Houston to gain World Bank post
Posted by Xander in Headlines on 26. Nov, 2009 | No Comments
JENALIA MORENO
Houston Chronicle
November 26, 2009
Houston is on the world map — the World Bank map, that is.
The city was chosen as the site for a World Bank Group post that will open in January.
The bank provides loans, credits and grants to developing countries for investments in education, health, infrastructure, development and other projects across the [...]
Americans save more but earn less as rates fall
Posted by Xander in Headlines on 20. Nov, 2009 | No Comments
STEVENSON JACOBS
Associated Press
November 20, 2009
The U.S. is finally becoming a nation of savers. Now if only we could get something for our money.
Interest rates are sinking to near zero for the first time since last year’s financial meltdown, dampening spending as Americans earn less on their bank deposits and investment accounts.
It’s hardly encouraging news for [...]
Societe Generale tells clients how to prepare for potential ‘global collapse’
Posted by Xander in Headlines on 19. Nov, 2009 | No Comments
Ambrose Evans-Pritchard
Telegraph.co.uk
November 19, 2009
In a report entitled “Worst-case debt scenario”, the bank’s asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems.
Overall debt is still far too high [...]
US Govt Posted $94B Total Budget Deficit In June
Posted by Xander in Headlines on 13. Jul, 2009 | No Comments
Jeff Bater
DOW JONES NEWSWIRES
July 13, 2009
The fiscal year-to-date U.S. budget deficit broke past $1 trillion in June, a grim testament to the recession and financial crisis.
The federal government spent $94.32 billion more than it made in the ninth month of fiscal 2009, the Treasury Department said Monday in its monthly budget statement.
Aid to spur the [...]
Economist: FDIC gearing up for bank closures
Posted by Xander in Headlines on 08. Jul, 2009 | No Comments
Janet Leiser
Washington Business Journal
July 8, 2009
The Federal Deposit Insurance Corp. is gearing up to handle a large number of bank failures expected as a result of bad mortgages, both in residential and commercial real estate, an economist said Tuesday.
“They know they’re going to take down a large number of banks and they can’t do it [...]
Big Banks Don’t Want California’s IOUs
Posted by Xander in Headlines on 07. Jul, 2009 | No Comments
RYAN KNUTSON
Wall Street Journal
July 7, 2009
A group of the biggest U.S. banks said they would stop accepting California’s IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap.
The development is the latest twist in California’s struggle to deal with the effects of the recession. After state leaders failed to [...]