Jack Welch Attacks Obama

Jack Welch, former chief executive officer of General Electric Co., criticized the government- backed bankruptcy of Chrysler LLC for favoring unions at the expense of creditors and said President Barack Obama’s economic stimulus programs will cause budget deficits..

www.bloomberg.com

Stocks in U.S. Fall on Concern Over Lending Restrictions;

U.S. Steel Gains U.S. stocks retreated, erasing gains in the final hour of trading for a second day, as the Federal Reserve predicted a deeper recession and concern grew that credit-card issuers will be hurt by new lending restrictions.

www.bloomberg.com

Microsoft moves forward on plan to ax 5,000

Microsoft Corp. is pulling the trigger on thousands of the 5,000 job cuts it announced in January.

When Microsoft announced its first-ever companywide layoffs, the software maker cut 1,400 of the jobs it said it would slash, with the rest coming over an 18-month period..

www.msnbc.com

WELCOME TO AMERICA: Hundreds of thousands of jobs have vanished forever. Millions of people who were fired or laid off will find it harder..

Hundreds of thousands of jobs have vanished forever in industries such as auto manufacturing and financial services. Millions of people who were fired or laid off will find it harder to get hired again and for years may have to accept lower earnings than they enjoyed before the slump..

www.bloomberg.com

Chrysler Files For Chapter 11

Chrysler filed for Chapter 11 bankruptcy protection and will enter into a partnership with Italy's Fiat. Obama said the deal would allow Chrysler to "thrive."

Lies, Threats, Deal: Paulson, Bernanke, Lewis

Revelations that Ken Lewis had his arm twisted at the highest levels of government to buy Merrill should make for some interesting litigation...

By Robert Lenzner
www.forbes.com

Economists see more job losses, 9.8% unemployment

Nearly one in 10 U.S. workers will be unemployed before the job market starts to improve, economists in a USA TODAY survey predict. Most expect continued deterioration in the overall economy over the next six months...

www.usatoday.com

Obama: Clearing economic "wreckage," fixing U.S. image

President Barack Obama sought to reassure Americans on Wednesday he was making progress tackling the economic crisis and in fixing the U.S. image abroad, but urged patience...

U.S. President Barack Obama speaks during his 100-day anniversary news conference in the White House East Room in Washington April 29, 2009....

www.thestar.com

Did Bernanke Bully Bank of America ?

A new report by the New York Attorney General says that government officials bullied Bank of America Chief Ken Lewis into accepting a merger with Merrill Lynch--then ordered him to keep mum about losses at Merrill..

www.forbes.com

Busting Bank of America

The cavalier use of brute government force has become routine, but the emerging story of how Hank Paulson and Ben Bernanke forced CEO Ken Lewis to blow up Bank of America is still shocking. It's a case study in the ways that panicky regulators have so often botched the bailout and made the financial crisis worse..

http://online.wsj.com

Knives out for 'reckless' Bank of America boss

Ken Lewis was preparing for the fight of his life this weekend in a high-stakes battle to retain his job as chief executive of Bank of America when shareholders assemble for the annual meeting of the financial giant...

www.independent.co.uk

Financial Aid Available for Adults Returning to School

Aralifestyle.com

The financial crisis has brought about new kinds of challenges for many Americans.

High gas prices, foreclosures and low wages are some well-known symptoms. One of the biggest obstacles, however, has been the feeling of uncertainty we encounter on a daily basis, whether it be our job stability, our family budgets, or even our ability to save for retirement.

With layoffs expected across a multitude of industries, many adults are taking action against this cloud of uncertainty by going back to school.

Meltdown losses Total '$4 trillion'

News.bbc.co.uk
One year ago, the IMF estimated that total losses from the credit crunch would be $1 trillion, which has been exceeded, showing how rapidly the financial meltdown has escalated.

Wall St reet fears grow over stress test results

FT.com: Rising panic over how the results will be released has raised fears the results could lead to another collapse of confidence in the battered financial sector.

Among other concerns, there is uncertainty over how the federal government will release the results, whether it will publish one aggregate number, or a bank-by-bank breakdown.

Decision time at Bank of America Merrill Lynch

By William Wright:

Efinancialnews.com: If politics is the art of postponing decisions until they are no longer relevant, then it is time for Bank of America and Merrill Lynch to stop playing politics and get on with making their merger work...

BofA's wallet may be full enough to repay TARP

BofA Head Kenneth Lewis boldly told the Charlotte Observer Wednesday that BofA could repay the borrowed monies immediately if it were not maintaining higher-than-normal capital to account for the "fragile" state of the financial system.

The 10 people who have profited most from the financial crisis

Timesbusiness.typepad.com: We’ve rounded up ten credit crunch Houdinis who’ve escaped the financial crisis and are laughing all the way to the ailing bank.

Ten people who predicted the financial meltdown

Timesbusiness.typepad.com: The financial events of recent weeks have filled many of us with shock and panic. Surely no one could have predicted that we would be in this mess? Well, actually, they did. Here are ten people who saw the financial meltdown coming...