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Treasury Secretary Geithner laid out the Obama administration's financial rescue program for his international counterparts in an effort to rally a vigorous global response to the worsening crisis and reassured the world's leading economies t
Who remembers economists' hysteria over the "Reagan deficits"? Wall Street was in panic. Ronald Reagan's fiscal irresponsibility was bringing the end of the world. The 2009 federal budget deficit that Obama is inheriting, and adding
"One plan includes a Chapter 11 filing that would assemble all of GM's viable assets, including some U.S. brands and international operations, into a new company," the newspaper said.
Despite the enormous size of the $787 billion stimulus plan, some economists worry that it won't make a big enough dent in unemployment and that lawmakers will have to work on another stimulus in short order -- something members of Congress are l
The stimulus package Congress passed last night imposes new limits on executive compensation that could significantly curb multimillion dollar pay packages on Wall Street and goes much further than restrictions proposed by the Obama administration la
Congress released details of a compromise stimulus package Thursday night, a bill that includes $7.2 billion for broadband programs, $2 billion for health information technology, and $650 million for the digital TV transition.
The US Congress gave final approval to President Barack Obama’s $787 billion economic stimulus package in a mix of tax cuts and federal spending. The Senate approved the package 60 to 38 with 3 Republicans joining Democrats
As Wall Street tracks Washington's moves to help the beleaguered banking sector and pass more economic stimulus, nearly 400 of the S&P's 500 companies have weighed in and reported a collective loss -- even excluding financials.
In the meantime, what else has happened? The real global economy slammed on the brakes and shook off excess use of credit and inventory. All commodity prices have collapsed back to painful levels, including that of oil. Surplus inventories and capaci
A sober assessment of the growing mountain of losses from bad bets, measured in today's marketplace, would overwhelm the value of the banks' assets, they say. The banks, in their view, are insolvent.
Fortune's Shawn Tully says the treasury secretary's plan for helping banks has too many conflicting ideas and too little detail.
An American tradition - socialized costs, privatized profits.
You’ve probably seen the news coverage of House of Representative members grilling Wall Street executives about their extravagant spending while taking public money. You might not have seen...
So many heads to roll! Is it kosher to guillotine on the Sabbath?
It's not complicated, and it's inevitable. If we begin now, we will avoid enormous misery.
The globe has lost half of its wealth and associated credit. Please sit down and consider that for a while. This means that no loans can be profitably called. All bank assets are technically under water. That means that their capital base is really z
California Gov. Arnold Schwarzenegger will notify up to 20,000 state employees on Friday that their jobs will be eliminated if lawmakers fail to balance the state's budget by then, closing a shortfall of more than $40 billion, a spokesman said on
In this nine minute interview William Engdahl explains the relationship between the dollar and other major currencies as well as the state of the worlds economy.
Wall Street banks have taken billions of taxpayer dollars. Now some of them are starting to wonder if they should give the money back. Banking executives worry that the government may intrude further into their businesses as long as they are beholden
As Sacramento squabbles over the state's $42 billion deficit, Californians are getting a bitter taste of what's to come after the steep budget cuts that are inevitable when legislators and Gov. Arnold Schwarzenegger finally hammer out a deal.
In 2009 were going to see the worst economic collapse ever, the Greatest Depression, says Gerald Celente, U.S. trend forecaster. He believes its going to be very violent in the U.S., including there being a tax revolt.
On Thursday, at about 11 o’clock in the morning, the Federal Reserve noticed a tremendous draw down of money market accounts in the United States to a tune of $550 billion being drawn out in a matter of an hour or two. “It would have been the end of
The intended consequences of the federal government's economic stimulus plan are almost too great for Peter Schiff to forecast.
The relatively unknown Baltic Dry Index, or BDI is a leading economic indicator. Read this article, watch the video, then start stocking up on things you need while you can.
Gov. Arnold Schwarzenegger will send layoff warnings to at least 20,000 state workers Friday unless he reaches a budget agreement with legislative leaders. He intends to eliminate 10,000 full-time positions from the state's general fund, either
The post office will get an extra 2-cents worth when you mail a letter starting in May. The U.S. Postal Service announced the price of a first-class stamp will rise to 44 cents on May 11. That gives plenty of time to stock up on Forever Stamps, which
Investors are frustrated with the government's latest bank bailout plan _ and showed it by unloading stocks. The major stock indexes fell more than 4 percent Tuesday, including the Dow Jones industrial average, which tumbled 382 points.
On a single day filled with staggering sums, the Obama administration, Federal Reserve and Senate attacked the deepening economic crisis with actions that could throw as much as $3 trillion more in government and private funds into the fight against
JL Mealer or MealerAMC has released a time tested plan to ressurect the US economy. The world will follow this plan and they are ready and willing to make this happen. Obama can keep his Change.. and return the 1.6 Trillion our children will owe Uncl
The hunting ground for “war criminals” under the standard set by the new administration’s legal bloodhounds is rich with game preys. Beyond Bush are detention camps across the country ready to house the crowd to be investigated [read Part I].
