Illinois Default Insurance Cost Rises as Weak States Punished: Muni Credit
Darrell Preston Bloomberg The cost of insuring Illinois’s bonds against default rose to the highest level in five months as the state headed for the…
Stock Market
$2tn debt crisis threatens to bring down 100 US cities
Overdrawn American cities could face financial collapse in 2011, defaulting on hundreds of billions of dollars of borrowings and derailing the US economic recovery. Nor…
Overstock accuses Banksters Goldman, Merrill of racketeering
Goldman Sachs Mafia Reuters Overstock says RICO charges apply in case Original lawsuit from 2007 alleges naked short selling (Adds Goldman, Bank of America comment)…
Investors told forget savings accounts, think of shares
Britain’s 38 million savers have been urged to invest their money in the stock market after being warned that for many of them it is…
Regulators exist to ‘serve the banks,’ next House finance chairman declares
Sahil Kapur Raw Story Alabama Republican Spencer Bachus, the incoming chairman of the House banking committee, suggested Congress and federal regulators should play a subservient…
Market alarm as US fails to control biggest debt in history
US Treasuries last week suffered their biggest two-day sell-off since the collapse of Lehman Brothers in September 2008. The borrowing costs of the government of…
10 reasons to shun stocks till banks crash
Commentary: Stocks a sucker bet in a rigged game; meltdown ahead Paul B. Farrell Market Watch SAN LUIS OBISPO, Calif — Do not buy stocks….
U.S. in Vast Insider Trading Probe
Susan Pulliam, Michael Rothfeld, Jenny Strasburg, Gregory Zuckerman Wall Street Journal Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants,…
Gold at $7800/oz, Or S&P 500 at 220? Take Your Pick
Seeking Alpha The chart below (to the right, Ed.) shows yet another way to look at the value of the stock market and gold in…
Baby Boomers: Get Out of the Stock Market Now, the Rug is Being Pulled Out By Insiders
CNBC reports insider selling-to-buying ratio for top firms is a staggering 3177 to 1 Eric Blair Activist Post If you’re a baby boomer who still believes…
70% of All Stock Market Trades Are Held for an Average of 11 SECONDS
Washington’s Blog The Fourteenth Banker writes today: In the stock market, program trading dominates volume. I heard recently that 70% of trade positions are held…
Big Banks, Hedge Funds Become Surrogate Tax Collectors
Youtube – HuffPostFund Wall Street titans have a new sweet spot — as surrogate tax collectors. They see profits in tacking on fees and threatening…
Mortgage Damage Spreads
Big Bank Stocks Hit Again as Modern Finance Collides With the Legal System Nick Timiraos, Jessica Silver-Greenberg, Dan Fitzpatrick Wall Street Journal The unfolding foreclosure-processing…
Bank of America Downgraded by Bond Market on Foreclosures: Credit Markets
Mary Childs Bloomberg Bondholders are penalizing Bank of America Corp. the most of any of the largest U.S. financial firms as the investigation into the…