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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Monday, March 2, 2009

Weekend News Round-up

UPDATE 2/3/9 @8:30 am - some "good" news from government statistics, personal spending up - My Spin - Lets see if this can help stem the tide of selling
USO called self-propelled pyramid
- My Spin - I fell for USO, but as blogged, flipped all to USL. As I said, there is no way to buy oil in general as an investment. OIH closest to reality by buying oil companies. USO may not have good price action this week...
Bank of America discloses 44 Billion in losses - My Spin - I now trust all the toxic assets by BOA are properly assessed now.....don't you?
HSBC plans to halt personal loans, mortgages: report
HSBC shares suspended from trading in Hong Kong - My Spin - NO COMMENT
HSBC slashes 6,100 U.S. jobs, sets huge share sale - UPDATE 3/2/9 - 8:30 am
Banking in Australia, ANZ, CBA, Westpac Outlook Cut to Negative by Moody’s
UK rates may rise before upturn, says ex-BoE deputy - My Spin - USA will also get hit with borrowing spree cost of higher interest eventually
EU Rejects Eastern Europe Bailout
Boomers: 30% underwater - My Spin - OMG, this is worse than I thought, if this many boomers are basically bankrupt, those of us left with a job are going to get the taxed hard in years to come.
Ireland on the brink of collapse - My Spin - If Ireland and England goes, europe can't be far behind.....
Berkshire Profit Plunges 96% on Stock Market Bets
FDIC needs more money for bank failures - My Spin - FDIC should be the ONLY bailout the US government supports

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