Stress Test Causes Stress
Washington, DC — An inside source has said that Bank Of America is likely to need an additional $34 billion. This comes after their CEO, Kenneth Lewis, said, “We absolutely don’t think we need additional capital.”
The stress test is a U.S.A. government plan to examine the health of banks. The results expected to be [...]
Bailout? What Bailout?
Washington, DC — There is a misplaced belief that the US government is bailing out big business and financial institutions; however, bailing out is probably not a good way to describe the arrangement.
Many of the small and medium sized banks did not want to take Troubled Asset Relief Program (TARP) money. At the time, [...]
Oboma Budget Bad Business
The world has been waking up and raising a voice against President Oboma’s budget and stimulus plans. How can you spend, spend, spend money you don’t have? Who will pay back the debt?
The European Union has taken a stance against the massive amount of spending. The head of the EU, Czech Prime [...]
Bank Failures Increase Worldwide
by widgette.com
Bank failures continue to escalate over the face of the globe. Four more US banks were closed by regulators in Nebraska, Florida, Illinois and Oregon.
In the UK, Lloyds is already 43.5% government owned after having to seek assistance last fall. Now, they face $14.2 billion loss. At the same time, they [...]