February, 2009

Economy Shrinks At Staggering Rate

Challenges Loom Larger Than Feared With Sharpest Contraction Since 1982

U.N. crime chief says drug money flowed into banks

VIENNA: The United Nations’ crime and drug watchdog has indications that money made in illicit drug trade has been used to keep banks… 1

Worst Since 1932

Brutal February for Blue Chips A late burst of selling sealed a dismal finish for the stock market, which hit a fresh 12-year… 0

1933 Is Coming Again

FDR in 1933, signing the Emergency Banking Act to deal with the impending collapse of U.S. banks. The financial crisis is reaching a… 0

Economy moving in reverse faster than predicted

Latest figures show economy is moving in reverse faster than government can predict

Consumers around the world no longer want to buy Japanese cars

Consumers around the world no longer want to buy Japanese cars Japan’s industrial production fell by 10% in January – the biggest monthly… 0

Calif. declares drought emergency, mulls rationing

California Governor Arnold Schwarzenegger on Friday declared a state emergency due to drought and said he would consider mandatory water rationing in the… 1

Get Ready for Mass Retail Closings

About 220,000 stores may close this year in America, says our guest, retail consultant Howard Davidowitz of Davidowitz & Associates. As more Americans… 2

52,000 Had Secret UBS Accounts

U.S. says Swiss government is no help.

Citigroup’s Latest Bailout Gives the US More Control

The US government agreed to boost its stake in Citigroup to as much as 36%, shoring up the bank’s capital and taking on… 1

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