Month January 2011

Ex-CEO and CIO of Iceland bank arrested

Iceland gets it. They choose to save their country, not the bondholders. They let their banks collapse, told the bondholders to stuff it (they owe $81 billion and haven’t paid back a penny), and their economy is now recovering. Now…

States will pay interest now on unemployment borrowing

Interest free loans from the federal government for state unemployment insurance have expired. The states now have to pay interest. California will now ‘borrow’ money from the state disability fund to pay for unemployment, which seems a desperation move to…