Matt Taibbi on the Great American Bubble Machine

In what can almost be described as an "Economic Meltdown For Dummies," Matt Taibbi's article "The Great American Bubble Machine" in the latest issue of Rolling Stone is a great primer on the machinations behind the current ... continue

Ken Karpman: from Hedge Fund CEO to Pizza Driver

Meet Ken Karpman. The UCLA MBA graduate is a former hedge fund CEO earning $750,000 a year. During his glory days, he traveled the world, purchased a huge house, and spent up big. One small problem though: ... continue

Depression Cooking with Clara a hit on YouTube

Youtube may have created its oldest star. 91 year old great grandmother Clara Cannucciari has started Depression Cooking with Clara, an instructional cooking series focused on recipes from the Great Depression. The pitch is simple: American has fallen ... continue

Interesting: Amex paying card holders to close their accounts

Need to get higher risk clients of your books? One way is to pay them to leave, and that's exactly what American Express is doing. Amex is paying a number of card holders $300 to close their accounts. "We ... continue

Rick Santelli flips out over foreclosure relief (video)

CNBC's Rick Santelli isn't a happy man. In a cross to the trading floor of the Chicago Mercantile Exchange, Santelli, backed by a cheersquad of traders rallied against President Obama's plan to not immediately foreclose on homeowners behind ... continue

GM Viability Plan: 47,000 jobs to go, Saab, Hummer and Saturn for sale, may close

General Motors (GM) will slash 47,000 jobs and attempt to sell off prime brands as part of a viability plan submitted to the US Government. GM was required to submit the viability plan as a condition of receiving ... continue

Just Do It: Nike Layoffs will see 1400 people go

Shoe companies aren't immune to the global recession, with Nike set to announce layoffs of 4%, of 1400 people of form its 35,000 strong global workforce. Nike is headquartered in Portland, Oregon and employs 7,000 people in the ... continue

Win: Obama caps executive salaries at $500,000

President Barack Obama announced Wednesday that companies receiving Government assistance under the $700 billion bailout will be restricted to a $500,000 salary cap for top executives. “We all need to take responsibility" said the President, and that people ... continue

Recession Causes Car Thefts To…..Decrease

The ruling orthodoxy on socio-economics is that difficult times drive a rise in crime, but maybe as a sign of how bad things may have become, at least one crime is decreasing: car theft. In Baltimore, the number ... continue

States Now Want A Government Bailout As Well

Government isn't immune from wanting a bailout, with the Governors of New York, New Jersey, Massachusetts, Ohio and Wisconsin calling on the Obama Administration to provide a $1 trillion bailout for cash poor states. Ohio Gov. Ted ... continue

Obscene: Chrysler Spending Bailout Money on Ads Thanking America for Bailout Money

While polls showed the majority of American's did not support a bailout of the auto industry, The Bush Administration acted anyway, throwing away loaning the industry some $17 billion. So what's the first thing Chrysler does with ... continue

Now Real Estate Developers want a Bailout

Once the door is open, everyone wants a cut. Add Real Estate developers to the list of groups asking the US Government for a bailout, with loans due this year unable to be refinanced due to the ... continue