The major US banks namely Citi group, Bank of America and Morgan Stanley, have all indicated that year 2009 has started on a profitable note. All these bankers have indicated that they have made decent profits in the first two months of this calender year.
This positive indication has come at the right time, and [...]
Last year AIG said that it needs 60 billion dollars from the government to avoid bankruptcy, which the Bush administration gave sincerely with no questions. Within months of receiving and swallowing that amount, AIG again asked for another 110 over the next few months, under the pretext that the real estate melt down and job [...]
The US government has already exhausted all the available tools to prop up their sagging economy, over the last one year. Tax rates have been cut drastically, duties and levies for critical industries have been reduced, social spending by the government has been accelerated to record levels, and bank interest rates have been reduced [...]
