Well it seems Citigroup has decided that even with the help of F.D.I.C. that it just did not want to take on even part of the bad loans/debt Wachovia had from its' earlier mergers. According to the NYTimes , Wells Fargo gets to have it all and create a $1.42 Trillion company stretching coast to coast.
Citigroup wants to sue Wells Fargo for $60 Billion for interfering, but may not be able to because: Read below the fold...
One of the saddest outcomes of the many cry-wolf hakas practiced throughout the campaign is the lost ability to rationally assume that what we're hearing from lefty blogs is accurate.
Just askin', 'cause it's under $3 a gallon in my hometown today.
Could there really be a de-flation cycle starting?
If so, how close are we to 10/29/29 well-and-truly screwed? Read below the fold...
Ah, where were "the authorities" back in January? I think we’d have a different democratic nominee if they’d been vigilant about this voter fraud thingy back then.
"And in Lake County, home to the long-depressed steel town of Gary, the bipartisan Elections Board has stopped processing a stack of about 5,000 applications delivered just before the October 6 registration deadline after the first 2,100 turned out to be phony.
"All the signatures looked exactly the same," Ruthann Hoagland, a Republican on the board. "Everything on the card filled out looks exactly the same." Read below the fold...
In April, the collected wealth of the country's top thousand multimillionaires totalled £412.8 billion [and the pound is worth something, these days], according to his calculations. “If current trends continue, we will be lucky to make £300 billion next time around,” Dr Beresford told The Times. “It is too early to be exact, but I estimate that at least one third will be wiped off the personal fortunes of the top 1,000 by next April.”
Barack Obama is buying a half-hour slot on television networks in prime time on Oct. 29, the anniversary of Black Tuesday of 1929, when panic in the stock markets set in ahead of the Great Depression.
Obama, leaving a campaign stop in a diner in Georgetown, Ohio, on Thursday evening, declined to say whether he planned to address the current economic crisis in the context of the depression.
is what, exactly, McCain's performance in this video really means.
On one hand, a guy who wants to be the most powerful leader in the free world lets some nutjob take over the microphone; on the other, a Senator who may or may not be for real is talking about the value of voting.
[I'm stickying this because, dammit, it seems unfoily to me, and everybody's assuming LIBOR is some sort of neutral measure. Takedown, anyone? -- lambert]
Bloomberg has an interesting article whose headline, if taken literally, puts shock doctrine right out into the open:
Libor Holds Central Banks Hostage as Credit Freezes?
So, what kind of administration can we expect from Obama?
I'm not sure, but below are a few speculative elements to consider (I reserve the right to be very wrong on these guesses, 'cause they're guesses). Please add to and/or debate this list. And if you have a more-powerful crystal ball than mine handy, tell us where you think this all leads: Read below the fold...
Now, of course, the sucky editors write the headlines, not the reporters, and the story itself is more nuanced -- it's about the end of American capitalism, not the end of capitalism in America, and as opposed to more regulated forms of capitalism -- but still. Read below the fold...
