Bank of America suffering from huge losses

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The largest USZ Bank, Bank of America, has reported huge losses in the fourth quarter of fiscal 2010 year and revealed a streak of two consecutive quarters of non-profitability. Bank of America on Friday announced a fourth-quarter net loss of USZD 1.2 billion, or 16 cents a share, Forbes reported on Friday. The loss was driven by charges from pre-announced settlements and write-downs related to mortgage problems. Bank of America's revenue was also down 11% in the quarter to USZD 22.7 billion, which was well behind analysts' expectations. Analysts had been expecting a USZD 3 billion charge after the bank said it would pay USZD 1.28 billion to Freddie Mac and USZD 1.52 billion to Fannie Mae in a bid to buy back toxic mortgages.

For the full year of 2010, Bank of America reported a net loss of USD 2.2 billion or 37 cents per share. Bank of America's earnings have been dominated by costs from bad mortgages sold by its sub-prime mortgage unit, Countrywide, during the housing crisis of 2008. Countrywide has cost the bank more than USZD 5 billion in write-downs over the previous two years. Private investors have taken legal actions against Bank of America to compel it buy back mortgages sold on the open market. The financiers argue that the mortgages didn't keep to the underwriting policies of government-sponsored enterprises of Freddie Mac and Fannie Mae. Bank of America and other former Countrywide executives are currently facing numerous law suits over attempts to force lenders to buy back loans that may have been made with incorrect data on income and home values. In December, America's largest home and car insurance company, Allstate, sued Countrywide for miscalculating misrepresenting the risks on more than USZD 700 million of mortgage securities it had earlier bought.

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Pakistan Cyber Force

Bank of America suffering from huge losses

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The largest USZ Bank, Bank of America, has reported huge losses in the fourth quarter of fiscal 2010 year and revealed a streak of two consecutive quarters of non-profitability. Bank of America on Friday announced a fourth-quarter net loss of USZD 1.2 billion, or 16 cents a share, Forbes reported on Friday. The loss was driven by charges from pre-announced settlements and write-downs related to mortgage problems. Bank of America's revenue was also down 11% in the quarter to USZD 22.7 billion, which was well behind analysts' expectations. Analysts had been expecting a USZD 3 billion charge after the bank said it would pay USZD 1.28 billion to Freddie Mac and USZD 1.52 billion to Fannie Mae in a bid to buy back toxic mortgages.

For the full year of 2010, Bank of America reported a net loss of USD 2.2 billion or 37 cents per share. Bank of America's earnings have been dominated by costs from bad mortgages sold by its sub-prime mortgage unit, Countrywide, during the housing crisis of 2008. Countrywide has cost the bank more than USZD 5 billion in write-downs over the previous two years. Private investors have taken legal actions against Bank of America to compel it buy back mortgages sold on the open market. The financiers argue that the mortgages didn't keep to the underwriting policies of government-sponsored enterprises of Freddie Mac and Fannie Mae. Bank of America and other former Countrywide executives are currently facing numerous law suits over attempts to force lenders to buy back loans that may have been made with incorrect data on income and home values. In December, America's largest home and car insurance company, Allstate, sued Countrywide for miscalculating misrepresenting the risks on more than USZD 700 million of mortgage securities it had earlier bought.

Enticing Fury

Pakistan Cyber Force

Bank of America suffering from huge losses

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The largest USZ Bank, Bank of America, has reported huge losses in the fourth quarter of fiscal 2010 year and revealed a streak of two consecutive quarters of non-profitability. Bank of America on Friday announced a fourth-quarter net loss of USZD 1.2 billion, or 16 cents a share, Forbes reported on Friday. The loss was driven by charges from pre-announced settlements and write-downs related to mortgage problems. Bank of America's revenue was also down 11% in the quarter to USZD 22.7 billion, which was well behind analysts' expectations. Analysts had been expecting a USZD 3 billion charge after the bank said it would pay USZD 1.28 billion to Freddie Mac and USZD 1.52 billion to Fannie Mae in a bid to buy back toxic mortgages.

For the full year of 2010, Bank of America reported a net loss of USD 2.2 billion or 37 cents per share. Bank of America's earnings have been dominated by costs from bad mortgages sold by its sub-prime mortgage unit, Countrywide, during the housing crisis of 2008. Countrywide has cost the bank more than USZD 5 billion in write-downs over the previous two years. Private investors have taken legal actions against Bank of America to compel it buy back mortgages sold on the open market. The financiers argue that the mortgages didn't keep to the underwriting policies of government-sponsored enterprises of Freddie Mac and Fannie Mae. Bank of America and other former Countrywide executives are currently facing numerous law suits over attempts to force lenders to buy back loans that may have been made with incorrect data on income and home values. In December, America's largest home and car insurance company, Allstate, sued Countrywide for miscalculating misrepresenting the risks on more than USZD 700 million of mortgage securities it had earlier bought.

