Sunday, December 5, 2010

Simon Johnson, one of the Authors of 13 Bankers, reflects on Euro woes as China's opportunity ..

Open Me

This gem from inside:

"In fact, the Irish leadership has every incentive to delay until other countries can be dragged into turmoil. The crisis will become euro-zone wide, at which point all eyes will turn to some combination of the European Central Bank, the German taxpayer, and the IMF." (emphasis added).

Scared yet?  Once this occurs, keep your eye on the impending bond problems in California, Illinois, and New York, among other states.

Wednesday, December 1, 2010

Federal Reserve Opens its Books on the $9 TRILLION in loans given to Wall Street during the crisis - yes, $9 TRILLION

All the scary goodness is being reported HERE
$9 TRILLION -- that is $9,000,000,000,000 in loans (at .5% interest) given to the banks and others (McDonalds?? Harley Davidson??).

One has to wonder, with $9 trillion in loans to the banks, backed by $9.5 trillion on junk securities (i.e. its worth closer to $0, NOT $9.5 trillion), how is the Federal Reserve going to get out of this mess ..... this is not good.

Mass. County Recorder Challenging MERS - did it illegally avoid paying millions in recording fees?

Click me to read all about it