Must-Know News - Jan. 29
By Daniel at 29 January, 2010, 3:23 pm
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“Jan. 28 (Bloomberg) — U.S. universities boosted their long-term debt by 54 percent in the year ended June 30, as the economic crisis forced them to borrow to offset record losses in their endowments.
Universities, on average, had $167.8 million in debt in the 12 months ended June 30…”
“The current levels of budget deficits in both Europe and the U.S. are not sustainable and Europe’s economic recovery will only be modest, European Central Bank President Jean-Claude Trichet told CNBC Thursday.
“We all have a very, very big challenge… The levels of public finance deficit are non-sustainable on both sides of the Atlantic, that’s absolutely clear,” Trichet said.”
“Jan. 29 (Bloomberg) — American International Group Inc., the insurer bailed out by the U.S., increased its borrowing under a Federal Reserve credit line by the most since October to repay debt from an expiring government commercial paper program.
AIG owes $25.8 billion on the line, about $2.4 billion more than last week, according to Fed data released yesterday. The draw has increased for six straight weeks.”
“As Phoenix struggles with an unprecedented budget crisis, officials say police officers and firefighters will be laid off for the first time in city history.
The announcement came Thursday afternoon as the Phoenix city manager informed city departments how much funding they would lose this year.
The police and fire chiefs detailed the massive cuts their departments will take: $54 million for police and $35 million for fire.
Both departments have faced budget reductions throughout the economic downturn. Now officials said there is no where else to cut but let staff go.
Nothing will be finalized for at least two weeks.
But early estimates are that 350 sworn police officers will be fired and 144 firefighters let go”
- 5) Monetary baseLatest Observations:
| Date | 2009-12-02 | 2009-12-16 | 2009-12-30 | 2010-01-13 | 2010-01-27 |
| Value | 2081.192 | 2035.921 | 1995.665 | 1971.423 | 2059.992 |
- Saxplayer00o1
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