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 . '/' . substr('9780871404107',-6,3) . '/' . '9780871404107' . '.jpg'; ?>)
Edited by Peter Davison
$39.95
By Saïd Sayrafiezadeh
$14.96
$23
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By davelawrence8
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In his latest takedown of Mitt Romney, the New York Times columnist criticizes the Republican presidential nominee for his stance on the Fed’s latest effort to jump-start the economy.
Posted on Sep 17, 2012
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AP/Barry Thumma
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By Robert Scheer — American families have lost 20 years of growth while at least 18 bankers and tycoons sat on Fed boards that coincidentally bailed out their institutions.
Posted on Jun 14, 2012
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Medill DC (CC BY 2.0)
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In spite of May’s weak jobs report, Fed Chairman Ben Bernanke still sees no reason for the central bank to expand its efforts to boost the American economy. The Fed is assessing whether the economy would continue to grow fast enough to reduce the unemployment rate without further intervention, he said.
Posted on Jun 7, 2012
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U.S. Treasury
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Just as Mitt Romney has locked up the Republican nomination on a boast of fiscal conservatism, President Obama’s Treasury Department has said it expects to turn a tidy $2 billion profit from TARP and other extraordinary measures taken to bail out the financial industry.
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Jon Wade (CC-BY)
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Despite hefty bailouts and infinitesimal interest rates, Citi, Ally Financial, MetLife and SunTrust were not able to pass the latest round of stress tests designed and measured by the Federal Reserve.
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AP / Charlie Riedel
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By Robert Scheer — Paul is being denigrated as a presidential contender even though on the vital issues of the economy, war and peace, and civil liberties, he has made the most sense of the Republican candidates.
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An Israeli woman is relegated to the back of the bus by a group of Orthodox Jews; New York celebs party with the Occupiers; and studying fish may be the key to understanding why uninformed voters are a necessary evil in our democracy. These discoveries and more after the jump.
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Pat Bagley, Cagle Cartoons, Salt Lake Tribune —
Posted on Sep 22, 2011
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Jacob Bøtter (CC-BY)
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By Robert Scheer — 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.
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AP / Susan Walsh
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This is not really the kind of headline we want to read about the Federal Reserve right now, but top banana Ben Bernanke acknowledged at a news conference Wednesday that the Fed was “caught off guard by recent signs of deterioration in the economy.”
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By Eugene Robinson — Ben Bernanke may or may not succeed in saving the economy, but at least he has the courage to try—and the honesty to tell the truth. The same cannot be said of our elected officials.
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Wikimedia Commons / Robert Mihaly (CC-BY-SA)
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Thanks to Bernie Sanders and the new financial regulation passed by Congress, we’re learning more about the Federal Reserve’s $3.3 trillion bailout of Wall Street in 2008. It turns out the Fed lent money ... (more)
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Paresh Nath, Cagle Cartoons, The Khaleej Times, UAE —
Posted on Nov 15, 2010
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Flickr / jmlawlor
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The Federal Reserve is taking action to try to give the flagging U.S. economy a much-needed jolt by committing to buy up some of the government’s debt in the form of long-term Treasury securities.
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Flickr / Sister72 (CC-BY)
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He’s a one-man downer, but mainly because he’s smart, credible and pulls no punches. In his latest New York Times column, the Nobel Prize winner warns that the Federal Reserve isn’t taking a negative enough view of the economy—with potentially dire consequences. Happy Monday to you, too, Paul.
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Wikimedia Commons / U.S. Federal Reserve
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There are economic indicators that we want to be on the high end of the scale, but unemployment isn’t one of them. Unfortunately, according to Federal Reserve Chairman Ben Bernanke, the U.S. unemployment rate ... (continued)
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When big financial institutions got themselves into a serious pickle in the fall of 2008, the Federal Reserve was there with beaucoup bucks in loans to prop them up. On Tuesday, the Senate voted unanimously to launch an inquiry into the Fed’s lending practices during the financial crisis.
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The creator of “iBailout!!” says he wants to put his socially conscious games in front of a mainstream audience that might not normally engage with politics and activism.
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Nick Marroni says, “My goal is to make games that have social and political relevance.” To that end he has created a satirical iPhone game called “iBailout!!” You play as the “Fed,” a robot that eats money. Just don’t let the angry mob get you.
Posted on Feb 4, 2010
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Wikimedia Commons / Henry Han
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The Fed has been lending money at record-low rates, but instead of passing on the cash to businesses and consumers, big banks are rolling the dice in the financial markets. China and Japan have warned that these American high jinks could once again upend ... (continued)
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Flickr / freemarketmyass
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Fed Chair Ben Bernanke declared Tuesday that the recession is “very likely over at this point,” but don’t get too excited. The non-investment bankers among us still have a lot to worry about: “[I]t is still going to feel like a very weak economy for some time as many people still find their job security and their employment status is not what they wish it was.”
