Thursday, December 27, 2007
Wednesday, December 26, 2007
Monday, December 24, 2007
Saturday, December 22, 2007
Wednesday, December 19, 2007
Tuesday, December 18, 2007
Monday, December 17, 2007
Report Says The Rich Are Getting Richer Faster
...The total income of the top 1.1 million households was $1.8 trillion, or 18.1 percent of the total income of all Americans, up from 14.3 percent of all income in 2003. The total 2005 income of the three million individual Americans at the top was roughly equal to that of the bottom 166 million Americans, analysis of the report showed... Earlier reports, based on tax returns, showed that in 2005 the top 10 percent, top 1 percent and fractions of the top 1 percent enjoyed their greatest share of income since 1928 and 1929.
Friday, December 14, 2007
Sunday, December 9, 2007
Saturday, December 8, 2007
Gates: Iran Could Restart Weapons Program
Defense Secretary Robert M. Gates argued forcefully at a Persian Gulf security conference Saturday that U.S. intelligence indicates Iran could restart its secret nuclear weapons program "at any time" and remains a major threat to the region.
Thursday, December 6, 2007
US Wins Support for New Pressure on Iran
The United States won support Thursday for more pressure on Iran from two key European allies, France and Germany. Their leaders urged a continued push on Tehran over its nuclear program, saying the country remains a danger.
Toyota Motor on Thursday unveiled a robot that can play the violin as part of its efforts to develop futuristic machines capable of assisting humans in Japan's greying society.
Tuesday, December 4, 2007
Monday, December 3, 2007
Sunday, December 2, 2007
Sub-Prime Mortgage Debt Is But The Tip
.... Again why could Deutsche Bank not show the 14 mortgages on the 14 homes? Because they live in the exotic new world of “global securitization”, where banks like DB or Citigroup buy tens of thousands of mortgages from small local lending banks, “bundle” them into Jumbo new securities which then are rated by Moody’s or Standard & Poors or Fitch, and sell them as bonds to pension funds or other banks or private investors who naively believed they were buying bonds rated AAA, the highest, and never realized that their “bundle” of say 1,000 different home mortgages, contained maybe 20% or 200 mortgages rated “sub-prime,” i.e. of dubious credit quality.