SCREW Small Business
U.S. Will Use $375 Million to Expand Guarantees on Loans to Small Business
Insurer to pay $450 million in bonuses to employees of the unit that was largely responsible for AIG's collapse last fall.
Hmmmmmmmmmmmmmmm. $375 million to help small business vs. $450 million in bonuses to a few executives at AIF....
Fed's Bernanke sees recession ending 'this year'
Remember when Paulson was telling you everything was fine last Spring?????
Bernanke Defends Recovery Efforts
Sure Mr. Bernanke.......if I was in charge of giving TRILLIONS of taxpayer dollars to a few of my banking buddies in the form of bonuses and bailouts.......I too would defend what I was doing.....do you think he wants to be roomates with Madoff????
Just wait until the deficit debacle becomes front page news in the next few months.....and all the politicans tell you how "SHOCKED and UNFORESEEABLE" it was.......
Many state and city governments reeling from financial woes are about to get whacked again, this time by an unforeseen increase in their pension bill thanks to market declines.
In an effort to stave off tax increases, New Jersey lawmakers on Monday will consider a bill that would allow municipalities to defer payment of half their annual pension bill, due April 1, for one year. Those towns, counties and schools that opt to defer would face a higher pension bill for years to come.
Other states and municipalities are facing similarly difficult choices. In Pennsylvania, the state employees and public teachers pension funds both have warned that employer contribution rates could surge seven-fold from about 4% of payroll to 28%, starting in 2012. The Detroit police and fire pension plan might have to double employer contribution rates to 50% of payroll by 2011, according to the fund's outside actuary.
Bernanke is right.....the recession will end this year......just as the DEPRESSION starts.