Auto Bailout: Lemon or Lemonade?
Will the bailout of the Big Three automakers — General Motors, Ford, and Chrysler — refresh the auto industry or further sour the economy? ...
Sectors
Fed Announces Another $800 Billion in Bailout Funding
The Bush administration and the Federal Reserve announced on November 25 almost $800 billion dollars in additional funds to help, bail out, or otherwise prop up the financial sector, bringing to...
Federal Reserve Loaned Nearly $2 Trillion
By now everyone knows that Congress and the White House approved an enormous $700-plus billion package a short time ago and that the Treasury Department is rapidly burning through that mountainous...
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, New York, and South Dakota have added their...
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 SUVs, and skittish consumers worried about the economy,...
White 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, White House spokeswoman Dana Perino used carrot-and-stick language...
A.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 the company, it may soon need to ask...
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— and it...
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 will provide...
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 worth of...
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 phase. Thursday,...
“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 and misleadingly...
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 on the...
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 and Barack...
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 and political...