Wells Fargo:Doing Well, But Putting the Squeeze on Credit.

The markets were up today,mainly on the news that Wells Fargo will post higher profits than expected for the first quarter. However, they are reviewing retroactively all lines of credit above $6,000 by asking some very intrusive questions such as tax returns & proof of any/all assets, even for customers with impeccable track records.....

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U.S. Markets Surge on Wells Fargo's Projected Record Profit

Stocks soared in early trading today after Wells Fargo projected that its first-quarter net income would come in well above analysts' expectations.However, Wells Fargo is putting the squeeze on their customers with a personal line of credit. They are currently reviewing all accounts with a balance above $6,000 with some very intrusive questions...

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Hedge Fund Paid Obama Adviser Summers $5.2 million

By Roberta Rampton WASHINGTON (Reuters) - Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million by hedge fund D.E. Shaw in the past year, financial disclosure forms released by the White House showed on...

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Lehman Brothers collapse stuns global markets

Global markets were reeling Monday after a historic day on Wall Street that saw two famous names become the latest victims of the credit crunch. Lehman filled for bankruptcy protection and Bank of America purchased giant Merril Lynch, to add to this turmoil the share of AIG tumbled by 52 %. Who is next?

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Is a world wide depression worse than 1929 in the forecast?

The month of June was the worse month on Wall Street since 1930. With the financial sector still shaky, price of oil at record high and the US dollar at record low against the Euro, how can the US afford two wars at a cost of 1 trillion,so far? Are George W. Bush's policies bankrupting the US economy and bringing down the world wide economy?

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