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No wonder no one wants to tell us where the bailout money is going or how much. One of the companies who benefited from it, Merrill Lynch and its CEO Peter Kraus. Yes, Peter Kraus benefited from your hard earned money.
How? Well, he was CEO …

As Bank of America makes the move to absorb Merrill Lynch, it could end up cutting 30,000 jobs. The cut would be three times more than what was previously estimated.
Just yesterday, estimates came out that said 10,000 jobs would be cut from the payroll, and …

One day after the UK Financial Services Authority pulled a similar stunt, the SEC temporarily banned the short selling of almost 800 financial stocks. According to the ban, on October 3rd short selling can resume.
With the news on Friday, financial stocks rallied.
Here’s the list …

Even after the S&P lowered the savings-and-loan credit rating today Washington Mutual’s shares rose 16% higher than opening. WaMu was one of the largest profiteers from the housing boom and is now in trouble with the largest mortgage lenders going belly-up. There are even …

Citigroup posted a $2.5 Billion dollar loss for the second quarter. In my opinion, that?s not good at all. That would be called a disaster. However, this loss was less than expected, so it’s good? Yea, I’m confused. This was their 3rd loss in a …