Wednesday Round Up – Lots of Bad News

by James & Miel on April 8, 2009 · 0 comments

Hi All,

Its looking like a bleak Wednesday for the nations economy, and likely some of this news affects your wealth one way or another.

1) Storage unit auctions are on the rise (yahoo).

2) The Feds are delaying the results of the bank ‘stress test’. (1) This is because bank balance sheets are weak and the government feels the bad news doesn’t need to be publicized.

3) Elizabeth Warren of the TARP oversight council says that the US may need to spend an additional 4 trillion dollars to prop up US banks (here). See above.

4) Commercial real estate is taking it on the chin (WSJ).

5) U.S. State and municipal employee pensions are underfunded to the tune of 40% (FT).

6) The Fed is pumping another 5 billion into AIG (FT). Why?

7) Talk of tax revolts is still simmering in California (Reuters).

8) The TARP bailout funds will be extended to selected life insurers (WSJ).

To keep things in perspective here are some cute puppies.

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