CNBC Misleads On Durable Goods, Jobless
May 28, 2009
It is my hope that one day the financial media will stand up on high moral ground and tell the investing public - those who are losing (or have lost) everything they own - the truth. Instead, they are misleading individual investors daily with “green shoots” and deceptive journalism. Read more »
Ignore Everything You Hear on TV
May 19, 2009
Ignore everything you hear on television. Especially CNBC (owned by GE). While they’re busy pumping the markets, this is what’s happening in the real world (from Bloomberg):
“Borrowers such as Dayton, whose 2004 compensation was almost 10 times the median U.S. household income, are becoming trapped by the same issue facing the poorest subprime homeowners: falling home prices erase equity and make it impossible to sell or refinance without losing money. Read more »
Geithner’s Worst Case Scenario is Now Here
May 8, 2009
The widely discussed stress tests were published yesterday evening and showed that capital shortfalls of some of the largest banks were significant. Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC), and 7 others were being asked to raise roughly $75 billion in order to shore up their balance sheets. Read more »
GM 1-to-100 Reverse Split? Uh-oh…
May 5, 2009
It’s official; General Motors (NYSE: GM) common shares are in their final death throes. Read more »