The mayor says its the only way to stay solvent. Unions are already filing lawsuits over cut wages and benefits. This should be fun to watch.Read more »
My Millionaire Boss Hit Me Up for a Romney Donation
I work for The Villages, a large retirement community in Central Florida, and one of the top 20 privately held corporations in the state. My employer records annual sales of over $1 billion dollars, and the company's CEO, H. Gary Morse, is a multi-millionaire (possibly even a billionaire).Read more »
Pulling A Fast One About Capitalism Causing All The Mess In The EconomyRead more »
If the standard financial wisdom is true – that surviving a financial catastrophe requires a 6-month cache of emergency savings – then two-thirds of Americans may be in for a nasty surprise.
Only a quarter of U.S. adults have more than six months of funds set aside and readily accessible for such disasters; 28% had none at all, according to Bankrate.com.Read more »
The US Federal Reserve announced a $267bn plan to underpin the US's fragile recovery Wednesday as chairman Ben Bernanke warned that unemployment was unlikely to improve before the end of the year. The plan – an extension of a scheme known as Operation Twist – aims to drive down long-term interest rate and encourage borrowing. The announcement came as the latest statement from the Fed painted a gloomier picture of the US economy and said it was prepared to take more action if necessary.Read more »
The unthinkable suddenly looks possible. Bankers, governments and investors are preparing for Greece to stop using the euro as its currency, a move that could spread turmoil throughout the global financial system. The worst case envisions governments defaulting on their debts, a run on European banks and a worldwide credit crunch reminiscent of the financial crisis in the fall of 2008. A Greek election on Sunday will determine whether it happens. Syriza, a party opposed to the restrictions placed on Greece in exchange for a bailout from European neighbors, could do well.Read more »
Local currency forming in Colorado called Mountain Hours.Read more »
Wisconsin recall highlights elections in 6 states
The gubernatorial recall vote in Wisconsin highlights Tuesday’s elections. Five other states are conducting presidential primaries, although Republican Mitt Romney and Democrat Barack Obama already have collected enough delegates to win their parties’ nominations. Those races and other highlights of voting:Read more »
Wisconsin Recall 2012: Scott Walker, Tom Barrett Face Off In Contest Over A Year In The Making
By SCOTT BAUER, THE ASSOCIATED PRESS
MADISON, Wis. — Following a brief but bruising campaign, both sides of the recall election targeting Wisconsin Gov. Scott Walker are prepared for a razor-thin margin Tuesday as the Republican tries to become the first U.S. governor to successfully fend off a recall effort.Read more »
Secretive Internet currency’s server hacked; money stolen
Upwards of $90,000 worth of Bitcoins have been stolen from an exchange service website this week, marking the second time in nearly two months that the cyber-currency has been compromised due to a security breach.Read more »
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