Archive for the 'Wall Street' Category

ANP (WATCH): Congress Ignored Critical Bailout Oversight Provision—No Way to Follow the Money

By American News Project | Related entries in Bush, Business, Cartoons, Congress, D.C., Dodd, Dumb Things Said By Smart People, Economy, In The News, New York, Senate, United States, Video, Wall Street, WTF?

Hi, this is Danielle Ivory from the American News Project. My colleague, Lagan Sebert, and I just published a new video on the bailout and a lack of serious oversight. Today, Henry Paulson urged Congress to release the second half of the $700 billion of the bailout money. But no one seems know what banks […]

December 19th, 2008 | Permalink| No Comments »

Wall Street Veteran Arrested for $50 Billion Fraud Scheme

By Alan Stewart Carl | Related entries in Law, Wall Street

How do you make $50 billion disappear (other than by giving it to AIG)? Well, longtime investment manager Bernard Madoff has done just that. And now he’s under arrest. Madoff, the former chairman on the NASDAQ, is accused of running a Ponzi scheme with his hedge fund that has cost investors as much as $50 […]

December 12th, 2008 | Permalink| 5 Comments »

World Stock Markets Rally

By Alan Stewart Carl | Related entries in Economy, The World, Wall Street

The week has started well for world markets as stock exchanges across the globe have rallied or are rallying to post significant gains. The increases are attributed to the coordinated global efforts to unfreeze credit markets, particularly the European Union’s and the United Kingdom’s decisions to fully back bank accounts and infuse troubling banks with […]

October 13th, 2008 | Permalink| No Comments »

Is America Becoming a Banana Republic?

By Alan Stewart Carl | Related entries in Bush, Congress, Economy, Wall Street

Christopher Hitchens thinks so. It’s all about kleptocratic business leaders, weak-willed politicians and the complete absence of accountability for the empowered class. Just a taste: Now ask yourself another question. Has anybody resigned, from either the public or the private sectors (overlapping so lavishly as they now do)? Has anybody even offered to resign? Have […]

October 10th, 2008 | Permalink| No Comments »

Global Financial Troubles Worsen. Meeting Planned in Washington.

By Alan Stewart Carl | Related entries in Economy, The World, Wall Street

The global economic troubles worsened today as major markets around the world have fallen 6-10%. The situation has deteriorated to the point that the world’s financial ministers and central bankers will meet in Washington this weekend in an attempt to coordinate a global response. Unfortunately, no one really knows what will calm global markets. On […]

October 10th, 2008 | Permalink| 2 Comments »

Dow Falls Below 9,000

By Alan Stewart Carl | Related entries in Economy, News, Wall Street

Another bad day for Wall Street as the Dow lost 7% and fell below 9,000. Since a year ago today, the Dow has shed 39% of its value. It’s not pretty out there. Tweet

October 9th, 2008 | Permalink| 4 Comments »

$2 Trillion Lost from Retirement Accounts

By Alan Stewart Carl | Related entries in Economy, Wall Street

A few weeks ago I decided that I’m just going to throw away my next IRA statement without opening it. This is looking like a better and better idea. Apparently, American retirement plans have lost $2 trillion over the last 15 months. That’s 20 percent of their value. And that doesn’t include what people have […]

October 8th, 2008 | Permalink| 1 Comment »

Economic Troubles Continue

By Alan Stewart Carl | Related entries in Economy, The World, Wall Street

I suppose it would have been nice if the $700 billion bailout was the magic bullet needed to right our economic ship. But after today’s tumult on Wall Street, it’s pretty clear we’re not out the woods. At one point today, the Dow was down 800 points, but managed to close “just” 370 points down. […]

October 6th, 2008 | Permalink| 2 Comments »

Politics as Usual Played a Role in Bailout Bill Failure

By Alan Stewart Carl | Related entries in Congress, Economy, Wall Street

Here’s an interesting fact pulled from the AP about the bailout bill’s failure: Thirteen of the 19 most vulnerable Republicans and Democrats in an Associated Press analysis voted against the bill despite the pleas from President Bush and their party leaders to pass it. The article doesn’t say who these 19 are but this figure […]

September 29th, 2008 | Permalink| 4 Comments »

Financial Crisis a Cultural Failure

By Alan Stewart Carl | Related entries in Congress, Economy, Wall Street

The more I read on the current financial crisis and the more I think about the ramifications, the more I realize that September 2008 will probably have as much of a lasting effect on our nation as has September 2001. That’s because what we’ve witnessed is not just a political failure and not just a […]

September 25th, 2008 | Permalink| 5 Comments »