I would not rule out the possibility that at some point we may need to tap into (short-term) lines of credit with the Treasury for working capital, not to cover our losses, -- Chairman Sheila Bair
They also are considering raising premiums in October. Bair also is planning on charging higher premiums to the more risky banks:
The agency also plans to charge banks that engage in risky lending practices significantly higher premiums than other U.S. banks
This is pretty early in the game to be borrowing money. According to these reports the FDIC has only borrowed money at the tail end of the S&L crisis in the 80's.
Just out of curiosity, tonight I just started watching today's DNC, missed the first hour (6pm CST). So far I've heard a ton about healthcare, and Steny Hoyer has said something about jobs. Well, actually, right now, Michigan Governor Jennifer Granholm, who is doing a question and answer session using a panel. She's actually specifically mentioned industrial jobs. The theme so far in the questioning is that clean energy will equal more jobs.
Today is all DNC, all of the time to the point one is about to get absolutely nauseated listening to these 24/7 Cable pundit talking heads rambling on like Charlie Brown's teacher ...
so it's a very good time to release some bad news right?
The Federal Deposit Insurance Corp said on Tuesday it now expects IndyMac's failure in July to cost its insurance fund $8.9 billion, compared with the previous expected range of $4 billion to $8 billion
Yesterday I had hit on the situation going on with the automakers. Originally, I had intended to include some other stories, but the first piece was large enough (perhaps too large?) that I realized that I had to push the other pieces. Well, as promised, we got some interesting stuff. First on the auto front a cool piece on zero emission cars. Next we got fallout from biofuels and water preservation. Third, it seems the Chinese aren't so thirsty for the black stuff right now. Lastly could the current woes Australia's mining sector tell us something?
Hydrogen cars reach a milestone....no really..literally!
I was rereading policy positions again between Obama and McCain.
Is anyone else really sick of hearing rhetoric and problem description instead of proposals and the justifications of why they would work?
Anyway, I came across this in McCain's Plan:
John McCain Will Establish Permanent Tax Credit Equal To 10 Percent Of Wages Spent On R&D. This reform will simplify the tax code, reward activity in the U.S., and make us more competitive with other countries. A permanent credit will provide an incentive to innovate and remove uncertainty. At a time when our companies need to be more competitive, we need to provide a permanent incentive to innovate, and remove the uncertainty now hanging over businesses as they make R&D investment decisions
Look what's coming out, a star packed movie on the Seattle 1999 WTO protests...just in time for the 2008 election!
Here is the film, Battle in Seattlewebsite which has timeline, interviews, history and request the film be shown in your area.
This is great!
I cannot think of any particular economic area more than trade, where pretty much the entire nation agrees. America and Americans are getting screwed. Blue, Read, Pink and Green, most people want major trade policy reforms. Trade policy has been orphaned by both campaigns (doing anything in workers interests or America's interests about trade that is) as if just describing how the middle class is disappearing and working America is in dire straights is actually enough to get them to vote for (flip a coin now) fill in the blank.
Greetings folks, the start of new week and thus we kick off another episode of Manufacturing Monday! Never a dull moment when it comes to covering stuff that either goes into the products you buy, or the impact that that consumption leads to. Now originally, I had these other items on bio-fuels, hydrogen cars, China and oil, and a few other things. But I see now that my section on the bailout of the US automakers is so big, that the whole thing is too long. So, if it is OK with you, I will post those items tomorrow.
Wow, here are some real horror stories on student loans and thanks (I'll assume) to bankruptcy law changes, the debt is very tough to get out of.
Seems there is one guy out there who has created a website StudentLoanJustice.org trying to get anyone to listen.
This article in the New York Times goes into some real horror stories.
Basically people cannot find jobs or get sick and so on and can't pay them off, but the late fees, interest rate increases, penalties read like your classic predatory credit card.
Canada, Russia, Denmark, Norway and the United States are squaring off over 1.2 million square kilometers (460,000 square miles) of Arctic seabed, thought to hold 25 percent of the world's undiscovered oil and gas. Experts estimate the ridge has ten billion tons of gas and oil deposits and significant sources of diamonds, gold, tin, manganese, nickel, lead and platinum.
There's a famous phrase coined by Margaret Thatcher to describe the inexorable march to a brave new world in which social democracy in Britain would be cast into the scrapheap of history.
There is no alternative (shortened as TINA) was a slogan of which Margaret Thatcher, the radical British Prime Minister was fond. In economics, politics, and political economy, it has come to mean that despite capitalism's problems, "there is no alternative" to the status quo of their economic system and neoliberalism. This is the central slogan of neoliberalism, arguing that free markets, free trade, and capitalist globalization are the only way in which modern societies can go, as any deviation from their doctrine is certain to lead to disaster.
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