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Showing posts with label bail out. Show all posts
Showing posts with label bail out. Show all posts
Sunday, June 20, 2010
Thursday, May 13, 2010
Greeks pledge to continue protests despite bailout money pouring in
ATHENS, Greece — In a nation that has long prided itself on public protest, the convulsions of outrage have quieted for the moment. But anger still is swelling in the seething streets. Despite massive injections of bailout cash pouring in, Greeks are pledging to keep up strikes and street demonstrations against the government and its austerity measures. Their indignation is rooted not so much in the pain of slashed pensions and salary cuts, which opinion polls indicate will be grudgingly accepted, as in a general sense of betrayal by politicians they regard as having glided through the crisis with impunity.

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Tuesday, May 11, 2010
Major US lender seeks $8.4bn more aid
Troubled US mortgage lender Fannie Mae has asked for more federal funds to survive, as the American housing market continues to struggle with huge losses.
The government-sponsored company announced on Monday that it lost over $13 billion in the first three months of this year.
It now says that it needs $8.4 billion to stay afloat. The new appeal - if accepted - will bring the total cost of the government's bailout of Fannie and its sibling company, Freddie Mac, to $145 billion.
The company has also stated that "Freddie Mac expects to request additional draws." The bailout of the two mortgage giants is turning out to be one of the most expensive after-effects of the 2007 US financial meltdown.
The government-sponsored company announced on Monday that it lost over $13 billion in the first three months of this year.
It now says that it needs $8.4 billion to stay afloat. The new appeal - if accepted - will bring the total cost of the government's bailout of Fannie and its sibling company, Freddie Mac, to $145 billion.
The company has also stated that "Freddie Mac expects to request additional draws." The bailout of the two mortgage giants is turning out to be one of the most expensive after-effects of the 2007 US financial meltdown.
Editorial: Senate Has to Do Better
Banks ahead, American taxpayers lagging behind. That’s the disappointing reality here after the first week of Senate action on the financial reform bill.
Senators overwhelmingly rejected an important provision that would have required large financial firms to pay $50 billion upfront to create a so-called resolution fund, which would have been used to dismantle big banks at risk of failure. Instead, the bill now authorizes regulators to borrow the needed cash from the Treasury to be paid back later, mainly by selling off assets of the failed firm.

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Senators overwhelmingly rejected an important provision that would have required large financial firms to pay $50 billion upfront to create a so-called resolution fund, which would have been used to dismantle big banks at risk of failure. Instead, the bill now authorizes regulators to borrow the needed cash from the Treasury to be paid back later, mainly by selling off assets of the failed firm.
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Saturday, May 1, 2010
BAILOUT WOULD REQUIRE BANKS TO TRACK PERSONAL CHECKING ACCOUNTS TO FEDS
Subtitle G of the Dodd discussion draft bill requires that records be maintained and reported “for each branch, automated teller machine at which deposits are accepted, and other deposit taking service facility with respect to any financial institution, the financial institution shall maintain a record of the number and dollar amounts of deposit accounts of customers.”
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Friday, April 30, 2010
'THE FINANCIAL INDUSTRY DOESN'T GIVE A DAMN ABOUT POLITICS'
The bailout package for Greece came closer to completion on Friday, but criticism of the handling of the crisis by the European Union and Germany continues to grow. German newspapers on Friday weigh in on apathy, deliberate stalling and irresponsibility in addressing the euro crisis.
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