Obama’s New Deal

Staff / Truthdig Oct 14, 2008 Barack Obama unveiled his $60-billion economic rescue plan on Monday and urged Washington not to wait for a new president to take up his proposals. The Obama plan includes tax breaks for companies that hire new workers, a short moratorium on foreclosures and, with an eye on job creation, federal financing for public works and infrastructure projects. Dig deeper ( 1 Min. Read )

2008 Presidential Debates, Round Two

Staff / Truthdig Oct 8, 2008 Tuesday night marked the second debate between John McCain and Barack Obama, moderated by NBC's Tom Brokaw at Belmont University in Nashville, Tenn. While Brokaw struggled to stick to the script, the two candidates fielded questions about the current economic catastrophe and American foreign policy. Dig deeper ( 1 Min. Read )

Lose Your Home, Lose Your Vote

Staff / Truthdig Sep 25, 2008 The tanking economy is screwing over citizens both as homeowners and voters. The past two years have seen more than 1 million people lose their homes through foreclosure, and November's election may see the same people also disqualified from voting due to election laws requiring official notification of voters' new addresses. Dig deeper ( 1 Min. Read )

A Fox to Protect the Henhouse?

Robert Scheer / Truthdig Sep 24, 2008 Does it really matter which party is in charge when it comes to bailing out the Wall Street hustlers whose shenanigans have bankrupted so many ordinary folks? Not if the Democrats roll over and cede power to the former head of Goldman Sachs, the investment bank at the center of our economic meltdown. Dig deeper ( 3 Min. Read )

Bailout Negotiations Inch Forward

Staff / Truthdig Sep 23, 2008 It seems that some key officials involved in the negotiations with the Bush administration over the terms of Treasury Secretary Henry Paulson's $700-billion bailout proposal for Wall Street aren't about to make a deal unless it includes specific plans for congressional oversight and help for homeowners on the brink of foreclosure. Dig deeper ( 1 Min. Read )

Tent Cities Springing Up

Staff / Truthdig Sep 19, 2008 One sign of the nation's shaky economy can be seen in the growing numbers of newly homeless people forming "tent cities" around the U.S. The rise of these encampments is being attributed partly to the foreclosure crisis in the housing market, and the newest economic developments aren't likely to ease the situation. Dig deeper ( 1 Min. Read )

Fannie and Freddie’s Double Whammy

Bill Boyarsky / Truthdig Sep 9, 2008 With a stunningly vicious pair of blows, the faltering world economy -- the Godzilla of this year's presidential race -- has made the candidates look small. Why hasn't this looming crisis been part of the presidential debate? Dig deeper ( 4 Min. Read )

McCain’s Mansions

Staff / Truthdig Aug 20, 2008 Courtesy of the Brave New Films team, here we have a property-by-property breakdown of John McCain's many fancy domiciles, which provide ironic contrast to footage of the presumptive Republican nominee holding forth about how Americans with mortgage troubles can just scrimp 'n' save their way back to solvency. Dig deeper ( 1 Min. Read )

Bailout Time for Fannie and Freddie

Staff / Truthdig Jul 29, 2008 Congress to the rescue! Mortgage lending giants Fannie Mae and Freddie Mac are being propped up in their time of dire need, thanks to a bill passed Saturday that will lift the world's two largest financial institutions out of immediate danger and help some homeowners handle mortgage crises. Dig deeper ( 1 Min. Read )

Super Mega Housing Bill on Bush’s Desk

Staff / Truthdig Jul 24, 2008 There's a lot the president doesn't like about the new housing bill, just passed by the House, but he'll hold his nose and sign it. The package includes huge guarantees for Freddie Mac and Fannie Mae -- the national debt ceiling had to be lifted by about $800 billion, just in case -- but also rescue for hundreds of thousands of homeowners at risk of foreclosure. Dig deeper ( 1 Min. Read )

Foreclosure Karma

Mike Luckovich / Truthdig Jul 16, 2008 Dig deeper

Housing Signs Point to More Market Woes

Staff / Truthdig Jun 6, 2008 The housing market is continuing its descent into Slumpsville, judging by the way things have gone over the first quarter of 2008, and indicators don't look good for the immediate future, either. American homeowners have been forced into foreclosure in record numbers this year and late payments have soared to a new high. Dig deeper ( 1 Min. Read )