The hard-right conservatives who dominate the Republican Party claim to despise the redistribution of wealth, but secretly they love it — as long as the process involves depriving the poor and middle class to benefit the rich, not the other way around. That is precisely what has been happening, as a jaw-dropping new report by […]
The Path Not Taken
10/27/2011 by
Financial markets are cheering the deal that emerged from Brussels early Thursday morning. Indeed, relative to what could have happened — an acrimonious failure to agree on anything — the fact that European leaders agreed on something, however vague the details and however inadequate it may prove, is a positive development. But it’s worth stepping […]
Diamondback & Grand Jury Subpoena
11/30/2010 by
Diamondback Hedge Fund Gets U.S. Grand Jury Subpoena Bloomberg | by: Saijel Kishan and Patricia Hurtado Diamondback Capital Management LLC, one of three hedge funds raided by the FBI last week, said it received a federal grand jury subpoena and is cooperating in a U.S. probe that it said includes research consultants. The firm, based […]
Fed’s Other Asset-Buying Effort
11/28/2010 by
Don’t Forget About the Fed’s Other Asset-Buying Effort Atlantic.com | by: Daniel Indiviglio In early November, the Federal Reserve Open Market Committee (FOMC) decided to begin a new program to buy $600 billion in longer-term Treasury securities. It would do so by purchasing $75 billion per month for eight months. But that isn’t the whole […]
Asian Stocks Decline
11/28/2010 by
Asian Stocks Pare Gain as Dollar Rises on Koreas, Ireland Aid By Shiyin Chen | Bloomberg.com Asian stocks pared gains and the dollar rose to a two-month high as escalating tensions in the Korean peninsula offset investor optimism over Ireland’s 85 billion-euro ($113 billion) bailout. The MSCI Asia Pacific Index was rose 0.1 percent to […]
GM says IPO grows to $23.1 billion
11/28/2010 by
By Alistair Barr, MarketWatch SAN FRANCISCO (MarketWatch) — General Motors Co. said Friday that its public offering grew to $23.1 billion after underwriters exercised their rights to buy a big chunk of the auto maker’s stock. GM (GM $33.80, +0.32, +0.96%) announced that the underwriters exercised in full their overallotment options to purchase an additional 71.7 […]
Cyber Monday Shopping
11/28/2010 by
Cyber Monday Kicks Off Online Season By Andria Cheng | NEW YORK (Dow Jones) –Preliminary results from the Black Friday weekend have pointed to a mostly positive start to the industry’s biggest selling period. The number of people who shopped stores and online between Thursday and Sunday jumped 8.7% to 212 million shoppers, according to […]
F.H.A. Rule Changes for Mortgage Borrowers
11/27/2010 by
HOME buyers with sketchy credit who are unable to qualify for conventional mortgages may now find it more costly and difficult to obtain loans insured by the Federal Housing Administration. New rules that went into effect this month adjust the two types of mortgage insurance paid by consumers for loans insured by the F.H.A., which […]
