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The biggest five banks in the United States are too powerful and should be broken up, Dallas Fed President Richard Fisher said on Wednesday.
The financial crisis had left the five biggest banks even more powerful than before, he told an event in Mexico City.
“I believe personally that they should be broken up,” Fisher said.
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Filed under: Uncategorized, mortgage by Forest
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Procter & Gamble announced plans Thursday to cut 5,700 positions globally by June of next year.
In a presentation to the Consumer Analyst Group of New York, Procter & Gamble () CEO Bob McDonald and CFO Jon Moeller said the cuts were part of a plan to save $10 billion in costs by 2016. […]
Filed under: management, term by Forest
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Federal Reserve Bank of St. Louis President James Bullard said the 30 percent drop in U.S. housing prices since 2006 may prompt a generational shift to apartment rentals.
Filed under: interest rate, uk by Forest
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A semiofficial Iranian news agency quotes a senior military commander as saying that Tehran will strike pre-emptively at its enemies, if it feels it is in danger.
The comments by deputy head of Iran’s armed forces Gen. Mohammed Hejazi were carried by Fars agency on Tuesday.
“We do not wait for enemies to take action against us,” […]
Filed under: Uncategorized, money by Forest
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U.K. retail sales unexpectedly rose for a second month in January, adding to signs the economy may strengthen in the current quarter and avoid a recession.
Sales including fuel rose 0.9 percent from December, when they rose 0.6 percent, the Office for National Statistics said today in London. Economists forecast a 0.3 percent decline, according […]
President Barack Obama called for $1.4 trillion in fresh revenue from Americans at the top of the income scale, proposing higher taxes on wages and investments and limiting breaks for retirement savings and health insurance.
The tax proposals in the administration
Greece gave in to more painful spending and job cuts Thursday, only to have European ministers question whether they were enough to deliver a euro130 billion bailout and stave off bankruptcy.
Greece’s new austerity plan, which makes sharp cuts to the minimum wage and thousands of public-sector jobs, ignited fresh criticism from unions and the country’s […]
America is filled with lawyers, and lawyers sue people. Then those people hire more lawyers to ward off the suing lawyers. It’s all gonzo business for lawyers and a nagging little worry for the rest of us.
Most of us will never get sued. Still, it’s worth looking at ways to protect assets in case a […]