TODAY’S MARKETS MAY 6, 2010, 3:05 P.M. ET Dow Falls in High-Speed Drop By PETER A. MCKAY Stocks plummeted in a flashback to the panicked trading of 2008. Investors fled everything from stocks and risky bonds and poured money into safe assets such as U.S. Treasurys. Stocks began the day in negative territory but took […]
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EDITORIAL: Government Motors repayment fraud The bankrupt automaker still isn’t firing on all cylinders By THE WASHINGTON TIMES General Motors lost $3.4 billion in the fourth quarter of 2009 and is still struggling to reorganize so the company can try to eke out a profit. This grim reality didn’t stop GM from making hay last
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MAY 5, 2010 Los Angeles on the Brink of Bankruptcy By RICHARD RIORDAN AND ALEXANDER RUBALCAVA Los Angeles is facing a terminal fiscal crisis: Between now and 2014 the city will likely declare bankruptcy. Yet Mayor Antonio Villaraigosa and the City Council have been either unable or unwilling to face this fact. According to the
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Wall Street Journal MAY 4, 2010 What About Fan and Fred Reform? By ROBERT G. WILMERS Congress may be making progress crafting new regulations for the financial-services industry, but it has yet to begin reforming two institutions that played a key role in the 2008 credit crisis—Fannie Mae and Freddie Mac. We cannot reform these
Whose Reining in Fannie and Freddie? Read More »
The New Fat Cats The indefensible pensions of public-sector employees. BY Fred Barnes May 3, 2010, Vol. 15, No. 31 John Edwards was right. There are two Americas, just not his two (the rich and powerful versus everyone else). The real divide today is, on one side, the 20 million people who work for state
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Associated Press – May 01, 2010 Rioters clash with police at Athens rally as anger mounts over expected harsh austerity plan ATHENS, Greece ATHENS, Greece (AP) — Hundreds of youths rioted in Athens on Saturday, throwing Molotov cocktails and stones at police who responded with tear gas at a May Day rally against austerity measures
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APRIL 28, 2010 Senators vs. Goldman The committee members fumble toward finding the real villains. If an investor buys shares in General Electric, and then GE’s stock declines in the future, is the New York Stock Exchange to blame? What if the investor chooses to purchase the shares through TD Ameritrade or Charles Schwab? Is
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Thursday, April 8, 2010 Greenspan deflects blame for crisis Patrice Hill Former Federal Reserve Chairman Alan Greenspan on Wednesday testified that mortgage giants Fannie Mae and Freddie Mac played a critical role in fostering an explosion of growth in the subprime-mortgage market that led to the global financial crisis. In his first appearance officially defending
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