Posted by Cartoosh on Tuesday, April 7, 2009
, In :
Economy
 4/4/2009
Americans were in shock over the last few days due to a series of killings across the country. A married couple were discovered inside their burning home in Herndon early Thursday in Fairfax County of Virginia. Police believes that the husband stabbed his wife to death and then set their home on fire. In Pierce county of Washington on Friday night, an angry farther who had dispute with his wife killed his wife and five children, before committing suicide. In Binghamton, New York, a gu... Continue reading...
Posted by Cartoosh on Tuesday, March 31, 2009
, In :
Automobile
3/30/2009 General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House, administration officials said Sunday. Although Wagoner has been trying to steel the automaker giant towards the right direction, his effort is considered by some administration officials too little and too slow.
Wagoner's resignation is seen as a step in President Obama's effort in restructuring and transforming the U.S. auto industry. I hope his resignation would allow f... Continue reading...
Posted by Cartoosh on Saturday, March 21, 2009
, In :
Scandals
3/18/2009
AIG CEO appeared in front of furious lawmakers on Capitol Hill yesterday to shed some light on over $165M bonus awarded to his employees - many of them in AIG's financial products unit. That's the very same department blamed for plunging AIG into the financial turmoil that eventually led the government to lend and invest about $170 billion in the company.
In defending his decision foregoing the bonus payments, CEO Liddy said that AIG needs these employees to continue working to un... Continue reading...
Posted by Cartoosh on Saturday, March 21, 2009
, In :
Scandals
3/12/2009
The disgraced financier, Bernard Madoff, pleaded guilty on Thursday to 11 charges, including fraud, perjury and money laundering. Judge Denny Chin ordered him jailed immediately. Madoff's plea came without an agreement, which means he faces a statutory maximum of 150 years in prison when he is sentenced June 16. Madoff's Park Avenue penthouse reported worth of $7 million is going to be up for sale. Continue reading...
Posted by Cartoosh on Saturday, March 21, 2009
, In :
Economy
3/11/2009
President Obama signed the $410 billion bill Wednesday morning to keep most of the government operations running until September 30. Banking on Obama's willingness to sign the bill, both Republican and Democratic lawmakers jammed the bill with about 8,500 earmarks worth of $8 billion. At $410 billion, the bill represents an 8 percent increase over last year's spending levels, more than double the rate of inflation. Given the fact that the U.S. national deficit has been making its re... Continue reading...
Posted by Cartoosh on Saturday, March 21, 2009
, In :
Stock market
3/3/2009
S&P 500 index dropped to the lowest level below 7000 since October 28, 1996. Although the drop on Tuesday was moderate, the Dow Jones industry average tumbled 300 points a day earlier that sent both the Dow and the S&P 500 index to their lowest level in more than a decade. Monday's slump in the stock market was primarily triggered by the bigger than expected loss of $62 billion for the fourth quarter announced by AIG -- the biggest in U.S. corporate history. The U.S. government injec... Continue reading...
Posted by Cartoosh on Saturday, March 21, 2009
, In :
Behind cartoons
Many of you enjoy drawing pictures or cartoons. You probably have been doing it with pencils on papers. Ever think of drawing on your computer? How about right on your computer screen or LCD display? Wouldn't it be exciting drawing or tracing your favorite gigglePets and the giggleBites cartoons right on your computer LCD display.
Well... I'm glad to tell you that your dream has come true. I have been using the Wacom Cintiq display tablet and the pressure-sensitive pen to draw all the cartoo... Continue reading...
Posted by Cartoosh on Saturday, March 21, 2009
, In :
Economy
1/22/2009
Some GOP governors appear to have difficult time in deciding whether to accept any money from the $787 billion economy stimulus package provided by the federal government. Some even are doing their calculus in determining which portion of the stimulus aid would be accepted and which portion not. Their reasons: The stimulus package is a waste of the taxpayers' money and is not going to help much of the economy or create enough jobs.
Well... California Gov. Arnold Schwarzenegger is ... Continue reading...
Posted by Cartoosh on Saturday, March 21, 2009
, In :
Scandals
2/11/2009
After Treasury Secretary Tim Geithner announced yesterday that the government, the Federal Reserve, and the private sectors would spend around $2 trillion to bailout the troubling financial institutions, US bank CEOs appeared in front of the House Financial Services Committee in an attempt to repair their tarnished reputation. The banks are accused of using the money to cushion their balance sheets or buy up rivals. They are also accused of rewarding themselves with exceptional amo... Continue reading...
Posted by Cartoosh on Saturday, March 21, 2009
, In :
Economy
2/10/2009
How much would it take to turn around the sinking economy again?
The Obama administration has been considering for the government and private sectors to purchase so-called toxic assets from the struggling financial institutions. According to the new estimate, the amount of government and private funds combined will be "on an initial scale of up to $500 billion, with the potential to expand up to $1 trillion." In addition, the Federal Reserve announced it would commit up to $1 tri... Continue reading...
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