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 . '/' . substr('9780307387899',-6,3) . '/' . '9780307387899' . '.jpg'; ?>)
By Cormac McCarthy
$17
$22
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visualpanic (CC BY 2.0)
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By Barbara Garson, TomDispatch —
If you had to date the Great Recession, you might say it started in September 2008 when Lehman Brothers vaporized over a weekend and a massive mortgage-based Ponzi scheme began to tumble. By 2008, however, the majority of American workers had already endured a 40-year decline in wages, security and hope—a Long Recession of their own.
Posted on Apr 10, 2013
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A look at the day’s political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on “60 Minutes.”
Posted on Jan 28, 2013
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Flickr / epicharmus
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By Robert Reich — TARP—the infamous Troubled Assets Relief Program that bailed out Wall Street in 2008—is over. The Treasury Department announced it will be completing the sale of the remaining shares it owns of the banks and of General Motors. But in reality it’s not over.
Posted on Jan 8, 2013
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Mitt Romney and his wife made at least $15 million (and as much as $115 million) from the very taxpayer-funded auto bailout of 2009 that he opposed, while donors to Republican candidates made more than $4 billion by holding the auto industry and tens of thousands of American jobs hostage.
Posted on Oct 18, 2012
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jm3 (CC BY-SA 2.0)
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After a year of fruitless protest outside the U.S. Embassy in Bogota, some former GM employees have sewn their mouths shut in a hunger strike against the company’s treatment of workers at its Colombian plant, pledging death if their grievances are not addressed.
Posted on Aug 16, 2012
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AP / Paul Sancya
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The United Auto Workers and GM announced late Friday that after more than seven weeks of negotiations the two had agreed on a four-year contract that included new jobs, improved profit-sharing and better health care benefits.
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By Dan Becker and James Gerstenzang —
In a largely hidden component of its attack on the federal budget, the House of Representatives has approved a key Republican campaign promise to big business: protecting it from what the new majority calls the handcuffs of environmental safeguards.
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Flickr / Teknorat
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The days appear to be numbered for General Motors’ brand of oversize musclemobiles that we know as Hummer. The Detroit automaker has failed to seal the deal with a Chinese buyer in time to save the SUV line, which is looking more and more like the relic of pre-recessionary excess (not to mention gas-guzzling impudence) that it is.
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Flickr / AYC107
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Hugo Chavez muffler-rattled against the likes of Toyota, Ford, General Motors and Fiat in a speech to the country Thursday, attacking those companies for not sharing technology with local industry and threatening to kick them out of business if they did not comply.
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Flickr/richardefreeman
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General Motors Chief Executive Fritz Henderson tooted his company’s horn plenty when he ushered in a new, post-bankruptcy era for the Detroit automaker—but he couldn’t promise that GM 2.0 would be able to pay back the billions of dollars his company got from taxpayers.
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truckend.com
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General Motors, recipient of the 2009 “Nation’s Most Resistant-to-Change Company That Still Gets Federal Assistance” award, wants more. The auto giant on Wednesday asked for $16.6 billion in loans, on top of the $13.4 billion already granted. All this amid GM plans to shed 47,000 jobs worldwide.
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nation.co.ke
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Without skipping a beat, once-troubled financial entities are continuing to spend big to lobby Congress as they pocket billions in TARP bailout money. The lobbying is defended by the bail-outted firms as a “transparent and effective way” to be heard on policy issues.
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lasplash.com
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Gas prices and fiscal concerns are causing the demise of the American-made sport utility vehicle, a welcome development in the eyes of many fellow drivers but one that also spells the end for thousands of American jobs.
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The New York Times / Doug Mills
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In an avowed effort to save capitalism from itself, President Bush announced Friday that he would throw the Big Three failing auto companies a $17.4 billion lifesaver, siphoning that money from the initial $700 billion bailout slush fund authorized by Congress in October.
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New York Times / Stephen Crowley
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Agreement has been reached between the White House and congressional Democrats to offer the U.S. auto industry a $14 billion emergency package aimed at keeping the Big Three going until spring. Also, in the grand tradition of state socialism, the deal includes a new auto “czar” to oversee the restructuring of Detroit.
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aolcdn.com
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With a bailout of the Big Three hovering over our political landscape, popular opinion has signaled a considerable voice against any federal support for the failing auto industry. A poll shows 61% of Americans oppose a bailout, believing any government assistance would be both unfair and ineffective in fixing the economy.
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cartype.com
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After a dismal November, Ford Motor Co. is hanging by a thread, but the automaker told Congress on Tuesday that it is in better shape than Chrysler and General Motors and could make it through its current economic crisis with a little help—to the tune of $9 billion in standby loans.
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Are workers to blame for the fix that General Motors (along with many other corporations) is in? A new book by Roger Lowenstein argues that they are. He couldn’t be more wrong.
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Truthdigger of the Week: Medea Benjamin
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