News

Bank of Lincolnwood in Illinois is FDIC casualty number 37 this year. It is not very big.  Below is the FDIC press release: Bank of Lincolnwood, Lincolnwood, Illinois, was closed today by the Illinois Department of Financial and…

Today vs. the 1980-82 Recession - Menzie Chin "While the job losses, foreclosures, stock declines and other casualties of the current recession have been very painful, substantially more bad economic news is needed to make this…

I am on the road, so posting will be a bit light today.  Expect a post on jobless claims at a minimum. Rosenberg's VooDoo Lounge Tour Continues - Tyler Durden Very good CNBC appearance by Rosenberg. This is a 0-minute piece in 3 parts.…

FT.com - Australia GDP rises 0.4% in first quarter "Australia has defied international trends to record a 0.4 per cent rise in gross domestic product for the first quarter compared to the same period last year, with economic growth…

Eerie Parallels Between Soviet Planned Economy and American Capitalism - Marshall Auerback Marshall writes over at the great new blog New Deal 2.0 that he does see some bad parallels between the U.S. and its capitalist system today and…

Welcome to June. Here are today's links. Susan Boyle, U.K. Talent Show Loser, Rushed to Clinic, Sun Says A break from the finance news for a little celebrity culture trivia: "Susan Boyle, who was runner-up in a U.K. television talent…

Marshall Auerback here with some thoughts on the UK given the recent stellar performance of Sterling. “The Conservative belief that there is some law of nature which prevents men from being employed, that it is ‘rash’ to employ men, and…

Anglo Irish gets aid from Dublin 4 billion euros is a lot of dosh. The Irish banking crisis is obviously not over. Eurozone inflation at record low - BBC News "Prices in the eurozone stopped rising in May - with the annual…

Meredith Whitney Offers Measured Hope To Brown Youth, Professes To Hate Coed Bathrooms - Dealbreaker When is Dartmouth going to put me on its cover? You know, I was all set to go to Brown too but the whole co-ed bathroom thing freaked…

Obama's Pick, From The Start - Marc Armbinder "The process ended where the President started. In November, a few days after he was elected President, Barack Obama convened some of his most trusted advisers in a private meeting for an…