U.S. Household Wealth Falls by $1.5 Trillion

Staff / Truthdig Sep 18, 2010 This just in: US households are getting poorer As the crisis continues to wreak havoc on our economy, new data from the Federal Reserve tells us that U net household worth has dropped $15 trillion in the second quarter of 2010 and is down more than $10 trillion since the recession began. Dig deeper ( 1 Min. Read )

Spain’s ‘Desempleo’ Rate at 20%

Staff / Truthdig May 1, 2010 With all the focus on job losses here at home, we sometimes forget how the economic crisis -- which originated in the U.S. -- has affected other countries. Official figures in Spain, for example, show that that country's unemployment rate has hit 20 percent, highest in the eurozone. Dig deeper ( 1 Min. Read )

SEC’s Dirty Little Secret

Staff / Truthdig Apr 23, 2010 One wonders if there is a smutty equivalent to Nero's fiddling while Rome burns. If there is, it might be applicable to the senior staffers at the SEC who spent hours watching pornography on government computers instead of policing the nation's financial system. Dig deeper ( 1 Min. Read )

Greek Financial Crisis Hits Poor

Staff / Truthdig Apr 3, 2010 The origins of Greece's economic crisis lie with the recklessness of the rich, but the consequences are directly affecting the poor: A new poll shows that three-quarters of the Greek population believe that the current plans to cut the country's budget deficit are "socially unfair." Dig deeper ( 1 Min. Read )

Crisis and Climate Could Affect HIV/AIDS Rate

Staff / Truthdig Mar 28, 2010 The global economic crisis and climate change can obviously wreck economies and ruin the planet, but both could also help spread HIV/AIDS, experts say, as inequality increases vulnerability and, left unchecked, could lead to a "universal nightmare." Dig deeper ( 1 Min. Read )

AIG: From Riches to Rags

Staff / Truthdig Jun 3, 2009 It looks like the $150 billion bailout of AIG included everything but advertising funds. After four years of the insurance giant's logo gracing the jerseys of one of the world's most famous soccer teams, troubled economic times are bumping the iconic symbol in favor of a new sponsor. Dig deeper ( 1 Min. Read )

No California Love for Schwarzenegger

Staff / Truthdig May 21, 2009 Californians gave the electoral finger to Gov. Arnold Schwarzenegger on Tuesday when they voted against five ballot measures intended to fix the Golden State’s budget drama by increasing taxes, redistributing state funds and borrowing money. On top of already double-digit unemployment, a plummeting housing market and an eroding educational system, the state now faces a budget gap of more than $21 billion. Dig deeper ( 1 Min. Read )

Freddie Mac’s Acting CFO Found Dead

Staff / Truthdig Apr 22, 2009 The acting chief financial officer for housing lender Freddie Mac, David Kellermann, was found dead Wednesday morning in what appeared to be a suicide. If the death is ruled a suicide, Kellermann will be the seventh high-profile financial services executive to have taken his own life under stress from the current economic crisis. Dig deeper ( 1 Min. Read )

Reid Announces Stimulus Agreement

Staff / Truthdig Feb 12, 2009 Senate Majority Leader Harry Reid announced Wednesday afternoon that congressional leaders have finally agreed on a $789 billion economic stimulus package, pushing the plan to a final House and Senate vote by Friday at the earliest. Dig deeper ( 1 Min. Read )

Who Pays $273,000 for Household Help?

Staff / Truthdig Oct 10, 2008 John McCain does. This hilarious YouTube clip, from a documentary filmmaker, gets at the heart of the disparity between the realities of working folk and the politicians who claim they are "friends" with the American people.(Alert: salty language.) 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 )