News

Recession Briefing: Museums Benefit from Downturn (Sort Of)

What you need to know today to survive and thrive in the recession.

Many museums across the country saw a spike in visitors during the economic slump last year, even as they experienced increasing financial stress, according to results of a study released Thursday. (Associated Press)

One thing employment-services firm Manpower has got better at during the recession is figuring out quickly which job-hunters can be helped, and which to send elsewhere rather than risk leading them on. (Economist)

It cost more than $500,000 in stimulus funds to create a single highway construction job, largely because of building materials, an analysis of stimulus reports shows. Education aid and research funding are among the cheapest ways of creating or saving jobs at less than $60,000 each, the analysis shows.( USA Today)

The U.S. is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg, the outgoing Republican senator for New Hampshire. (Financial Times)

The Obama administration may expand efforts to ease the housing crisis by banning all foreclosures on home loans unless they have been screened and rejected by the government’s Home Affordable Modification Program. (Bloomberg)

Financial data yesterday sparked “an escalation of the mini-panic over a double dip,” said James Paulsen, chief investment strategist at Wells Capital Management. “People are looking for a double dip, and the talk about it will get louder.” (Chicago Tribune)

Really? Nearly three-quarters of Britons believe they are better off now than before the recession, says a study. It found that 72% feel more positive about finances because the slump has taught them to look after money, and 61% said they no longer spend on things they don’t really need. (Mirror)

In an explosive new book, Bernie Madoff whistleblower Harry Markopolos tells the inside story of how he uncovered the $65 billion fraud, claims that he exposed State Street’s alleged fraud of pension funds and admits that he considered the idea of killing Madoff if he was ever threatened by the Ponzi schemer. (Huffington Post)

The Federal Reserve disclosed it was investigating Goldman Sachs and other banks that helped Greece mask its debts, and investors grew increasingly leery of lending any more money to a nation flirting with default. (New York Times)

The Federal Deposit Insurance Corp. is developing a program to test whether cutting the mortgage balances of distressed borrowers who owe significantly more than their homes are worth is an effective method for saving homeowners from foreclosure. (Washington Post)

If you come across a good article or blog post about the recession pass it on. To receive Recession Briefing in your inbox, subscribe to our daily email.

Tags: banks, Bernie Madoff, jobs, layoffs, obama, politics, Wall Street