AIG Told U.S. Failure May Cripple Banks, Money Funds: American International Group Inc. appealed for its fourth U.S. rescue by telling regulators the company’s collapse could cripple money-market funds, force European banks to raise capital, cause competing life insurers to fail and wipe out the taxpayers’ stake in the firm.
HSBC plunges over 24 percent to near 14-year low: Shares of Europe's biggest lender fell 24.1 percent to close at 33 Hong Kong dollars, its lowest close since August 1995, according to analysts.
Plunging assets cost $50,000bn : Falls in the value of financial assets worldwide might have reached more than $50,000bn, equivalent to a year’s global economic output, the Asian Development Bank will warn on Monday.
UK: Mortgage lending sinks 43% in January: The number of mortgages approved rose slightly during January but lending levels were still 43 per cent lower than in the same month a year ago, figures indicate today.
Dow Could Hit 4,000: Video: Even though the Dow appears oversold and could rally back to around 7,400, investors should consider limiting their exposure to equities, according to Stockmarket Cycles' Peter Eliades. Stacey Delo reports.
Scandal at Treasury: Official Quits Amidst Fraud Scandal: Darrel Dochow Allowed IndyMac Bank to Cook Its Books, Investigators Say
What does one TRILLION dollars look like?: A packet of one hundred $100 bills is less than 1/2" thick and contains $10,000. Fits in your pocket easily and is more than enough for week or two of shamefully decadent fun.
Despite a Crashing Economy, Private Prison Firm Turns a Handsome Profit: While the nation’s economy flounders, business is booming for The GEO Group Inc., a private prison firm that is paid millions by the U.S. government to detain undocumented immigrants and other federal inmates.
Gun Makers and Retailers Post Strong Sales Increases: . Smith & Wesson is reporting pistol sales up 40%, and Sturm, Ruger & Co. reported an 81% increase in firearm revenue.
508 Chicago kids shot in just 16 months: In this school year alone, 25 Chicago Public Schools children have been murdered.
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