"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Friday, April 15, 2011

World News

United States
  • The SEC is in negotiations with multiple banks (including JPMorgan Chase, Citigroup, Morgan Stanley, Bank of America, and UBS) to settle fraud allegations related to the sale of the toxic mortgage bonds that helped cause the current financial crisis.  All parties either declined to comment or could not be reached for comment.
  • Ford is expanding a recall of F-150 pick-up trucks to nearly 1.2 million vehicles built between 2004 and 2006.  Safety regulators are concerned about a wiring fault that could cause the airbag warning lamp to turn on and the airbag to deploy.

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