Bailout Time for Fannie and Freddie

Staff / Truthdig Jul 29, 2008 Congress to the rescue! Mortgage lending giants Fannie Mae and Freddie Mac are being propped up in their time of dire need, thanks to a bill passed Saturday that will lift the world's two largest financial institutions out of immediate danger and help some homeowners handle mortgage crises. Dig deeper ( 1 Min. Read )

Bush Angling to Help Fannie and Freddie

Staff / Truthdig Jul 15, 2008 President Bush is still insisting that the U.S. economy is in generally good shape, even as he asks Congress to support legislation to help Fannie Mae and Freddie Mac, while insisting in the same breath that he's not proposing a "bailout" for the ailing mortgage companies. Hmmm. Dig deeper ( 1 Min. Read )

‘Mental Recession’ Is ‘Straight Talk’?

Staff / Truthdig Jul 13, 2008 Next thing you know, they're going to say unicorns are real, too. On an episode of Fox News' "Special Report" late this week, Weekly Standard Editor Fred Barnes chimed in about McCain adviser Phil Gramm's assessment that America was on the verge of a "mental recession," calling Gramm's statement "straight talk." Dig deeper ( 1 Min. Read )

McCain Adviser: Recession All in Our Minds

Staff / Truthdig Jul 11, 2008 According to Phil Gramm, the former senator from Texas who's now a key economic adviser to Sen. John McCain, America's economic woes, insofar as they actually exist, are the product of some stinking thinking by "a nation of whiners" and doom-and-gloom headlines from the U.S. media. Dig deeper ( 2 Min. Read )

Is Clinton the Ticket for Obama?

Robert Scheer / Truthdig Jun 18, 2008 Why not Hillary? Not my first choice -- Al Gore is -- but I find all of the pro-and-con debate about Hillary Rodham Clinton to be beside the point. She is, as Barack Obama said, likable enough, and the Dems are not likely to pick anyone better. Dig deeper ( 3 Min. Read )

Housing Signs Point to More Market Woes

Staff / Truthdig Jun 6, 2008 The housing market is continuing its descent into Slumpsville, judging by the way things have gone over the first quarter of 2008, and indicators don't look good for the immediate future, either. American homeowners have been forced into foreclosure in record numbers this year and late payments have soared to a new high. Dig deeper ( 1 Min. Read )

The Decriminalization of Corporate Crime

Stanley Kutler / Truthdig Mar 29, 2008 With our economic and financial crises deepening, government insiders reportedly are debating whether we need to restore some regulation -- or not. Given the state of things, we can expect further woes and no regulation. Dig deeper ( 4 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 )

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 )

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 )

Fed Steps Into Mortgage Mess

Staff / Truthdig Dec 19, 2007 The term "subprime mortgage" has certainly been in heavy rotation in recent months, and economic panic has spread as a result of lenders playing fast and loose with their home-lending criteria, causing chaos in the mortgage market. Enter the Federal Reserve to try to undo some of the damage and prevent a recurrence. Dig deeper ( 1 Min. Read )