Enticing Fury

Pakistan Cyber Force

Bank of America suffering from huge losses

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The largest USZ Bank, Bank of America, has reported huge losses in the fourth quarter of fiscal 2010 year and revealed a streak of two consecutive quarters of non-profitability. Bank of America on Friday announced a fourth-quarter net loss of USZD 1.2 billion, or 16 cents a share, Forbes reported on Friday. The loss was driven by charges from pre-announced settlements and write-downs related to mortgage problems. Bank of America's revenue was also down 11% in the quarter to USZD 22.7 billion, which was well behind analysts' expectations. Analysts had been expecting a USZD 3 billion charge after the bank said it would pay USZD 1.28 billion to Freddie Mac and USZD 1.52 billion to Fannie Mae in a bid to buy back toxic mortgages.

For the full year of 2010, Bank of America reported a net loss of USD 2.2 billion or 37 cents per share. Bank of America's earnings have been dominated by costs from bad mortgages sold by its sub-prime mortgage unit, Countrywide, during the housing crisis of 2008. Countrywide has cost the bank more than USZD 5 billion in write-downs over the previous two years. Private investors have taken legal actions against Bank of America to compel it buy back mortgages sold on the open market. The financiers argue that the mortgages didn't keep to the underwriting policies of government-sponsored enterprises of Freddie Mac and Fannie Mae. Bank of America and other former Countrywide executives are currently facing numerous law suits over attempts to force lenders to buy back loans that may have been made with incorrect data on income and home values. In December, America's largest home and car insurance company, Allstate, sued Countrywide for miscalculating misrepresenting the risks on more than USZD 700 million of mortgage securities it had earlier bought.

Enticing Fury

Pakistan Cyber Force

Bank of America suffering from huge losses

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The largest USZ Bank, Bank of America, has reported huge losses in the fourth quarter of fiscal 2010 year and revealed a streak of two consecutive quarters of non-profitability. Bank of America on Friday announced a fourth-quarter net loss of USZD 1.2 billion, or 16 cents a share, Forbes reported on Friday. The loss was driven by charges from pre-announced settlements and write-downs related to mortgage problems. Bank of America's revenue was also down 11% in the quarter to USZD 22.7 billion, which was well behind analysts' expectations. Analysts had been expecting a USZD 3 billion charge after the bank said it would pay USZD 1.28 billion to Freddie Mac and USZD 1.52 billion to Fannie Mae in a bid to buy back toxic mortgages.

For the full year of 2010, Bank of America reported a net loss of USD 2.2 billion or 37 cents per share. Bank of America's earnings have been dominated by costs from bad mortgages sold by its sub-prime mortgage unit, Countrywide, during the housing crisis of 2008. Countrywide has cost the bank more than USZD 5 billion in write-downs over the previous two years. Private investors have taken legal actions against Bank of America to compel it buy back mortgages sold on the open market. The financiers argue that the mortgages didn't keep to the underwriting policies of government-sponsored enterprises of Freddie Mac and Fannie Mae. Bank of America and other former Countrywide executives are currently facing numerous law suits over attempts to force lenders to buy back loans that may have been made with incorrect data on income and home values. In December, America's largest home and car insurance company, Allstate, sued Countrywide for miscalculating misrepresenting the risks on more than USZD 700 million of mortgage securities it had earlier bought.

Enticing Fury

Pakistan Cyber Force

Bank of America suffering from huge losses

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The largest USZ Bank, Bank of America, has reported huge losses in the fourth quarter of fiscal 2010 year and revealed a streak of two consecutive quarters of non-profitability. Bank of America on Friday announced a fourth-quarter net loss of USZD 1.2 billion, or 16 cents a share, Forbes reported on Friday. The loss was driven by charges from pre-announced settlements and write-downs related to mortgage problems. Bank of America's revenue was also down 11% in the quarter to USZD 22.7 billion, which was well behind analysts' expectations. Analysts had been expecting a USZD 3 billion charge after the bank said it would pay USZD 1.28 billion to Freddie Mac and USZD 1.52 billion to Fannie Mae in a bid to buy back toxic mortgages.

