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FDIC Tries To Break Lending Logjam With $1.4 Trillion Guarantee

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — The FDIC will guarantee up to $1.4 trillion in U.S. banks' debt for more than three years as part of the government's financial res...

End the Bailout

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

Paulson is now on his third plan for how to spend the cash Congress gave him. Nobody knows what he will do next.

Let GM Fail

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

Throwing taxpayers' good money into that sink hole called the US auto industry will be tantamount to a transfer of wealth from tax payers to GM employees.

Change We Can Bank On

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

This is not change we can believe in -- not if Robert Rubin or his protégé, Lawrence Summers, get to call the shots on the economy in Obama's incoming administration.

FDIC Says Its New Plan Could Save 1.5M Homes

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — Publicly breaking with the Bush administration's official stance, the Federal Deposit Insurance Corp. proposed Friday to use $24 bi...

FDIC, Treasury Clash On Anti-Foreclosure Plan

Reuters | Karey Wutkowski and Patrick Rucker | Posted 05.25.2011 | Business

A top U.S. banking regulator unveiled a plan on Friday to prevent about 1.5 million foreclosures, breaking ranks with the Bush administration by deman...

Inflation Prospects

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

In the last few months, we have seen the prices of commodities dropping precipitously. Oil dropped from $150 to $60, Gold dropped from $1,000 an ounc...

Yes We Can... What?

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

Barack Obama is faced with very high expectations. There is only a small likelihood that any human being could actually deliver a performance commensurate with those expectations.

Washington Overreacts

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

Have you noticed our politicians so often do exactly the wrong thing? They mean well, but in their haste to propitiate us, the voters, they cause more damage than good.

Why the Stock Market is Cheap Now

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

We are seeing some of the best stock valuations in the last century. Once fear of illiquidity dissipates, the stock market will get back to normal levels.

New President, New CRA

Mark Winston Griffith | Posted 05.25.2011 | Business
Mark Winston Griffith

This nation doesn't need a weaker CRA, but a re-conceived and far stronger tool in the effort to ensure ready access to quality, non-discriminatory, financial services in all communities.

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...

The Olympics of the Swindles

Rep. Major R. Owens | Posted 05.25.2011 | Business
Rep. Major R. Owens

The present economic collapse, which will surely devour more than a trillion taxpayer dollars within the next six months, utilized an earlier model -- the Savings and Loans swindle.

Cash is Not King

Alan Schram | Posted 05.25.2011 | Home
Alan Schram

If you do not find stock prices cheap now, with the market pulverized 45% in the last year, then you probably should never own stocks.

Credit Crunch and the Money Supply

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

Imagine a world in which Uncle Sam is the monopoly supplier of bananas, in the same way that he is now the monopoly supplier of money; eventually people will become anxious about future decisions of the banana board.

In Paulson We Trust

Robert L. Borosage | Posted 05.25.2011 | Business
Robert L. Borosage

What's needed is an independent agency with summary powers and an independent board, to work with the FDIC and other agencies to sort out the solvent banks from the broke, those that need to be saved from those that should fail.

Biggest Heist in History

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

We lured the Chinese, Japanese, Europeans and Arabs to take our currency and our financial instruments, money market funds, SIV's, CDS's and mortgage paper galore.

FDIC Chief Criticizes Government Response to Crisis

ProPublica | Posted 05.25.2011 | Business
ProPublica

A public criticism coming from one of the key government officials overseeing the bailout seems rare enough. But Sheila Bair has been similarly outspoken before.

Little Scrutiny of Rapid Financial Rule Changes

ProPublica | Posted 05.25.2011 | Business
ProPublica

The Wall Street Journal notes that the new rules have something else in common: The "details are almost always hashed out behind closed doors."

The Banking Scandal: Repeating the Same Mistakes and Expecting Different Results

Reese Schonfeld | Posted 05.25.2011 | Business
Reese Schonfeld

The President and Congress have finally allowed us to allocate $700 billion to a policy, about whose success they are, at least reasonably, doubtful. They should enact new regulations.

The Time To Raise The Maximum Federal Deposit Insurance Coverage

Rep. Steve Cohen | Posted 05.25.2011 | Politics
Rep. Steve Cohen

This proposal will not only give consumers more protection in this uncertain environment, but it could help garner more votes from my colleagues.

I'd Post About David Gergen Calling The House Bailout Vote "Shockingly Irresponsible," But It's Probably Not A Good Idea To Offend Anyone Right Now

Huffington Post | Rachel Sklar | Posted 05.25.2011 | Media

Senate passes $700B rescue; House votes lured

AP | JULIE HIRSCHFELD DAVIS and CHARLES BABINGTON | Posted 05.25.2011 | Business

WASHINGTON — After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, winning lopsided passage ...

And the Financial Experts Say...

Anthony Anderson | Posted 05.25.2011 | Business
Anthony Anderson

If we act soon, we can invest intelligently in a lifestyle independent from gas prices, food prices, and interest rates. We can take back our money from this culture that is consuming the planet.

WaMu becomes biggest bank to fail in US history

AP | MADLEN READ | Posted 05.25.2011 | Business

NEW YORK — As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks _ Washington Mutual Inc. _ h...