Companies Line Up for Bailout Bucks
With the federal government doling out $700 billion of Americans' hard-earned money under the new bank bailout law, a sizeable list of companies is competing fiercely for a share—...
About: Gary Benoit
Posts by Gary Benoit
Greenspan Wrongly Faults Free Market for Crisis
In testimony that surprised many observers, former Federal Reserve Chairman Alan Greenspan professed a "state of shocked disbelief" over the unfolding global financial crisis. Where once Greenspan regarded himself...
Global Financial Summit Announced
The Bush administration announced today that the first of what will be a series of global financial summits will be held in Washington, D.C. on November 15. Vowing to...
Fed Will Pump Another $540 Billion Into Economy
In its latest desperate move to head off the inevitable recession, the Federal Reserve announced Tuesday the creation of another new facility, the Money Market Investor Funding Facility, which...
McCain-Obama Tax Debate Ignores Inflation Tax
Recently on the campaign trail, John McCain and Barack Obama have accused each other of offering tax proposals that would hurt the middle class. John McCain, in a paid...
Media Cherry-picked Powell Interview Endorsing Obama
The major media have widely hyped Colin Powell's October 19 endorsement of Barack Obama for president. On that day's edition of the ABC News program This Week With George...
NSA Wiretapped U.S. Soldiers’ Intimate Conversations
ABC's Nightline has broadcast a shocking interview with two former NSA clerks who were charged with recording and transcribing even intimate telephone conversations between U.S. soldiers stationed in Iraq...
Global Financial Regulatory Body on the Way?
With the European Union leading the way, the internationalists are preparing to exploit the recent global financial turmoil to hold a "second Bretton Woods" and radically restructure the world's...
Nationalization of Banks Begins
In what is unabashedly being called a "partial nationalization" of the U.S. banking industry, the Bush administration announced Tuesday morning that the federal government will be purchasing $250 billion...
Like Barack Obama, John McCain Is a Socialist
When Sen. John McCain was campaigning in Waukesha, Wisconsin, on October 9, a supporter told him "I'm really mad" because of "socialists taking over the country," the Associated Press...
U.S. Army Brigade On Call for Domestic Emergencies
The president now has an active-duty Army unit here in the United States to use at his beck and call. The unit will serve as an on-call federal response...
GM May Face Bankruptcy
Triple-digit losses on the Dow are becoming a commonplace, but there are now ominous signs that the financial crisis of 2008 is entering a new and possibly more devastating...
“Bailout” Really About Nationalizing U.S. Financial Sector
As the financial crisis continues, the Bush administration, led by Treasury Secretary Henry Paulson, is moving ahead to enact the unconstitutional and socialistic measures contained in the recently passed...
Power Brokers 1, Constituents 0 on Bailout
"Madame Speaker, only in Washington could a bill demonstrably worse than its predecessor be brought back for another vote and actually expect to gain votes," Congressman Ron Paul lamented...
McCain & Obama Vs. Ron Paul on Bailout
Two days after the House rejected the mammoth $700 billion bailout bill, the Senate passed it. Not surprisingly for those who understand the world of realpolitik, Senators John McCain...
House Responds to Public Pressure, Defeats Bailout Bill
In a stunning defeat to the financial powers that be, the U.S. House of Representatives rejected the proposed $700 billion dollar bailout bill in the teeth of formidable media...
McCain-Obama Debate Was Really a Waltz
The first McCain-Obama debate was supposed to be limited to foreign policy. Because it occurred in the midst of the financial meltdown, moderator Jim Lehrer led off by asking...
Bush, Paulson, Bernanke Not Trustworthy on Economy
These days President Bush and the managers of our monetary policy sound like prophets of doom when they talk about the economy. "The government's top economic experts warn that...
PBS Distorts History in “The Judge and the General”
As fate and fortune would have it, I arrived in Miami from Chile in time for one of the periodic fundraising drives for public television. Some things, it would...
Call Ron Paul Correct About the Economy
A year ago, Congressman Ron Paul was just beginning to turn heads on the national electoral stage, owing to his presidential campaign's unexpected success at raising money. Congressman Paul...