Lions Ex-Stadium, Once Super Bowl Host, Sells for $583,000
bloomberg.com — How tough are times in Detroit? It cost more than $55 million to build the Silverdome football stadium in Pontiac, Michigan. Yesterday, it sold for the price of a one-bedroom apartment in Manhattan. (Submitted by WordsnCollision) More...
Republican Wins May Make Democrats Cautious on Obama Agenda
bloomberg.com — Republican victories in the New Jersey and Virginia gubernatorial races may make some congressional Democrats more leery of backing key elements of President BarackObama's agenda because of the political price they could pay, analysts said. (Submitted by bettverboten) More...
CIT Files Bankruptcy; U.S. Unlikely to Recoup Money (Update3
bloomberg.com — CIT listed $71 billion in assets and $64.9 billion in debt in a Chapter 11 filing in U.S. Bankruptcy Court in Manhattan. The U.S. Treasury Department said the government probably won’t recover much, if any, of the $2.3 billion in taxpayer money that went to CIT. (Submitted by inactive) More...
Federal Reserve Policy Audit Legislation "Gutted" Paul Says
bloomberg.com — Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been "gutted" while moving toward a possible vote in the Democratic-controlled House. (Submitted by TwinTurboMike) More...
Russian Banks Count Pigs
bloomberg.com — We had a court decision to take away the collateral, which is the pigs,” Lebedev, 49, said in an interview in Moscow. The borrower, a farm near Samara on the Volga river, agreed “with the local authorities to establish a quarantine” against African swine fever. (Submitted by swiftsurfere) More...
Bloomberg.com: U.S. Risks Japan-Like Economic 'Lost Decade'
bloomberg.com — U.S. officials contemplating an exit from record fiscal stimulus are in danger of repeating mistakes that plunged Japan into its lost decade of stagnant growth, according to Richard Koo of Nomura Research Institute Ltd. "This isn’t a cold, its more like pneumonia," said Koo, author of "Balance Sheet Recession." (Submitted by TheEngineer2008) More...
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