The U.S. government on Sunday entered into an agreement with Citigroup to bolster the company with $20 billion in capital from the TARP pool. The treasury has also announced that it, along with FDIC, will provide protection against an asset pool of approximately $306 billion of loans and securities backed by residential and commercial real [...]
November 24th, 2008 | rp | Comments | ContinuedArchive for November, 2008
US Treasury Changes Mind, Not Buying Troubled Mortgage Assets
Just six weeks after it was announced, the so called “financial bailout” plan has reversed its course leading to steep drops in the stock markets worldwide. In an announcement on Wednesday, Treasury Secretary Henry Paulson has declared he is burying the idea of buying trouble mortgage assets and will focus on non-bank Financial Institutions and [...]
November 13th, 2008 | supa | Comments | ContinuedGears of War 2 BLASTS and here is why
If you have not heard of GoW, following rave is not for you. If hated GoW, it is not for you. If you were not getting tingling sensation from GoW 2 previews, it is not for you. BUT if you would like to see your character crush a Locust’s head under his feet and would like the [...]
November 13th, 2008 | supa | Comments | ContinuedGoogle Introduces Video Chat in Gmail
Keeping true to the philosophy of making Web Browsers the next PC, Google has announced Video Chat option inside its email service - Gmail on Tuesday. This should give Yahoo and Microsoft run for their … money (if Yahoo still has any).
The new service called Gmail voide and video chat includes video streaming via your WebCam [...]
November 12th, 2008 | supa | Comments | ContinuediPhone 3G jumps to the top in a gloomy handset market
The economy is bad to say the least and consumer spending has been going down. For the month of October consumer spending dropped 0.3 percent the biggest setback since June 2004. Naturally the commodity sale volume has been going down as well including Cell Phones. But tough situations separate good from bad and the winner [...]
November 11th, 2008 | supa | Comments | ContinuedFull Transcript of Barack Obama’s first Press Conference
OBAMA: Thank you very much, everybody. Thank you very much.
This morning, we woke up to more sobering news about the state of our economy. The 240,000 jobs lost in October marks the 10th consecutive month that our economy has shed jobs. In total, we’ve lost nearly 1.2 million jobs this year, and more than 10 [...]
GM slowly dying, reports $2.5B loss for 3Q, full Press Release
While reporting their 3Q earnings, GM made a desperate attempt to draw government attention by declaring they would run out of cash in 2009 if the economic slump continues and they do not receive government aid. The Big Three have been asking for government aid since the $700B bailout passed for financial sector and if [...]
November 9th, 2008 | supa | Comments | ContinuedText of Obama/McCain Speeches from Election Night
Democratic President Elect Barack Obama’s Victory Speech (Chicago, IL)
If there is anyone out there who still doubts that America is a place where all things are possible; who still wonders if the dream of our founders is alive in our time; who still questions the power of our democracy, tonight is your answer.
It’s the answer [...]
Update: McCain concedes, Obama is the 44th President elect of the USA
Update - 3: McCain gives an emotional conceding speech in Phoenix and congratulates Obama as Obama crosses the 320 electoral votes mark
Update - 2: Florida goes to Obama. Landslide becomes closer to reality
McCain loses PA (now called by all major news organizations for Obama) and can’t hold OH either, sealing the deal for Obama. With [...]
Bush cheers as Obama loses the Election
It is official now! It is 3:15 in the morning on November 5th and Fox News confirmed final state Pennsylvania for John McCain an hour ago. Even John McCain admitted in his victory speech it seems like a dream.
And how did it happen? The reports of Obama supporter’s complacency had been running all day long [...]
