Finance
Question for the Recession, What Jobs?
Monday, July 26th, 2010Cited: Newsweek
The economy added just 83,000 new private sector jobs in June according to job numbers released July 2. This has added new fuel to the already heated debate over what the government should do to help unemployed Americans.
Exhibit A: David Brooks, the great moderate hope, attacks the subject in a New York Times column [...]
Is Goldman Sachs Mortal after All?
Monday, July 26th, 2010Cited: Reuters
It seems that Goldman Sachs could be mortal after all after confirming on July 20 that their quarterly earnings had fallen drastically by 82%. That is much more than the analysts had predicted. Questions were raised about whether the firm could still outsmart its competition because of a trading and underwriting slump to put [...]
Postage Going up Again?
Friday, July 23rd, 2010Cited: AP
In January, citizens may be looking at a $.46 stamp. The post office is asking for an increase of the price of a stamp $.02. Due to the bad economy and e-mail, the post office has experienced massive losses and declining mail volume as it faces a financial crisis.
Postal officials announced a wide-ranging series [...]
New Bill to Regulate Credit Rating Agencies
Tuesday, July 6th, 2010Cited: AP
Pre-economic crisis, credit rating agencies judged investments backed by mortgages to be a safe investment. Surging home prices led investors to invest trillions of dollars into something that was not safe because the investments backed by the riskiest mortgages. Then the agencies downgraded those by the billions and it helped trigger a financial crisis.
The [...]
Budget Balanced in California by Senate
Tuesday, August 25th, 2009Cited: Associated Press
At the end of July, California State Senate finally approved a plan to close its $26 billion budget deficit after weeks of fiscal gloom there is a glimmer of hope. This budget was a complex package of 31 bills had been debated by the Assembly who was struggling to secure enough votes to [...]