Stockton, CA files for bankruptcy
The city of Stockton will file for Chapter 9 bankruptcy protection after it failed to find acceptable terms for restructuring its ballooning debt. In a 6-1 vote the city council…
Moody’s downgrades world’s banks
In 2011, a Congressional Report was released exposing those financial institutions responsible for the recession. The finger was pointed squarely at large investment banks as well as credit rating agencies…
FED to continue twist, without shout
The economic recovery has become even more sluggish, particularly in the labor market where hiring in both the private and public sectors has slowed to a near standstill. Weak job…
When it comes to smart investing, the lesson is bankers gamble big
The CEO of JPMorgan Chase continued his testimony before Congress today concerning the multi-billion trading loss that bank announced last month. Jamie Dimon testified before the House Committee on Financial…
Report shows American workers worse off from Great Recession
According to a report released today by the Economic Policy Institute American workers are worse off than they were a decade ago, with underemployed and underpaid workers struggling to makes…
Greece votes to stick with euro zone
After months of political turmoil, a slim majority of Greek citizens voted for the center-right New Democracy Party in a signal that Greece will stick with the euro zone in…
JP Morgan’s Dimon lies to Congress
Today marks the second day of testimony before Congress from JP Morgan’s CEO and chief financial officer Jamie Dimon regarding a multi-billion trading loss the bank recently disclosed to investors.…
Disturbing statistics on WI recall vote
$63.5 million: The minimum amount spent by both sides in the recall 70 percent: How much more expensive the governor’s recall election is than the state’s second-most expensive race (the…
Walker survives recall election by outspending his challenger 7-to-1
It’s another disappointing day for “free-and-fair” elections in America. In his bid to retain office, Gov. Scott Walker of Wisconsin outspent Democratic challenger Tom Barrett 7-to-1. Despite fallacious Republican rhetoric…