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...once again, Las Vegas is headlining. Even worse, the bottom fell out as casino owners were building, so a number of them couldn't replace construction loans with the financing that was once readily available to complete and open hotel-condo-casino projects. Deutsche Bank foreclosed on the $3.9 billion Cosmopolitan Hotel; only it couldn't find a buyer, so the bank is in the odd position of owning a casino - though given the way banks have operated in this decade, that seems like a logical business extension. Meanwhile, Station Casinos, Tropicana and Herbst Gaming have disproved the adage that...
...France and Germany's Q2 economic growth was also fueled by increased business investment financed in large part by governmental stimulus plans introduced late last year: $37 billion for France and $67 billion for Germany. But the economic engines revved up by those funds could still stall anew if organic activity doesn't pick up the slack. And that's not guaranteed to happen. Consumer spending also contributed to growth in France and Germany, thanks to falling prices. Those prices, though, will soon stabilize and start rising, which may act as a brake on growth in the near future...
Soros was aiming his donation at a part of President Barack Obama's stimulus package that hasn't garnered much attention until now: a 4-to-1 federal matching program designed to help states assist poor families. This $5 billion pot of cash was set aside as an emergency fund to supplement the 12-year-old Temporary Assistance for Needy Families (TANF) program, i.e., the one that Bill Clinton boasted in 1996 would end "welfare as we know...
TANF typically provides cash assistance to families with no jobs. But as the recession has worsened, several states have seen a rise in the number of people needing welfare and food stamps. The stimulus fund allows states to do several things with their share of the $5 billion pool as long as they - or private groups like Soros' - pony up 20% of the overall cost; the feds cover the remainder. States can 1) provide more cash payments to families, 2) subsidize additional jobs or 3) set up onetime, nonrepeating benefit programs. New York's Back to School initiative, which used...
...American government has committed $17 million towards training Liberia's police force, just a small portion of the over $2 billion the U.S. Government has spent in Liberia since 2003, the highest number of aid dollars spent per capita anywhere in the world. Clinton and President Johnson Sirleaf's camaraderie is an indication that U.S. support of Liberia will continue. At a lunch event, Clinton even promised President Johnson Sirleaf she would soon read her recent memoir, This Child Will Be Great. Read "In Liberia, Sirleaf's Past Sullies her Clean Image" Read "Sweet Ride: Surfing in Liberia...