AIG Payments to Goldman Sachs, Banks Probed by U.S. TARP Watchdog Barofsky
Lawmakers, frustrated with the cost of an AIG bailout that expanded three times, have asked why about $50 billion was paid after the rescue to banks that bought credit-default swaps from the firm. Legislators want to know if AIG offered less to retire the contracts and whether there was any review about banks’ ability to sustain losses on the derivatives.
Trust Your Guts
Most Americans are not financial experts. It’s very difficult, nearly impossible, for normal mortals to sort through the dense policy talk and conflicting opinions to figure out if the rhetoric of reform is real. Confusion is widespread in the land. Most Americans want to believe this president is leading us out of the swamp, but how can they know? I say, trust your gut feelings. They are as reliable as the learned experts.
U.S. May Cut Corn, Soy, Wheat Reserve Estimates on Improved Feed Demand
Rising demand for corn, soybeans and wheat in livestock feed will result in smaller U.S. inventories than the government predicted a month ago, analysts surveyed by Bloomberg News said.
Communities print their own currency to keep cash flowing
A small but growing number of cash-strapped communities are printing their own money. Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses.
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