The End of Bush's Crusader Capitalism

Centuries before Adam Smith (the father of Capitalism) wrote in The Wealth of Nations that "progress results when individuals and businesses follow their own self-interests" and when "consumers compete with each other," the Christian crusaders of the Middle Ages were already pursuing such values....

Read more The End of Bush's Crusade


Source: world news

Citi battles rumours of sale, merger

A day after it lost more than a quarter of its value, rumours were rife on Friday that Citigroup was considering a sellout (in parts or whole) or at least a merger...

Read more Citi battles rumours of sale, merger


Source: the times of india

The Door: Citigroup Job Cuts Will Top 100,000

We've run the numbers.

And even though Citigroup had announced 22, 000 job cuts back in October,and now another 53,000 - it is our numbers that tell us that their job losses will total more than 100,000.

Read today's headlines Another 53,000 Pink Slips for Citigroup


Source: yahoo news / cnn

UPDATE: Jobless Claims Hit 25-year High

The number of workers filing new claims for jobless benefits rose by an unexpectedly steep 32,000 last week to 516,000, the highest since the weeks following the September 11, 2001 attacks on the United States, the Labor Department said.

Read more Jobless claims hit 25-year high, imports plunge


Source: reuters

The Death of the U.S.Dollar

We are living in economic chaos. Banks, homes, jobs, and businesses are at risk. Yet curiously, the one thing that seems stable is the dollar.

It is a symbol - and a lever - of American power and leadership, itis the standard unit of account for much of the world's economic activity

Read more Death of the U.S Dollar


Source: bbc news

Fear Over Economy Spreads

"Given the likely drawn-out nature of the prospective adjustments in housing and financial markets, I see the most probable scenario as one in which the performance of the economy remains subpar well into next year and then gradually improves in late 2009 and 2010....


Read more Fear and loathing over economy spreads

Bush: Contender For Worst US president Ever

If only US President George W. Bush could point to some meaningful successes...


Read more Bush is a strong contender for the title of worst US president ever




Sorce:Daily Star Lebanon

Fannie Mae Was Pressured To Take A Risk

"Almost no one expected what was coming. It's not fair to blame us for not predicting the unthinkable."-

Read more Fannie Mae Pressured

Michael Bloomberg - Economic Crisis May Get Worse

Michael Bloomberg, Mayor of New York City and founder of Bloomberg, L.P., warns of a further worsening of the current U.S. economic crisis.

Michael Rubens Bloomberg (born February 14, 1942) is an American businessman and the Mayor of New York City. He ran on the Republican ballot and was elected mayor in 2001, then reelected to a second term in 2005.

He is currently listed on the Forbes 400 as the eighth-richest American, with a net worth of US$20 billion.

Read more about Michael Bloomberg

Source: fora.tv

Treasury Secretary Henry Paulson at Senate Banking Hearing

Senate Banking hearing on Pres. Bush's financial bailout plan included: Treasury Sec. Henry Paulson; Fed. Reserve Chairman Ben Bernanke; SEC Chairman Christopher Cox; and OFHFA Chairman James Lockhart III.


Source: cspan

The Bailout: Lets Break This Down

"There's a terrible crisis affecting the American economy. We have come together on a bill to alleviate the crisis.."

Read more Full Report

American's Now Fearing For The Worst

As the financial markets and congress take another pause to 'think' and look for solutions, Americans fear for the worse....

Read more Financial carnage leaves Americans fearing the worst