Thursday, August 12, 2010

Barker's Newsbites: Thursday, August 12, 2010


What ever happened to HAPPY music?!
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3 comments:

William R. Barker said...

http://apnews.myway.com/article/20100812/D9HHSM180.html

The $700 billion U.S. bailout program launched in response to the global economic meltdown had a far greater impact overseas than other countries' financial rescue plans did on the U.S., according to a new report from a congressional watchdog.

Billions of dollars in U.S. rescue funds wound up in big banks in France, Germany and other nations.

[T]he report says that if the U.S. had gotten more data on which foreign banks would benefit the most, the government might have been able to ask those countries to share some of the cost. "There were no data about where this money was going," panel chair Elizabeth Warren said in a conference call with reporters on Wednesday. "The American people have a right to know where the money went."

* NO DATA ABOUT WHERE THE MONEY WAS GOING... (*HEADACHE*)

* YEP. THAT SOUNDS LIKE THE U.S. GOVERNMENT IN ACTION.

Major French and German banks were among the biggest beneficiaries of the U.S. rescue of American International Group Inc., yet the American government shouldered the entire $70 billion risk of pumping capital into the crippled insurance titan.

* HEY... THE INTERNATIONAL OLIGARCHS HAVE TO STICK TOGETHER, RIGHT? (*SMIRK*)

Much of the $182 billion in federal aid to AIG - the biggest of the government rescues - went to meet the company's obligations to its Wall Street trading partners on credit default swaps, a form of insurance against default of securities. The partners included French banks Societe Generale, which received $11.9 billion in AIG money, and BNP Paribas, which got $4.9 billion, and Germany's Deutsche Bank, $11.8 billion.

Of the 87 banks and financial entities that indirectly benefited from the U.S. aid to AIG, 43 are foreign, according to the report. In addition to France and Germany, they include banks based in Canada, Britain and Switzerland.

* NICE... (*SNICKER*)

August 12, 2010 at 8:38 AM
William R. Barker said...

http://finance.yahoo.com/news/New-claims-for-unemployment-apf-3180551258.html?x=0&.v=1

The employment picture is looking bleaker as applications for jobless benefits rose last week to the highest level in almost six months.

It's a sign that hiring is weak and employers are still cutting their staffs.

First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday.

Analysts had expected a drop.

(*ROLLING MY EYES*)

Initial claims have now risen in three of the last four weeks...

(*SIGH*)

The jobless claims report "represents a very adverse turn in the labor market, threatening income growth and consumer spending," Pierre Ellis, an economist at Decision Economics, wrote in a note to clients.

* YA THINK...?!

Medical products manufacturer CareFusion Corp. said Wednesday it plans to eliminate 700 jobs...

(*SARCASTIC CLAP-CLAP-CLAP*)

* OH, YEAH... THE OBAMACARE "REFORMS" ARE A GIFT THAT JUST KEEPS ON GIVING...

(*SIGH*)

August 12, 2010 at 9:55 AM
William R. Barker said...

http://www.facebook.com/photo.php?pid=6894887&id=361997510504&comments

* O.K. SOMETIMES I DO MISS THE SON OF A BITCH...

(*WRY BUT SINCERE SMILE*)

* CHECK OUT PHOTO #8 AS WELL.

August 12, 2010 at 6:34 PM

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