US Treasury Secretary Timothy Geithner says he is prepared to oust executives and directors at banks that require "exceptional" government assistance. That's strange! I can not see why government should step in and interfere with private firms.
According to Geithner this might be necessary to protect US taxpayers' interests, although keeping the money in treasury or distributing it to the public would have had the same effect without additional conditions.
Spain Predicts Surge in Jobless
The Bank of Spain has predicted that the country's rate of unemployment will reach 17.1% in 2009 and 19.4% in 2010.
Oddly enough, I agree with the Bank. Believe it or not, I made the same prediction a day or two ago by just reading the headlines:
Eurozone unemployment rises again
Irish unemployment at fresh highs
Germany's unemployment rate rises
Euro manufacturing 'slides again'
It is somewhat unfortunate to name Monday after the Moon, don't you think?
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