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Posts Tagged ‘Financial’

Elizabeth Warren answers your questions on the Consumer Financial Protection Bureau, a watchdog for the American consumer, charged with enforcing the toughest financial protections in history. October 12, 2010.

Construction causes financial loss
By: Andre Eggert St. Paul streets are torn up, utility lines are being relocated and men in hardhats outnumber pedestrians. Construction on the Central Corridor Light- Rail line began in St. Paul’s Lowertown neighborhood last year, and businesses are feeling the impact. Now, the city of St. Paul wants to help by offering each Lowertown business up to $10,000 in temporary loans. It has a total of …

Read more on The Minnesota Daily

Financial Reform’s Unintended Consequences
Banking analyst Richard Bove says that the financial reform bill is creating the problems it was hoping to fix.

Read more on Forbes

Kennedy Wilson teams up with Fairfax Financial
Kennedy Wilson said Wednesday it formed a $278 million partnership with Fairfax Financial Holdings Ltd. to buy property and real estate loans.

Read more on AP via Yahoo! Finance

Pakistan is asking for international loans of more than $9bn in the hopes of fending off a balance of payments crisis. It’s deficit has almost doubled in 2008 to nearly $6bn. All of this has left many people struggling to feed their families, and as Al Jazeera’s Imran Khan reports, it has driven some people to take a desperate step.

How the financial market work

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The financial reform bill currently working its way toward President Barack Obama’s desk for signing is being touted as the biggest overhaul of the banking and investment sectors since the Great Depression. But the new regs won’t be any more effective than the ones they replace in fixing anything or preventing the next major panic for at least three reasons. 1. New Watchdog, Old Tricks They create a new watchdog consumer agency designed to protect consumers from their own supposed stupidity. You’ll now be facing fewer choices when it comes to getting credit cards, loans, and other basic financial transactions. 2. Never Too Big To Fail They replace “Too Big to Fail” with… “Too Big to Fail.” One of the reasons why major financial institutions played Russian Roulette with the economy was because they were betting they would get bailed out. Which is precisely what happened. The new rules codify the idea that the government will make sure certain institutions can never fail. And if you think the big boys won’t game that system, then you don’t understand how well Citigroup, Goldman Sachs, et al have come through the current meltdown. 3. Housing Bubble Trouble The financial crisis was set into motion by government policies that encouraged people to buy homes they couldn’t afford at prices that were unsustainable. Between desperate attempts to keep people in houses and to keep interest rates below an effective rate of zero, the government continues to pour more money down the …

Louis talks about the recession and the fucked economy. He also describes the man-made shortage of diamonds under the De Beers’ controlled supply. Louis later mentions the episode “The Giant Pool of Money” from This American Life on NPR, which you can listen to here: www.thisamericanlife.org Part 1 of 3.

The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis — starting in 2002 (and actually even earlier — in the Clinton and Carter White Houses. Democrats resisted and kept to their party line, extending loans to people who couldn’t afford them — just like you would expect of socialists. See our web site for more. — www.ProudToBeCanadian.ca http — www.proudtobecanadian.ca