Thursday, 21 October 2010


French police open blockaded depots: President orders forced reopening of fuel depots closed by workers striking over planned pensions overhaul.

Live blog: French strikes and protests: Strikes continue to cause widespread disruption in France the day after one million people took to the streets in protest at Sarkozy's pension reforms

UK announces 490,000 job cuts: Harshest austerity measures since second world war unveiled as public spending is slashed to deal with country's debts.

Stiglitz Says U.S. Unemployment Is Likely to Increase: Video: Nobel Prize-winning economist and Columbia University Professor Joseph Stiglitz discusses the outlook for the U.S. economy.

The Real Underemployment Figure Is 22.5%: Ever get the feeling that things are a lot worse than everyone is letting on?

Is the US system rigged for the rich?: The top 20 percent of wealth-holders own 84 percent of America's wealth. What's causing it? One factor is federal policy, says a study by the Corporation for Enterprise Development (CFED)

Wells Fargo Reports Record Profits: Wells Fargo & Co., the largest U.S. home lender, reported record third-quarter profit that beat most analysts’ estimates as credit conditions improved, and said it’s not planning to halt foreclosures.

Bank Balance Sheets Full of Rotten Stuff:: Jim Rogers: Balance sheets at banks are "full of rotten stuff," they still need to sort out their "gigantic" problems and their stocks will be in a trading range over the next five to six years, Rogers predicted.

Fraud Task Force Pursues Criminal Investigation of Mortgage Servicers: Allegations that some of the nation's largest mortgage servicers cut corners in processing foreclosures and filed unsubstantiated paperwork could turn criminal.

Will Bankers go to Jail for Foreclosure-gate?: So who is likely to go to jail? Obviously the first candidates are the robo-signers who were putting their names to documents that attested they had reviewed the loans documents when they hadn't. But here's the problem with just putting those people in jail.