Obama’s plan is trickle-up economics. Create a huge government infrastructure spending bill (similar to the WPA during the depression) in hopes that it will stimulate job growth however, the blue state jobs that will be created will go to half, if not more, of the 30 million illegal alien population which in turn will send [...]
Great Depression happened in 1929. It took over 10 years to cure.
Effects of depression:
13 million people became unemployed.
Industrial production fell by nearly 45% between the years 1929 and 1932.
Home-building dropped by 80% between the years 1929 and 1932.
From the years 1929 to 1932, about 5000 banks went out of business.
That’s where when the buyer [...]
NEW YORK (AP) — How could a $24 billion loss possibly be good news? When it comes from Wachovia as an effort to primp itself for its acquisition by Wells Fargo.
Wachovia Corp.’s staggering loss for the third quarter resulted primarily because it wrote down the value of intangible assets by almost $19 billion and built [...]
FDIC chief calls for more investment-bank oversight
By Greg Morcroft, MarketWatch
Last Update: 6/18/2008 2:03:00 PM
NEW YORK (MarketWatch) — Amplifying on the discussion about increasing oversight
of the global financial system, one of America’s top banking regulators called
for more restrictions on risk, liquidity and capital at investment banks.
“It makes sense to extend some form of greater prudential regulation [...]
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