JPMorgan’s $2 Billion Bet
Oops. JPMorgan lost $2 billion. And, just wait, the loss could double or more. By the time JPMorgan pays off its losing bet, the bank could be $8 billion in the red.
Archive for: US Government News
Is QE3 a Done Deal?
GDP came in at 2.2% for the first quarter – an uninspiring rate considering that GDP grew 3% in the fourth quarter last year and the economy was expected to expand by 2.5% this past quarter. What kept the economy from doing even worse were car sales.
Is Romney Too Rich?
Good question: Well, is Romney too rich? The excerpt below argues no, he’s not too rich, he’s the wrong kind of rich, coming from a privileged upbringing thanks to the success of his father and grandfather.
Did Uncle Sam’s $700 Billion TARP Bailout Pay For Itself?
At the height of the economic crisis, President George W. Bush announced a $700 billion bailout package called the Troubled Asset Relief Program (TARP). As you can imagine, there were a lot of questions such as…
OMG: This Headline Could Land Me in Jail
What’s going on in Arizona these days? They’ve just passed a bill outlawing profanity and threats on the Internet. Will Governor Janice Brewer pass it?
She better not.
Good intentions aside (protecting kids from bullying), it’s a classic piece of “big brother” legislation that could find a receptive audience in China but not here in the USA.
Obamacare: American Capitalism on Trial?
The fundamental problem with the new healthcare reform law, known as the Affordable Care Act, isn’t the “individual mandate” provision that requires most Americans to acquire health care insurance. It’s the fact that the law does too little to cut down health care costs.
Is Mandatory Health Care Good For America?
Guess what? Our health care debate doesn’t harken back to the days of the Clinton Administration when Hilary tried to give the country her version of comprehensive health care reform. No, it dates way way back…to the 1920s when the AMA denounced the US’s first feeble and scattered efforts at reform as “socialistic” and “communistic.”
Banks Win Again: The Debate on Financial Reform Going Their Way
The Volker Rule is already a lost cause. The banks have won. And the American taxpayers have lost.
