TARP, SSFIP, EESA, CPP, TALF, MMIFF... Are you feeling overwhelmed by all the new acronyms coming out of the US Treasury Department lately? Here's a handy PDF reference guide
to untangling the US government efforts to rescue banks, financial corporations, and other companies.
posted by Asparagirl
on Dec 29, 2008 -
Confused about what caused this whole credit crisis? Let me Paddy Hirsch from Marketplace explain it to you in this
surprisingly entertaining and easy to understand video. While you're there, check out his explanation of short selling
and credit default swaps
. I wish this guy was my finance professor.
posted by JPowers
on Oct 23, 2008 -
We already talked
(self-link, sorta) about Zeitgeist: The Movie
. Its author, Peter Joseph, recently released Zeitgeist: Addendum
. (beware: last two links are two hour movies) This time, it’s about money and debt, scarcity and resources. The first, financial part may look like an extended Ron Paul
ad, but then there’s a sudden turn towards resource-based utopian techno-communalism, and an endorsement for The Venus project
. It seems to me like "Kropotkinian anarchism meets The Matrix". In these rough times
, is it time for a big leap? [Also announced: The Zeitgeist Movement
, still not active]
posted by Baldons
on Oct 7, 2008 -
I found your money.
It's uncanny: the next
guy emailing to claim the money that Rob "found" always describes it precisely as Rob described the money to the previous emailer.
posted by orthogonality
on Aug 14, 2008 -
Many people are up in arms (heh) over the Supreme Court's decision regarding gun control, but rather less press is being given to another opinion handed down today: Davis v. FEC
. The issue was the constitutionality of the "Millionaire's Amendment"
, which allowed for political candidates facing self-funding challengers who intended to spend more than $350,000 to raise more money from individual donors than they would otherwise be allowed to do.
In a 5-4 decision, the court found the law unconstitutional. [more inside]
posted by Bromius
on Jun 26, 2008 -
The Banyan Tree Foundation
promised to take donations from contributors to be redistributed to worthy Canadian recipients. The foundation also gave donors inflated charity receipts for tax declarations, and donors were encouraged to borrow money to contribute even more, and did... from a company now owned by Banyan Tree president Robert Thiessen. Now, the money has stopped flowing
, and the Canada Revenue Agency (CRA) has called the organization a "sham" and is going after Banyan donors for past charity receipts totalling more than CAD$100 million. [more inside]
posted by Shepherd
on Jun 4, 2008 -
HowISpentMyStimulus.com In January, Congress approved $152 billion in economic stimulus checks for millions of American households, intended to boost the economy and avert a recession. Just how this money will be spent remains to be seen. We hope this website helps shed some light on where the stimulus money is going.
posted by ThePinkSuperhero
on May 31, 2008 -
The $3 Trillion Shopping Spree.
"The occupation of Iraq will cost $3 trillion, America's most expensive conflict since WWII. Can YOU spend that money better? Here's your chance to go on a virtual $3 trillion shopping spree and prove it!" [Via Gristmill.]
posted by homunculus
on May 10, 2008 -
Who said anything about a recession?
Sometime between the government bailout of Bear Stearns and the Bureau of Labor Statistics report that America lost 80,000 jobs in March, Lee Tachman, a Wall Street banker
, spent roughly $50,000 last month on a four-day jaunt to Miami for himself and three close friends.
“It was just all out — it was insane,” said Mr. Tachman. “I’m not afraid to spend money like that.”
posted by The Jesse Helms
on Apr 14, 2008 -
"Ten Thousand Cents"
is a digital artwork that creates a representation of a $100 bill. Using a custom drawing tool, thousands of individuals working in isolation from one another painted a tiny part of the bill without knowledge of the overall task. [more inside]
posted by sveskemus
on Apr 12, 2008 -
Pay to play.
The children of big-donor Harvard
alums are systematically given preference
over legacy offspring of lesser means. Additionally David Karen, now a professor at Bryn Mawr, concluded that alumni children at Harvard lose most of their admissions advantage if they apply for financial aid.
posted by The Jesse Helms
on Apr 7, 2008 -
The Most Important Article You Did Not Read This Week
Now, it is true that the most important article you probably didn’t read contains all the usual hair-raising things you’d expect to see about the real estate market, including “developers under siege,” “signs of weakness in key markets,” developers “slashing prices,” and the head of a major builder advising “that people wait three to four years before purchasing a new home.” But the most important article you probably didn’t read is not about real estate markets in Naples, Florida, or Sacramento, California. It is about China. [ full WSJ article here]
posted by Stynxno
on Mar 28, 2008 -
Little by little, millions of Americans surrendered equity in their homes in recent years. Lulled by good times, they borrowed — sometimes heavily — against the roofs over their heads.
Now the bill is coming due.
posted by plexi
on Mar 27, 2008 -
Columbia Business School doesn't like Ben Bernanke.
The Previous Link is a
Music Video from Columbia Business School. No Billy Joel, but it is a music parody. You might not like music parodies which is A-Okay, but this is a financial focused music parody from a business school improv group. It made me smile wanely a few times, but I still enjoyed it. You might not. I am sorry if you do not. If you don't, maybe you would like a video about munchkin kittens. [more inside]
posted by Lord_Pall
on Mar 19, 2008 -
While the US equities markets were closed on Monday for Martin Luther King Day, stock markets around the world took a nosedive, losing billions in equity
; the markets in Australia
, South Korea
, Indonesia, Hong Kong
, the UK
, and more countries
have dropped at least 5% each (Canada
only fell 4.75%), even though most of those markets had already been seriously down for several days prior. India has been hit particularly hard
, at one point down a whopping 11%, tripping their markets' automatic "circuit breakers"
for a mandatory time-out period, before scraping back up to close at 8% down.
US futures markets are currently predicting a 650+ point drop just at the open Tuesday morning
, before even a single trade goes through. [more inside]
posted by Asparagirl
on Jan 22, 2008 -
Do you know a young 20 something hipster who is too busy spending their parents money on beer, poorly fitting clothes and blogging about the newest band reinventing music from 20 years ago? Is their waiter/bartending existence causing you to worry about their long term investment habits? Do they need some fisical responsbility in their young lives? Well you're in luck my friend! Thrasher Funds
now offers the first mutual fund targeted to hipsters
. With holdings
in Apple, Gucci, H&M, and Louis Vuitton, this fund not only has it's pulse on your young hipster's generation, it also dresses the way they want! Get in on it today! via
posted by Stynxno
on Nov 8, 2007 -
Stephen Barnwell makes meticulous bills for fictional worlds, such as the Dream Dollars
of a lost Antarctic colony
, complete with symbolism and backstories. He has introduced several new, more politically controversial fictional currencies for less ideal worlds: the United States of Islam
, the State of War
, and the Empire of America
. He is not the only artist who imagines currency, there are the beautiful notes
and the strange work of JSG Boggs [prev]
who hand-draws almost real bills that subvert the lines between money and art
, occasionally running into issues with the Secret Service
on the way. On the borders between reality and fantasy is the new currency developed by foreign exchange specialists Travelex, the Quasi Universal Intergalactic Denomination
, introduced to solve some of the problems in money in space, and which may actually be used by space tourists
posted by blahblahblah
on Oct 16, 2007 -