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What is wrong with this picture: the MTS just announced that the February budget deficit was $220.9 billion, after receipts of just $107.5 billion with vastly surpassed by outlays of $328.4 billion. This is a record. Yet the interest on the public debt was a mere $16.9 billion (page 13 of the MTS report). The reason for this is because as TreasuryDirect points out, in February the interest on public marketable debt (actual cash outlays), which as of Monday stood at $8.061 trillion, hit an all time low of 2.548%. How is it possible that unprecedented debt accumulation can result...
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
FHA Is SOL By Ian Mathias 11/13/09 Baltimore, Maryland – Just as we forecast, the Federal Housing Administration revealed yesterday that it will likely need a government bailout. The results of an external audit (after being suddenly delayed for a week) showed the FHA’s capital cushion to be just 0.53% of its portfolio of insured mortgages. That’s way below the 2% mandated by Congress. In other words, the FHA has just $3.6 billion in reserves to back up a $679 billion book. That’s into the Fannie Mae stratosphere of leverage insanity, worse than anyone expected, and way, way beyond the...
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
The email: ======================================================== Craziest Action Alert You May Ever Receive Dear Fellow Tea Party Patriots, Thank you for your generous monetary donations this past week. We have raised over half of the funds for the Farmer Relief and Freedom Relay. That is enough to launch us. Once the checks are in, we may still send one more fund raising email out next week. In the meantime, this maybe the craziest email you have ever received. The work we did around the country and in DC yesterday was powerful and instrumental. There were over 50,000 of you in DC in less...
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
'In God We Trust' conspicuously absent at launch of Capitol Visitor Center,Yesterday, individuals across the country who were willing to stand up on behalf of our nation's religious heritage saw a major victory," announced U.S. Rep. Randy Forbes, R-Va., in a website statement this week. Last year, WND reported Forbes responded to concerns the Christian heritage of the United States had been scrubbed from the 580,000-square-foot facility. He worked with other members of Congress until the Committee on House Administration and the Senate Rules and Administration Committee agreed to include references to the nation's
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
Another two US banks have been closed by the federal regulator, taking the total number of American banking failures this year to 94. The Federal Deposit Insurance Corporation (FDIC), which controls the banking sector, has shut Irwin Union Bank & Trust and Irwin Union Bank. The move comes after their parent firm - Irwin Financial - was unable to meet an FDIC demand to boost their capital. The failure of the two banks is likely to cost the FDIC $850m.
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
Where is Cecilia Ibru? By Ruona Agbroko August 21, 2009 01:56PMT For someone whose intimidating frame, trademark pearls and penchant for A-list events on Nigeria’s social circuit is legendary, Cecilia Ibru, the recently sacked managing director and chief executive officer of Oceanic Bank Plc, is doing an excellent job of going underground. On Friday August 14, Sanusi Lamido Sanusi, governor of the Central Bank of Nigeria announced her dismissal, alongside that of the CEOs and executive directors of Afribank, Intercontinental Bank, Union Bank and Finbank. Declaring that the CEOs came under the axe for acting “in a manner detrimental to...
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
Wriston’s Law is named after the late Walter Wriston, a giant of banking and finance. In his 1992 book, The Twilight of Sovereignty, he predicted the rise of electronic networks and their chief economic effects. Wriston said capital (meaning both money and ideas), when freed to travel at the speed of light, “will go where it is wanted, stay where it is well-treated.” By applying Wriston’s Law of capital and talent flow, you can predict the fortunes of companies (and countries). All predictions about future performance must start with this most basic question: Do companies (and countries) attract money and...
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
It is hilarious listening to the propagandists try to “spin” the events in bond and currency markets to make it sound like the U.S. government is still operating from a position of strength.
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
A man who fatally stabbed a convenience store clerk during a robbery 23 years ago apologized repeatedly to her relatives and to his mother before he was executed Tuesday. "I know I hurt you very bad," Michael Lynn Riley said to his victim's relatives, including her two daughters and husband. "I want you to know I'm sorry." Brandy Oaks said she accepted Riley's apology and was pleased to hear it. She was 4 when her mother, Wynona Harris, was killed. "This is a difficult day and there are no winners on either side," Oaks said. "Her spirit will live on...
Published on Thursday 11th of March 2010 04:05:55 PM
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Posted by admin! / Under Capital Equity Partners
REUTERS A lawsuit charges hedge-funder Ezra Merkin "knew or should have known" that Madoff was a fraud, and seeks $500M from Merkin's funds. Merkin's Gabriel Capital Corp. received $tens of millions in fees from deals with Madoff. Stanley Chais of California was charged last Friday. Microsoft's wholly owned affiliate, Microsoft Licensing GP, one of the pioneers in the field of computerized stock trading, joined the Bankruptcy Court case against Madoff, but declined to discuss its claims against the swindler.
Published on Thursday 11th of March 2010 04:05:55 PM
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