straight-talk

Caution! Edgy Language and Straight Talk Follows

The rapidly collapsing financial situation in Spain finally appears to be forcing the European Central Bank into action.  Early Thursday morning, European Central Bank President, Mario Draghi, surprised the markets by announcing he’s ready to take more forceful action to save the euro zone. Specifically, he said, “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.”…

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CNN-Money

Dumb and dumber: Avoid the big banks

NEW YORK (CNNMoney) — Looks like Twitter isn’t the only company with a fail whale. JPMorgan Chase’s stock plunged more than 9% Friday following the revelation of a surprise $2 billion loss tied in part to hedges by a British-based JPMorgan trader dubbed the London Whale.

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Why the Economy Might Not Be as Bad as You Think

Banks have better balance sheets and corporate earnings are strong. When it comes to the U.S. economy, there’s a lot of “gloom and doom” out there—bad news sells. Nevertheless, here are a few points about the U.S. economy that you may not have heard about: Banks are better off. The FDIC reports the number of banks that they consider to be in trouble on a quarterly basis. At the end…

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