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Government Insists On Oversight In New Auto Rescue Plan

HuffPost/Reuters/NYT/WP | Posted 05.25.2011 | Politics

UPDATE on 12/07 at 11:30PM: And the New York Times highlights that Democrats are pushing for stronger federal control and oversight of the auto indust...

SUVs At Altar, Detroit Church Prays For A Bailout

Reuters | Posted 05.25.2011 | Business

With sport-utility vehicles at the altar and auto workers in the pews, one of Detroit's largest churches on Sunday offered up prayers for Congress to ...

"Actual Job Numbers Are Likely Somewhat Worse"

Economix | Catherine Rampell | Posted 05.25.2011 | Business

Economists in financial services and in academia responded with dismay to the November employment report, released today. Here's a roundup of some of ...

Jon Stewart's Autoerotic Explanation: "Give Them The Money!" (VIDEO)

Comedy Central | Posted 05.25.2011 | Business

The Daily Show's Jon Stewart offered a personal comment on the proposed bailout of American automakers Chrysler, Ford and General Motors. In about tw...

Is The TARP Spending Or Investment?

Clusterstock | John Carney | Posted 05.25.2011 | Business

Hank Paulson likes to insist that the hundreds of billions of dollars his Treasury Department has handed out to banks is an investment program rather ...

Rumble At Treasury: Geithner Seeks To Push FDIC Chair Out After Clashes

Bloomberg News | Posted 05.25.2011 | Business

Timothy Geithner, President-elect Barack Obama's choice for U.S. Treasury Secretary, is seeking to push Federal Deposit Insurance Corp. Chairman Sheil...

Goldman Sachs Thinks US Lost 400,000 Jobs In November

247wallst.com | Douglas A. McIntyre | Posted 05.25.2011 | Business

The other more frightening bit of information is that Goldman Sachs believes that the nation lost 400,000 jobs last month. Most economists have that n...

Merrill Says Oil May Fall Below $25 Next Year Amid Global Recession

BloggingStocks | Posted Dec 4th 2008 1:46PM by Joseph LazzaroFiled Under: International Markets, Commodities, Oil, Recession | Posted 05.25.2011 | Business

If economist David H. Wang had predicted earlier this year that oil would fall to $40 per barrel in 2009, "I would have lost my reputation as an econo...

Economy Falls Deeper Into Recession, Says Beige Book Report

Reuters | Posted 05.25.2011 | Business

Economic activity has weakened across the United States since early October, while price pressures have eased with declines in retail and energy price...

Green Bailouts, Green Stimulus Could Be On The Way

Huffington Post | Dave Burdick | Posted 05.25.2011 | Green

Though spending on environmental efforts has long been considered an extra expense, it seems that two famously big spenders -- the United States gover...

Bailout Monitor Sees Lack of A Coherent Plan

New York Times | DIANA B. HENRIQUES | Posted 05.25.2011 | Business

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...

How Much Should Citigroup CEO Vikram Pandit Make?

New York Times | Posted 05.25.2011 | Business

Sarah Anderson, a director at the Institute for Policy Studies, is an advocate of aggressive pay curbs and isn't likely to buy into an eight-figure in...

Treasury Lacks Management, Control, Say Auditors

Wall Street Journal | MICHAEL R. CRITTENDEN | Posted 05.25.2011 | Business

WASHINGTON -- The Treasury Department has failed to address a number of critical issues while implementing the $700 billion financial rescue plan, inc...

Does The US Need A New Kind Of Tax?

Fortune.com | Shawn Tully | Posted 05.25.2011 | Business

It's called a value-added tax, or VAT, and it's been used for decades to pay the bills and sustain the immense growth of governments around the world,...

JPMorgan To Cut 9,200 Washington Mutual Jobs

Reuters | Posted 05.25.2011 | Business

JPMorgan Chase & Co on Monday said it will eliminate about 9,200 jobs at the former Washington Mutual Inc, which on Sept 25 became the largest U.S. ba...

The New Bernanke-Bair-Paulson Insurance Company

Economix | Uwe E. Reinhardt | Posted 05.25.2011 | Business

After first trying in vain to become toxic-asset managers and, next, non-voting equity investors in shaky banks, the peripatetic trio composed of the ...

Ross Perot Real Estate Fund Blows Up

Clusterstock | Joe Weisenthal | Posted 05.25.2011 | Business

Take a creaking CMBS market, mix in some leverage and voila: liquidation, just like that. The Journal reports that one of the first to explode was one...

Analyst Argues JP Morgan Chase Might Need More Money Than Citigroup

Silicon Alley Insider | John Carney | Posted 05.25.2011 | Business

Market fear reached such a high last week that JP Morgan CEO Jamie Dimon found he could not get on a plane to Saudi Arabia without arousing suspicions...

NYT: Geithner And Summers "Have Played Central Roles" In Provoking Crisis

New York Times | Posted 05.25.2011 | Business

In various high-level government positions, Timothy Geithner, Mr. Obama's choice for Treasury secretary, and Lawrence Summers, his choice for director...

Treasury Preparing To Ask For Rest Of Bailout Money

Politico | David Rogers | Posted 05.25.2011 | Business

Politico reports that the Treasury Department is readying itself to ask Congress for the rest of the $700 bailout money: After a rush of new commitme...

Plan To Save Citigroup Could Be Model For Bank Of America Plan

247wallst.com | Posted 05.25.2011 | Business

People had all along compared the new-look, post-Merrill and Countrywide Bank of America to the behemoth Citigroup, calling them both "too big to succ...

5 Bones To Pick With Coverage Of The Crisis

New York Magazine | Moe Tkacik | Posted 05.25.2011 | Business

4. "Our lawmakers left and right are either fools, wolves, or pigs. None of them are ultimately serving the best interests of this country; we must tr...

Riverwest, Milwaukee's Recession Plan: Print Own "River Currency"

Newsweek | Posted 05.25.2011 | Business

People nationwide may start hoarding their cash as recession fears grow. But in Riverwest--a progressive enclave of Milwaukee--residents have another ...

What New Treasury Secretary Geithner Must Prove

US News and World Report | Rick Newman | Posted 05.25.2011 | Business

Geithner is still a risky choice, and in a few months' time, the markets could very well have turned on him. Here's why: He's never been top dog. G...

Citigroup Brought To Its Knees

New York Times | ERIC DASH and JULIE CRESWELL | Posted 05.25.2011 | Business

In September 2007, with Wall Street confronting a crisis caused by too many souring mortgages, Citigroup executives gathered in a wood-paneled library...