U.S. Treasury Says Financial Crisis Is Over But The Next One May Be Right In Front Of Us

According to the U.S. Department of the Treasury, the worst of the financial crisis is now behind us and the TARP bank bailout program has generated positive returns. In an article entitled “The U.S. Economy in Charts”, the Treasury Department notes that the economy is gradually getting stronger as evidenced by 10 straight quarters of […]

European Banking Crisis Spins Out Of Control – Officials Have No Solutions

The European banking crisis intensified as the threat of debt default contagion spread across Europe.  What was once a “Greek” problem has quickly overwhelmed all of Europe, resulting in a broad sell of equities and frozen credit markets.  Bloomberg reports that European banks are now being valued at levels last seen during the worst of […]

S&P Downgrades US Debt – Feds Tell Banks US Securities Still “Riskless”

The credit rating of the United States was downgraded for the first time in its history by Standard & Poor’s.  The credit rating agencies had previously warned Congress that unless a credible deficit reduction plan was enacted, the United States could expect a downgrade. Standard & Poor’s reduced the US credit rating from AAA to […]