Economy
Showdown Looms Over Auto Bailout Plan
The pleading for a financial bailout of the U.S. auto industry is becoming more widespread and insistent. Governors from Michigan, Kentucky, Ohio, Delaware,...
Auto Sales Drop; Detroit Faces “Carnage”
It's no surprise that U.S. automakers are in trouble. Facing massive costs for health insurance, falling demand for mainstay products like trucks and...
Read moreWhite House to Banks: “Lend More Money”
On October 28, as the Treasury Department announced a series of steps to begin delivering infusions of a $250 billion government bank-recapitalization plan,...
Read moreA.I.G. Burning Through Bailout Loan
The American International Group is burning through its $123 billion bailout loan quickly. According to Edward Liddy, the man brought in to restructure...
Read moreCompanies 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...
Read moreFed 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...
Read moreNationalization 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...
Read moreGM 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...
Read more“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...
Read moreFed to Buy Commercial Paper
Following a roller coaster day on Wall Street that saw the Dow close under 10,000 for the first time in years, the Federal...
Read morePower 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...
Read moreMcCain & 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...
Read moreHouse 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...
Read moreBush, 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...
Read moreWaMu Bank Failure Is Largest in U.S. History
The Federal Deposit Insurance Corp. seized Washington Mutual Inc. (also known as WaMu bank) on September 25, and then brokered an emergency sale...
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