Financial News Update – 12/07/09

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The Bailout Was a Wealth Transfer Scheme

Recession Seen Lasting 20 Years

Rosengren: U.S. Should Have Seized AIG

Abortion Emerges as Top Bill Threat

Obama presses Democrats on health-care bill

Copenhagen climate talks will hinge on economics

Johns Hopkins Medicine CEO: Obamacare Will Have “Catastrophic Effects” on Health-Care Safety-Net

EPA Formally Declares CO2 a Dangerous Pollutant

Copenhagen Conference Begins While The Global Warming Scare Ends

Guest Blogger: Rep. Sensenbrenner (R-WI) Says Climategate Should be in Copenhagen Agenda

Video: Harry Reid Calls 10% Unemployment “Progress”

Obamacare in the Senate: Cutting Medicare

Morning Bell: The Copenhagen Climate Comedy

The EPA’s war on carbon

AP: Obama’s closed-door open-government meeting

Harry Reid Compares Opponents of Health Care Reform to Supporters of Slavery

STIMULUS MATH: $246,436 cost per job so far

Pelosi Endorses ‘Global’ Tax to Fund Stimulus Spending, Have Wall St. ‘Pitching In’

BREAKING RULES: Lawmakers and families continue to take trips hosted by private groups, companies


Jobless professionals vie for holiday sales work

U.S. Slashes Bailout Cost by $200 Billion


24 States Borrow Money To Pay Unemployment Benefits

Wall Street and Housing Neurosis: The Real Cost of California Homeownership. Extreme Foreclosures, Option ARMs, Renting Utility Costs, and Breaking the Financially Twisted Psychology.

Heh, I Thought Dubai Was a Non-Event.

Chinese Official Slams Western Banks Over Derivatives

Gold Will Reach Mind-Boggling Levels

High US Jobless Rates Could be New Normal

Japan’s Recovery Stumbles

China Wary of Gold “Bubble” Danger After Doubling its Reserve.

Recent World Events Indicate Impending Market Chaos.

Taxpayers in 29 States Hit With Higher Taxes

This is Progress? Jobs Data Optimism Obscures Harsh Reality

U.S. Bank Failures Continue Apace.

Financial institutions urged to make banking accessible

UN says global economy will bounce back in 2010. [Again, one for the Economic Humor section.]

Goldman Sachs December Party Ban: No Groups of 12 Or More. So, 10 lords a leaping, nine ladies dancing is totally OK. But if you see 12 bankers — they’d better be banking!

Most Americans Not Confident About Financial Future

Stocks Mostly Rise as Fed Sees Improving Economy

Senator Moves to Block Bernanke Confirmation

BofA to Repay TARP, Raise Cash

Ample Supply of Oil Drives Prices Below $77

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