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Posts marcados ‘CRISIS’

ECONOMY – BANKRUPTCIES (BY RICK PULITO)

More retail bankruptcies mean more worthless gift cards…

This week’s announcement of bankruptcy by Borders Book Stores is another in an ever-growing list of retailers who have left consumers holding the bag, or more appropriately an empty bag, as their gift cards will be rendered worthless.

What surprised me is the depth and breadth of retail organizations that are either on their way out or likely to fail in the next twelve months. An article on the investment site www.investinganswers.com this month lists more than twenty large, nationwide retail companies that are at an elevated risk of failure. The assortment includes such gift-card staples as Macy’s, Cabela’s, RiteAid, Zales Jewelers, Talbots, and seventeen more. I have reprinted the graphic from their article below. (mais…)

TRAGÉDIA GREGA

Gasto olímpico grego ilustra a perda de controle das finanças 

 


A realização das Olimpíadas de 2004 foi determinante para a crise da Grécia? Quando se imagina que hoje cada cidadão grego tem uma parcela de aproximadamente US$ 45 mil na dívida do país, é quase inevitável especular o quanto que os gastos desenfreados para viabilizar os Jogos de Atenas ajudaram para cavar o buraco atual. E, apesar de a resposta para a pergunta inicial ser não, um exame da aventura olímpica dos gregos serve para ilustrar por que hoje o país está à porta da União Europeia e do FMI com o pires na mão. (mais…)

THE FIGHT CONTINUES (PROPUBLICA)

Bank Lobby Says ‘Fight Continues’ on Debit Card

Fees, Warns of ‘Dire Consequences’

by Marian Wang 

ProPublica

.(iStockphoto)

The banking industry stands to lose billions in debit card transaction fees after losing one of its biggest lobbying battles this year—but for the banks, that was just Round One.  (mais…)

GUERRA NA LIBIA

Câmara dos EUA rejeita resolução autorizando

ação militar na Líbia

Alessandra Corrêa

Da BBC Brasil em Washington

Líbios rezam diante de bandeira americana em Benghazi. AP

Republicanos dizem que Obama deveria ter consultado o Congresso antes de autorizar missão

Em uma decisão considerada simbólica, a Câmara dos Representantes (deputados federais) dos Estados Unidos rejeitou nesta sexta-feira uma resolução que dava autorização formal ao presidente Barack Obama para manter as ações militares americanas na Líbia. (mais…)

THE LYBIA’S WAR

Latest on Obama’s War Powers Act Workaround

by Marian Wang
ProPublica, Libya, A History: The Country, The Food, The Dictator

More evidence emerged this weekend that could inflame what’s become a growing controversy about the legitimacy of U.S. operations in Libya.  (mais…)

GREECE – FINANCIAL CRISIS (Real-agenda.com)

Bankers Order the Looting of Greece

According to Max Keiser, people of the kinds of Forbes are already in Greece to get its assets for pennies on the Euro. It is now clear the rest of the countries will come next. That is the plan.

Reuters

A restructuring of Greece’s 340 billion euro ($481.5 billion) debt is not on the agenda and would damage the country’s credibility on bond markets, the European Union’s internal markets commissioner said on Saturday.

Forcing Greece’s private creditors to take part in an upcoming aid package would count as a restructuring and is not being considered either, Michel Barnier told Europe 1 radio. (mais…)

Eye on Loan Modifications

Better Late Than Never? Gov’t Finally Penalizes

Major Banks for Mortgage Mod Failures

by Paul Kiel
ProPublica,

.Photo by Dan Nguyen/ProPublica

The Obama administration’s mortgage modification program is more than two years old. From the beginning, it’s been apparent that the participating banks and mortgage servicers were breaking the program’s rules. (mais…)

FRIENDSHIP WITH BAHRAIN

White House Makes Nice With Bahrain as

Detentions and Prosecutions Continue

by Marian Wang Manama - Bahrain World Trade Center WTC Royaume du Bahrein - Moyen Orient - Golfe Perique
ProPublica

As the Bahraini government continued its crackdown on largely Shiite pro-democracy groups, the Obama administration reaffirmed its friendship with Bahrain this week.  (mais…)

THE SECURITIZATION FAIL

About Those Notes…Evidence of Security

 by Adam Levitinmortgages_image

Since last October, shortly after the robosigning scandal broke, I’ve been talking until I turned blue in the face about robosigning being the tip of the iceberg with mortgage problems and that the real issue was chain of title. Robosigning appeared to be an almost unexpected deposition by-product; the real goal in the depositions that uncovered the robosigning was exposing the backdating of mortgage endorsement. And that they did–the notaries’ whose seals were on the documents didn’t have their commissions when the assignments supposedly took place.  (mais…)

The Wall Street Money Machine

From Dodd-Frank to Dud: How Financial Reform May Be Going Wrong

by Jesse Eisinger and Jake Bernstein
ProPublica

.

President Barack Obama signs the Dodd-Frank Wall Street Reform and Consumer Protection Act alongside members of Congress and his administration in Washington, D.C., on July 21, 2010. (Rod Lamkey Jr/AFP/Getty Images)

Early last year, as they weighed whether to bar banks from speculative trading with their own money, congressional staffers turned to a key regulator for advice. (mais…)

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