Filed under: Economy We all know that Wall Street’s bad bets nearly brought the financial system to its knees last year. Then U.S. taxpayers footed the bill to bail out Wall Street — taking on obligations potentially as high as $23.7 trillion , leading to a $1.4 trillion federal deficit, and $12 trillion in national debt. To me that’s a kind of reverse-Robin-Hood action. Ironically, a New York City charity called the Robin Hood Foundation, which says it supports 200 poverty-fighting programs, is celebrating Wall Street’s expected $140 billion 2009 bonus windfall. The head of Robin Hood’s response to the upcoming record Wall Street bonuses is “Hell yeah!” reports Bloomberg News . The reason for David Saltzman’s enthusiasm is that Robin Hood claims it gets more than half of its annual $150 million in donations from the employees of investment banks, brokerage firms and hedge funds. Continue reading Wall Street bonuses are Robin Hood in reverse — but one Robin Hood approves Wall Street bonuses are Robin Hood in reverse — but one Robin Hood approves originally appeared on DailyFinance on Fri, 13 Nov 2009 13:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Wall Street bonuses are Robin Hood in reverse — but one Robin Hood approves

Filed under: Company News , IBM , Microsoft Federal antitrust officials are as busy as they were when they were breaking up the old AT&T or looking at breaking up Microsoft ( MSFT ). The government is currently reviewing the proposed search joint venture between Yahoo! ( YHOO ) and Microsoft and examining IBM’s ( IBM ) practices in the mainframe industry. Even the NFL is under the microscope. And now, the Federal Trade Commission is after Toys ‘R’ Us. Continue reading Toys ‘R’ Us hit by antitrust probe over pricing of baby products Toys ‘R’ Us hit by antitrust probe over pricing of baby products originally appeared on DailyFinance on Sat, 17 Oct 2009 08:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Toys ‘R’ Us hit by antitrust probe over pricing of baby products

Filed under: Economy The United States has just logged its biggest budget deficit year in history.The nation posted a $46.6 billion deficit for September, and a record $1.42 trillion deficit for the 2009 fiscal year, which ended September 30, the U.S. Treasury announced Friday. But there is actually some good news, of sorts, in the swelling national debt figures. The positive note? The $1.42 trillion deficit is $162 billion less than the $1.58 trillion deficit projected by the U.S. Treasury in its August Mid-Session Review. Continue reading Record U.S. deficit of $1.4 trillion could have been worse Record U.S. deficit of $1.4 trillion could have been worse originally appeared on DailyFinance on Sat, 17 Oct 2009 09:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Record U.S. deficit of $1.4 trillion could have been worse