San Bernadino, a city of 210,000, just filed for chapter 9 bankruptcy on Tuesday. If you are keeping score, that is 3 cities in a row in just as many weeks that have filed for bankruptcy. Do you think there are going to be more in the coming weeks and months?
Remember Denise Rich? She is the same lady who was married to Marc Rich, who was once a tax fugitive. She is the one who donated a boat load of money to President Clinton, who then pardoned her ex-husband. Well, it looks like she just renounced her American citizenship for family (tax?) reasons... If we keep banging on the wealthy folks in America, pretty soon we won't have any left to support the politicians.
In other parts of the world, Prime Minister Rojoy of Spain is having to swallow the bitter pill of reality. Austerity programs are being demanded by the rest of the gang of 17 who make up the Euro zone. "Peseta, anyone?"
TODAY'S MARKET MOVING SECTORS and STOCKS:
Percentage changes in stocks are relative to the S&P 500
|CONSUMER GOODS: -0.29%||Biggest Loser DF -6.88%|
|SERVICES: -0.34%||Biggest Loser BBY -5.42%|
|HEALTHCARE: -0.31%||Biggest Loser PCYC -9.39%|
|ENERGY: +0.84%||Biggest Winner RDC +3.32%|
|TECHNOLOGY: -0.31%||Biggest Loser GRPN -6.68%|
|FINANCIAL: +0.26%||Biggest Winner MS +2.05%|
|INDUSTRIAL GOODS: -0.85%||Biggest Loser WWD -4.63%|
|BASIC MATERIALS: -0.23%||Biggest Loser ROC -2.66%|
|UTILITIES: +1.06%||Biggest Winner HTM +6.02%|
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