Ecomomic Crisis
Daily News and Updates


  1. Director’s Blog: The Long-Term Budget Outlook
  2. Follow the money: Bailout tracker

Friday - July 31, 2009:

  1. Big changes for state tax laws
  2. Stocks spike to new 2009 highs
  3. D_C_ Council Tentatively Approves Hikes in Gas, Sales and Cigarette Taxes
  4. Economy Watch Nintendo Wii Sales Drop for First Time
  5. Exxon earnings plunge 66%, miss estimates
  6. Sharp Posts $265 Million Quarterly Loss
  7. States Slash Health Programs In Budget Crisis
  8. Study: Bank Bonuses Far Exceeded Profits
  9. Unemployment spreads distress in U.S. home loans
  10. Unpaid property taxes hit cities
  11. Where bailout money goes to die

Thursday - July 30, 2009:

  1. Conyers Sees No Point in Members Reading 1,000-Page Health Care Bill--Unless They Have 2 Lawyers to Interpret It for Them
  2. Dollar Falls to 2009 Low as Economic View Reduces Safety Demand
  3. Exploiting public ignorance
  4. Jobless rates rise in US cities for sixth month
  5. Kaye drops $16M Fla_ university pledge
  6. US, China have pointed questions in private
  7. Ormet May Lay Off Hundreds of Employees
  8. Russia's top gold producer reports 14% output drop in 1H09
  9. Subprime mortgage companies warn on US foreclosures
  10. Why this recession feels so bad

Wednesday - July 29, 2009:

  1. AIG Unit Keeps $2.4 Billion From Sales as U.S. Waits
  2. Bank Of America Planning To Cut 10 Percent Of Branches: Report
  3. Credit card debt rises faster for those 65 and older
  4. Foreclosures Are Often In Lenders' Best Interest
  5. Russian gas firm Novatek posts 24% net profit drop in 1H09
  6. Small Banks at Center of Overhaul Debate
  7. Stocks, oil off on fall in U.S. consumer confidence
  8. Schwarzenegger signs budget with more welfare cuts
  9. The great home lending rip off Families pay £1,800 a year too much on mortgage
  10. TNK-BP reports 56.5% net profit plunge to $2 bln in 1H09
  11. Russia suspends about 80% of construction projects amid crisis
  12. Traders Blamed for Oil Spike
  13. U.S. Consumer Confidence Falls More Than Forecast
  14. U.S. Assures ‘Concerned’ China It Will Shrink Deficit
  15. U.S. housing turning corner but consumer mood darkens
  16. Will Dow hit 10,000 this year?

Tuesday - July 28, 2009:

  1. Chinese workers beat manager to death; farmers block highway
  2. Darling's anger as bailed-out banks bump up loan rates
  3. Financial woes spur Ukrainian group to cut programs
  4. Gazprom Neft posts 56.5% net profit drop to $850 mln in 1H09
  5. Israeli Firms Outperform Stock Market
  6. New-home sales soar in June
  7. Russian oil firm LUKoil reports 27% drop in net profit in 1H09
  8. US jobless rate to stay high: Bernanke
  9. Verizon to cut 8,000 employee and contractor jobs, won't be hiring much until recession ends
  10. Wages rise as employment falls

Monday - July 27, 2009:

    Sorry, No Real News To Report This Morning

Sunday - July 26, 2009:

  1. De Beers 1H Sales -54%, Profits -99%
  2. Dodd Says U.S. Shouldn’t Rule Out Helping CIT Avoid Bankruptcy
  3. Six Georgia bank subsidiaries closed
  4. Weak economy pushing Russia to arms deal Biden

Saturday - July 25, 2009:

  1. California Senate approves state budget bills
  2. Brussels lays out restructuring agenda for banks
  3. Millions wait for delayed jobless checks
  4. Russia's federal budget deficit may hit $96 bln in 2010
  5. Sec. Geithner testifies before House panel
  6. U.S. Economy: Consumer Sentiment Falls on Job Concern
  7. U.S. Home Vacancies Hit 18_7 Million on Bank Seizures
  8. UK: GDP falls faster than expected
  9. World markets brush off Microsoft earnings

Friday - July 24, 2009:

  1. Dow Rises Above 9,000
  2. Home Resales in U.S. Increased More Than Forecast
  3. New jobless claims rise, but total claims lowest since April
  4. On Wall Street, Compensation Is Rocketing Back to Pre-Crisis Levels
  5. Report: Toyota to end Calif. joint venture with GM
  6. Russia's June GDP down 9.6% - Economics Ministry
  7. Wall Street jacks up pay after bailouts

Thursday - July 23, 2009:

  1. British industry faces a long slog out of the recession, CBI says
  2. Calif. budget deal doesn't end IOUs
  3. Inmate release plan imperils state budget pace
  4. Kucinich Asks ‘Is the Fed Paying Banks NOT to Loan Money?'
  5. Morgan Stanley sets aside $3.9bn to pay staff bonuses
  6. Obama's motto: Just keep spending
  7. Toyota says it's no longer profitable in North America
  8. U.S. could take over pensions for Delphi’s hourly workers

Wednesday - July 22, 2009:

