Just In Case You Think Greece Is Saved!

It took the charming three tries for Greece to get its third “bailout”, which incidentally does not bail out anyone except the hedge funds who went long GGBs because the only actual winners resulting from yesterday’s transaction – those benefiting from Europe’s AAA club fund flows are hedge funds as explained previously. As for Greece, […]

Bailout Money – Instead of Being Used to Stabilize the Economy or Even the Bailed-Out Companies – is Just Going to Line the Pockets of the Wealthy

The bailout money is just going to line the pockets of the wealthy, instead of helping to stabilize the economy or even the companies receiving the bailouts: Bailout money is being used to subsidize companies run by horrible business men, allowing the bankers to receive fat bonuses, to redecorate their offices, and to buy gold […]

Former Countrywide executives cash in on federal housing bailout

After overseeing a company at the very center of the still-imploding U.S. mortgage market, a dozen former executives are now poised to make millions from the housing crisis. Stanford L. Kurland, the former president of Countrywide Financial the bank that has become most synonymous with the bad mortgage lending practices that eventually caused the housing […]

Stern warning from China’s central bank

The risks of an economic downturn in China are growing and protectionist sentiment abroad could hurt global growth, the country’s central bank said overnight. “The impact of the international financial crisis is intensifying, and the uncertainty of the domestic economy is increasing. The risk of an economic slowdown is expanding,” the People’s Bank of China […]