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2011 November 03 — Why Now?
On-line Opinion Magazine…OK, it's a blog
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And Things Continue To Fade

The BBC reports that Greece PM Papandreou faces fresh call to resign

Greece’s centre-right opposition has demanded Prime Minister George Papandreou resign, throwing into disarray plans for a unity government.

Opposition leader Antonis Samaras also called for snap elections before leading his MPs in a dramatic walkout of parliament.

Mr Papandreou’s government faces a crucial confidence vote on Friday.

He earlier said that opposition support could mean dropping controversial plans for a referendum on an EU bailout.

I’m with ‘Noz, Papandreou should get while the getting is good, and not stand at the helm while Sarkozy and Merkel force the Greeks over the waterfall. There is a much better solution to the problem, but banks don’t want it to happen.

CNN/Money reports on two studies that show that Many companies pay no income taxes, study finds. They are raking in record profits, but some of them are actually applying for rebates. There is an Alternate Minimum Tax for individuals, but no equivalent for corporations. The average effective tax rate for the Fortune 500 seems to be around 18.5%, not the 35% that people claim it is.

In the better news column is an article that notes that in the last four weeks credit unions have gained 650,000 new members and $4.5 billion in deposits. During all of last year only 600,000 people joined credit unions. The switch corresponds to the Bank of America decision to start charging customers for debit card use.

November 3, 2011   4 Comments