  1. CIT warns about bankruptcy, sees $1.5 billion loss
  2. Continental Airlines cuts 1,700 jobs
  3. Schwarzenegger reaches California budget deal
  4. Summers Urges Banks to Lend More, Says Growth Pace 'in Doubt'
  5. UK budget deficit hits record high in June Business
  6. UN reports massive financial shortfall in humanitarian aid
  7. Unemployment could undercut U.S. recovery Bernanke

Tuesday - July 21, 2009:

  1. 9 reasons the economy won't recover soon
  2. A nation of renters - Obama's dream?
  3. As economy bites, White House delays budget review
  4. Do Intel's numbers spell recovery
  5. Financial Rescue: I.G. Says Banks Funneled TARP Aid to Various Expenses
  6. Netanyahu and ministers to take 5% pay cut
  7. Some Fear N.Y. Fed Too Heavily Influenced by Wall Street Ideology
  8. Two networks mute on CBO's financial prediction
  9. U.S. recession easing but likely not over survey
  10. Under bills, U.S. would funnel more money into diplomacy
  11. Watchdog Potential support of financial sector near $24 trillion, actual spending much lower

Monday - July 20, 2009:

  1. Banks report using government assistance for loans
  2. Calif. budget cuts could cost later
  3. California closes state offices to save cash
  4. Dollar, Yen Fall Most Since May on Economic Outlook, Earnings
  5. Fischer: Israel One of World’s Safest Places for Investors
  6. Mendota loses only bank branch
  7. Regulators shut banks in Calif., Ga. and SD
  8. Unemployment tops 10 percent in 16 states in June
  9. White House sees GDP showing signs of progress

Sunday - July 19, 2009:

  1. CIT talks to bondholders; bankruptcy still feared
  2. Georgia, South Dakota banks closed
  3. Global Agenda Up, up and - where?
  4. Michigan unemployment tops 15%
  5. Ohio jobless rate tops 11% for June
  6. State tax revenues plunge in down economy

Saturday - July 18, 2009:

  1. 2nd furlough begins as Calif. budget talks stall
  2. Bank of America credit losses soar, profit falls
  3. Citigroup cuts nearly 30,000 jobs in second quarter
  4. Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt’
  5. Cuts curb pickups of trash
  6. Retail could lose 600,000 more jobs in the next year
  7. Social Security spends $700,000 on Phoenix conference
  8. States close rest areas to save money
  9. The US-China Ponzi scheme
  10. U.S. banks take center stage, economic picture mixed

Friday - July 17, 2009:

  1. Foreclosures at record high in first half 2009 despite aid
  2. Harley-Davidson slashes 1,000 jobs as profits skid
  3. JPMorgan profit tops view though credit worsens
  4. Strong bank results mask wider weakness
  5. Talks fail to break California budget impasse
  6. US initial jobless claims fall to 522,000
  7. Verleger Sees $20 Oil This Year on ‘Devastating’ Glut

Thursday - July 16, 2009:

  1. American Express halts pension payments to UK staff
  2. Bill to Aid Closed Auto Dealers Gaining Traction
  3. Ex-GM CEO gets retirement package worth over $10M
  4. Obama mulls rental option for homeowners sources
  5. Russia's GDP down 10.1% in 1H09 - minister
  6. Small Business Faces Big Bite
  7. Subprime debt's new threat to housing
  8. Unemployment jumps by record 281,000

Wednesday - July 15, 2009:

  1. BA ready to put the squeeze on business class
  2. Economic crisis far from over, WTO chief says
  3. Britain and France record highest June job cuts
  4. Goldman Sachs executives sell $700 million in stock report
  5. Goldman Sachs staff set for bumper bonuses as bank earns $38m per day
  6. Slavneft posts 4.8% drop in oil output to 9.4 mln tons in 1H09
  7. Obama: Unemployment likely to keep ticking up
  8. U.S. budget deficit passes $1 trillion for first time
  9. Who's getting hit most by layoffs

Tuesday - July 14, 2009:

  1. Calif. measure aimed at illegals' benefits
  2. French workers threaten to blow up factory
  3. Geithner to reassure Gulf allies on dollar assets
  4. Recouping £70bn pumped into busted banks will need patience, says UKFI
  5. Sarkozy calls for talks on dollar
  6. Where's that $787 billion stimulus

Monday - July 13, 2009:

  1. Ban on 100% home loans dropped
  2. More Families Are Becoming Homeless, Study Finds
  3. Shhh! Mayor Bloomberg quietly authorizes $69 million in bonuses for managers over two years
  4. Congressman: Michigan could hit 20% jobless thanks to Obama
  5. Toyota May Dissolve California Plant Venture Abandoned by GM

Sunday - July 12, 2009:

  1. AIG, U.S. Talks Focus on $250 Million in Bonuses for 2010
  2. Major banks say they will no longer accept California IOUs
  3. Mortgage defaults spread as even 'safe' borrowers falter
  4. Obama says stimulus plan to kick in later this year
  5. Poor most likely to leave California
  6. Obama rejects 2nd stimulus Give recovery time
  7. White House Eyes Bank Bailout Funds to Aid Small Businesses

