AIG gets another $30 billion cash infusion

The U.S. government is preparing to loosen the terms of its huge loan to the American International Group and provide another $30 billion to the insurer as it prepares to report a $62 billion quarterly loss, the biggest in history, on Monday, people involved in the discussions said Sunday night….

Read more AIG bailout continues…

Source: iht.com

Reliving the 1930’s – Chance for U.S. depression now 20%

The most serious concern is that the downturn will become something worse than the largest recession of the post-World War II period -- 1982, when real per capita GDP fell by 3% and the unemployment rate peaked at nearly 11%.

Could we even experience a depression (defined as a decline in per-person GDP or consumption by 10% or more)?

Read more possible depression in U.S.

Source: breitbart.com

Merrill Lynch executives now facing bonus money probe

New York’s attorney-general issued subpoenas Wednesday night to seven executives from Merrill Lynch, each of whom received a bonus of more than $10m for 2008, calling on them to give depositions concerning those payments.

Prosecutors from the office of Andrew Cuomo have been investigating the early payment of $3.6bn in cash bonuses at Merrill Lynch since late January, when they were first disclosed by the Financial Times...

Read more Seven Merrill executives face bonus probe

Source: www.ft.com

Blind man can now see, thanks to Bionic Eye

A bionic eye implant that could help restore the sight of millions of blind people could be available to patients within two years.

US researchers have been given the go-ahead to implant the prototype device in 50 to 75 patients...

Read more bionic eye,

Source: news.bbc.co.uk

Obama makes Secret anti-terror Bush memos public

The Justice Department on Monday released a long-secret legal document from 2001 in which the Bush administration claimed the military could search and seize terror suspects in the United States without warrants.

The legal memo was written about a month after the Sept. 11 terror attacks. It says constitutional protections against unlawful search and seizure would not apply to terror suspects in the U.S., as long as the president or another high official authorized the action...

Read more Bush memos made public by Obama

Source: breitbart

Bankers tell Obama, “Stop trashing us”

"Mr. President, of the over 8,000 banks in this country, very few ever made a single subprime loan, and they did not engage in the highly leveraged activities that brought down Wall Street firms,"..

Read more Bankers: Stop trashing us..

Source: politico

Huge Mass Graves Found

Bangladeshi soldiers recovered 10 more bodies in a second mass grave in a military compound in the capital on Saturday, bringing to 76 the death toll from a mutiny staged by border guards over pay…

Read more more mass graves…

Source: oil.co.za