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16 Feb 2010 12:54

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U.S.: Obama loans lots of money to a couple of nuclear reactors

  • $8.3 billion goes to two reactors in Burke County, Georgia source
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11 Dec 2009 01:35

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U.S.: Pennsylvania screwed over thousands thanks to a budget holdout

  • 101 the number of days Pennsylvania's budget was delayed
  • 16,000 workers had to get loans due to the budget delay source
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09 Dec 2009 09:58

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Biz, U.S.: The phrase “TARP” isn’t leaving our lives anytime soon

  • TARP is going nowhere, guys. Trea­sury sec­re­tary Tim­o­thy Gei­th­ner informed Con­gress this morn­ing that the pro­gram, set to expire at the end of the year, will be extended until at least Octo­ber. Which means that the bailouts won’t be going any­where any­time soon, as a way to extend small-business credit. source
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20 Jul 2009 10:42

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Biz: Sketchy subprime mortgagers try to screw already-screwed people

  • pre-burst Companies offer subprime mortgages that allow tons of people to get homes that they can’t afford. The companies make out like bandits, but when the housing bubble bursts, those homeowners are screwed. This is pretty evil.
  • post-burst Not afraid to kick already-lowered people or stick the knife further into their backs, the people behind the subprime mortgage companies start new loan-fixing companies, then fail to follow through on promised loan fixes. This is beyond evil. source
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29 Jun 2009 20:46

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U.S.: Busy day on the Supreme Court tip. Here’s a sampling.

A seismic shift
The biggest, most notable decision the court made today was ruling in favor of a group of white firefighters who felt they were discriminated against due to the city of New Haven, Conn. hiring black firefighters with lower scores on a test. This will affect hiring practices across the board. Cable > big media
Those with cable set-top boxes have reason to be happy, as the court also ruled in favor of cable companies who wanted to allow their users to store their shows on a central server. That means you don’t have to buy a DVR with a massive hard drive – and that TiVo is screwed. Spitzer’s phoenix rises
The Court made one fairly surprising decision, letting state regulators take on national lenders for discriminatory practices, such as high interest rates. The decision should help former New York Gov. Elliot Spitzer’s rep, as it’s based on moves he made as the state’s attorney general.
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06 Jun 2009 20:33

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Biz, U.S.: Big businesses try to get rid of the scourge that is TARP funds

$25 billion

The estimated amount the federal government expected to get back from bailed-out financial institutions

twice that

The updated amount of TARP funds the feds expect back; banks want to be rid of it source

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04 Mar 2009 10:22

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Biz: Once part of the housing problem, now part of the solution?

  • It is very important to the entire team here to be part of a solution.
  • Stanford L. Kurland • Former president of Countrywide, a company synonymous with the housing crisis, on his new venture, PennyMac. PennyMac buys back delinquent mortgages and resells them. While some homeowners claim to be helped, some critics claim it’s like an arsonist who sets fire to the home, “then buys up the charred remains and resells it.” • source
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friendly nudge: The Books of Blood Part 3 (the 00s)

From Cavalcade of Schlock

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15 Jan 2009 09:31

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Biz: Who says you can’t go home? The bank. Foreclosures are up.

81%

increase in forclosures from 2007 to 2008; the number tripled from 2006 to 2008.

1.84%

of all homes received at least one foreclosure filing in 2008. There goes the neighborhood. source

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