SubscribeLinks and Reading for August 7th
August 7, 2009 10:00 pm
Some of the more interesting and important items for August 7th :
- Bank of America lost money in U.S. in second quarter | Reuters – Hmmmm….Interesting or who cares?
- Geithner asks Congress for higher U.S. debt limit – 12,000,000,000,000 is not so much
- Congress Adds $2 Billion to `Cash for Clunkers’ Program as Funds Run Out – Only $2 more. That is a relief
- Goldman Sachs’ Cohen: New bull market has begun – Whatever they say……
- Nasdaq to stop offering flash trading Sept. 1 (AP) – Less than an month…
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I'd add to this list one more link:
U.S. Consumers Reduce Debt for Fifth Month in a Row
http://online.wsj.com/public/article/SB1249671842…
Consumer credit outstanding fell at a seasonally adjusted annual rate of 4.9% to $2.503 trillion, according to Federal Reserve data. The drop outpaced analysts' expectations.
The big retreat in borrowing points to weakness in the economy even as hints of recovery emerge.