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Tag: Bailout


AP / Jason DeCrow

What Do They Want? Justice

How can anyone possessed of the faintest sense of social justice not thrill to the Occupy Wall Street movement now spreading throughout the country?

Posted on Oct 6, 2011 READ MORE



AP / J. Scott Applewhite

The Men We Trusted to Lead Us

Why are Ben Bernanke and Barack Obama just now discovering that there is a jobs crisis in this country?

Posted on Sep 28, 2011 READ MORE


When Socialism Saves Capitalism

Have you noticed that one of the Obama administration’s most successful programs is also its most “socialist” initiative?

Posted on Sep 21, 2011 READ MORE


America the Passive

Democrats should be building statues of former Michigan Gov. Jennifer Granholm, or at least giving away copies of her new book, "A Governor’s Story."

Posted on Sep 21, 2011 READ MORE


Italy Inclined

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Posted on Sep 20, 2011 READ MORE


European Union Life Raft

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Posted on Sep 18, 2011 READ MORE


Greek Euro

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Posted on Sep 15, 2011 READ MORE



Office of House Minority Leader Nancy Pelosi

Elizabeth Warren Is Running for the Senate

In the past few years, Elizabeth Warren proved herself one of the very few people in government committed to actually doing something about Wall Street greed, and she got kicked to the curb as a result. Now she is hoping to win back Ted Kennedy’s Senate seat from Republican Scott Brown. (more)

Posted on Sep 14, 2011 READ MORE


Obama Labor Day Speech (Video and Transcript)

On Monday the president celebrated working people and the contributions of unions to our society and he previewed some of the proposals in his forthcoming jobs plan at an AFL-CIO-sponsored speech in a GM parking lot.

Posted on Sep 5, 2011 READ MORE



White House / Samantha Appleton

Obama Previews Jobs Agenda

The president will officially unveil his plan to create jobs and rescue the economy at a joint session of Congress on Thursday, but he offered a sneak peek Monday to union workers in Detroit. It comes down to bridges and taxes. (more)

Posted on Sep 5, 2011 READ MORE



Bush White House / Paul Morse

Always Some Bushie There to Remind Us

Thank you, George W. Bush and Dick Cheney, for emerging from your secure, undisclosed locations to remind us how we got into this mess: It didn’t happen by accident.

Posted on Sep 1, 2011 READ MORE



Flickr / Wonderlane (CC-BY)

Buffett Pumps Up Bank of America

Warren Buffett’s company Berkshire Hathaway negotiated a $5 billion investment with Bank of America on Thursday, a vote of confidence in the recently ailing institution. (more) [Earlier Thursday, Truthdig erroneously reported the figure as $5 million.]

Posted on Aug 25, 2011 READ MORE



Flickr / stevendamron

A Look at the ‘Bush-Obama’ Presidency

Essayist, Yale English professor and TomDispatch contributor David Bromwich takes a careful accounting of the “sacked” and “saved” members of the Obama administration in an attempt to reveal the similarities between his presidency and George W. Bush’s. (more)

Posted on Aug 22, 2011 READ MORE



how will i ever (CC-BY-SA)

Naomi Klein on Riots and Resistance

Britain’s riots were not political, we are assured, and looting is simply un-British, but “Shock Doctrine” author Naomi Klein takes a different view: From Iraq to Argentina, when corrupt elites pass the bill to the struggling masses, civil unrest is to be expected.

Posted on Aug 16, 2011 READ MORE



Jacob Bøtter (CC-BY)

Another Bailout Joins the Goofball Economy

The whole thing is nuts. The economy is a shambles, saved from a free fall only by the Federal Reserve’s unprecedented promise of free money for banks for at least two years.

Posted on Aug 9, 2011 READ MORE



Tony the Misfit (CC-BY)

The Bizarro FDR

Barack Obama is a lot of things—eloquent, dissembling, conniving, intelligent and above all, calm. But one thing he is not is weak.

Posted on Aug 4, 2011 READ MORE



AP / Carolyn Kaster

Debt Madness Was Always About Killing Social Security

Republican hypocrites are out to settle ideological scores that have nothing to do with the debt they themselves ran up.

