U.S. Takes $9.7 Bil Hit in GM Bailout

President Obama loves taking credit for saving the American auto industry and this week a federal audit reveals that the rescue effort has fleeced U.S. taxpayers out of an astounding $ 9.7 billion. While this may seem inconceivable to most, the numbers don’t lie. The United States Treasury has recorded a $ 9.7 billion loss […]

Pentagon requests $49 million to build new prison at Guantanamo for ‘special’ detainees

ShareThis Pentagon requests $ 49 million to build new prison at Guantánamo for ‘special’ detainees 21 Mar 2013 The United States Southern Command has requested $ 49 million to build a new prison building at Guantánamo Bay, Cuba, for “special” detainees prisoners on top of other renovations it says are necessary since Congress has decided […]

Obama defends energy policies amid gas price pain

By Alister Bull, Reuters.com President Barack Obama launched the most comprehensive defense to date of his energy policies on Monday, pushing back against election-year attacks from Republicans who say they are to blame for high gas prices that are eroding his popularity with voters. Heralding a report on energy security showing a big drop in […]

Study says ambitious people live shorter, unhappier lives

People who attended America’s most prestigious schools may seem to have the world by the tail, but it turns out all that high achievement may come at a steep price. The ambitious alumni of elite universities such as Harvard, Yale and Princeton don’t live as long as those who are less upwardly mobile, and they’re […]

Gas Prices Could Hit $5 by Summer

By: CNBC As the average gas price nationwide climbs towards $ 4 a gallon, analysts and energy experts are forecasting that prices could hit the $ 5 mark at the pumps this summer. Rising gas prices could set the economy back. Crude prices surged last year, causing prices at the pump to shoot up. This […]

Soaring gas prices are giving drivers a new round of pain at the pump

The average price for a gallon of gas in the LA-Long Beach area has jumped to $4.25 a gallon, which is up six cents from Thursday, and 25 cents from a week ago. Prices in the Southland are as high as $5.09 at a Chevron station in downtown Los Angeles, while Burbank’s Fleet Fueling is […]

10 Places Where a Gallon of Gas Is More Expensive Than in the U.S.

If it’s been a while since you filled up, you might be in for a rude awakening the next time you visit the gas station. Prices have been rising steadily in the past few weeks on skyrocketing crude oil prices; the cost of a gallon of regular gas stands at $3.57, up 19 cents from […]

Price Shock: Watch Cost of Gas Jump 10 Cents During ABC’s ‘World News’ Broadcast

By Sarah Amos, ABCNews.com The headlines of major newspapers and TV networks this week have been dominated by rising gas prices. Drivers across the country have shared their stories on the cost – with many already paying more than $ 4 a gallon at the pump. There have even been reports of gas prices rising […]

Bonds Backed by Mortgages Regain Allure

By: Azam Ahmed, The New York Times Some Wall Street investors made money as the mortgage market boomed; others profited when it fell apart. Having reaped big gains during both of those turns, Greg Lippmann, a former star trader at Deutsche Bank, is now catching the next upswing: buying the same securities built from mortgages […]

Gas prices are highest ever for this time of year

By Beth Fouhy & Chris Kahn, CNBC.com NEW YORK – Gasoline prices have never been higher this time of the year. At $ 3.53 a gallon, prices are already up 25 cents since Jan. 1. And experts say they could reach a record $ 4.25 a gallon by late April. “You’re going to see a […]