Economy

9 banks teetering after bad land bets

After betting heavily on real estate lending, about a third of Utah’s smaller community banks are teetering between collapse and survival after the worst land-value crash in memory. Read More Here

(Bloomberg) – Video: Jim Rogers Discusses Bernanke Reappointment – Fed Policy Video Link Here

(CNBC) – Ron Paul on CNBC’s Squawk Box: Debate on Bernanke and the Fed Video Link Here

(Bloomberg) – Fed E-Mail to Geithner Cites Bank Benefit From AIG

Timothy F. Geithner, who has denied that the financial condition of American International Group Inc.’s bank counterparties was a consideration in structuring the insurer’s bailout, was told by a senior colleague that the rescue was a way to remove “uncertainty” for the firms. Read More Here

(WSJ) – DynCorp’s Iraq Contracts With U.S. Are Scrutinized

The U.S. State Department is struggling with its accounting for billions of dollars spent on police-training contracts in Iraq with DynCorp International Inc. Read More Here

(Reuters) – Record number of young Americans jobless

The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released on Tuesday. Read More Here

Pete DuPont: Coming Tax Hikes Will Cause Greater Economic Collapse Than 2008-09

Wall Street Journal op-ed, An Economic Time Bomb: Even If Congress Does Nothing, Tax Hikes Will Hit Hard a Year From Now, by Pete DuPont (Chairman of the Board, National Center for Policy Analysis): Read More Here

(TampaBay) – Pinellas County’s $40 million shortfall will mean layoffs and program cuts

Pinellas County needs to cut spending by 10 percent to solve a $40 million budget deficit for next year, County Administrator Bob LaSala announced Tuesday. Read More Here