The New York Times reports Friday that due to Obama administration cutbacks in spending on weapons systems, defense manufacturer Boeing has intensified its lobbying efforts. The Times reports that Boeing has been hit harder than any other major contractor and has lost tens of billions of dollars of potential business after the Pentagon canceled or delayed plans for combat defense systems. “The defense industry is grappling with the fact that the big increases of the Bush years are now over,” said Loren B.

According to foodconsumer.org : Department of Health and Human Services Secretary Kathleen Sebelius has not only given immunity to the makers of Tamiflu and Relenza for injuries stemming from their use against swine flu, she has granted immunity to future swine flu vaccines and ‘any associated adjuvants.’ The last time the government embarked on a major vaccine campaign against a new swine flu, thousands filed claims contending they suffered side effects from the shots. This time around, they will have no recourse. The 2006 Public Readiness and Emergency Preparedness Act (the PREP Act) allows the DHHS Secretary to invoke almost complete immunity from liability for manufacturers of vaccines and drugs used to combat a declared public health emergency

Yesterday, Bloomberg reported that Wells Fargo plans to raise interest rates on all credit card customers by 3% on November 30 th . Funny coincidence- House Financial Services Committee Chairman Barney Frank wants to speed up the enactment of the Credit Card Act from February 22, 2010 to December 1.

NEW YORK — Occidental Petroleum will buy Citigroup’s oil and gas trading unit Phibro for $250 million, the companies said Friday Citigroup Inc. has come under fire for the hefty 2009 pay package for Andrew J. Hall, the leader at Phibro.

In an interview with CNBC today, billionaire investor Carl Icahn warned that the economy is still “on a precipice.” Because the market is acting “schizophrenic,” a stock recovery does not, he said, necessarily indicate that the economy is cured. “It’s a myth to say the market is a good indicator of the economy. I think individuals are much more of an indicator,” he said

If you’re in the market for a house in Stockton, Calif., then we have a deal for you! There’s a house on the market for $25,000.