Tag Archives: Reuters

Whitehead: “Worse than the Depression”

11/12/2008 04:40:00 PM
Upping the ante on JPMorgan’s CEO Dimon and Merrill’s CEO Thain (see previous post), former Goldman Sachs chairman John Whitehead is quoted as saying the current slump will be worse than the Great Depression!
From Reuters: Whitehead sees slump worse than Depression (hat tip Rex Nutting)
The economy faces a slump deeper [...]

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AIG asking for more; The banks all want more 100’s of billion more.

GM needs 75 billion more this year. AIG wants who knows what next. The banks all want more 100’s of billion more. The other insurers want bailout money. The major home builders want bailout money. This is insane.
SAN FRANCISCO (MarketWatch) — American International Group Inc. reportedly is seeking a new bailout from the U.S. government [...]

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GM and F, two bankrupt small caps, will be kicked out of the Dow soon.

The funny thing about this is, by kicking out all the companies I recommended they kick out a year ago (AIG, GM, F, C, BAC) AFTER they drop to near zero, they keep the Dow vulnerable to further losses. It becomes a rotating equity flushing vortex.
Also more layoffs coming on the way…
Automaker failure could [...]

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White House Advisor: Parts Of US In Recession - Reuters

DOW JONES NEWSWIRES
U.S. President George W. Bush’s top economic advisor said parts of the nation seem to be in recession, Reuters reported on its Web site Sunday. Edward Lazear, chairman of the president’s Council of Economic Advisors, said “We are seeing what anyone would characterize as a recession in some parts of the country,” [...]

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Ron Paul: Bailout means we’ll all suffer

On bailout: “It’s an immoral system. You’re asking the poor people to bail out the rich”
In time, we’re all going to suffer from bailout with higher prices, congressman says
If creating more money was the solution, nobody would ever have to work, he says
U.S. Rep. Ron Paul, who has been an opponent of the government’s bailout [...]

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