From Michael Panzner at Financial Armageddon comes this collection of bad news: “The Last Time Wall Street Was This Negative, We Were In A Recession” (Business Insider) As second quarter earnings season begins, companies are slashing earnings guidance at rates not seen in the last three years. Tobias Levkovich, who heads Citi’s U.S. equity strategy research, points [...]
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The UK has imposed budget cuts on their various governmental departments. Business Insider in a piece entitled Nightmare! What The UK’s New Austerity Budget Would Look Like In The U.S. provides what the equivalent cuts would be to governmental agencies in the US. Why not go for double these amounts? OK, triple if you insist.
Fannie Mae Loses $18 BILLION, Needs $15 BILLION More In Aid from The Business Insider by Joe Weisenthal Just to be clear, Fannie Mae (FNM) is still a total sinkhole.————- WASHINGTON (AP) — Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as [...]