For the full year of 2010, Bank of America reported a net loss of USD 2.2 billion or 37 cents per share. Bank of America's earnings have been dominated by costs from bad mortgages sold by its sub-prime mortgage unit, Countrywide, during the housing crisis of 2008. Countrywide has cost the bank more than USZD 5 billion in write-downs over the previous two years. Private investors have taken legal actions against Bank of America to compel it buy back mortgages sold on the open market. The financiers argue that the mortgages didn't keep to the underwriting policies of government-sponsored enterprises of Freddie Mac and Fannie Mae. Bank of America and other former Countrywide executives are currently facing numerous law suits over attempts to force lenders to buy back loans that may have been made with incorrect data on income and home values. In December, America's largest home and car insurance company, Allstate, sued Countrywide for miscalculating misrepresenting the risks on more than USZD 700 million of mortgage securities it had earlier bought.

Enticing Fury

Pakistan Cyber Force

Bank of America suffering from huge losses

Read on Pakistan Cyber Force Facebook Page

• Subscribe to PCF Networked Blog Daily Updates
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The largest USZ Bank, Bank of America, has reported huge losses in the fourth quarter of fiscal 2010 year and revealed a streak of two consecutive quarters of non-profitability. Bank of America on Friday announced a fourth-quarter net loss of USZD 1.2 billion, or 16 cents a share, Forbes reported on Friday. The loss was driven by charges from pre-announced settlements and write-downs related to mortgage problems. Bank of America's revenue was also down 11% in the quarter to USZD 22.7 billion, which was well behind analysts' expectations. Analysts had been expecting a USZD 3 billion charge after the bank said it would pay USZD 1.28 billion to Freddie Mac and USZD 1.52 billion to Fannie Mae in a bid to buy back toxic mortgages.

For the full year of 2010, Bank of America reported a net loss of USD 2.2 billion or 37 cents per share. Bank of America's earnings have been dominated by costs from bad mortgages sold by its sub-prime mortgage unit, Countrywide, during the housing crisis of 2008. Countrywide has cost the bank more than USZD 5 billion in write-downs over the previous two years. Private investors have taken legal actions against Bank of America to compel it buy back mortgages sold on the open market. The financiers argue that the mortgages didn't keep to the underwriting policies of government-sponsored enterprises of Freddie Mac and Fannie Mae. Bank of America and other former Countrywide executives are currently facing numerous law suits over attempts to force lenders to buy back loans that may have been made with incorrect data on income and home values. In December, America's largest home and car insurance company, Allstate, sued Countrywide for miscalculating misrepresenting the risks on more than USZD 700 million of mortgage securities it had earlier bought.

Enticing Fury

Pakistan Cyber Force

IMF draculas upset about restoration of Petrol prices in Pakistan

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The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force

IMF draculas upset about restoration of Petrol prices in Pakistan

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The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force

IMF draculas upset about restoration of Petrol prices in Pakistan

Read on Pakistan Cyber Force Facebook Page

• Subscribe to PCF Networked Blog Daily Updates
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The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force

IMF draculas upset about restoration of Petrol prices in Pakistan

Read on Pakistan Cyber Force Facebook Page

• Subscribe to PCF Networked Blog Daily Updates
• Subscribe to our Twitter/Google/Yahoo Daily Updates

The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force

IMF draculas upset about restoration of Petrol prices in Pakistan

Read on Pakistan Cyber Force Facebook Page

• Subscribe to PCF Networked Blog Daily Updates
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The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force

IMF draculas upset about restoration of Petrol prices in Pakistan

Read on Pakistan Cyber Force Facebook Page

• Subscribe to PCF Networked Blog Daily Updates
• Subscribe to our Twitter/Google/Yahoo Daily Updates

The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force

IMF draculas upset about restoration of Petrol prices in Pakistan

Read on Pakistan Cyber Force Facebook Page

• Subscribe to PCF Networked Blog Daily Updates
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The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force

98 USZ banks going bankrupt

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Around one hundred USZ banks which had been rescued by the federal government are facing the prospect of bankruptcy once again, a study finds. A total of 98 unsteady banks that were bailed out by Washington authorities received more than $4.2 billion from the Treasury Department under the Troubled Asset Relief Program (TARP), a recent analysis of federal data by the Wall Street Journal reveals. According to the study, TARP was originally created in the middle of the US financial crisis to help only healthy banks. Seven TARP recipients have already failed, resulting in more than $2.7 billion in lost TARP funds. Most of the troubled TARP recipients are small, plagued by unregulated lending programs from which they might not recover.

The average size of the 98 banks was $439 million in assets as of Sept. 30. The median TARP infusion for each was $10 million, the study shows, citing federal filings. The journal calculations also demonstrate that 814 of the country's 7,760 banks and savings institutions are troubled at the end of America's third-quarter financial period, which is up from 729 at the end of the second quarter. However, figures from the Federal Deposit Insurance Corporation (FDIC) have identified 860 financial institutions as problematic. The banks have not been publicly identified. In October, the Government Accountability Office said 78 banks on the FDIC's troubled-bank list as of June 30 were TARP recipients, up from 47 at the end of 2009. Dozens of TARP banks were "marginal institutions" that were financially weaker than other recipients and should have gotten more scrutiny before receiving taxpayer-funded infusions, the Government Accountability Office said.