Saturday - July 11, 2009:

  1. AIG may pay more bonuses
  2. Americans swap homes for hotels as recession bites
  3. BAA airports report 5.9% drop in passenger numbers
  4. Brown Manure, Not Green Shoots
  5. Government Web site needs repair
  6. More trouble ahead for housing
  7. Russia's budget deficit at $24 bln in 1H09 - finance ministry
  8. Suspended 401k matches may never come back
  9. White House Eyes Bank Bailout Funds to Aid Small Businesses

Friday - July 10, 2009:

  1. Audit: States using stimulus just to stay afloat
  2. House Dems look at surtax on the wealthy
  3. Homeless numbers include more families
  4. Scotts will close Smith & Hawken garden-store chain
  5. Warren Buffett says second stimulus might be needed

Thursday - July 9, 2009:

  1. Consumers trim borrowing by $3.2 billion in May as recession bites into investments and jobs
  2. Democrats are waivering on second stimulus
  3. G8 summit begins amid fears global economy is sinking back into recession
  4. House Republicans impatient with stimulus
  5. IBM plans to shut final-salary pension scheme
  6. NY Federation sees 11.5% fundraising decline this year
  7. Seat maker Lear files for bankruptcy
  8. Teachers and Democrats protest cuts
  9. U.S. apartment vacancies near historic high report
  10. Banks draw line over accepting Calif. IOUs

Wednesday - July 8, 2009:

  1. 1 in 4 must fight for jobless checks
  2. California - a model for U.S. economy?
  3. California Credit Rating Cut Close to Junk After IOUs
  4. Ill. gov. seeking $1B in spending cuts
  5. Pope calls for a global authority on economy
  6. U.S. consumers fall behind on loans at record pace
  7. U.S. must be open to second economic stimulus Hoyer
  8. U.S. should plan 2nd fiscal stimulus economic adviser
  9. What a tax on health benefits may mean

Tuesday - July 7, 2009:

  1. 7 ways your money is changing
  2. China officials call for displacing dollar, in time
  3. Judge approves sale of GM assets
  4. PM Brown sounds warning on economy
  5. Quarter of graduate vacancies vanish, and next year will be no better, says study
  6. Russia, India Question Dollar Reliance Before Summit
  7. Russian airline KrasAir declared bankrupt
  8. Russian gas exports down 50% to 37.8 bcm in Jan.-May
  9. Stats show 'stimulus' not very $timulating
  10. Tourists pay price as states jack up taxes to balance budgets
  11. What's next Inflation or deflation?

Monday - July 6, 2009:

  1. Calls for More Stimulus Grow
  2. Chancellor refuses to rule out pay freeze for public workers Politics

Sunday - July 5, 2009:

  1. Rising national debt may be the next economic crisis
  2. Schwarzenegger signals key budget concession

Saturday - July 4, 2009:

  1. Card issuers beating new law
  2. Gloomy job figures dash hopes for European upturn
  3. Hope for California budget deal as IOUs planned
  4. IOUs spell uncertainty for Calif. small businesses
  5. Seven banks fail, pushing the 2009 tally to 52
  6. Major nations should back dlr as key currency-Japan
  7. VTB's 1H09 net loss $846 mln

Friday - July 3, 2009:

  1. Broader U-6 Unemployment Rate Hit 16.5% in June
  2. Central Bank chief: Worst of economic crisis behind Israel
  3. Fischer: Economy Improving, but Effects of Crisis to Worsen
  4. Jobless data sends stocks reeling; Dow loses 223
  5. Oracle plans to lay off up to 1,000 in Europe
  6. Russian finance minister predicts 'inevitable' 2nd wave of crisis
  7. Russia's natural gas output down 20.8% to 274 bcm in 1H09
  8. Short of Cash, California Will Start Paying With I.O.U.’s
  9. U.S. economist Stiglitz hopeful, but warns recession not done yet

Thursday - July 2, 2009:

  1. California government declares fiscal emergency over budget
  2. Citi raises rates on millions of credit cards
  3. Feds may take possession of some California parks, if they close
  4. Feds to refinance mortgages up to 125 percent of value
  5. GM, Ford suspend production in Russia over crisis
  6. House support for Fed audit plan swells
  7. Jobs data signals hurdles amid factory glimmer
  8. Prices go up following VAT hike (Israel)
  9. US private sector cut 473,000 jobs in June

Wednesday - July 1, 2009:

  1. Bankster “Holiday” Planned for September *****
  2. 21 states force unpaid days off on workers
  3. Everything suggests that the American bonds seized at Chiasso are real
  4. Consumer confidence slides in June
  5. Delinquencies Double on Least-Risky Loans, U.S. Says
  6. GM cuts ties with Toyota in U.S. joint-venture
  7. Home Prices Fall at 18.1% Rate
  8. Investment Houses: Israel the Land of Economic Promise
  9. Israeli Foods Feel the Recession
  10. Lloyds cuts another 2,100 jobs
  11. Skyrocketing costs - the cap-and-trade legacy
  12. UK economy shrinking at fastest rate in 50 years
  13. Weak economic data signal world recovery some way off

Archives --

  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
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