2008 Financial Bailout

How Wall Street and Its Backers on Capitol Hill Silenced a Critic Calling for Greater Regulation of Derivatives From Democracy Now!: Last month, when the a subcommittee of the House Financial Services Committee held a hearing on the derivatives market, Robert Johnson was the only non-industry expert invited to speak. The former economist at the Senate Banking Committee and the Senate Budget Committee was invited just sixteen hours before the hearing. His testimony was cut short after five minutes by Congresswoman Melissa Bean, and the committee has since refused to post online his full testimony along with the statements of the other panelists. Robert ... Read Full Story

Daily Real Estate News | September 26, 2008 Congress Divided on $700 Billion Bailout Plan Congressional negotiators resumed meetings on Friday to revive or rework the proposed $700 billion financial bailout plan. On Thursday, the word was that the group of lawmakers were near “fundamental” agreement on the bailout of the U.S. financial sector. But that consensus fell apart Thursday night, with Democrats blaming the House Republicans for the apparent stalemate. Conservatives, however, have complained that the plan would be too costly for taxpayers and would be an unacceptable federal intrusion into private business. President Bush is urging lawmakers to work through their disagreements ... Read Full Story

The ABC News digital sign in Times Square announces the stock market plunge September 29, 2008 at Times Square in New York City. The market took a plunge after announcements that the House did not pass the $700 billion proposed bailout. (Photo by Rick Gershon/Getty Images North America)  Let's do a little exercise. Take out a piece of paper and a pen. Now draw a wiggly line from the upper left to the lower right. Congratulations, you've just graphed today's stock market. Every measure of market health and stability came crashing down today following the House of Representatives' rejection of President Bush's $700 billion ... Read Full Story

USA GET YOUR ECONOMY IN ORDER & PROTECT OUR ASSETS OR WE WILL SIEZE FORT KNOX On a day when major Headlines read GM, FORD, & CHRYSLER SEEK BAILOUT, little China is flexing its financial muscle. China lectures US on economy The US was lectured about its economic fragilities on Thursday as senior Chinese officials urged the administration to stabilise its economy, boost its savings rate and protect Chinese investments. The message went to Hank Paulson, the US Treasury secretary, in Beijing for the strategic economic dialogue he helped launch to discuss long-term issues between the two countries. Wang Qishan, a vice-premier and leader ... Read Full Story

George W. Bush, I abandoned free-market principles to save GM & Chrysler, handed over $17.4 Billion to the Auto-Makers, Ford said, "No Thanks." I wonder which stock pick would be the best bet in the long term, Ford? GM? or Chrysler? HMM . . . that is easy, how about the one with no federal bailout. The funds are part of the $700 Billion of TARP. The New York Times label the bailout as a temporary life-line. Does the NYT know that this is already a failure? WASHINGTON — President Bush tossed General Motors and Chrysler a temporary lifeline from the taxpayers on Friday, ... Read Full Story