With this as the starting point, where can we possibly go?
Inquiring Mind: AIG is up to $200 billion or so. Citi is well over that. Bof A has gotten funds under so many different guises we can't keep count. Half a trillion, at least, and not one vote by one congressman. Strange, huh?
Put it on the Tab: Bankrupt Delphi Corp, GM's disowned offspring, points the way to the future; a bankruptcy court absolved it from paying contractually obligated health care benefits for 15,000 current and former employees - because this was demanded by its lenders. To hell with the retirees. To hell with contracts. Let the taxpayer bleed.
Coals to Newcastle: Kuwait has sold about 500,000 barrels of gas-oil to Saudi Arabia.
Oh, That sort of True: Gov. Jindal has acknowledge that he wasn't actually present and had no part whatsoever in The Great Defiance when the sheriff stood up to the federales, as he claimed on national TV as the GOP's spokesman. Turns out he didn't really mean it "in the sense of its actually being true. He meant it more in the sense that it was made up.
Crime Soppers : The median price of a single family home in Detroit in 2008 dropped to $7,500. The murder rate dropped 14%, mostly because "...there isn't anyone left to kill."
Cropping Crops: Crops in southeastern Australia could be cut by half this year due to continuing drought and escalating costs. In Texas 64% of the winter wheat crop is rated poor to very poor. In Oklahoma 36% of the crop is rated poor or very poor. China's wheat belt is suffering its worst drought in 50 years.
Rip Tide: Moody’s expects nearly all 2005 to 2007 vintage subprime mortgage-backed securities (42% of $680 billion worth) that are currently delinquent will default. S&P announced it expects 40% of 2006 and 2007 vintage mortgages to default.
Green, The Color Of Money: Virginia Natural Gas will charging an extra $7 a month for customers underusing natural gas. A new law lets the company add fees to make up for lost income when customers use less of their product.
Qui Bono: As you've figured out, Obama's plan to subsidize mortgages is designed to prop up house prices which will benefit the banks and holders of mortgage backed derivatives.
Self Help: Bill Gross, CEO of
PIMPCO PIMCO, who "helped" the Treasury Department by advising it to wipe out shareholders value in Fannie and Freddie while pumping up the flagging value of his bonds, advises more of the same for Citi and AIG. PIPMCO PIMCO is one of the world's most powerful bond investors.
Comming Detraction: Senator Sheldon Whitehouse (D, RI) wants a 'torture commission' to investigate events during the Bush years. As a member of the Judiciary and Intelligence Committees, maybe he's speaking with some insider knowledge when he says there is lots the public does not know about these issues. "This is going to be big."
Look Closely: The headline screamed "Major oil field found in north China." Seems a field with about 100 million tonnes was found, 35% of which may be recoverable. Wowser. But 35 million tonnes works out to 280 million barrels, which will supply the world for less than 4 days.
Porn O'Graph: Housing prices
always usually sometimes hardly ever go up.