By any standard measure the suicide of Wesley Everest should be considered unusual.
Everest had only recently returned from the front lines of WWI France, so a suicide isn't all that shocking. However, the circumstances of his death on Veterans Day 1919, should have raised questions with the coroner. That is, if the coroner had bothered to examine the body before declaring it a suicide.
Everest's teeth had been knocked out with a rifle butt. He was then tossed over the side of a bridge several times until his neck was broken from the noose tied around it. Afterward his lifeless body had been shot full of bullets, which is very difficult for a dead man to inflict upon himself.
Perhaps the coroner was just stating that Everest's suicidal action happened long before his death. It happened when he decided to become a member of the Industrial Workers of the World.
Just when you think it can't get any more obvious, we get this:
President Barack Obama raised hopes for creating an Asia-Pacific free-trade region by announcing Saturday that the U.S. would seek to join a smaller group seen as a precursor to a broader Pacific Rim agreement.
News that the U.S. would participate in the Trans-Pacific Partnership, joining Chile, New Zealand, Singapore and Brunei, was announced in Tokyo and Singapore, drawing applause at the annual Asia-Pacific Economic Cooperation forum.
"Significant steps like the TPP are important to help keep up the momentum in our efforts to realize the ... vision" to create a region-wide free trade area, Singapore Prime Minister Lee Hsien Loong told other leaders at their weekend summit here.
Up until a week ago, the prospects for a second round of economic stimulus looked bleak; an ominous coalition of Senate moderates (the same folks who shrank the stimulus and cut out Pelosi’s teacher preservation program, and who’ve tried their level best to stop the health care reform effort in its tracks) threatened to force the U.S government into default unless Congress agreed to a deficit-reduction committee with authority over Social Security and Medicare, and President Obama responded by talking up deficit reduction in his next budget.
And then the October jobs report came out, showing unemployment rising over the magical 10% level that signals political disaster in a midterm election. Suddenly, President Obama began to talk up a December “jobs summit,” and Senator Reid announced that he’s pulling together a pre-election jobs bill.
This sudden momentum is welcome, but if we want to significantly reduce unemployment, and thereby protect our Democratic Congress at the same time, we need to be very careful about what goes into this jobs bill.
Naples, Fla.-based Orion Bank, which had $2.7 billion in assets as of last month, was closed by regulators Friday -- one of a trio of failures that will cost the federal deposit insurance fund just over $1 billion.
Orion Bank, Florida - FDIC cost $615 million
Century Bank, Florida - FDIC cost $344 million
Pacific Coast National Bank, California - FDIC cost $27.4 million
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
Tonight's Friday Movie Night is a little different and why it's being posted early. Senator Bryon Dorgan has come alive and getting involved in financial reform. This is great news for Dorgan predicted derivatives were a very serious problem 15 years ago(take that Taleb & Roubini!). First, below is Dorgan's call to action. Next is a talk on derivatives and financial reform by Dorgan. Finally is Senator Bernie Sander''s Too Big to Exist bill which breaks up the systemically risky institutions.
Considering we have financial lobbyists writing the House derivatives bill (exceptional piece by William Greider) and a complex maze of financial reform (where we are still digging through to find the loopholesexemptions), we call your attention to a refreshing breeze blowing down from common sense North Dakota.
Senator Bryon Dorgan is requesting you get involved in demanding common sense financial regulatory reform and reinstate Glass-Steagall (separate out FDIC insured banks from investment banks).
September exports of $132.0 billion and imports of $168.4 billion resulted in a goods and services deficit of $36.5 billion, up from $30.8 billion in August, revised.
September exports were $3.7 billion more than August exports of $128.3 billion. September imports were $9.3 billion more than August imports of $159.1 billion.
The deficit, which detracts from GDP, increased 5.7 billion in one month, or 18.2%. That's the largest jump in a decade.
The balance of services remained stable, both imports and exports grew by $0.2 billion.
There is no independent auditor overseeing the federal agency responsible for some $6 trillion in home mortgages, because the Department of Justice's Office of Legal Counsel ruled that the agency's inspector general didn't have authority to operate, according to internal memos obtained by the Huffington Post.
The ruling came in response to a request from the Federal Housing Finance Agency itself -- which means that a federal agency essentially succeeded in getting rid of its own inspector general.
The FHFA is home to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, which are jointly responsible for purchasing or guaranteeing more than 80 percent of new mortgages issued since the middle of 2008, according to FHFA numbers.
WASHINGTON - The U.S. government deficit hit a record for October as the new budget year began where the old one ended, with the government awash in red ink.
The Treasury Department says the deficit for October totaled $176.4 billion, even higher than the $150 billion imbalance that economists expected.
After posting massive losses, yet again, Fannie and Freddie have warned that they will be needing another round of bailouts in the near future.
Fannie Mae and Freddie Mac, already reeling in red ink, are warning they could face additional losses from the weakening condition of mortgage-insurance companies.
Fannie and Freddie together have required capital injections from the Treasury of $112 billion since the government took them over through conservatorship last year. Their need for government support would have been greater without collecting on claims from mortgage-insurance companies. Fannie and Freddie have received payouts of $2.3 billion and $658 million, respectively, from mortgage insurers through September this year.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
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