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Hartford (HIG) CEO Ramani Ayer will be stepping down from his position as the company’s Chief Executive. Ayer spent 10 years at the top of the struggling insurer and will be retiring at the end of the year amid record company losses and shareholder pressure.
In our 2009 forecast, we suggested that Hartford’s future looked the [...]

A few weeks ago, we speculated that a bailout for the mainstream media may be on the horizon and today we sadly report that the first mainstream media bailout bill has been introduced.
(Photo courtesy of DavidIcke.com)

Recent Article in Reuters suggests that the AIG bailout was really another Wall Street bank bailout.
(Reuters) – Where, oh where, did AIG’s bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published.
The Wall Street Journal reported on [...]

One of the silver linings of this economic depression is the collapse of mainstream media companies and the creation of internet blogs along with citizen journalism. While this media shift is ongoing and certain, a question arises – Will the government, in further effort to keep their political-financial-media power in tact, bailout big media?
Does the [...]

“Suppose AIG goes bankrupt, it is better that AIG goes bankrupt and we have a horrible two or three years than that the whole US goes bankrupt..AIG has trillions of dollars of obligations, let them fail, let the courts sort it out and start over. Otherwise we’ll never start over.”

We hear much about institutions being too big to fail, and so, the taxpayer is expected to bear any cost to save large financial companies. We think that the more relevant question to ask is whether these institutions are too big to save?
With the passage of the most recent bailout bill, the taxpayer is now [...]

In an effort to curb the growing loan deficiencies and defaults, American Express is offering its cardholders a $300 gift card to close their account and pay off the balance by May 1st.
The scheme comes as ratings agencies have warned that rising credit-card delinquencies could push the charge-off rate into the double digits by [...]

The American Recovery and Reinvestment Act (Bailout bill du jour) calls for the launching of a new website, Recovery.gov. The site is now live.
According to the website:
Recovery.gov is a website that lets you, the taxpayer, figure out where the money from the American Recovery and Reinvestment Act is going.
We’ve spoken about the launch of Obama’s [...]

Leader Boehner’s revelation — “Not one member has read this bill”