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World leaders unveiled a set of sweeping plans on Saturday aimed at tackling the ever-expanding economic crisis.

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World leaders on global crisis

) Source: foreclosurepulse.com Fed Calls Another Running Play at Fourth and Goal Looking at fourth down and goal with time running out, and having resorted to every trick in the playbook, including lending billions to help out the nation s and the world s struggling financial systems, Ben Bernanke and his team over at the Federal Open Market Committee tried a run up the middle one more time Wednesday, lowering the ever-popular federal funds rate by half a percent to 1 percent. A huge rally

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Fed, World s Banks Pull Off Global Rate Reduction (Foreclosure listings)

Gettelfinger calls for emergency loans, says don’t blame the UAW Automotive News | November 15, 2008 - 5:30 pm EST DETROIT (Reuters) - U.S. automakers urgently need a federal loan to survive, United Auto Workers President Ron Gettelfinger said on Saturday, but their work force should not be blamed for the industry crisis. Gettelfinger, in a rare news conference, said General Motors, Ford Motor Co. and Chrysler LLC were a critical part of the …

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Gettelfinger calls for emergency loans, says don’t blame the UAW

http://www.smh.com.au/news/national/optimistic-australians-defy-global-gloom/2008/11/16/1226770256739.htmlOptimistic Australians defy global gloom Phillip Coorey Chief Political Correspondent November 17, 2008 KEVIN RUDD and the Labor Party are approaching their first anniversary in power more popular with the electorate than at the last election, according to the latest Herald/Nielsen poll. Even amid signs the global financial crisis is worsening, a solid majority of voters remains happy

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Go, Kevvy!!!

Barack Obama has ahead of him a far more difficult job than any other US president in our history. Not only is he expected to …

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Obama’s Honey-Do List(s)

This past week Congress interviewed some of the top executives in the Banking industry to find out what was delaying their institutions from providing liquidity back into the mortgage markets. The heads of the major Banks had tough questions presented to them this past week in Washington.  They did not have any credible answers.  They are still holding on to cash that has been provided to them from the $850 Billion bailout Congress passed last month.  It appears that they are adding to the dela

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Estate Bay Real Estate Is Still Awaiting The Banks To Show Up!

RG mail by Hyman P Minsky Working Paper No 74 (May 1992) The Jerome Levy Economics Institute of Bard College Prepared for Handbook of Radical Political Economy, edited by Philip Arestis and Malcolm Sawyer, Edward Elgar (Aldershot, 1993). The financial instability hypothesis has both empirical and theoretical aspects. …

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Financial instability hypothesis

The New York Times has a long and interesting article on how Sallie Krawcheck, Citigroup’s former chief financial officer, was pushed to the sidelines of the bank’s senior management and ended up leaving. The piece includes a lot of detail about what happened from “a person with direct knowledge of her thinking”, who is so well informed that I assume it to be Ms Krawcheck herself. It concludes that Ms Krawcheck was the victim of internal politics and her falling-out with Vikram Pandit, the ban

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Vikram Pandit and Wall Street’s top women

I left my glass perch high above the synchronous wheel of midtown hustle-bustle and emptied into the street.  I strolled southward.  I wound through the passive patronage of society, each peon marching fro and forward, striding senselessly, subconsciously saluting futile inevitability. A harrowing journey to be taken awake.  A bucket of cold water drenching me further, post the clock punch, …

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the commute

From Zawya, a source for news from the Middle East: “The global financial crisis is poised to cut a swathe through …

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Deflation a factor in delay of energy projects