The Nobelists vs. Obama and Geithner

E.J. Dionne Jr. / Truthdig Apr 2, 2009 The president's plan to bail out the banks reveals a deference to the existing financial system that puts him at odds with Nobel Prize-winning economists Paul Krugman and Joseph Stiglitz. Dig deeper ( 3 Min. Read )

Obama’s Toxic Advisers

Robert Scheer / Truthdig Mar 25, 2009 Bernie Sanders, the senator from Vermont who is independent in spirit as well as party label, has placed a hold on President Obama’s nomination of Gary Gensler to head the Commodity Futures Trading Commission. Sounds like a minor issue to get worked up about, but I see this appointment as further evidence that the president has entrusted his economic policy to the wrong people. Dig deeper ( 3 Min. Read )

Getting Ready for Geithner

Mr. Fish / Truthdig Mar 23, 2009 Dig deeper

Taxpayers to Buy Bad Bank Assets

Staff / Truthdig Mar 23, 2009 What a deal! Timothy Geithner's new plan to save the banks from themselves commits American taxpayers to a massive purchase of the toxic assets that the banks had originally insisted were risk-free investments. Of course, Wall Street loved the news. Update Dig deeper ( 1 Min. Read )

Putting the ‘Toxic’ Back in Tarp

Staff / Truthdig Mar 23, 2009 The Toxic Asset Relief Program was originally designed to save the banks from their bad bets by purchasing toxic assets, but has since evolved into something of a multipurpose slush fund. Now the Obama administration is getting back to the business of buying junk, elaborating on a plan that sent the Dow tumbling when it was first announced. Update Dig deeper ( 1 Min. Read )

Eight Is Enough

Mike Luckovich / Truthdig Mar 11, 2009 Dig deeper

Bigger Bailout Expected for AIG

Staff / Truthdig Mar 2, 2009 The government is expected to come to AIG's rescue for a fourth time as the mega-insurer prepares to announce the biggest quarterly loss by a single company in the history of the world. Reports put the bonus bailout at $30 billion, less than half of AIG's expected quarterly loss. Dig deeper ( 1 Min. Read )

A Non-Rising Tide Lifts No Boats

Staff / Truthdig Feb 18, 2009 The rationale of the TARP bailout's "capital-injection program" -- providing banks with capital that will increase loans to consumers and businesses -- has apparently been forgotten by the 20 largest banks that received TARP money. A Treasury Department survey has found that lending in the last quarter of 2008 was stagnant, or even slightly declined, despite $250 billion in capital-injection funds. 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 )

$75 Billion to Fight Foreclosures

Staff / Truthdig Feb 18, 2009 While $700 billion was given to the banks and credit institutions that haphazardly pushed forward our current economic fiasco, millions of homeowners at risk of foreclosure may now be given only about one-tenth of that figure -- $75 billion -- in an effort to slow the deterioration of the housing market. Dig deeper ( 1 Min. Read )

Scream 2009

Mike Luckovich / Truthdig Feb 9, 2009 Dig deeper

Slapping the Pay Cuffs on Execs

Staff / Truthdig Feb 4, 2009 Amending current TARP rules and regulations, President Obama is expected to put a $500,000 cap on executive salaries at companies that receive large amounts of bailout funds. It would mean major pay cuts for the likes of Bank of America CEO Kenneth Lewis, who took home more than $20 million in 2007. Dig deeper ( 1 Min. Read )