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Bank of America posts loss on mortgage problems

Joe Rauch and Maria Aspan CHARLOTTE, N.C./NEW YORK, Jan. 21, 2011 (Reuters) — Bank of America Corp, the largest U.S. bank, reported weaker-than-expected revenue and a second straight quarterly loss...

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U.S. Treasury Secretary Admits U.S. Default is Imminent

By James West Timothy Geithner, U.S. Treasury Secretary, admitted in a letter to congress dated January 6th, that the United States Treasury would be forced to default on its credit obligations without...

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Gold is to China as paper currency is to US

Bill Bonner We’d still like to see a deep decline in the gold price. Too many people are getting onto gold. Most of them have no idea of what they are doing. Like readers of MONEY magazine, they’re...

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Middle Class Shrinking; Poverty Class Expanding

No Jobs, No Hope, No Future: 27 Signs That America’s Poverty Class Is Rapidly Becoming Larger Than America’s Middle Class In the America that most of us grew up in, most Americans considered themselves...

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Seven Reasons We’re Buying a Home and Four Reasons We’re Not

irvinehousingblog.com Although the housing bubble and bust may have shattered notions that home prices have nowhere to go but up, Americans haven’t lost their love for owning a home.  In the latest...

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