Crime of the Century

Robert Scheer / Truthdig Jul 6, 2012 Forget Bernie Madoff and Enron’s Ken Lay -- they were mere amateurs in financial crime.Forget Bernie Madoff and Enron’s Ken Lay—they were mere amateurs in financial crime. Dig deeper ( 3 Min. Read )

Halfway Through the Lost Decade

Robert Scheer / Truthdig Apr 26, 2012 Does anyone care that the economy is floundering and that we are not getting out of this crisis anytime soon? Dig deeper ( 3 Min. Read )

The Student Loan Shuffle

By Marian Wang, ProPublica Apr 24, 2012 Since last fall, one million borrowers have had their federal student loans randomly assigned to new loan-servicing companies, all nonprofits or subsidiaries of nonprofit organizations, thanks to a little-known provision in the 2010 healthcare overhaul. Dig deeper ( 4 Min. Read )

Fed to Keep a Lid on Rates Through 2014

Staff / Truthdig Jan 25, 2012 The Federal Reserve lent weight to economists’ warnings of a long and slow recovery on Wednesday when it announced plans to keep short-term interest rates near zero for at least the next three years. The idea is that low rates will encourage borrowing and investment in American businesses, helping resurrect the economy. Dig deeper ( 1 Min. Read )

Fed to Raise Interest Rate

Staff / Truthdig Feb 19, 2010 The Federal Reserve announced Thursday it would increase the interest rate for temporary bank loans. The New York Times reports that many on Wall Street see this as signaling an end to big bank profits. But some economists say the move was purely technical, with no real effect on how much money is made. Dig deeper ( 2 Min. Read )

White House Pushes for Bernanke

Staff / Truthdig Jan 24, 2010 With unemployment running at 10 percent and Wall Street bankers again pocketing big bonuses, many see Federal Reserve Chairman Ben Bernanke's priorities as skewed. But absent from those critics is the White House, which believes Bernanke will be reconfirmed for a second term next week. Dig deeper ( 1 Min. Read )

Unemployment Woes Persist

Staff / Truthdig Jan 8, 2010 After a smidgen of good economic news in November, the U.S. economy unexpectedly shed 85,000 more jobs in December, continuing a nearly two-year trend and keeping the unemployment rate at 10 percent. Dig deeper ( 1 Min. Read )

‘Colbert Report’: Fed’s Dead

Staff / Truthdig Dec 10, 2009 Do Americans really need to know how sausage gets made over at the Federal Reserve? As Stephen Colbert points out, there may be a little pig rectum in the mix, but as long as the Fed's minions are allowed to perform their secret rituals, which may or may not involve ritual chicken slaughter, we all profit in the end, no? Dig deeper ( 1 Min. Read )

Frank Hails ‘Major Breakthrough’ in Financial Regulation

Staff / Truthdig Oct 23, 2009 On Thursday, the House Financial Services Committee voted in favor of a bill aimed at creating the U.S. Consumer Financial Protection Agency, a watchdog organization designed in response to President Barack Obama's call for greater oversight and regulation of banks and other financial companies in light of the past year's economic implosion. Dig deeper ( 2 Min. Read )

Obama Pushes Consumer Watchdog Agency

Staff / Truthdig Oct 10, 2009 President Barack Obama went on the offense Friday to reassert the need for a new consumer watchdog agency, the Consumer Financial Protection Agency, to keep tabs on financial institutions and to keep consumers from getting caught up in more mortgage disasters and high-interest credit card schemes. Dig deeper ( 1 Min. Read )

Economic Decline May Have Slowed

Staff / Truthdig Jul 21, 2009 Fed Chairman Ben Bernanke presented a report Tuesday about the U.S. economy's health. On the "bright side," the economy appears to be declining at a slower rate than before, but home prices are still falling, credit is still very tight and, oh yeah, job losses are still rising. As a result of all the good news, the Fed intends to maintain "exceptionally low" interest rates for a while longer. Dig deeper ( 1 Min. Read )

Obamanomics = Rubinomics?

Staff / Truthdig Nov 25, 2008 Judging by the new additions to Barack Obama's economic squad, the president-elect appears to be borrowing heavily from Robert Rubin's ranks, but here's an argument as to why Obama's approach will differ from Rubin's (but consider the source here). Dig deeper ( 1 Min. Read )