News

Magna wants to cut 10,500 jobs: report I guarantee you the job cuts will be disproportionately outside Germany. Economic crisis not over yet: IMF chief But if you listened to Larry Summers you'd think we were out of the woods. It…

Three failed banks this weekend. The big one is Corus: assets of $7 billion. FDIC: Failed Bank Information - Bank Closing Information for Venture Bank, Lacey, WA "As of July 28, 2009, Venture Bank had total assets of $970 million…

Follow the money - BBC News "Find out how the money was spent and what it means for the taxpayers who have funded it" To the victors, the spoils: a post-Lehman scorecard | Reuters A year after their high-speed takeovers,…

Faber Says ‘High’ U.S. Deficit Will Spur Inflation - Bloomberg.com He is making the asset price inflation argument I have often made. On the other hand, I am seeing some initial signs that liquidity is being drained. So, it remains to…

Below are the links for today, but I wanted to highlight the distraction of the day, which is Curtis Jackson III aka 50 Cent, who was interviewed on CNBC yesterday. Enjoy. This Keen professor overlooked by MSM Steve keen deserves…

Wall Street Plans On Securitizing Life Insurance Policies | But Then What Those lovable Wall Street ghouls have cooked up a new asset class to securitize — life insurance policies. I am not kidding you, they’re going into the business…

There Is Another Shoe To Drop In The Global Economic and Financial Crisis - And The Focus Will Be On Europe’s Perifery | Edward Hugh A number of countries in Eastern Europe immediately come to mind - not only the Baltics, but also Russia,…

iPhone makes worldwide loss, says report While Orange and T-Mobile compete with O2 to sell the iPhone in Britain, a report by Denmark's Strand Consult reveals how it makes a loss for providers and struggles against other phones…

Troubles For 'Prime' Borrowers Intensify - WSJ.com The mortgage-delinquency rate among so-called subprime borrowers reached 25% in the first quarter but appears to be leveling off, rising only slightly in the second quarter. The pace of…

Putting the ‘change’ back in “change you can believe in”: The two faces of Barack Obama – Marshall Auerback Is this the Warren Christopher Presidency writ large? Roosevelt Institute Braintruster Marshall Auerback argues that the…