As our own Peter Barnes and the Wall Street Journal are reporting this morning, America's banks are now being asked to, in effect, bail out the U.S. government.
The FDIC needs money. It's drawn down its insurance fund from $50 billion to around $10 billion today. With 95 bank failures already on the books this year and more predicted, the FDIC is concerned it may not have the ... read more
(Rant alert: As you read this, keep in mind its being written 90 minutes into the steamy confines of our broken down train - and note I took the above picture)
Apparently, train travel is such a new technology that the kinks are still being worked out. But even in the short annals of American rail history (okay, I'll end the sarcasm) New Jersey Transit is infamous for its subpar ... read more
Stories I'm reading this Wednesday:
The Fed likely won't raise rates today (long term chart above)
Rising taxes and the possibility of the 1930s all over again
Can Obama spend his way back to prosperity?
China sending fuel to Iran
General Mills boosts outlook (be sure to catch my exclusive interview with Gen Mills CEO at 11:45am ET ... will be up on Fox Biz website afterwards)
GM ... read more
Brian Sullivan joined FOX Business Network (FBN) in April 2008 as an anchor. He co-anchors the 10am-12pm ET hours of the FOX Business block.
Prior to joining FBN, Sullivan served as an anchor for Bloomberg Television where he hosted the programs Morning Call and In Focus.
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September 30, 2009 07:10 AM EDT
Wednesday Stories: Tax Hikes; "Only" $3.4 Trillion; Biotechs Ready For Buyouts?; Let It Snow
Stories I'm reading this Wednesday: Influential group calls on Obama to raise taxes on more people IMF cuts loss estimate on bad loans to 'only' $3.4 trillion Another blow to the public option Bob McTeer responds to Kevin Warsh 3 small biotechs poised for buyouts Toyota recalling cars over ... floor mats?! HP may combine printer, PC ... read more
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