In yet another interesting twist, there is now a proposal floating about that would have the big banks bail out the FDIC.   “Senior regulators say they are seriously considering a plan to have the nation’s healthy banks lend billions of  dollars to rescue the insurance fund that protects bank depositors.  That would enable the fund, which [...]

In yet another “you will only see it here” posting, here is a link (thank you Jeff) which was forwarded to me which is unbelievable and I recommend that you watch it: http://link.brightcove.com/services/player/bcpid1137883380?bctid=21337502001
 Then you too can thank Jeff, who sent it to me! 
Michael

Canadian auto part manufacturer, Magna, appears to be the winning bidder in the long running sale of the German auto maker, Opal, which is now owned by GM.  This should be interesting as it progresses as Saturn’s showrooms are filled with Opal products.  So, as GM unwinds its ownership of various companies which had intertwined [...]

Russia and China have both previously made noises about a new currency; however, now the United Nations has joined this chorus along with a proposal for a more powerful central bank.  “In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the [...]

The unemployment rate rose to 9.7% with about 216,000 more jobs lost during August.  However, the actual rate is even worse when one accounts for those who have given up looking for a position and those who are working part time, but want full time employment.  That rate is 16.8%! “The tally now stands at [...]

Bankruptcy filings continue to grow to 119,874 in August from the previous year. “Consumers continue to turn to bankruptcy as a shield from the sustained financial pressures of today’s economy,” said Samuel Gerdano, the executive director of the American Bankruptcy Institute. “As a result, we expect consumer filings to top 1.4 million this year.”
Our nation’s [...]