Bailout and Financial Crisis News

The Obama administration is considering a Maryland regulator awarded “Consumer Advocate of the Year” and a Massachusetts economics professor known for his Social Security expertise to join Janet Yellen as nominees to the Federal Reserve Board. Yellen, president of the Federal Reserve Bank of San Francisco, is on the administration’s short list to replace Federal Reserve [...]

Washington is patting itself on the back for having orchestrated an amazing economic recovery. But Washington lawmakers are a delusional bunch of boneheads, say Marc Faber and Mike “Mish” Shedlock, editor of the Gloom, Boom, and Doom Report and investment advisor at SitkaPacific Capital Management, respectively. The economy is NOT recovering, they say, and the U.S. [...]

This speech is taken from the Senator’s remarks on the floor on March 10. “The American people are looking at what’s going on in Washington right now and they’re wondering what the White House and Democrat leaders in Congress are thinking. “The fact that we’re still even talking about a health care bill that raises costs, increases [...]

The economic news continues to come in mixed. Consumer confidence is in the toilet. Inflation is tame. Sales increased. Unemployment was better than expected. But businesses are becoming fearful again. Here’s the AP’s report on the latest Commerce Department numbers WASHINGTON (AP) — Businesses trimmed inventories at the wholesale level again in January even though sales rose [...]

The California Highway Patrol released the 911 call for the latest Toyota to allegedly zoom out of control.  Still sounds fishy to us.  If pressing hard on the brakes and turning off the engine worked, why did it take 23 minutes and a cop with a bullhorn to figure that out? By ELLIOT SPAGAT, Associated Press [...]

The latest readings from consumers and small business owners indicate economic sentiment isn’t improving, despite signs of a factory rebound and less gloom on the labor front. On Tuesday, the National Federation of Independent Business said its optimism index for small business owners fell back in February to its December reading of 88.0, and the IBD/TIPP [...]

Senate candidate and investor Peter Schiff will now be a regular on CNBC. He sent out a note last night saying the Fast Money crew had invited him to be on twice a week. As such, he’s calling on everyone to watch CNBC again, and boost the networks ratings: — Due to your support and viewership, CNBC’s Fast [...]

Via Bruce Bartlett, I introduce you to the next Senator from the great state of New York, David Malpass. Dear Friends and Colleagues, As many of you know, I believe strongly in our country’s future, but have been dismayed at the decisions Washington has been making and their impact on New York state. The problems [...]

The Financial Times reports: Big bank oversight to stay with Fed Chris Dodd … is set to propose this week that the 23 largest institutions stay under the Fed’s oversight … At issue … was the regulation of several hundred state chartered institutions that also want to remain under the Fed’s supervision.…“The Fed feels it is [...]

1) Robin Wigglesworth: Moody’s downgrades Abu Dhabi companies: Moody’s downgraded government groups in oil-rich Abu Dhabi on Thursday, after reviewing state-linked entities following neighbouring Dubai’s $22bn debt restructuring. The troubles at Dubai World, the debt-laden conglomerate owned by Abu Dhabi’s northern neighbour, has rattled financial markets and led many people to question the level of government [...]

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