Financial & Economic Blog

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U.S. stock futures turned higher Friday after Citigroup's quarterly loss turned out to be not quite as bad as Wall Street expected.

U.S. stock futures turned higher Friday after Citigroup's quarterly loss turned out to be not quite as bad as Wall Street expected.

Read full story for latest details.

Read full story for latest details.

Read full story for latest details.

A few months back, Fortune asked me to move from New York to Los Angeles, and I readily said yes. From the canyons of Sixth Avenue in New York, the Hollywood studios seemed like just one tentacle of the information conglomerates, and one that was increasingly less central to their futures. And yet, whenever I came to LA, I was impressed and slightly bemused by the sense that the denizens of "the industry" there still believed that the media universe orbited around their stars - their mostly distant corporate overlords be damned. In one important respect they are right: Regardless of the relative profitability of film and TV programming, it remains the principal engine that drives the dream factory of popular culture.

Fuel prices at the pump fell overnight, a nationwide survey of gas station credit card swipes showed Thursday.

Evil has finally gripped the hands of many Americans laughing on its way to riches from troubled financial institutions. Evil has no face but runs in blood in the heart of man. Evil creates greed and cheat among us. Things that are near seem very far, and things that are so far seem so near, but can't get them! All are the illusion of the century. That sounds like the soul of the evil crippling in every innocent man.

The property world seems so far away in time with millions of life depending on it but it had crippled. Soon, the credit card scam plumbs onto the feet of the innocent souls.

Just look at the news!

"Abstract greed and the invisible hand play apart. Digitisation promotes an amoral mentality, irresponsibility and estrangement"

"The superman of Nietzsche perceives that acts beyond good and evil dissembled financial institutions. Brokers and traders often have training in neo-classical economics, promoting certain personal convictions"

"Brokers neglect dimensions of ethics beyond explicit rules"

"One of the largest US mortgage lenders, the California-based Indy Mac Bank, has collapsed amid a growing credit crisis."

"Federal regulators seized the bank's assets, fearing it might not be able to meet withdrawals by depositors"

"It is the second-largest financial institution to fail in US history."

"The failure came on a day when shares in the two biggest US home loan institutions - Freddie Mac and Fannie Mae - fell at one stage by almost 50%.”

"Indy Mac had been struggling to raise funds and stay in business in one of the state’s worst hit by the US housing market slump."

"The bank's primary regulator, the Office of Thrift Supervision (OTS), said depositors had withdrawn more than $1.3bn in the past 11days."

"This institution failed today due to a liquidity crisis,"

"Hedge funds scramble as SEC cracks down."

We hope the good force is with us and in all affected innocent Americans. God shall be with us all.

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