Financial News Update – 12/26/09

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Congressional Report: ACORN Didn’t Break Any Laws Promoting Child Prostitution But Filmmakers May Have

Catholic Hospitals Give Democrats Green Light on Taxpayer Funding for Abortions

Cash for Caulkers… Government Spent $2 Million of Stimulus Money to Caulk 7 Homes (Video)

Feeling Your Pain… Obamas Rent $8.9 Million Hawaii Home for Holidays

Blank-Check Bailout for Fannie and Freddie Means Taxpayers Get a Lump of Coal from Obama

Merry Christmas from the IRS: Another Year of Government Dysfunction

Bailouts, TARP…And Bowl Game Sponsorships?

SurvivalBlog:

We’re Screwed! ShadowStats.com founder John Williams explains the risk of hyperinflation. Worst-case scenario? Rioting in the streets and devolution to a bartering system.

YRC Has Until Yearend to Corral Bondholders, Avert Bankruptcy

Retailers Slash Prices After Christmas

Shoppers Return to Malls, Looking for Deals

Stores Hope Gift Cards Will Give Post-Christmas Lift

Credit Crunch: Home Equity Lending Evaporates

China Closer to Becoming World’s Second Largest Economy

US Removes Caps on Fannie, Freddie Lifelines for Three Years. This means unlimited funds to failed mortgage giants.

Treasury Yield Curve Steepens to Record on Debt Demand Concern

Schwarzenegger to seek federal bailout of California on threat of deep cuts.

Austria nationalises Hypo in ECB-backed rescue deal because of “systemic importance in the former Yugoslavia”.

Fitch: Britain and France Risk Losing AAA Rating

Thrifty Families Accused of Prolonging the Recession

UK: Families Hit By Worst Wages Crash in 50 Years

National Irish Bank Stops Handling Cash

Lack of Bank Liquidity Threatens Commercial Real Estate Market

States’ Jobless Funds Going “Absolutely Broke”

Economic Data Dump For Christmas Eve: Durable Goods Numbers “Ain’t” What They Seem

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