The U.S. House is considering reinstituting the Depression-era Glass-Steagall Act, which barred bank holding companies from owning other financial companies, Majority Leader Steny Hoyer said today. More Articles

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the broader message from the White House, which has taken political heat for its support of the $700 billion financial bailout, will be that the taxpayer-funded rescue gives the banks an obligation to do more to help the economy. More Articles

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The independent panel that oversees the government's financial bailout program concluded in a year-end review that, despite flaws and lingering problems, the program "can be credited with stopping an economic panic." More Articles

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It's no wonder that on his recent trip to China, President Obama warned, "It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that as some point, people could lose confidence in the U.S.

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according to the government report, manufacturing, as well as new home and existing home sales have nudged the U.S. economy towards a sustainable recovery.

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A man being served an eviction notice by a deputy from the Constable's Office set his house on fire and then shot at firefighters who responded to the scene, according to a spokesman for the NOPD.

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An independent research group has determined that U.S. housing prices will stabalize in the first quarter of 2010. Good..

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Stocks in Asia rose Thursday; U.S. futures are pointing to a slightly higher open.

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Prolific author, lawyer and former banker Charles Morris presciently laid out a likely course of write-downs and defaults on assets -- a year ago -- well before Lehman collapsed in September 2008, followed by the global credit meltdown.

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The number of first-time claims for unemployment benefits rose unexpectedly for the second straight week, a sign that jobs remain scarce even as other data show the economy is stabilizing.

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The American economy shrank at an annual rate of one percent from April through June, the government reported on Friday, stoking hopes that the longest recession since the Great Depression was nearly over.

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A band of homeless people living in tents in Nickelsville, Washington was forced to move out of one city park. They have relocated 2 miles away but they may not be there long. The park bans camping. This is a symptom of the growing problem of homelessness in the USA.

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Max Keiser gives it to you plain and simple when it comes to the ongoing rape of this nations foundations. There is no going back and Sachs goldman is quite happy for opportunities as max see's it.

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If Jamie Dimon of JPMorgan Chase and Lloyd Blankfein of Goldman Sachs turn out to be correct about the financial crisis, their institutions emerge unscathed and restored to their old dominance over the US economy. Minus a few old rivals who went bust.

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The reports bolstered the argument that the economy's severe recession was close to hitting a bottom, with growth likely to return in the second half of the year. More Articles

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In an A.P. article posted this morning, it was announced that 12.5% of all home owners with a mortgage were behind on the house payment. According to the article, the number of prime borrowers in default had doubled over the last six months.

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The government says it sees "green shoots" sprouting among the thorny economic indicators. We fear that this is a willful triumph of hope over reality--a way to avoid hard decisions and wait to see what happens next.

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The relentless cycle of leak, announcement, and update is fast becoming a hallmark of the Obama Administration, and the pace seems to be accelerating as officials at the Treasury, the White House, and regulatory agencies expand existing programs and add new ones to the list.

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The number of Americans filing claims for unemployment insurance unexpectedly fell last week to the lowest level in three months, a sign the worst of the job cuts may be over. More Articles

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"The past few weeks' claims data are beginning to look increasingly like a peak," wrote Ian Shepherdson, economist at High Frequency Economics, in a research note. More Articles

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The Wall Street Journal reports that the biggest financial institutions "made or refinanced a total of $226.3 billion of loans in October.

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The G7 conference on Friday signaled that the worst of the world recession could be behind us. But then they went on to state that the economy could worsen this year. But then again it could begin to recover as early as the third quarter of 2009..

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President Obama told us that our financial world was collapsing. Why is Wells Fargo , Wachovia Bank proving all the presidents men wrong?

Last Friday, this writer took a moment to post a report on Wells Fargo Bank's projected net earnings for the first quarter of 2009.

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The Obama administration's plan to buy up to $2 trillion in toxic assets, unveiled in the midst of roiling populist outrage over AIG's executive bonuses, has put Treasury Secretary Timothy Geithner at the dead center of a political bull's-eye.

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"In September, 2000, when the books closed on the fiscal year, the federal government had the biggest budget surplus in history, and it was predicted that the accumulated surplus for the next decade would be more than five trillion dollars.

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