Posted on Jul 27, 2011 READ MORE


Greece Bailout

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Posted on Jul 24, 2011 READ MORE



AP / Pablo Martinez Monsivais

Sorry Elizabeth, Wall Street Said No

Obama’s gutless decision to abandon Elizabeth Warren comes after the president populated his administration with the very people who created the financial meltdown.

Posted on Jul 19, 2011 READ MORE


Kebab Obama

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Posted on Jul 19, 2011 READ MORE



AP / Pablo Martinez Monsivais

The GOP’s Sick Priorities

These threatened programs are not government handouts to a privileged class, like defense contractors and bailed-out bankers, who do feel eminently entitled to pig out at the federal trough.

Posted on Jul 12, 2011 READ MORE


IMF

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Posted on Jul 10, 2011 READ MORE


Papandreou Among the Ruins

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Posted on Jul 10, 2011 READ MORE


Greek Lessons

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Posted on Jul 1, 2011 READ MORE


Greece and EU Attempt to Avoid Disastrous Default

Athens in recent days has experienced continuing popular protest, sporadically violent, against the economic austerity program demanded of Greece by the IMF.

Posted on Jun 29, 2011 READ MORE



AP / Giorgos Kontarinis / Eurokinissi

In Greece, ‘Fiscal Suicide’ Was Not an Option

Despite thousands of protesters’ fierce opposition to the PM’s austerity plan and with calls of “traitor” ringing in their ears, members of the Greek Parliament voted Wednesday in favor of economic solvency rather than popular opinion. (more)

Posted on Jun 29, 2011 READ MORE


Ten and Out?

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Posted on Jun 21, 2011 READ MORE


Greek Austerity Protests

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Posted on Jun 19, 2011 READ MORE


Greece

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Posted on Jun 18, 2011 READ MORE


The Difference Between Rhetoric and Reality

President Obama went over to Toledo, Ohio, to thank the workers at a Chrysler plant for the bailed-out auto industry’s newfound profitability, but, as this video attests, the workers of that community are not feeling the love from Obama’s corporate welfare.

Posted on Jun 16, 2011 READ MORE


Greece’s Economic Crisis

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Posted on Jun 14, 2011 READ MORE


Wall Street
Wikimedia Commons / Martin St.-Amant

Obama Pitches Woo to Wall Street

Though he once referred to them as “fat cats,” President Obama now has to sing a different tune to Wall Street’s bigwigs in order to persuade them to open their wallets as he revs up for campaign 2012. Awkward!

Posted on Jun 13, 2011 READ MORE



AP / Paul Sakuma

Three Banks Spanked for Subpar Mortgage Practices

In a startling move, the Obama administration is holding three major banks—Wells Fargo, Bank of America and JPMorgan Chase—accountable for their bad lending habits on the mortgage market, cutting off funds from the Home Affordable Modification Program until they shape up.

Posted on Jun 10, 2011 READ MORE



AP / Alex Brandon

The Bernanke Scandal: Full-Frontal Cluelessness

How I wish that Ben Bernanke would get caught emailing photos of his underwear-clad groin. Otherwise we don’t stand a chance of reversing this administration’s economic policy, which is shaping up to be every bit as disastrous as that of its predecessor. 

Posted on Jun 7, 2011 READ MORE


Greek Economy

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Posted on Jun 5, 2011 READ MORE


Playing With Default

The current puppet play in Congress—where Republicans sponsored a bill to raise the nation’s debt ceiling only because they wanted to vote it down—would be funny, if only they weren’t risking economic disaster.

Posted on Jun 5, 2011 READ MORE



AP / Charles Dharapak

Geithner and Goldman, Thick as Thieves

What was Timothy Geithner thinking back in 2008 when, as president of the New York Fed, he decided to give Goldman Sachs a $30 billion interest-free loan as part of an $80 billion secret float to favored banks? The sordid details of that program were finally made public this week in response to a court order for a Freedom of Information Act release, thanks to a Bloomberg News lawsuit.

