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MultimediaNews
- -Is Obama's Stimulus Working? (CNN News)
Panelists discuss the situation. 01-10
Papers
- -04-16-10 How Goldman Sachs Committed Alleged Fraud (Huffington Post)
"How does this affect the rest of us? Per the New York Times, the "creation and sale of synthetic C.D.O.’s helped make the financial crisis worse than it might otherwise have been, effectively multiplying losses by providing more securities to bet against."
" 'When you buy protection against an event that you have a hand in causing,' said a structured finance expert, 'you are buying fire insurance on someone else’s house and then committing arson.' " 04-10
- -04-20-10 AIG a Victim of Goldman (CNN News)
"It's hard to think of AIG as a victim after the insurer made failed bets that were so big, taxpayers were forced to bail the firm out to the tune of $182 billion."
"The troubled insurer's downfall stemmed from insurance contracts (credit default swaps) on assets called collateralized debt obligations owned by Wall Street firms including Goldman Sachs. Those CDOs were made up of mortgage securities, which plummeted in value when the bottom fell out of the housing market."
"AIG was forced to raise billions of dollars in collateral in order to insure against the CDOs' losses." 04-10
- -04-20-10 New $100 Bill Announced (CBS News)
"The folks who print America's money have designed a high-tech makeover of the $100 bill. It's part of an effort to stay ahead of counterfeiters as technology becomes more sophisticated and more dollars flow overseas, Federal Reserve Chairman Ben Bernanke says."
"The new blue security ribbon will give a 3-D effect to the micro-images that the thousands of lenses will be magnifying. Tilt the note back and forth and you will see tiny bells on the ribbon change to 100s as they move."
"But that's not all. Tilt the note back and forth and the images will move side to side. Tilt the note side to side and the images will move up and down."
"In addition, to the left of Franklin's portrait, will be an inkwell that will change color from copper to green when the note is tilted. The movement will also make a Liberty Bell appear and disappear inside the inkwell." 04-10
- -04-27-10 Editorial: Goldman Executives Still Don't Get It (CNN News)
"I've been watching the hearing on TV, and I am nauseated to report that they still don't get it. The world came to the brink of financial ruin, and the people driving the mortgage securities death-machine still can only look back and say that at the time it all made sense. To say that the Goldman Sachs executives testifying lack introspection is like saying that the Black Death was a minor health scare." 04-10
- -07-21-10 Financial Reform Bill Passes (CNN News)
"President Obama will sign into law Wednesday the Wall Street reform bill -- the most-sweeping set of changes to America's financial regulatory system since the 1930s."
"The bill aims to strengthen consumer protection, rein in complex financial products and head off more bank bailouts." 07-10
- Medicare Advantage Cuts Could Affect Millions (U.S. News)
"Democrats say they're not trying to kill the program, but they are trying to change it. Between the House and Senate healthcare bills, they've proposed cutting $120 billion to $150 billion from Medicare Advantage over the next decade. The savings are a major slice of how Democrats intend to pay for reform." 11-09
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