Ladies and gentlemen, Since Jan 2009, Obama and the Democratic Congress delivered only to one group thus far: Wall Street! The following is from the NY Times: Want a Big Raise? Get a Wall St. Job “Wall Street incomes are surging back. The government reported this week that the real wage and salary income of […]
For years I have been talking about the fraudulent practices at certain for-profit and publicly traded ‘universities.’ Finally the public is waking up to this naked truth. Last week, Apollo Group, parent company of The University of Phoenix has fessed up that enrollment were down due to the bad publicity. I would like to correct […]
Not even for a second think that the unfolding foreclosure-gate is a small problem. Last week a California family (Squatters, Danielle and Jim, reclaim their foreclosed home) which was foreclosed upon went back to their house that was already sold to another family, squat there and reclaimed the property. Their contention was that the bank […]
This news will make you wonder if there is any trust left in the banking system in USA. [AP Story Via yahoo] Michelle Conlin, AP Real Estate Writer, On Tuesday October 12, 2010, 9:21 pm EDT NEW YORK (AP) — In an effort to rush through thousands of home foreclosures since 2007, financial institutions and […]
Folks, Microslowsoft finally released that Windows 7 phone. Well its not a phone its an operating system platform. Just like the Android. HTC,LG,Samsung and Dell , yup that PC maker Dell are the first original device manufacturers (ODMs) for the Windows 7 phone. Customers get 7 phones at the release time which is Novemeber 2010. […]
On the Oct 8th show, I talked about the Foreclosure Gate and the rampant fraud committed by the banks in illegally foreclosing homes in the US. A company called Lender Processing Services is one of the firms that is at the center of this fraud. When it comes to economy, finance, federal reserve and banks, […]
Yesterday (Oct 8) on my TORi show I mentioned about the foreclosure-gate. Janet Tavakoli call it ‘the biggest fraud.’ She is one of the most trusted voices about financial markets and she dabbled in derivatives and she knows what she is talking about. Here are excerpts from an interview she gave to WaPo yesterday, which […]
His name is Jerome Kerviel. He was a trader at Societe Generale, a French bank which did speculative trading as its main business along with some conventional banking. The bank says Kerviel made bets of up to euro50 billion – more than the bank’s total market value – on futures contracts on three European equity […]
POMO stands for permanent open market operations by the US federal Reserve Board. With a POMO, the Fed buys the US Treasury debt and pumps liquidity into the system. The idea is that the money freed-up from holding US Government bonds will be put into use in boosting the spending and thereby the economy. In […]
Boston Globe features a photo essay (The Big Picture) on a number of huge and unfinished housing projects in Florida. My jaw dropped when I recognized the actual size of these projects and how much of this wasted investment is sitting on the balance sheets of many banks which passed ‘stress test.’ Seeing is believing.Take […]
This comes to you via UK’s Telegraph: Savers told to stop moaning and start spending Savers should stop complaining about poor returns and start spending to help the economy, a senior Bank of England official warned today. Older households could afford to suffer because they had benefited from previous property price rises, Charles Bean, the […]
This comes to you via Zero Hedge: First Griffiths dissects POMO: “One of the reasons [for the surge] is POMO: what happens is the Fed buys Treasurys off the banks, the banks put the money into the market…That amount of money turns the algorithms up, then all the algo trading hits the market. Real life […]
Good to see the progress in tablet market. Specifications and build looks appealing but common RIM do you really have to come up with an other OS? Why not get WebOS on this? To me the interface looks like mix of iPhone OS and WebOS.
I received an e-mail today about housing market: Please talk about your predictions about housing market (both for buyers and sellers)…. I said on the show that I will post an article that analyzed this better than I can ever do… Here it is. This very reliable information comes to you via Caseay Research: Should […]
Yes. Manufacturing in US is officially dead. Turn the lights of, literally! Washington Post: Light bulb factory closes; End of era for U.S. means more jobs overseas: By Peter Whoriskey Wednesday, September 8, 2010; 9:48 PM WINCHESTER, VA. – The last major GE factory making ordinary incandescent light bulbs in the United States is closing […]
