CORRESPONDENCEStatus of Selected Aspects of the Coast Guard’s Deepwater Program. GAO-08-270R, March 11 http://www.gao.gov/cgi-bin/getrpt?GAO-08-270R LETTER REPORTJoint Strike Fighter: Recent Decisions by DOD Add to Program Risks. GAO-08-388, March 11http://www.gao.gov/cgi-bin/getrpt?GAO-08-388Highlights – http://www.gao.gov/highlights/d08388high.pdf TESTIMONYDefense Management: DOD Needs to Reexamine Its Extensive Reliance on Contractors and Continue to Improve Management and Oversight. GAO-08-572T, March 11http://www.gao.gov/cgi-bin/getrpt?GAO-08-572THighlights – http://www.gao.gov/highlights/d08572thigh.pdf Joint […]

OCC press release WASHINGTON Feb. 14, 2008 — Comptroller of the Currency John C. Dugan issued the following statement today, responding to comments from New York Governor Eliot Spitzer:Almost everyone who has paid attention to the subprime lending crisis has concluded that OCC-regulated national banks were not the problem. Instead, the worst abuses came from […]

Tina Fey or John MacEnroe over at AMEX should give cactus a call. Is this related to the change in bankruptcy law on Chapter 7 escape clauses? Less backup for the customer. Keep posted. Naked Capitalism might be exposing the economic model prior to the credit crunch still being implemented. As wards of the state […]

Inflation USA (Ivan Kitov) comments about : Andrew Samwick at VoxBaby posted on unemployment rate “What the unemployment rate misses? “. This post obtained a relatively high visibility and was commented on by Angry Bear and Big Picture. I think that this approach is slightly biased and misleading . What we really need (to consider)is […]

Notice has been given to be aware of the Winter Soldiers hearings testimony to be given March 13 to March 16. On another blog it was mentioned that liberal blogs never posted videos made by terrorists that showed beheadings, dismemberments, and other atrocities. Which as far as I can tell is true. They are mostly […]

Here are some charts to demonstrate what I was talking about. the recent drop in US bond yields has not been accompanied by a similar drop in European rates.Consequently the spread between US and foreign bonds has narrowed and it no longer compensates foreigners for the currency risk they take when investing in the US.The […]

Those who do not study history are doomed to repeat it. Just to put things in perspective, the inflation rate was 4.4%, the same as it is right now, when Nixon imposed price controls in 1971. P.S. He knew the inflation rate was slowing. But he imposed price controls as part of his package to […]

Paul Krugman at Economist’s View appears to be saying the TAF is a sterilized intervention by the Fed. He uses an analogy of twenty people (the financial markets) and one bad apple being saved in order to help the other 19. Our own save the rustbelt (missing now, sadly, due to work. So much for […]

Associated Press carries this article at Yahoo news. The FBI acknowledged it improperly accessed Americans’ telephone records, credit reports and Internet traffic in 2006, the fourth straight year of privacy abuses resulting from investigations aimed at tracking terrorists and spies.The breach occurred before the FBI enacted broad new reforms in March 2007 to prevent future […]

voxbaby has a complete explanation of this chart in trying to decipher numbers and the meaning of unemployment. (Hat tip to reader andrew)