The yield on 10-year Greek bonds blasted upwards by over 40 basis points to 7.15pc in a day of wild trading. Spreads over German Bunds reached almost four percentage points, by far the highest since Greece joined the euro, and close to levels that risk a self-feeding spiral. Contagion hit Portuguese, Spanish, Irish, and ItalianContinue reading “Funds flee Greece as Germany warns of “fatal” eurozone crisis – Telegraph”
Category Archives: The Market
Secret Banking Cabal Emerges From AIG Shadows
Hot potato! If you don’t stop reading out of anger, this is actually a very good synopsis of what’s gone down — in broad strokes — and why you’re going to want to pick up one of these. Seriously, that this comes out late on a Friday should only reinforce the significance of this revelation.Continue reading “Secret Banking Cabal Emerges From AIG Shadows”
What Happens When Banks Foreclose on Commercial Properties?
In Downtown Los Angeles, at least eight residential projects and one hotel have fallen into bankruptcy. Some of those projects, along with others in the area, have also faced foreclosure — an equally complex process with just as many possible endings. via Los Angeles Downtown News and Information – LA Downtown News Online > NewsContinue reading “What Happens When Banks Foreclose on Commercial Properties?”
The Growing Underclass: Jobs Gone Forever – Economix Blog – NYTimes.com
As a recent Congressional Budget Office report put it, “Recessions often accelerate the demise or shrinkage of less efficient and less profitable firms, especially those in declining industries and sectors.” via The Growing Underclass: Jobs Gone Forever – Economix Blog – NYTimes.com.
Elizabeth Warren on The Daily Show
Elizabeth Warren was on The Daily Show again last night. The discussion was short but pertinent. Her day job is Leo Gottlieb (IDK what that means) Professor of Law at Harvard Law School, but right now she is the chair of the Congressional Oversight Panel created to investigate the U.S. banking bailout (aka TARP). http://media.mtvnservices.com/mgid:cms:item:comedycentral.com:262695
QuantumTom 