"A republic, if you can keep it." Vegas, taxes.
"A republic, if you can keep it." Vegas, taxes.
The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building. Delinquencies for prime mortgages doubled in April compared to one year earlier while Alt-A mortgage delinquencies…
That’s what permabear Nouriel Roubini says is coming in a Barron’s interview. Only $300bm has been written down so far. Barron’s: Unfortunately for the rest of us, you have a pretty good track record. How much more misery lies ahead?…
Up pops those pesky Auction Rate Securities. You remember them. Financial institutions sold them to the wealthy as a place to park their money that was just like cash but yielded a bit more. Whoopsie. They weren’t like cash at…
California governor and centi-millionaire Arnold Schwarzenegger signed a draconian order today slashing the pay of tens of thousands of state employees to $6.65 an hour (until a budget is passed, then they get retroactive pay) Gosh, I’m sure my friend…
– The no naked shorts rule was finally enforced, but only for a privileged group of ailing financials. – The Fed extended their emergency lending facility to January 2009. – Cramer today was happily perky about how Citi could be…