Posted on May 31, 2011 READ MORE



Flickr/Images_of_Money

Plummeting Prices Deepen Crisis in U.S. Housing Market

According to at least some sources, certain sectors of the American economy are showing signs of life, but the housing market sure isn’t one of them, especially considering the news expected to surface Tuesday that prices have now dipped below the previous lowest point recorded since this recession kicked in three years ago. The recession’s earlier bottom for housing prices occurred in 2009.

Posted on May 30, 2011 READ MORE



AP/ Chris Pizzello

Exclusive: Ry Cooder’s ‘No Banker Left Behind’

The legendary musician tells Robert Scheer that his new album, including a song inspired by one of Scheer’s Truthdig columns, was written out of feeling frustrated, helpless and angry with current events.

Posted on May 26, 2011 READ MORE



imdb.com

Access Journalism: The Movie

It is not true, as a Wall Street Journal reviewer claimed, that the HBO movie version of Andrew Sorkin’s book “Too Big to Fail” was “Too Boring to Watch.” On the contrary, the problem with the film, as with the richly anecdotal book, is that it is all too effectively misleading. 

Posted on May 24, 2011 READ MORE



timpawlenty.com

Here Comes Tim Pawlenty

As expected, erstwhile Minnesota Gov. Tim Pawlenty has come rumbling into the ring to challenge Barack Obama for the presidency in 2012. In launching his bid, T-Paw ran through the GOP’s list of top gripes with the current administration: the bailout, the stimulus and, of course, “Obamacare.” And he’s going to tell the truth!

Posted on May 23, 2011 READ MORE


Dominique Strauss-Kahn

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Posted on May 23, 2011 READ MORE



AP / Shannon Stapleton, pool

The Real IMF Assault

As newly resigned International Monetary Fund head Dominique Strauss-Kahn hunkers down in his jail cell, IMF news has fallen into two categories. Both miss the devastation the IMF causes, regardless of who heads it.

Posted on May 20, 2011 READ MORE



AP / Frank Franklin II

Truthdigger of the Week: Eric Schneiderman

This week we celebrate New York’s attorney general for refusing to let Wall Street off the hook. (More, including honorable mentions, after the jump).

Posted on May 20, 2011 READ MORE



AP / Frank Franklin II

One Lawman With the Guts to Go After Wall Street

The fix was in to let Wall Street off the hook once and for all for its role in the Great Recession ... until last week when the attorney general of New York refused to go along.

Posted on May 17, 2011 READ MORE



Flickr / Protest Photos1

N.Y. Attorney General Wants Answers From Big Banks

Homing in on mortgage-backed securities, New York Attorney General Eric Schneiderman has requested records from Bank of America, Morgan Stanley and Goldman Sachs as part of a broad investigation into the causes of the financial meltdown of 2008. (more)

Posted on May 17, 2011 READ MORE



AP / Pablo Martinez Monsivais

The Obama Deception: Why Cornel West Went Ballistic

The celebrated intellectual did 65 campaign events for Barack Obama and now nurses the anguish of the deceived, manipulated and betrayed. During their last personal encounter, West says, “I wanted to slap him on the side of his head.”

Posted on May 16, 2011 READ MORE


The Government: Credit Where Credit Is Due

Don’t expect to see a lot of newspapers and websites with this headline: “Big Government Bailout Worked.” But it would be entirely accurate.

Posted on May 8, 2011 READ MORE


Clooney
Wikimedia Commons / Efloch

Clooney Zeroes In on ‘The $700 Billion Man’

Does the name Neel Kashkari ring a bell? Think way back to the year 2008, when the word bailout was just entering the vernacular in relation to Wall Street, not prison, and when Henry Paulson was still in charge of the Treasury Department.

Posted on Apr 14, 2011 READ MORE



AP / Charles Dharapak

The False Debate on the Debt

In the ever-so-smug company of the rich and powerful, it is a given that there is never to be any expression of remorse or other acknowledgement of the pain they have inflicted on the lesser mortals they so cavalierly plunder.

Posted on Apr 13, 2011 READ MORE


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