Keeping an eye on the surprises in the reports!
The Week in Review:
This was certainly a busy week as far as the financial news and reports go! Seems like college football players aren’t the only ones getting in their workouts as any reporters on the financial scene have certainly had their share of work this week. As a brief overview, there are some major stories taking place that are going to be of interest to anyone following the world economies. The jobless rate is officially at 9.7% in the United States, though numbers indicate that there may be a “rounding out” or “bottoming out” to suggest that the recession has hit its low point and a recovery might be on its way. That being said, whether or not this recovery will happen in time to avoid the 10% unemployment mark, a major psychological barrier, is hard to say.
European nations are also making a strong call on the G-20 to tackle the perceived issue of banks and bankers bonuses being completely out of control. This strong call could result in the beginning of some very interesting changes in how the banking industry is overseen and regulated in the coming years.
Pfizer was also leveled with a $2.3 billion dollar fine, the largest in history, for their illegal activities associated with promoting a dangerous drug. The way this plays out during a time of mass outrage against giant corporations will be something worth keeping an eye on, especially in the midst of trying to overhaul the American health care system.
That’s a good introduction, and there are plenty of actual economic reports to get to, so without any further wait, here is this week’s report on the week in review.
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