Bob McCarty Writes

Barry Ritholtz, author of the soon-to-be-published book, “Bailout Nation,” might have summed up the nation’s financial crisis and subsequent government bailout efforts best when he wrote, “Go figure: WWII was a relative bargain.” In a post published yesterday on his blog, The Big Picture, Ritholtz reveals research findings that show the government’s $7.75 trillion in [...]

[Read more →]

In a post two hours ago, I broke posted news about John McCain suspending his campaign — and calling upon Barack Obama to do the same — in order to work on perhaps the greatest economic crisis ever to face the United States.  Now I wonder whether or not the Republican presidential nominee might have [...]

[Read more →]

Below is the text of an FDIC news release about today’s collapse of IndyMac Bank: IndyMac Bank, F.S.B., Pasadena, CA, was closed today by the Office of Thrift Supervision. The Federal Deposit Insurance Corporation (FDIC) was named conservator. The FDIC will transfer insured deposits and substantially all the assets of IndyMac Bank, F.S.B., Pasadena, CA, [...]

[Read more →]

The Libertarian Party Convention caught the attention of the financial press today, but for different reasons. Under the headline, Being Ron Paul, the Wall Street Journal ran an article this morning about the convention which starts today in Denver — but without the Texas Congressman. WSJ writer Collin Levy describes Paul as the party’s real [...]

[Read more →]

The last time an Oprah Winfrey endorsement backfired, the talk show diva did not sit idly by and watch her reputation tank. Instead, she brought the perpetrator of the “crime” — A Million Little Pieces author James Frey — back to her show for a televised verbal flogging. Today, some in the media* are saying [...]

[Read more →]

When it comes to members of the mainstream news media and their penchant for making dire predictions about the economy, no one describes the phenomenon better than world-famous salesman and motivational speaker Zig Ziglar: “The media has accurately predicted ten of the last two recessions.” One news outlets, The Independent, opted to take this approach [...]

[Read more →]

Almost a year ago, Bloomberg News broke the news of Russian President Vladimir Putin’s grandiose plans to build a tunnel linking his nation and Alaska. Today, news about the bridge-building project is back. The UK’s Times Online reports that former KGB spy chief Putin plans to share his bridge-building plan with President George Bush when [...]

[Read more →]