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Flickr / Roger@elaws ?
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A year after Lehman Brothers went under—taking a big chunk of the economy with it—the deregulation and lax oversight that enabled the crisis are still a problem. According to this New York Times report, things might even be worse.
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Federal Reserve
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After seemingly endless months of relentlessly distressing financial reports, Federal Reserve Chairman Ben S. Bernanke said Friday that the economic news is looking up on both the national and global economic fronts, and that “prospects for a return to growth in the near term appear good.”
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Flickr / The TruthAbout...
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Some of the country’s major banks are prepared to pay back money they borrowed under the TARP program, but don’t get too excited. The initial repayment is expected to be a meager $50 billion, which Timothy Geithner wants to inject right back into other troubled banks.
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telegraph.co.uk
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German Chancellor Angela Merkel expressed what she called “great skepticism” at the ability of central banks to resolve the economic crisis, hinting that reliance on the institutions in Europe, the U.S. and the U.K. might backfire.
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AP photo / Susan Walsh
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The good news: Federal Reserve Chairman Ben Bernanke believes the U.S. economy may show signs of bouncing back before 2010—yay! The bad news: Bernanke also believes that aftershocks from the recession may continue to wreak havoc for a good while to come—sigh.
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senate.gov
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Fed chief Ben Bernanke may be able to dole out trillions in the blink of an eye, but on Tuesday he ran headlong into Congress’ only independent democratic socialist. Sen. Bernie Sanders demanded to know where all the Fed’s money was going. Bernanke said “no.” Sanders fired back by introducing a bill that would require such information to be posted to the Fed’s Web site.
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Federal Reserve
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Ben Bernanke and his squad of rate setters are expected to cut interest by as much as three-quarters of a point on Tuesday. With rates already at 1 percent, we mortals are left wondering what the Fed chief plans to do when he runs out of rates to cut. Update
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publicradio.org
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The mortgage market got a lift following Tuesday’s announcement that the Federal Reserve was throwing in with a $600 billion resuscitation bid, but as Fortune’s Colin Barr points out, history offers at least two examples that the road ahead could be rocky.
Posted on Nov 25, 2008
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Flickr / LoopZilla
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What’s a hundred billion dollars between capitalists? The Fed and the Treasury are once again throwing good cash after bad business. This time the culprit is Citigroup, which could get bailed out—courtesy of you—to the tune of $100 billion. And with that, we’d like to announce that Truthdig is officially too big to fail. Update: Done deal.
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group30.org
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Former Federal Reserve Chairman Paul Volcker said Tuesday that the U.S. was already in a recession, despite the efforts of the U.S. government and other nations’ leaders to intervene. “I have seen a lot of crises but I have never seen anything quite like this one,” said Volcker, who headed up the Fed for eight years before Alan Greenspan took over in 1987.
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AP photo / Manuel Balce Ceneta
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There will hopefully come a day when the news from Wall Street is actually good (at the moment, anything better than utterly terrifying news would be nice), but Tuesday was not that day, despite Federal Reserve Chairman Ben Bernanke’s intimations that help could soon be on the way.
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Turns out that having Phil Gramm on one’s economic advisory team may not be the best way to demonstrate one’s readiness to inherit the gigantic mess that the U.S. economy has become under the Bush administration’s not-so-close watch—or at least that’s what Obama’s camp is pointing out in this ad on the financial debacle.
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broadcatching.wordpress.com
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Seems like everything is a crisis these days, what with the subprime mortgage crisis, the oil crisis and, perhaps most troubling of all, the climate change crisis. Former Federal Reserve Chairman Alan Greenspan acknowledged the complexity and interconnectedness of these unsettling trends Tuesday, stopping short of declaring that a major recession is on the way but without ruling out a recession of lesser magnitude.
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By Ellen Goodman — The government spread out a nice, soft net to catch the collapsing financial firm Bear Stearns. But if you’re a little guy who gets in trouble, expect to meet up with a somewhat harder surface.
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The short month of February was long on economic problems, as 63,000 U.S. jobs were lost over the 29 days. In other words, for those betting that a recession isn’t around the corner, the outlook is dim.
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Officials at the Federal Reserve are running out of creative ways to stave off a recession and expect the U.S. economy to slow to a crawl in 2008, with a growth rate of only 1.3 to 2 percent over the year.
Posted on Feb 20, 2008
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