Thousands Join Obamas for Day of Service

Staff / Truthdig Jan 20, 2009 It looks like Barack Obama's national community service day was a big hit. Reports of thousands of volunteers are appearing in newspaper pages from New York to Philadelphia to San Francisco. Did you participate in your own community? Let us know in the comments. Dig deeper ( 1 Min. Read )

Congress Sings the Bailout Blues

Staff / Truthdig Jan 19, 2009 Want to know where the $350 billion banking bailout went and why it hasn't done a bit of good? Read, and weep over, this little-noticed report from the congressional panel set up to monitor the Treasury Department's distribution of our taxpayer funds. Dig deeper ( 6 Min. Read )

Nationwide Foreclosure Rate Shoots Up 81% in 2008

Staff / Truthdig Jan 16, 2009 We knew this news was bound to be bad, but we didn't think it would be quite this grim: The number of American homeowners who faced foreclosure proceedings in 2008 passed the 2.3 million mark, an 81 percent increase over the previous year. Dig deeper ( 1 Min. Read )

Obama Says He’ll Spend Some Bailout Money on Homeowners

Staff / Truthdig Jan 13, 2009 With half of the $700 billion in TARP funds already spent and not a whole lot to show for it, Barack Obama has pledged to spend the second parcel differently, with at least some of the money going to desperate homeowners. President Bush has agreed to request the funds on Obama's behalf in order to expedite the process. Dig deeper ( 1 Min. Read )

We Told You So

David Sirota / Truthdig Dec 12, 2008 With the release of three new reports, there’s no debate anymore about who was correct and who wasn’t concerning the economic collapse and the Wall Street bailout. The studies prove that progressive critics were right and the Washington ideologues and the pundits were wrong. Dig deeper ( 3 Min. Read )

Fed Faces Mortgage Challenge

Staff / Truthdig Nov 26, 2008 The mortgage market got a lift following Tuesday's announcement that the Federal Reserve was throwing in with a $600 billion resuscitation bid, but as Fortune's Colin Barr points out, history offers at least two examples that the road ahead could be rocky. Dig deeper ( 2 Min. Read )

Fannie, Freddie to Give Foreclosures a Holiday

Staff / Truthdig Nov 21, 2008 Starting on Nov. 26, mortgage finance mega-firms Fannie Mae and Freddie Mac will take a time out from foreclosures and evictions until Jan. 9 -- a welcome holiday break for struggling homeowners that hopefully will catch on among other corporate players in the mortgage market. Dig deeper ( 1 Min. Read )

Paulson and Bernanke Grilled on the Bailout

Staff / Truthdig Nov 19, 2008 On Tuesday, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke faced a lineup of vexed, perplexed and otherwise agitated members of Congress, including Reps. Barney Frank, Ron Paul and Nydia Velazquez, all eager to ask some serious questions about the infamous bailout. Dig deeper ( 1 Min. Read )

A Wal-Mart Christmas for a Wal-Mart Country

Marie Cocco / Truthdig Nov 18, 2008 The giant discounter is the only store where hard-squeezed consumers can afford to buy anything, and so it has kept posting sales gains amid the retail bloodbath. Dig deeper ( 3 Min. Read )

Who’s Afraid of ACORN?

Staff / Truthdig Oct 21, 2008 Who knew that "community organizing" and "ACORN" would become two of the most mischaracterized and maligned terms during this election season? Well, as a few key members point out in this must-see clip from Brave New Films, ACORN had some idea this might be coming. Dig deeper ( 1 Min. Read )

Former Fed Chief: U.S. Already in a Recession

Staff / Truthdig Oct 15, 2008 Former Federal Reserve Chairman Paul Volcker said Tuesday that the US was already in a recession, despite the efforts of the U government and other nations' leaders to intervene "I have seen a lot of crises but I have never seen anything quite like this one," said Volcker, who headed up the Fed for eight years before Alan Greenspan took over in 1987. Dig deeper ( 1 Min. Read )

McCain Announces Economic Plan

Staff / Truthdig Oct 14, 2008 John McCain has laid out his plan for how he would help Americans recover from the recent shocks to the domestic and international markets. He took the action on Tuesday, a day later than he initially said he would and a day after Democratic presidential rival Barack Obama released his own economic plan -- and McCain's timing was not lost on the Obama campaign. Dig deeper ( 1 Min. Read )