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Financial Fallout: Bank Failures, Homelessness
Your bank just locked its doors. Should you worry? Pittsburgh: Forty people wearing red tee shirts and carrying signs marched right into a National City Bank last Friday morning. They chanted “Criminal...
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Hold On… The Ride’s Just Starting
IndyMac Goes Down – Largest Bank Failure EVER Photo from LA Times That minor recession that John McCain’s erstwhile economic advisor informed us just last week is “all in our heads” got worse as FDIC...
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Good News? Globalization Slows Down
Transportation Costs Hit the ‘New World Order’ The Sunday New York Times offered an in-depth analysis on August 3 by Larry Rohter entitled, Shipping Costs Start to Crimp Globalization. A decade ago oil...
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Don’t Panic!
Retirement Accts. Decimated, Layoffs Coming Well, it was a tough weekend. After insurance giant AIG hinted that it might be heading for bankruptcy, investment bank Lehman Bros. went ahead and filed...
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A Tragi-Comedy of Greed
Watching Treasury’s Paulson on Meet the Press Sunday made me sick. That pitiful, pleading look, the bizarre non-logic, the reversion to fear, fear, fear… the guy’s a cheap crook in an expensive suit...
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Survive the ’08 Meltdown: Part 1
Roadblocks and Interference As Congress meets today and tomorrow to grill the principals before Friday’s vote on the $700 billion “emergency” Wall Street bailout plan (which has been in the works for...
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Bailouts Get Bigger When Banks Fail
…and HCR update The biggest bank failure of 2009 happened last week when the FDIC moved to shut down Colonial BancGroup of Alabama, along with four other banks, bringing the total thus far this year to...
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