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Obama Urges Tax On Biggest Banks To Cover Bailout

Hooray!!

Amplify’d from www.google.com

WASHINGTON — Mindful of soaring deficits and an anti-Wall Street mood, President Barack Obama wants a new 10-year tax on the country’s largest banks to cover a projected $117 billion shortfall in the government’s financial crisis bailout fund.

The president planned to propose Thursday a levy of 15 basis points, or 0.15 per cent, on the liabilities of large financial institutions to make sure every dollar spent from the $700 billion Troubled Asset Relief Program to rescue Wall Street firms, auto companies and mortgage holders is either repaid or paid for. Congress would have to approve the tax.

A senior administration official said the tax, which officials are calling a “financial crisis responsibility fee,” would apply only to financial companies with assets of more than $50 billion. Those firms - estimated to amount to about 50 institutions - would have to pay the fee even though many did not accept any taxpayer assistance and most others already paid back their government infusions.

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EEOC Releases Job Discrimination Data For 2009: It Ain’t Good

Amplify’d from civilrightsandwrongs.wordpress.com

The U.S. Equal Employment Opportunity Commission (EEOC) has announced that 93,277 workplace discrimination charges were filed with EEOC during Fiscal Year (FY) 2009, the second highest level ever.  The EEOC is responsible for prosecuting federal administrative charges of discrimination under various federal laws, including the Americans With Disabilities Act (ADA).

Monetary recovery by plaintiffs in those cases totaled over $376 million.  The data released by the Commission shows that private sector bias hit an all-time high in 2009, not surprising considering the sluggish U.S. economy.

For further information about the data release by the EEOC, you can link to the EEOC’s information here.

Discrimination In Employment Claims Hit Record High In 2009

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Omaha, San Antonio Head List Of Fastest Recovering U.S. Cities

Here’s an informative article from MSNBC, discussing which U.S. cities are recovering fastest from the recession. Links are provided to related stories, including a complete list.

Amplify’d from www.msnbc.msn.com
San Antonio, Texas
San Antonio, at No. 2, is one of many Texas cities on the list. One reason is that the housing boom was muted in the state.
Though Omaha, Neb., seems second-rate to some, Warren Buffett may have been on to something when he chose it for the headquarters of his massive holding company

While no region has escaped the recession, in Omaha, three Texas metros, a handful of Northeastern manufacturing bases and select southern cities, diversified industry and relatively stable housing fundamentals have provided local residents with comparatively secure standards of living.

Click for related content
Full list: America’s fastest-recovering cities
Cities find the fine print is costing millions
Big companies party like it’s 2009
Read more at www.msnbc.msn.com
 

Still Afraid Of Russia? Then Support A U.S. Free From Oil Dependency

I came across this interesting graphic this morning, which visually compares the economies of Russia and the U.S. across 25 categories. In the vast majority of these categories, the U.S., despite economic turmoil, remains a comparative "powerhouse" to Russia. But, take note of a couple of areas in which the U.S. is weakest - oil and natural gas reserves.

The... read more

Amplify’d from www.mint.com
RussiaEconomy
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