Financial News Update – 05/11/09

Plan to Shift Military Spending Faces Skepticism

Upfront costs complicate Obama’s health care plan

U.S. threatens to rescind stimulus money over wage cuts

Fannie Loses $23 Billion – Prompting Even Bigger Bailout

Not One New Dime Until These Savings Are Proven

The End of Federalism: Big Labor Edition

CEO Confirms Treasury is Calling Shots at GM

What Employer Advantage?

Morning Bell: The Obama Jobs Deficit

24,700,000 Unemployed or Underemployed Americans: Job Losses Accelerate with 6 million unemployed over last year. Real Unemployment rate now at 15.8 Percent.

FDIC Insures $4.7 Trillion in Deposits with a $13.6 Billion Deposit Insurance Fund

UK House Prices Continue To Plummet

401(k)s Hit By Withdrawal Freezes

Global Crisis “Vastly Worse” Than 1930’s

Obamarket Update #74: You Want Stress? I’ll Show You Stress

Bond Market: Why You Should Be Worried

Boomers’ Retirement Bummer

Small Business: Economic Recovery? What Recovery?

State Budget Gaps Widen as Revenues Fall

Mike Whitney: Economy On The Ropes

Rural Town Feel Downturn’s Ripple Effects as Jobs Vanish in Northern Virginia

States Resort to Furloughs as Need for Services Increase

Bankrupt Banks

What’s Up With These Numbers?

Deficits soar even with rosy assumptions in new Obama budget

4 times 2008’s record

Government borrowing 50 cents for every dollar it spends

STIMULUS WATCH: Early road aid leaves out neediest; Auditors can’t track transportation funds

Gas price jumps to 6-month high

STRESS TEST LESS: Fed cut banks’ deficits after negotiations

Significantly scaled back size of shortfalls

NYC Starts Charging Rent at Homeless Shelters

New Antitrust Rules Going Into Effect

GM CEO Signals Bankruptcy Growing More Probable

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