Mike: Today’s big financial story is the Federal Reserve dropping its key interest rate to near 0% to help stimulate the economy and revive job growth. Let’s hope it has its intended affect: WASHINGTON (AP) — The Federal Reserve has cut its target for a key interest rate to the lowest level on record and […]

Continue reading about Fed Cuts Rate to 0%, but Housing Starts Crumble Along with Jobs – Tuesday (12-16-08)

Mike: Besides the auto bailout, the Madoff caper is the big news story fot he day. This story has many twists and turns and it will unwind on a daily basis. To me the most shocking part is the almost complete lack of regulatory control over these investment empires. The $50 billion dollars that this […]

Continue reading about Monday’s Mayhem – $50 Billion Scammed – Job Cuts at Northern Trust (12/15/08)

mike@layofflist on December 13th, 2008

Mike: The administration has yet to approve TARP funds for the Big 3 bailout, so the wait continues. Senate Republicans are demanding UAW contract concessions that seem rather hasty and ill-studied. But it’s also in the Republicans mantra to destroy unions. That union destroying obsession began in earnest during the Regan administration and the destruction […]

Continue reading about Weekend Update – Auto Bailout Wait Continues