iOS app Android app

Economic Bailout

Time for Economic Polluters to Pay Up? Tobin or not Tobin...

Sony Kapoor | Posted 05.25.2011 | Business
Sony Kapoor

The financial crisis, the biggest in living memory, has tilted the political and financial landscape in a direction that makes Tobin Taxes not just more desirable but also much easier to implement.

Coherent Government Bailout Plan Still Doesn't Exist, Says Bailout Monitor

NY Times | DIANA B. HENRIQUES | Posted 05.25.2011 | Politics

The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strate...

Paul Krugman: Why We Didn't See The Economic Crisis Coming

NY Times | PAUL KRUGMAN | Posted 05.25.2011 | Business

A few months ago I found myself at a meeting of economists and finance officials, discussing -- what else? -- the crisis. There was a lot of soul-sear...

In Thanksgiving for our (Very Big) Government

Elizabeth Rigby | Posted 05.25.2011 | Politics
Elizabeth Rigby

In light of the tremendous challenges facing our country, I am grateful for a government big enough to help us weather the financial storm.

Economic Bailout Roundup: The Many Numbers Being Thrown Around

AP/HuffPost | Posted 05.25.2011 | Business

The Treasury and Fed added to the ever-growing confusion over various bailout plans by announcing two new multi-billion dollar efforts today. At the s...

Fed Will Buy Mortgage-Related Assets

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The Federal Reserve said Tuesday it will buy up to $600 billion in mortgage-backed assets in another attempt to deal with the finan...

Lehman Brothers' Presidential Connections

CNN Postcards | Patricia Sellers | Posted 05.25.2011 | Business

Now that the government has agreed to rescue Citigroup (C), investors are pondering again a question that never seems to die: Wasn't it a mistake to l...

Obama's Economic Team: The Roster (Photos)

HuffPost | Posted 05.25.2011 | Business

President-elect Barack Obama's economic team was formally unveiled today: Tim Geithner, president of the New York Federal reserve, is Obama's pick for...

Citi, AIG Won't Drop Big Sports Sponsorships

ABC News | Posted 05.25.2011 | Business

AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in sports team...

The Two Trillion Dollar Bailout You Don't Know About

Ben Cohen | Posted 05.25.2011 | Politics
Ben Cohen

If you thought the $700 billion bailout was bad, think again. The Federal Reserve is apparently handing out two trillion dollars in loans and it won't disclose where the money is going to.

Big Three Lobby Capitol Hill Again Today Amidst Fleeting Chances For Auto Bailout

AP | KEN THOMAS | Posted 05.25.2011 | Business

WASHINGTON — Top Senate Democrats suggested Wednesday that a bill to rescue Detroit's Big Three automakers was stalled and challenged the Bush a...

How Bankruptcy Would Benefit GM

US News And World Report | Posted 05.25.2011 | Business

Is the Midwest about to tumble into Lake Erie? Sure sounds that way. With General Motors teetering at the edge of insolvency, the company's backers a...

White House To Leave Obama With $350 Billion From Bailout, Sources Say

AP | DAVID ESPO | Posted 05.25.2011 | Politics

WASHINGTON — The outgoing Bush administration has told top lawmakers it does not plan to use at least half of the $700 billion bailout fund that...

Democrats Scale Back Stimulus Plan

Washington Post | Paul Kane | Posted 05.25.2011 | Business

Congressional Democrats yesterday abandoned plans to offer a wide-ranging economic stimulus plan next week, putting off any chance that the federal go...

Stocks stage huge rebound; Dow jumps 553 points

AP | MADLEN READ and JOE BEL BRUNO | Posted 05.25.2011 | Business

NEW YORK — Investors did an abrupt turnaround on Wall Street Thursday, muscling the Dow Jones industrial average up more than 550 points after d...

Suicides Accompany Downturn Around The World

NY Times | LANDON THOMAS Jr. | Posted 05.25.2011 | Business

Walter Buczynski was a top executive at a Maryland mortgage lender before he killed his wife and jumped off a bridge last January. Karthik Rajaram, 4...

The Economic Bailout Is Not Enough: The Case for Obama, Education, and the Longer View

Martin Carnoy | Posted 05.25.2011 | Politics
Martin Carnoy

Obama gave twelve major education speeches in this campaign and McCain only two. McCain hasn't introduced a major education initiative in his 26 years in Congress.

Real Change Depends on Stopping the Bailout Profiteers

Naomi Klein | Posted 05.25.2011 | Politics
Naomi Klein

The first order of business -- and one that cannot wait until inauguration -- must be halting the robbery-in-progress known as the "economic bailout."

Stocks advance to add to week's large gains

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — The stock market closed out a horrendous October, its worst month in 21 years, with a big advance Friday as more investors took chanc...

Treasury, FDIC Near Deal On Mortgage Aid

Washington Post | Peter Whoriskey, David Cho and Zachary A. Goldfarb | Posted 05.25.2011 | Politics

Negotiators for the Treasury and Federal Deposit Insurance Corp. are nearing agreement on a plan to have the government guarantee the mortgages of mil...

Fed cuts key interest rate half-point to 1 percent

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The Federal Reserve has slashed a key interest rate by half a percentage point as it seeks to revive an economy hit by a long list ...

White House Tells Banks To Stop Hoarding Money

AP | JENNIFER LOVEN | Posted 05.25.2011 | Business

WASHINGTON — An impatient White House prodded banks and other financial companies Tuesday to quit hoarding billions of dollars flowing into thei...

Jon Stewart: Bush Bailout Speech Just Like Iraq Speech (VIDEO)

The Huffington Post | Rachel Weiner | Posted 05.25.2011 | Politics

Jon Stewart finds an eerie similarity between President Bush's big bailout speech and his Iraq invasion speech five years ago. "Those who do not study...

McCain Supporting Bailout, Reid Says

The Hill | Posted 05.25.2011 | Politics

Republican presidential nominee John McCain will support a proposed $700 billion bailout of the financial markets, Senate Majority Leader Harry Reid (...

Bloomberg: Obama, Not McCain, Has Steady Hand

Bloomberg | Posted 05.25.2011 | Politics

For the first time since 1932 a presidential election is taking place in the midst of a genuine financial crisis. The reaction of the candidates was r...