Jobless Claims Rising At Alarming Rate Unemployment is the highest since 1982, a record high! Employers had to let go of about 625,000 workers in the last week of January 2009. In the last 4 weeks, on average, approximately 580,000 people have lost their jobs per week; a staggeringly high number. Maybe The Beginning Of [...]
Where Is The Bailout Money Going?
March 27, 2009 By Leave a Comment
The Great American Bailout: Many Questions, No Answers Federal Reserve Chairman Ben Bernanke fielded questions from Senator Bernie Sanders regarding which banks received Federal loans as part of the great 2008 Bailout. There do not appear to be any satisfactory answers from Mr. Bernanke on this issue. Interesting… Bloomberg News’ inquiry into this same matter [...]
2009 $75 Billion Housing Package
March 25, 2009 By Leave a Comment
Strong Program For Weak Housing Market The Federal government on March 5, 2009 introduced a $75 Billion refinance and loan modification program for stressed homeowners across the United States. The government will basically financially support interest rate reductions to make monthly note payments more affordable for up to 9 million borrowers. That’s a lot of [...]
More Bank Failures On The Way
March 23, 2009 By Leave a Comment
Bank Failures Set To Accelerate Just in the first 60 days of the year 2009, Federal regulators have taken control of 14 banks, and the signs are this number will likely rise significantly by the year end. Compare this to last year when 25 banks failed the most notables being Washington Mutual and the large [...]