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Pace of bank closings accelerates

Saturday March 20th, 2010 - 10:07AM

The pace of bank seizures this year is likely to accelerate in coming months, regulators have said, as losses mount on loans made for commercial property and development. The bank failures -- the 140 last year was the highest annual tally since the height of the savings and loan crisis in 1992 -- have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, hit
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Obama now more disapproved than approved

Wednesday March 17th, 2010 - 3:20PM

The latest from the Gallup Poll.
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Other shoe dropping? New debt crisis in 2012

Tuesday March 16th, 2010 - 1:28PM

When the Mayans envisioned the world coming to an end in 2012 — at least in the Hollywood telling — they didn’t count junk bonds among the perils that would lead to worldwide disaster Maybe they should have, because 2012 also is the beginning of a three-year period in which more than $700 billion in risky, high-yield corporate debt begins to come due, an extraordinary surge that
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Obama sparks another crisis by thrashing Israel

Tuesday March 16th, 2010 - 11:58AM

The Obama administration's fierce denunciation of Israel last week has ignited a firestorm in Congress and among powerful pro-Israel interest groups who say the criticism of America's top Mideast ally was misplaced. Since the controversy erupted, a bipartisan parade of influential lawmakers and interest groups has taken aim at the administration's decision to publicly condemn Israel for its announ
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Hamptons dunes washed away; illegal to restore

Tuesday March 16th, 2010 - 5:59AM

VIDEO LINK: The people at WCBS in NYC are too dumb to put up an embed code, but here is a link to their page if you want to see the story: http://www.nbcnewyork.com/station/as-seen-on/Long_Island_Beaches_Battered_in_Rainstorm_New_York.html ARTICLE: Property owners banded together Monday to try to save their properties ravaged by the most extensive coasting flooding since the "perfe
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Parents make Mexico off-limits for spring break

Tuesday March 16th, 2010 - 5:33AM

Marquette University senior Kelly Magennis wasn't even up prepping for the start of the biggest spring break week on Texas' South Padre Island when the first text message arrived from her mom forbidding her from crossing into Mexico. "I said, 'don't worry, I didn't even bring my passport,'" Magennis said, surrounded by several thousand like-minded spring breakers on the beach Monday. Whether it wa
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Dems go chicken; terrified of public vote

Tuesday March 16th, 2010 - 5:27AM

After laying the groundwork for a decisive vote this week on the Senate's health-care bill, House Speaker Nancy Pelosi suggested Monday that she might attempt to pass the measure without having members vote on it. Instead, Pelosi (D-Calif.) would rely on a procedural sleight of hand: The House would vote on a more popular package of fixes to the Senate bill; under the House rule for that vote, pas
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China spoiling for a showdown with US

Monday March 15th, 2010 - 5:07PM

VIDEO AT LEFT: This link is a MUST SEE segment of the PLA 60th Millitary Parade in 10/2009 featuring the Chinese female military. The synchronization is awesome - you don't want a firefight with these women. Chinese language, no English translation. ARTICLE: China has succumbed to hubris. It has mistaken the soft diplomacy of Barack Obama for weakness, mistaken the US credit cr
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Hard Times? Clinton buys $5.4 Mill in stemware

Monday March 15th, 2010 - 4:11PM

Hillary Rodham Clinton's State Department is spending $5.4 million to buy fine crystal stemware for American embassies -- but it won't give the US economy much of a boost. The contract was given to a tiny Washington, DC, interior designer, which in turn subcontracted the crystal work to a Swedish firm -- snubbing such US companies as the famous manufacturer in Clinton's own back yard, Steuben Crys
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US may kiss its AAA credit rating goodbye

Monday March 15th, 2010 - 3:26PM

The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service. The governments of the two economies must balance bringing down their debt burdens without damaging growth by removing fiscal stimulus too quickly, Pierre Cailleteau, managing director of sovereign risk at Mo
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