Financial News Update – 05/24/10

Stock Market Catastrophic Down Wave, Coming Economic Calamity Could Lead to a New World Order (Hat Tip: Jean Stoner)

California Dems Unveil Tax-Increase Package

32 States Have Borrowed from the Federal Government to Make Unemployment Payments (Hat Tip: Jean Stoner)

UPDATE 3-Obama seeks tool to cut costs from spending bills

The New Lords of Finance

Morning Bell: The Buck Stops Nowhere

Side Effects: Seniors Will Lose Big Under Obamacare

House Democrats Schedule Floor Vote on DISCLOSE Act

The Entitlement Spending Threat to National Security

Study Points to Health Law’s Penalties (Hat Tip: Jean Stoner)

Report: Healthcare law tax credits encourage small businesses to stay small, not hire (Hat Tip: Jean Stoner)

HEALTH REFORM BY CLOWARD AND PIVEN (Hat Tip: Jean Stoner)

Spanish Bank Rescue Hits Euro (Is Spain the next European domino to fall?) (Hat Tip: Jean Stoner)

Fiscal crises threaten Europe’s generous benefits (Hat Tip: Jean Stoner)

Texas Rangers file for bankruptcy (Hat Tip: Jean Stoner)

Teachers’ unions demand another bailout

Obama’s Nominee to Run Medicare: ‘The Decision is Not Whether or Not We Will Ration Care–The Decision is Whether We Will Ration Care With Our Eyes Open’ (Hat Tip: Brian B.)

63% Favor Repeal of National Health Care Plan (Hat Tip: Brian B.)

The United Nations and U.S. Tax-Free Foundations Investigated (Hat Tip: Jean Stoner)

Gold Is A Horrible Investment, Too, Says Prechter (Depression Foregone Conclusion) (Hat Tip: Jean Stoner)

Lawmaker Introduces $165 Billion Union Pension Bailout Bill (Hat Tip: Jean Stoner)

Health-care law faces test as regulators settle which plans must do what (Government takeover!) (Hat Tip: Jean Stoner)

Read the ‘Reduce Unnecessary Spending Act’ (Hat Tip: Jean Stoner)

Hyperinflation Guaranteed

Municipal Bonds: The Next Financial Land Mine? (If even this isn’t safe, what is?) (Hat Tip: Jean Stoner)

Stocks Hammered In Final Minutes Of The Day: Here’s What You Need To Know (Hat Tip: Jean Stoner)

Crony Capitalism, Carnahan Style (All in the family alert) (Hat Tip: Jean Stoner)

Up Next… Dems Propose Union Pension Bailout

Obama Seeks Line Item Veto Legislation That He Voted Against in 2007

Stunner. New Financial Rules May Not Curb Another Major Meltdown

Gold Rising; Speculators buying faster than producers can mine

Sen. Gregg: Financial Reform Bill Is ‘Disaster’

US Plays Down European Crisis but China Worried

Immelt: European economy ‘teetering’

PAPER: One false move could set off ‘global chain reaction’

Dow falls 80 points in final 15 mins of trading

Iranians shout for jobs!

Workers in Venezuela on alert after Chavez warning

New UK government cuts to cause ‘shockwave’

BARONE: The gathering revolt against government spending

Congress preparing to quadruple tax on oil

Promises, Promises: Senate Takes Up ‘Emergency’ Bill

SurvivalBlog:

PIMCO’s Gross: Markets exhibiting “flight to liquidity”.

FDIC: Problem banks at 775. “A total of 775 banks, or one-tenth of all U.S. banks, were on the Federal Deposit Insurance Corporation’s list of ‘problem’ institutions in the first quarter, as bad loans in the commercial real-estate market weighed on bank balance sheets.”

Whatever Germany does, the euro as we know it is dead

Regulators Shut Small Minnesota Bank

Jobless Claims Rise By Largest Amount in Three Months

Oil Settles 2% Lower After Wild Swings

Leading US Indicator Drops Unexpectedly

Worldwide Stocks Fall for Sixth Straight Day

Behind the European Drama Lies a Global Crisis

Mish: Meredith Whitney Sees Bleak Second Half in Stock Market, Small Business Credit Crunch, Double Dip in Housing, Says European Banks in Worse Shape



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