ShareThis is classic.

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ShareThe Canadian daily National Post has a good piece out today that highlights how the ‘Buy American’ provision is being seen in Canada.  Many see it as an affront that America could and would favor domestic firms over those of its largest trading partner and next-door neighbor despite the North American Free Trade Agreement.
For the [...]

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ShareOf the five, United Commercial is pretty darn big ($11.2 billion in assets)
United Commercial Bank San Francisco, CA
As of October 23, 2009, United Commercial Bank had total assets of $11.2 billion and total deposits of approximately $7.5 billion. East West Bank paid the FDIC a premium of 1.1 percent for the right [...]

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ShareChina on Friday accused the US of protectionist and biased trade policies less than a week before president Barack Obama’s first visit to Beijing.
In a stinging rebuke to Washington, China’s commerce ministry promised to take measures to protect its domestic industry after the US slapped anti-dumping duties on $2.6bn of Chinese steel pipe imports. [...]

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ShareIn my recent post about the capture of the Obama Administration by the financial services lobby, I said it was irrelevant whether they were deliberately looking to line the pockets of the banking industry. This is an important point as you decide whether to donate campaign money, how or whether to vote, and who to [...]

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ShareWhile I see the job numbers as pretty much what was expected, the data do make clear that we are seeing a major jobless recovery. David Rosenberg has a piece out today that goes right to the heart of the issue:
All we can say is that if the overwhelming consensus is correct that the recession [...]

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ShareDavid Michael Green: Can You Hear Us Now?
We still want change. Hat tip Lavrenti.

Marc Faber has short term concerns about commodities, says gold may drop to US$800 – Business Intelligence Middle East
Is this rally over the top yet?

Insolvencies hit record high
Up 28% in Britain

RBS bank reports losses of £2.2bn
Britain’s bottomless pit. Much worse than Lloyds

Fannie [...]

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ShareThe Obama Administration is captured. To understand why it has acted as it has, one doesn’t have to take the view that its efforts to save the banking industry were a deliberate attempt to line bankers’ pockets by transferring money from taxpayers to the banking industry. One need merely read the last post I wrote [...]

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ShareThe employment market is pretty grim. We’re talking a double digit unemployment rate – and that’s just the base rate. The comprehensive unemployment rate is now 17.5% in the US.  This is a fact not lost on our politicians. Today, Barack Obama signed a bill that extends unemployment benefits and home buyer tax credits. But,, [...]

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ShareAverage weekly hours a record low of 33.0. Stock futures now down. The household survey says we have lost 1.3 million jobs in three months. 17.5% U-6 unemployment. Median duration of unemployment is now 18.7 weeks from 15.4 just 3 months ago – ugly.
Here is an excerpt from the release (bolding added).
The unemployment rate rose [...]

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