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By Steven Hill
$16.47
By David Armstrong and Joseph J. Trento
$16.47
$23
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AP photo / Charles Dharapak
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By Robert Scheer — Not surprisingly, Lawrence Summers is convinced that he deserved every penny of the $8 million that Wall Street firms paid him last year. And why shouldn’t he be cut in on the loot from the loopholes in the toxic derivatives market that he pushed into law when he was Bill Clinton’s treasury secretary?
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Getting a grip on the economic catastrophe that rocked the country during the fall of 2008 is no easy feat, what with so many players, back-room deals, bills, upswings and meltdowns to consider. Updated
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AP photo / Mary Altaffer
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By Titus Levi — Wall Street has yet to recover after the economic shocks of recent weeks. Why? Two problems. One we already know: The “plan,” even with revisions, is deeply flawed. The second problem has not been mentioned all that much because it’s pretty scary: Put simply, we have no idea what we’re doing.
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AP photo / Pablo Martinez Monsivais
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President Bush had been laying low over recent days, but it seems his inner circle considered it prudent to trot him out for a brief appearance at the White House. He surfaced on Thursday to speak vaguely about the snowballing economic crisis on Wall Street before disappearing once again.
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listphile.com
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Here we go again: The Federal Reserve is bailing out another tanking financial institution—the insurance behemoth American International Group—by sinking $85 billion into AIG in return for a stake in the company. Meanwhile, House Speaker Nancy Pelosi has called for a Wall Street investigation following this latest startling agreement between big government and big business.
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AP photo / LM Otero
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By Bill Boyarsky — While it’s fashionable for the media and some of his own supporters to be mourning the demise of Barack Obama’s presidential campaign, they may well be overlooking an important point—that the vaunted McCain-Palin ticket has peaked. What else but such blind optimism could be motivating the unflagging energy of thousands of Obama grass-roots workers?
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