Breaking News: DOW Drops Almost 1,000 Points in 2 Days

pO157.

Posted to Business on Thu Nov 20, 2008 at 04:21:46 PM EST (promoted by port1080). RSS.

Well, it's rather brutal here. Right now we are advising all our clients to put everything they've got into canned goods and shotguns. ~Brainy Gremlin, Financial adviser, Gremlins II.

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REPRESENTATIVES DERAIL EXPECTED FREE MARKET INTERFERENCE! BAILOUT ACTION CANCELED! [BREAKING]

pO157.

Posted to Business on Mon Sep 29, 2008 at 03:03:28 PM EST (promoted by port1080). RSS.

A bloodbath on Wall Street is taking shape as the Dow dropped 700 points upon news that the $700B bailout package was stalled in the House amid massive opposition. The markets soon took a recovery bounce, but remain down about 5% at midday after news that the House of Representatives killed the bill by a 228 to 205 vote (view the roll call here).

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"Once In A Century" Economic Crisis Afoot [Breaking News]

HidingFromGoro.

Posted to Business on Sun Sep 14, 2008 at 10:56:31 PM EST (promoted by port1080). RSS.

So says Alan Greenspan.

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Seven years since America lost its innocence

pO157.

Posted to Etcetera on Thu Sep 11, 2008 at 08:41:04 AM EST (promoted by port1080). RSS.

Seven years ago today, America lost its sense of invulnerability as terrorists attacked the World Trade Center, and the Pentagon. A band of heroes retook a fourth hijacked plane and crash landed it outside of Shanksville, Pennsylvania.

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Public Housing a Public Nightmare?

pO157.

Posted to Politics on Sun Aug 24, 2008 at 12:10:29 PM EST (promoted by port1080). RSS.

A reporter visited a few sites and was shocked by what she saw. No children playing. No residents outside. The constant pop-pop-pop of random gunfire. Broken glass scattered across trashed playground equipment. Pools of human blood spilled across the sidewalk, remaining there for days. Remaining citizens cowering in internal rooms of their homes for fear of their safety. Animals and insects coming in through gaping holes in the roof. Narcotics trafficking and looting in broad daylight.

Where was this? Afghanistan? Iraq? Sudan? South Ossetia? Tijuana? No. Urban public housing in the United States.

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Hooray! Our Dystopian Shithole is not #1!

pO157.

Posted to Business on Fri Aug 15, 2008 at 03:10:53 PM EST (promoted by port1080). RSS.

Hard economic times have hit the country. Of course, not all areas are affected equally, and some localities have been on the downswing for years, even decades. Some were even circling the drain during the boom times of a few years ago. But until now people were unable rank their particular dystopia to others. That problem has been solved thanks to the investigative reporting of Forbes Magazine, which published a list of the Top Ten Fastest Dying US Cities.

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Freddie's Dead?

3fingerspointback.

Posted to Business on Tue Jul 15, 2008 at 05:17:41 PM EST (promoted by port1080). RSS.

When a big bank like IndyMac fails, it may cost the government up to $8 Billion out of its FDIC fund to compensate burned account holders.  When huge banks like Bear Stearns fail, the Fed might front cash to buy the riskiest $29 Billion in order to get the rest of the business into the hands of another company and keep the machine running.  And then there are the banks like Fannie Mae (FNMA) and Freddie Mac (FHLMC).

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The US Army: Flooding Your Town by the Book

Shy Elf.

Posted to Scoop on Sun Jun 22, 2008 at 03:59:52 PM EST (promoted by port1080). RSS.

The United States has been consistently slower to integrate information technology into its public systems than has Europe.  Traffic lights, for example, are routinely mistimed.  It should therefore come as no big surprise that the control strategies employed by the Army Corps of Engineers remain relatively primitive.  Little has changed from the last big flood in '93, when Keith Haas, part of the Engineers' 20-member team in Des Moines, said

You can't deviate from the plan anytime you want to.  The attitude is: "You're in the Army; you follow the plan."

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