Washington Mutual
Well the nation's largest Savings and Loan announced that they're cutting 3,100 jobs and closing 190 of the 336 home loan centers. They also said they will be slashing their dividend by 73 per cent and now expects to set aside 1.5 to 1.6 billion for loan losses in its 4th. quarter. This is twice as mush that had been expected. Of a another concern is its 43 billion second-lien-home-equity portfolio. Hang on folks, 2008 is going to be a telling year for the economy and the Republicans.
Bank of America meantime revealed that the Columbia Strategic cash Portfolio fund for institutional investors worth 40 billion a few months ago, now has about 12 billion in assets. The fund will be closed to new investors. The loss is related to the sub prime-mortgage crisis.
245 MPG?
If you're looking for something cheap to get around in city traffic you may want to get yourself a Zenn electric Car produced by Green Motors. This electric car only has a top speed of about 30 miles per hour. I guess you won't last long with one of these in Boston or New York..
Curious CNN Latest Polls
Interesting, in the latest CNN Polls the Economy has risen to the number one issue surpassing Iraq by 2 percent (29%-27%) Another interesting number is, 69 percent now want troops pulled out of Iraq now or in the near future. This number is at an all time high. As for George Bush, his approval rating is at 32 percent. And of course, he told people in his administration not to comment on the recent CIA revelation that they destroyed evidence. Nothing like having a sociopath running the country.
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