Dems Tap Credit for Congressional Campaigns

Staff / Truthdig Oct 29, 2008 Not everyone is feeling the credit crunch: The DNC is borrowing $10 million to spend on Senate and House races. Encouraged by polls, the party wants to win as many seats as possible before the public stops hating on the GOP. Dig deeper ( 1 Min. Read )

Fed Chief Wants More Stimulation

Staff / Truthdig Oct 21, 2008 Ben Bernanke doesn't really care if you call it a recession or, in his words, "a very serious slowdown in the economy." Whatever it is, the chairman of the Federal Reserve thinks a new stimulus package is needed to get those terrified Americans dipping into their mattresses and buying things again. Dig deeper ( 1 Min. Read )

IMF Warns of Pending Global Downturn

Staff / Truthdig Oct 8, 2008 With all the negativity in the ether regarding the stability of the world economy, it's surprising that the International Monetary Fund took so long to throw its two cents into the fray. Never the fund to disappoint, the IMF issued a report Wednesday that warns of a pending global downturn following the U.S. credit crisis, as confidence falters in finance and credit markets around the world. Dig deeper ( 1 Min. Read )

And Now, Even More Bad Financial News

Staff / Truthdig Oct 8, 2008 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. Dig deeper ( 1 Min. Read )

Lehman Bros. Paid Execs Millions as Company Tanked

Staff / Truthdig Oct 6, 2008 On Monday, the House Oversight and Reform Committee took a look into the collapse of Lehman Brothers as part of a larger review of the factors leading to the current economic crisis, and it wasn't a pretty sight. Judging by the committee's account, leaders at Lehman Bros. disregarded key warnings of impending trouble and cut hefty checks for their fellow executives even as the firm teetered on the brink of disaster. Dig deeper ( 1 Min. Read )

Timeline: The Global Credit Crisis

Staff / Truthdig Oct 6, 2008 To help all those still reeling from sudden onset econo-tastrophe syndrome, the BBC has put together a handy timeline, which connects the dots between events over the last couple years but doesn't quite take the long view, thus leaving out a few key moments and players from, say, the 1990s (paging Phil Gramm). Dig deeper ( 1 Min. Read )

The Bailout: Take Two

Staff / Truthdig Oct 3, 2008 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. Dig deeper ( 1 Min. Read )

Economic Crisis Goes to California

Staff / Truthdig Oct 3, 2008 Tight credit has put California's state budget into a bit of a pickle, with funding for the government's day-to-day operations drying up faster than Sarah Palin's popularity. A sign of trouble is a letter -- leaked Friday -- from Gov. Arnold Schwarzenegger to U.S. Treasury Secretary Henry Paulson that warned of a potential emergency request for a $7-billion loan within the coming weeks. Dig deeper ( 1 Min. Read )

How Can These Fundamentals Be Called Strong?

Staff / Truthdig Oct 3, 2008 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. Dig deeper ( 1 Min. Read )

Paulson Bailout Plan Could Reach $1 Trillion

Staff / Truthdig Sep 19, 2008 If you thought the Iraq war was expensive, the Bush administration is also throwing an estimated $1-trillion bailout of major finance firms to prevent a meltdown of the U.S. economy. President Bush and Treasury Secretary Henry Paulson outlined such a "bold approach" Friday morning, yet detailed plans still remain forthcoming. Dig deeper ( 1 Min. Read )

Americans Prefer Swiping to Saving

Staff / Truthdig Feb 2, 2007 The annual savings rate dropped to the lowest level in 74 years, the Commerce Department has reported. On average, Americans saved a "negative 1 percent" in 2006, meaning people not only didn't save but dipped into their savings and borrowed in order to spend more than their income. Dig deeper ( 1 Min. Read )

Blog Trades Carbon Offsets for Links

Staff / Truthdig Jun 1, 2006 A progressive-minded blog called DeepMarket.com is teaming up with CarbonFund.org to offset one ton of carbon emissions for every blog that links to it. (h/t: Tree Hugger) Hey, blogosphere: Link up! It doesn't cost you anything. Dig deeper ( 1 Min. Read )