Enticing Fury

Pakistan Cyber Force

98 USZ banks going bankrupt

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Around one hundred USZ banks which had been rescued by the federal government are facing the prospect of bankruptcy once again, a study finds. A total of 98 unsteady banks that were bailed out by Washington authorities received more than $4.2 billion from the Treasury Department under the Troubled Asset Relief Program (TARP), a recent analysis of federal data by the Wall Street Journal reveals. According to the study, TARP was originally created in the middle of the US financial crisis to help only healthy banks. Seven TARP recipients have already failed, resulting in more than $2.7 billion in lost TARP funds. Most of the troubled TARP recipients are small, plagued by unregulated lending programs from which they might not recover.

The average size of the 98 banks was $439 million in assets as of Sept. 30. The median TARP infusion for each was $10 million, the study shows, citing federal filings. The journal calculations also demonstrate that 814 of the country's 7,760 banks and savings institutions are troubled at the end of America's third-quarter financial period, which is up from 729 at the end of the second quarter. However, figures from the Federal Deposit Insurance Corporation (FDIC) have identified 860 financial institutions as problematic. The banks have not been publicly identified. In October, the Government Accountability Office said 78 banks on the FDIC's troubled-bank list as of June 30 were TARP recipients, up from 47 at the end of 2009. Dozens of TARP banks were "marginal institutions" that were financially weaker than other recipients and should have gotten more scrutiny before receiving taxpayer-funded infusions, the Government Accountability Office said.

Enticing Fury

Pakistan Cyber Force

98 USZ banks going bankrupt

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Around one hundred USZ banks which had been rescued by the federal government are facing the prospect of bankruptcy once again, a study finds. A total of 98 unsteady banks that were bailed out by Washington authorities received more than $4.2 billion from the Treasury Department under the Troubled Asset Relief Program (TARP), a recent analysis of federal data by the Wall Street Journal reveals. According to the study, TARP was originally created in the middle of the US financial crisis to help only healthy banks. Seven TARP recipients have already failed, resulting in more than $2.7 billion in lost TARP funds. Most of the troubled TARP recipients are small, plagued by unregulated lending programs from which they might not recover.

The average size of the 98 banks was $439 million in assets as of Sept. 30. The median TARP infusion for each was $10 million, the study shows, citing federal filings. The journal calculations also demonstrate that 814 of the country's 7,760 banks and savings institutions are troubled at the end of America's third-quarter financial period, which is up from 729 at the end of the second quarter. However, figures from the Federal Deposit Insurance Corporation (FDIC) have identified 860 financial institutions as problematic. The banks have not been publicly identified. In October, the Government Accountability Office said 78 banks on the FDIC's troubled-bank list as of June 30 were TARP recipients, up from 47 at the end of 2009. Dozens of TARP banks were "marginal institutions" that were financially weaker than other recipients and should have gotten more scrutiny before receiving taxpayer-funded infusions, the Government Accountability Office said.

Enticing Fury

Pakistan Cyber Force

98 USZ banks going bankrupt

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Around one hundred USZ banks which had been rescued by the federal government are facing the prospect of bankruptcy once again, a study finds. A total of 98 unsteady banks that were bailed out by Washington authorities received more than $4.2 billion from the Treasury Department under the Troubled Asset Relief Program (TARP), a recent analysis of federal data by the Wall Street Journal reveals. According to the study, TARP was originally created in the middle of the US financial crisis to help only healthy banks. Seven TARP recipients have already failed, resulting in more than $2.7 billion in lost TARP funds. Most of the troubled TARP recipients are small, plagued by unregulated lending programs from which they might not recover.

The average size of the 98 banks was $439 million in assets as of Sept. 30. The median TARP infusion for each was $10 million, the study shows, citing federal filings. The journal calculations also demonstrate that 814 of the country's 7,760 banks and savings institutions are troubled at the end of America's third-quarter financial period, which is up from 729 at the end of the second quarter. However, figures from the Federal Deposit Insurance Corporation (FDIC) have identified 860 financial institutions as problematic. The banks have not been publicly identified. In October, the Government Accountability Office said 78 banks on the FDIC's troubled-bank list as of June 30 were TARP recipients, up from 47 at the end of 2009. Dozens of TARP banks were "marginal institutions" that were financially weaker than other recipients and should have gotten more scrutiny before receiving taxpayer-funded infusions, the Government Accountability Office said.

Enticing Fury

Pakistan Cyber Force