|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 . '/' . substr('9780871404244',-6,3) . '/' . '9780871404244' . '.jpg'; ?>)
By Max Boot
$35.00
By MacDonald Harris and Philip Pullman
$14.95
$18
|
|
|
|
marcelinopena.files.wordpress.com
|
Forget that business with the maid whose work papers expired. The real scandal with Timothy Geithner, Barack Obama’s choice to head the Treasury Department, is his history of lax regulation—at least where his friends at Citigroup were concerned. ProPublica did some digging and found that Geithner’s New York Fed “eased the reins as the company blew billions. ...”
|
flickr.com / Presidential Inaugural Committee
|
While Barack Obama banned corporations and big donors from funding his inauguration so as to not trammel the public celebration, the big event’s multimillion-dollar bill is instead being footed by Wall Street executives and other financial employees acting as fundraisers. Abracadabra—no more special interests.
|
AP photo / Rick Bowmer
|
By Bill Boyarsky — With unemployment soaring, the need grows daily for guaranteed health care. But that may not happen in the coming year because of the desperate need to revive the economy and put people to work.
|
foreclosurewearhouse.com
|
Starting on Nov. 26, mortgage finance mega-firms Fannie Mae and Freddie Mac will take a time out from foreclosures and evictions until Jan. 9—a welcome holiday break for struggling homeowners that hopefully will catch on among other corporate players in the mortgage market.
|
Flickr / Rain Rannu
|
Instead of buying lots of new cheap things, people are busy stuffing what’s left of their money in mattresses. That has China, where the goodies come from, worried. The Chinese government has decided a stimulus is in order, to the tune of 4 trillion yuan (more than $550 billion).
Posted on Nov 9, 2008
READ MORE 
|
nafcu.org
|
Joining in the unhappy trend of mass layoffs, American Express announced Thursday that 10 percent of the credit card company’s work force will soon be cut due to the current economic crisis.
Posted on Oct 30, 2008
READ MORE
|
spiegel.de
|
If you thought the United States’ $700-billion bailout would quell the global financial crisis, think again. The German parliament just approved a $675-billion bailout of Germany’s financial markets, a plan that is part of a coordinated European response to volatile global and regional markets.
|
guardian.co.uk / Barry Batchelor
|
Following the Dow’s 600-point drop, former President Jimmy Carter had some pointed words for the Bush administration on Friday, blaming the current economic crisis on the “atrocious” policies of the past eight years and declaring the economic situation to be an “entrenched problem” that will “take years to correct”.
|
AP photo / Manuel Balce Ceneta
|
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.
|
0-60mag.com
|
Sure, we’ve all heard the stories about Wall Street bigwigs lining their pockets with gold dubloons while the rest of us scramble to save pennies, but The New York Times has drawn out that contrast in graphic detail with a handy series of charts showing the total earnings (including bonuses) of 12 top executives from 2003-2007.
|
news.bbc.co.uk
|
European leaders decided against a joint bailout of the Continent’s financial system, but that hasn’t stopped individual governments from trying to save failing and financially shaky institutions. The German government, which has been highly critical of U.S. economic mismanagement, just backed a $68-billion deal to save one of its biggest banks.
|
The New York Times / Doug Mills
|
On Friday the House approved, after initially rejecting, the $700-billion bailout package for the financial industry in what is likely to be the most expensive government intervention in the nation’s history. This, of course, only slightly surpasses another notable “government intervention”—the nearly $600 billion spent in the war in Iraq.
|
bls.gov
|
A government report released Friday morning leaves little room for any defense of the failed policies of the Bush administration or any belief in the economic wisdom of John McCain, whose erroneous assertion that the “fundamentals of the economy are strong” failed to mention a 6.1 percent unemployment rate, up nearly two percentage points since 2007.
|
Newsday
|
Leaders from France, Italy, Great Britain and Germany are planning to meet on Saturday in preparation for a European finance summit to be held in Washington next week. French President Nicolas Sarkozy, who shot down reports on Thursday that France was proposing a hefty European bailout package, invited the other three heads of state to the pre-summit huddle in Paris.
|
|
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.
|
AP photo / Richard Drew
|
Finally, some slightly better financial news has hit the wires after months of sobering reports: Oil prices dropped to a three-month low on Tuesday, which may be due to “the softening market,” as one analyst puts it in this NYT account, but whatever the reason it still means a slight reprieve from weeks of punishing prices. Stock markets had their biggest gains in four months.
|
flickr.com
|
A government report released Friday signals worsening economic tides as the U.S. tries to navigate through its highest level of unemployment in four years. The seven-month-long trend of net job losses is likely to persist, with few signs of a turnaround on the horizon.
|
foreclosurewearhouse.com
|
Although certain Washington denizens from both sides of the aisle might have been thrown when the two government-backed mortgage finance companies, Fannie Mae and Freddie Mac, hit the skids last week, several of their current and former colleagues had long seen the crisis coming.
|
patdollard.com
|
Barack Obama is reaching out to Hillary Clinton’s pocketbook, asking his finance team to help pay off at least $10 million of the debt Clinton accrued during her primary bid. The move comes after an announcement that Camp Obama had raised $287 million by the end of May and declined public funding of his campaign.
|
|
The mortgage crisis has claimed another corporate victim. Bear Stearns, one of the largest financial institutions in the world, has been bought for a piddling $236 million. The company was valued at $3.5 billion just a few days ago, and $20 billion a little more than a year ago.
|
|
John Mackey, the CEO of Whole Foods, apparently behaved in not so wholesome a manner when he spent time bashing Wild Oats stocks on a Yahoo stock-market forum under the pseudonym “Rahodeb” not long before his company bid to take over the competing natural foods market chain. The Federal Trade Commission is attempting to block the takeover on antitrust grounds. (Via BoingBoing)
|
|
By Marie Cocco — The markers of a mushrooming student loan scandal are identical to so many of the rest: The Bush administration, determined to turn the federal government into a favor bank for its corporate cronies, ignored every indicator that the $85-billion-a-year student loan industry was rife with corruption.
|
|
As interest rates continue to spiral out of control for many high-risk borrowers, the number of home foreclosures around the country is steadily going up. There isn’t much good news for the opportunistic lenders either—more than 20 mortgage companies have already gone bankrupt.
|
|
By Marie Cocco — The McCain-Feingold campaign finance reform bill has proved about as effective a barrier as tissue paper in keeping special-interest money out of elections.
Posted on Oct 26, 2006
READ MORE 
|
|
This is a complicated issue. We’ll let the Washington Post take it: “The Supreme Court struck down Vermont’s strict limits on campaign contributions and spending yesterday, in a splintered ruling that left intact the constitutional basis of current campaign finance laws but may make it difficult to put new curbs on money in politics.”
Posted on Jun 26, 2006
READ MORE
|
View older articles:
< 1 2
View the most popular tags overall?
|
|
The Lotto Symbolizes the False Promises of Barracuda Capitalism
Newsletter 
Like Us
Follow Us
Get Our Feed
