Financial giants Citigroup and JPMorgan are being sued in U.S. District court for allegedly conspiring with education finance company Nelnet to illegally recruit student loan borrowers. The lawsuit charges that all three companies received federal student loan subsidies by making false claims.
The civil action suit was originally filed back in May 2008, but the [...]
In recent weeks the dollar has been losing ground to key currencies. The greenback is down 2.6% this month compared with the euro, and 5.4% year-to-date. Bu what may be bad for the dollar can be good for investors – if you know where to look.
Companies that make goods in the United States [...]
Gallup has an interesting new study about Presidential approval ratings and the behavior of the Dow Industrial Average. In short, sometimes the trend lines go together, sometimes they don’t.
Here’s the chart comparing Barack Obama’s approval rating to the Dow thus far into his presidency:
Here’s the chart for George W. Bush:
As you can see, there’s [...]
While the world economy shows signs of gaining strength and the possible end of recession brought on by the subprime credit crisis, there are enough experts that anticipate a new collapse, writes AFP.
The hypothesis that a recession will return after an initial recovery was made by U.S. economist Nouriel Roubini, professor at the University of [...]
The U.S. economy is no longer in an “urgent” situation and seems to have entered in a slow process of revival, but the government must address the secondary effects of the huge stimulus programs, particularly the strong increase of public debt, according to billionaire Warren Buffett.
“The country will have to face the side effects of [...]
In June, Germany’s exports registered an increase of 7% compared with May. This marks the largest monthly advance in the last three years, according to data published Friday by the German federal office of statistics, reported AFP.
Recovery of exports is a good sign for the largest economy in the EU, a country that remains the [...]
Saved from bankruptcy by massive aid from the government, U.S. banks are again in a position to provide big financial bonuses to bankers, although they have been accused in many areas of causing the current crisis to start in the first place.
Critics charge that, in order to gain as large a bonus as possible, bankers [...]
If you have been sitting on the sidelines waiting for the housing market to reach rock-bottom, now may be the time to move. After plunging the last three years, home prices have gotten low enough to entice buyers back into the market. That is starting to stabilize prices and some analysts now think [...]
The unemployment rate in June passed the threshold of 10 percent in 16 U.S. states, while in Michigan the unemployment rate went over 15 percent. This is the first time a state has registered that high an unemployment rate since 1984, according to the U.S. Department of Labor.
In comparison, in May, the unemployment rate [...]
The banks Citigroup and Bank of America continued good progress in announcing first quarter profits of $4.2 billion (3 billion euro) and $2.4 billion ( 1.7 billion euro).
In the same period last year, Citigroup, the beneficiary of aid $ 45 billion (32 billion euro) from the American state, made a loss of $ 2.5 billion, [...]
Former U.S. Treasury Secretary, Henry Paulson, said that “although our responses to the crisis have not been perfect, I believe strongly that they have saved the nation from a wide danger.”
“A lot more Americans would be now without jobs, business, economy and a way to live,” Paulson insisted, who has been accused in numerous occasions [...]
