Amid Economic Whiplash, a Bit of Glad News

Staff / Truthdig Mar 25, 2008 A sense of gloom still hangs over the economy, but there was cause for celebration Monday. Home sales are up for the first time in months, the dollar has regained some ground against the euro, and Wall Street had a triple-digit day. So why aren't investors smiling? Dig deeper ( 1 Min. Read )

New Crisis, Old Isms

David Sirota / Truthdig Mar 21, 2008 The Federal Reserve Bank's decision last week to address the housing crisis by extending $200 billion of taxpayer-financed credit to Wall Street banks was met with a stunned reaction typical of surprising events. But really, the move was the expression of longstanding isms that routinely package corruption as sound public policy. Dig deeper ( 3 Min. Read )

Too Big to Fail

Ellen Goodman / Truthdig Mar 20, 2008 The government spread out a nice, soft net to catch the collapsing financial firm Bear Stearns. But if you're a little guy who gets in trouble, expect to meet up with a somewhat harder surface. Dig deeper ( 3 Min. Read )

The Race to Captain a Sinking Ship

Eugene Robinson / Truthdig Mar 18, 2008 The Democratic presidential candidates squabble over real or imagined racial sensitivities, the Republican presidential candidate stages photo opportunities with the troops in Iraq, and meanwhile the financial system is coming apart at the seams. Dig deeper ( 3 Min. Read )

Greenspan: Dark Days Ahead for the Global Economy

Staff / Truthdig Mar 17, 2008 Those hoping for better news about the state of the U.S. economy -- not to mention the bigger picture -- aren't going to hear it from former Fed chair Alan Greenspan anytime soon, judging by his ominous forecast released Monday. Dig deeper ( 1 Min. Read )

Finance Giant Goes for Peanuts

Staff / Truthdig Mar 17, 2008 The mortgage crisis has claimed another corporate victim. Bear Stearns, one of the largest financial institutions in the world, has been bought for a piddling $236 million. The company was valued at $3.5 billion just a few days ago, and $20 billion a little more than a year ago. Dig deeper ( 1 Min. Read )

Recession? What Recession?

Staff / Truthdig Mar 8, 2008 President George W. Bush has often invited comparisons to Mad magazine antihero Alfred E. Neuman, and his latest comments regarding a potential recession in the U.S. aren't helping him shake the "What, me worry?" tag line anytime soon. Dig deeper ( 1 Min. Read )

Fed Forecasts Slow Growth in 2008

Staff / Truthdig Feb 21, 2008 Officials at the Federal Reserve are running out of creative ways to stave off a recession and expect the U.S. economy to slow to a crawl in 2008, with a growth rate of only 1.3 to 2 percent over the year. Dig deeper ( 1 Min. Read )

Down to the Fundamentals

Staff / Truthdig Feb 1, 2008 With mere days left before Super Tuesday and down to just two candidates, Thursday's Democratic debate in Los Angeles gave voters a crucial eleventh-hour look at Hillary Clinton and Barack Obama, who kept things friendly enough while staking out their differences on several key issues -- health care, the economy and, most importantly, the Iraq war. Dig deeper ( 2 Min. Read )

FBI to Investigate Mortgage Crisis

Staff / Truthdig Jan 30, 2008 The FBI has announced an investigation into the practices of more than a dozen companies related to the subprime mortgage crisis that has destabilized the American and global economies. The Securities and Exchange Commission has already launched investigations of its own, and though it's nice to see the authorities crack down on improper practices, it would be nice to have some oversight before there was a crisis. Dig deeper ( 1 Min. Read )

Bush Plans Economic Intervention

Staff / Truthdig Jan 18, 2008 What to do about the slumping U.S. economy? President Bush may disagree with congressional Democrats on dozens of issues, but he seems to agree with their call for some kind of temporary stimulus measure to be implemented as soon as possible. Bush's potential bailout plan will likely focus on income tax rebates to inspire Americans to go out and spend for their country. Dig deeper ( 1 Min. Read )

Dow Drops Over 300 Points

Staff / Truthdig Jan 18, 2008 Winter 2008 is shaping up to be a gloomy season for the American economy, with mounting concerns over subprime mortgage prices and a plunging stock market. Thursday was a particularly dreary day on Wall Street, with the Dow Jones industrial average down 307 points and the Standard & Poor's 500 falling almost 3 percent. Dig deeper ( 1 Min. Read )