iOS app Android app

Bailout Outrage

Critics say new federal mortgage plan not enough

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — Once again, the government has offered another plan to help troubled homeowners. Once again, critics say it doesn't go far enough. ...

Steve Forbes: Paulson "Worst Treasury Secretary" In Modern Times

CNN | Posted 05.25.2011 | Business

Forbes magazine President and CEO Steve Forbes called Treasury Secretary Henry Paulson "the worst treasury secretary we've had in modern times", citin...

Paulson Policy Failures

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

The Treasury's policy did nothing to build confidence or stabilize the markets. The precipitous drop of the equity markets in October and November are the market's judgment on their policies.

Unions Aren't To Blame For Automakers' Woes

Mike Papantonio | Posted 05.25.2011 | Business
Mike Papantonio

If the centralized, organized mouthpiece for labor is destroyed, then so is the only advocacy vehicle available to the nonunion worker.

Excessive Avarice Tax

Joe Peyronnin | Posted 05.25.2011 | Business
Joe Peyronnin

It is going to take more than a $750 billion TARP for the newly established "Office of Financial Stability" to right the ship.

Weekly Audit: It's a Recession, Stupid (and what that means) Economy NewsLadder

The Media Consortium | Posted 05.25.2011 | Business
The Media Consortium

We are clearly out of options that match up with Friedman's monetarism, indicating that public policy has nowhere left to turn except direct government spending on economic support.

GOP Blames Unions for Detroit's Ills

Mike Papantonio | Posted 05.25.2011 | Business
Mike Papantonio

The failures of the "Big 3" had nothing to do with union workers, as the GOP has been saying. It had to do with the fact that these industries didn't adapt to the times

How Big is This Bailout?

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

It's not the government's job to make stocks go up. It's their job to ensure stability and confidence to counter the fear and panic now so prevalent all over the world. Markets will find their own equilibrium when that happens.

Save the Jeep; Save the Nation

Leo W. Gerard | Posted 05.25.2011 | Business
Leo W. Gerard

Congress cannot let the Jeep die in bankruptcy. Congress must not fail the U.S. auto industry. Doing so would be abandoning the core of the American economy -- manufacturing.

We're in a "Repression": The Economics of Shame

James Rotondi | Posted 05.25.2011 | Business
James Rotondi

Perhaps we're better off thinking of our current state of economic ennui not as a recession or a depression, but as a "repression."

Fannie Mae, Freddie Mac Hearing: Testimony, Video

Huffington Post | Posted 05.25.2011 | Business

UPDATE 12/09 at 3:21PM: HuffPost's Marcus Baram reports: Former Fannie Mae CEO Franklin Raines blamed regulators and lawmakers for encouraging the m...

Report: Fannie, Freddie Execs Were Warned Of Loan Problems Years Ago

Washington Post | Zachary A. Goldfarb | Posted 05.25.2011 | Business

Internal Freddie Mac documents show that senior executives at the company were warned years ago that they were offering mortgages that could pose dang...

Fannie, Freddie Hearings: Looking For A Scapegoat

New York Post | Posted 05.25.2011 | Business

As finger-pointing escalated in Washington in the search for blame for the housing crisis, at least one ousted mortgage official in the cross hairs sa...

No Time for Ideological Based Economic Solutions

Byron Williams | Posted 05.25.2011 | Business
Byron Williams

Congress is using every economic tourniquet to stop the bleeding within the nations financial and automobile industries without fully knowing what other industries may be suffering from internal hemorrhaging.

Freddie Mac To Ask For Billions More In Bailout Funds

AP | Posted 05.25.2011 | Business

McLEAN, Va. — Mortgage finance company Freddie Mac said Friday it will need an additional $30 billion to $35 billion in government aid as it cop...

Fannie Mae Wants $16 Billion More In Emergency Funds | Posted 05.25.2011 | Business

Fannie Mae, the largest source of home-loan money in the U.S., said it will need to tap as much as $16 billion in emergency funds from the U.S. Treasu...

"Bankers Behaving Badly": A Needed Remedy for a Financial Industry Gone Off The Rails

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

A company's public conduct and public image, like that of Citi and Lehman, should be a determinant of which companies get taxpayer monies. The days of Wall Street rules are at an end.

Citibank Will Boost Lending By $36.5 Billion

AP | MADLEN READ | Posted 05.25.2011 | Business

NEW YORK — Citigroup, under pressure to increase its lending, says it will spend $36.5 billion to issue mortgages, make credit card loans and bu...

Change FICO Credit Scoring to Stimulate Economy and Address Housing and Banking Crisis

Ronald B. Robinson | Posted 05.25.2011 | Business
Ronald B. Robinson

Republicans are proposing a 4% home mortgage Ponzi scheme that's the modern day version of "40 acres and a mule." It's every bit the false promise that dashed the hopes of ex-slaves after the Civil War.

A Plan for Economic Recovery

George Soros | Posted 05.25.2011 | Business
George Soros

We are facing the prospect of global deflation and depression. But I believe the situation could be turned around by adopting a bold and comprehensive program. Unfortunately, Treasury Secretary Geithner has not presented a convincing case.

Welcome to our ENRON-omy and the Year of the Probe

Robyn O'Brien | Posted 05.25.2011 | Business
Robyn O'Brien

While we read about Blagojevich's hairbrush and the $1,400 trashcan purchased by Merrill Lynch's CEO, the Dow saw "its worst performance ever" posting its worst January in its 113 year history.

Bankers vow to build trust with increased lending

AP | JIM KUHNHENN | Posted 05.25.2011 | Business

WASHINGTON — The nation's top bankers came to account for themselves Wednesday to a wary public, displaying a blend of financial might and humil...

Banks Racing To Pay Back Bailout Funds After Congressional Lashing

Bloomberg | Linda Shen and Bradley Keoun | Posted 05.25.2011 | Business

Feb. 12 (Bloomberg) -- Bank of America Corp., JPMorgan Chase & Co. and Morgan Stanley may decide after enduring yesterday's Congressional hearing tha...

Newsweek: Geithner Needs To Put Failing Banks Out Of Their Misery

Newsweek | Michael Hirsh | Posted 05.25.2011 | Business

It was a classic populist spectacle, reminiscent of William Jennings Bryan's "Cross of Gold" speech or Huey Long's mid-Depression campaign to "Share t...