Archive for June, 2009:

What Was Christopher Moltisanti Doing At The Madoff Sentencing?

{ Posted on Jun 30 2009 by John Carney }
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Zack Kouwe brings out the flavor of yesterday's sentencing of arch Ponzi schemer Bernie Madoff. It's an entertaining read, bringing you right into the middle of the crazy throng of reporters and victims outside the court house in lower Manhattan. ...Read More »

Oklahoma Pol Blames Gays For The Bad Economy

{ Posted on Jun 30 2009 by Joe Weisenthal }
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Sally Kern is an Oklahoma state representative with her own, unique take on the economic crisis: gays are to blame. She's introduced a proclamation stating: WHEREAS, we believe our economic woes are consequences of our greater nationalmoral crisis; andWHEREAS, this nation has ...Read More »

CHART OF THE DAY: Americans Suckle On The Government’s Teat

{ Posted on Jun 30 2009 by Joe Weisenthal,Kamelia Angelova }
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Americans are saving and paying off credit card debt at levels not seen in years, but where's that money coming from? Increasingly, it's not coming from work. As today's chart (via David Rosenberg) demonstrates, a staggering proportion of American personal ...Read More »

New York-Based Firm and Brokers Charged With Fraudulent Sales of Variable Annuities

{ Posted on Jun 30 2009 by SEC.gov Updates: Press Releases }
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The Securities and Exchange Commission today instituted an enforcement action against a Poughkeepsie, N.Y.-based firm and several representatives and supervisors for their alleged roles in fraudulent and unsuitable sales of variable annuities to senior citizens who were ...Read More »

Stocks Tank After Crappy Consumer Confidence Numbers

{ Posted on Jun 30 2009 by Joe Weisenthal }
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The market's trading has been boring and listless of late, despite expectations for end-of-the-quarter window dressing and other games. But after rising a bit early on, stocks are now getting slammed following news that the consumer, after taking some Prozac last ...Read More »

CBO: Long Term Budget Outlook Part 3-Yes it is the Medicare/Medicaid

{ Posted on Jun 30 2009 by Bruce Webb }
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GE Capital Will Get To BUY Toxic Assets Through PPIP

{ Posted on Jun 30 2009 by Joe Weisenthal }
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Sheila Bair made sure that the banks wouldn't be able to logroll the taxpayers, and by the same toxic assets they were selling through PPIP. But look who gets to be a buyer... CNBC: The program is likely to include as many ...Read More »

Why Everyone Else Is Taking This Week Off

{ Posted on Jun 30 2009 by John Carney }
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Look around your office. Notice anything? That's right, you're one of the few people who decided to keep working this week. It's not just your imagination. Trading on the New York Stock Exchange has been lighter than any time since ...Read More »

Geithner’s Zombie Program To Buy Toxic Assets Will Rise Again Tomorrow

{ Posted on Jun 30 2009 by John Carney }
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Speaking of continuity with the Bush Administration, the Obama administration's plan to buy toxic assets from banks will be back in the headlines tomorrow. It seems that details of how the plan will be implemented and who will participate in ...Read More »

America: You Are Michael Jackson

{ Posted on Jun 30 2009 by Joe Weisenthal }
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Plenty of folks have written how the late Michael Jackson -- wildly rich and wildly in debt at the same time -- was the perfect symbol of America. But nobody nails it like James Howard Kunstler, from his post The Man ...Read More »
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