Buffett Says ‘Muddled Messages’ Fuel Uncertainty

Staff / Truthdig Mar 10, 2009 The world's richest man -- until recently, anyway -- said the economy "has fallen off a cliff" and he blamed "muddled messages" for the public's uncertainty. Warren Buffett, in remarks broadcast Monday on CNBC, criticized Republicans and the political process, but his barb has at least grazed the man he helped elect president. Dig deeper ( 1 Min. Read )

Citigroup Does the Splits

Staff / Truthdig Jan 16, 2009 After receiving $45 billion from U.S. taxpayers just two months ago, Citibank's much-maligned parent Citigroup will be no longer, as the financial giant announced in Solomon-style manner Friday that it will split itself into two, dividing the company's traditional banking business -- becoming Citicorp -- and its riskier investment department -- Citi Holdings. Dig deeper ( 1 Min. Read )

Botox Withstands Effects of Age, Recession

Staff / Truthdig Dec 24, 2008 When the global economy takes a serious plunge (i.e., like right now), one would think that such frivolities as facial fillers and Botox would be the first to go from the regimens of even the most image-conscious among us. Dig deeper ( 1 Min. Read )

Artist-Elect Barack Obama

Staff / Truthdig Nov 20, 2008 It looks like a $2,075 investment in a sketch by then-no-name artist and Illinois Sen. Barack Obama could really have paid off. The doodle, drawn as part of a 2007 "National Doodle Day" charity event, is now said to be worth in the six figures. Dig deeper ( 1 Min. Read )

American Express Cutting 7,000 Jobs

Staff / Truthdig Oct 31, 2008 Joining in the unhappy trend of mass layoffs, American Express announced Thursday that 10 percent of the credit card company's work force will soon be cut due to the current economic crisis. 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 )

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 )

Bailout Deal (Almost) Done

Staff / Truthdig Sep 28, 2008 Early Sunday morning brought word that the end of the drawn-out bailout negotiations between warring factions of the federal government might finally be at hand, although the House and Senate had not yet officially approved terms of the proposed plan. Updated Dig deeper ( 1 Min. Read )

Fed Forecasts Economic Gloom

Staff / Truthdig Jul 9, 2008 Federal Reserve Chairman Ben Bernanke expects America's economic struggles to continue well into next year and has asked Congress to expand his regulatory powers. Lawmakers are unlikely to fulfill his request any time soon. Bernanke also suggested that the Fed could continue to bail out investment banks. Dig deeper ( 1 Min. Read )

GodTube Cashes In

Staff / Truthdig May 13, 2008 A European hedge fund just invested $30 million in a Christian-oriented video sharing site. The vast majority of Americans identify as Christian, and while the economy may be taking a nose dive, there's still money to be made on Jesus. Dig deeper ( 1 Min. Read )

Gore Puts Venture Money Where His Mouth Is

Staff / Truthdig Nov 13, 2007 Al Gore's Generation Investment Management has teamed up with venture capital heavyweight Kleiner Perkins Caufield & Byers to try to close the "significant gap between the capital needed and the capital currently deployed to create enduring solutions to the climate crisis." The alliance will have a global focus and will seek to multiply by "many times" the $200 million already invested by KPCB in green projects. Dig deeper ( 2 Min. Read )