Saturday, May 22, 2010
Any investor who wants to gauge how serious the stock market’s retreat is need only know the Standard & Poor’s 500 Index has fallen below its low on May 6, when panic selling prompted calls for reform.
The equity index retreated 3.9 percent yesterday in its biggest loss in 14 months, sinking to 1,071.59, and slipped as low as 1,055.90 today. That compares with 1,065.79, the low two weeks ago when $862 billion was wiped out in 20 minutes. The options market benchmark known as the VIX soared 30 percent to 45.79 yesterday, meaning expectations for volatility are the highest in 13 months. (more)
This is an amazing true story with documented facts and detailed instructions on how to get your house 100% Free & Clear from “The Gangster Banksters”
A “Must Read & Listen” for anyone who wants the “Truth” regarding how you have been “Deceived” by the N.W.O. Gangster Banksters and the best part is there are detailed instructions on how you can get “Your Remedy”
FREE download of book, click here
listen to audio, click here
Though the commission’s task is to come up with ways to limit future deficits to 3 percent of GDP, the 3 percent limit is “just a hoop for the clowns to jump through,” says Casey.
“U.S. government finances are now past the point of no return,” Casey researchers write in a report. (more)
32 States Have Borrowed from the Federal Government to Make Unemployment Payments; California Has Borrowed $7 Billion
The state of California has borrowed $6.9 billion. Michigan has borrowed $3.9 billion, Illinois $2.2 billion.
Below is the full list of the 32 states (and the Virgin Islands) that have borrowed from the Fed to make unemployment payments, and the amounts that remain borrowed as of May 20 . (Numbers in red are billions) (more)
Poor loan performance in other sectors also continued to hurt banks, with the total number of loans at least three months past due climbing for the 16th consecutive quarter, FDIC officials said in a briefing on Thursday.
"The banking system still has many problems to work through, and we cannot ignore the possibility of more financial market volatility," FDIC Chairman Sheila Bair said. (more)