IMF to Scrutinize the Rich

Staff / Truthdig Oct 10, 2010 While the International Monetary Fund has historically been an organization used by wealthy countries to assert economic dominance over the rest of the world, developing nations won a small battle Saturday as the IMF moved to increase scrutiny over its rich members, including the United States. Dig deeper ( 1 Min. Read )

Here They Come to Save Das Day

Staff / Truthdig May 21, 2010 The German Parliament has approved a series of measures allowing the country to provide up to $184 billion in loan guarantees in a package aimed at stabilizing the euro and helping support those European nations that are mired in debt. Dig deeper ( 2 Min. Read )

Senate Gives the Go-Ahead for Fed Lending Probe

Staff / Truthdig May 12, 2010 When big financial institutions got themselves into a serious pickle in the fall of 2008, the Federal Reserve was there with beaucoup bucks in loans to prop them up. On Tuesday, the Senate voted unanimously to launch an inquiry into the Fed's lending practices during the financial crisis. Dig deeper ( 1 Min. Read )

Poll Indicates Americans Are Ready for Financial Overhaul

Staff / Truthdig Apr 27, 2010 President Obama and his allies won't have an easy time as they attempt to do some major renovations of our financial system, but according to a new Washington Post-ABC News poll, they at least have the support of the majority of Americans. Dig deeper ( 1 Min. Read )

Borrowing While Poor

Moshe Adler / Truthdig Apr 21, 2010 Why should a poor borrower be held more responsible than a rich borrower for the default of another poor borrower? Dig deeper ( 3 Min. Read )

Global Recession Scars the Rich Nations

Staff / Truthdig Mar 21, 2010 According to the International Monetary Fund, the global economic crisis has not only screwed over the poor but has left "deep scars" on the developed world. The level of debt owed to richer countries is the highest since World War II, the IMF says. Dig deeper ( 2 Min. Read )

FDIC Helping Banks Turn Profit

Staff / Truthdig Feb 28, 2010 Want to see how the FDIC works with banks to help them turn a nifty profit on short sales and foreclosures? Check out this video from the folks at Think Big, Work Small in which they detail how it happens. 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 )

U.S. Going Nuclear

Staff / Truthdig Feb 16, 2010 Nuclear power was a big issue back during the 2008 primaries. Then-candidate Barack Obama always said he favored nuclear power, and now he's about to put our money where his mouth was. The president is expected to announce $8.3 billion in loan guarantees, with more on the way, to build two new reactors -- the first in decades. Dig deeper ( 1 Min. Read )

Homeowners Say Banks Not Following Rules for Loan Modifications

Staff / Truthdig Jan 15, 2010 The administration set a goal of helping up to 4 million homeowners through the $75 billion mortgage modification program, but banks appear to have created unnecessary hurdles that, in some instances, violate the loan program’s rules.The $75 billion mortgage modification program is supposed to be a win-win, but some banks appear to be skirting the rules. Dig deeper ( 8 Min. Read )

Obama to Banks: It’s Payback Time

Staff / Truthdig Dec 15, 2009 On Monday at the White House, President Barack Obama reminded a group of big banking honchos (or "fat cats," as he called them Sunday) about last year's bailout and advised them to get busy helping the taxpayers who helped with their recovery. Well, good luck with that one. Dig deeper ( 1 Min. Read )

More Aid, Please

Staff / Truthdig Feb 18, 2009 General Motors, recipient of the 2009 "Nation's Most Resistant-to-Change Company That Still Gets Federal Assistance" award, wants more. The auto giant on Wednesday asked for $16.6 billion in loans, on top of the $13.4 billion already granted. All this amid GM plans to shed 47,000 jobs worldwide. Dig deeper ( 1 Min. Read )