Well, late is better than never I suppose. From the article: “On the practical side, Obama has spent more money on new programs in nine months than Bill Clinton did in eight years, pushing the annual deficit to $1.4 trillion.” He’ll never “cut the deficit” more than he’s already added, or plans to add, with this new healthcare for hobos plan.

nytimes.com : NEW YORK (Reuters) – Roomy Khan, one of several former traders cooperating with the prosecution of the biggest U.S. hedge fund insider trading case, told a judge she tipped several people at hedge funds with inside information on companies to make money from trades, according to a court document.

FHA runs low on cash, fueling bailout concerns – The Boston Globe FHA’s Reserves Drop Below Level Required by Congress – WSJ.com Next up for a bailout: the FHA (Jack Bog’s Blog) Audit: Taxpayer bailout may be needed for FHA – Related Stories – CPA Letter Dai…

WASHINGTON — Sources close to God reported Thursday that the Supreme Being was angered at recent comments by Goldman Sachs CEO Lloyd Blankfein that’s he’s just a banker “doing God’s work.” Blankfein’s comments, God and other experts believe, stand in sharp contrast to the firm’s track record as helping spur all major crashes since the Great Depression through the manipulation of markets. It’s latest role: selling to investors nearly-worthless mortgage-backed securities while secretly betting that the housing market would crash, according to McClatchy newspapers.

NEW YORK — JPMorgan Chase & Co. reported strong third-quarter earnings Wednesday as its thriving investment banking business more than offset rising loan losses that the bank warned would continue for the foreseeable future. JPMorgan, the first of the big banks to report earnings for the July-September period, reported a $3.59 billion profit but also said it roughly doubled the amount of money it set aside for failed home and credit card loans in the quarter

Editor’s Note : Money Morning Chief Investment Strategist Keith Fitz-Gerald’s new book – “Fiscal Hangover” – will be published on Monday. By Keith Fitz-Gerald Chief Investment Strategist Money Morning/The Money Map Report When it comes to global manufacturing, Mexico is quickly emerging as the “new” China. According to corporate consultant AlixPartners , Mexico has leapfrogged China to be ranked as the cheapest country in the world for companies looking to manufacture products for the U.S.