Save Main Street not Wall Street!
The Bush administration has proposed a massive bailout plan of at least $700 billion (maybe as much as $1.7 trillion) to stabilize the financial system amid the biggest economic crisis since the Great Depression.
Wall Street Bailout? Not Without Preconditions
After the collapse of several major banks, lending institutions, and investment firms and with at least two more major Wall Street banks on the chopping block, the Bush administration is trying to rush the handout through Congress without much public discussion, with no strings attached, and at a huge cost to taxpayers.
John McCain Plans to Deregulate Health Insurance
With the collapse of Wall Street on everyone's mind, John McCain may have made a huge mistake publishing an article in the current issue of Contingencies magazine calling for the deregulation of the health insurance industry.
Profits for the Private Corporations and Losses for the Taxpayers
Contrary to its ideology of capitalism and market economy, the US government has, by force of circumstances, taken control of two heavily loss-making American mortgage companies, Fannie Mae and Freddie Mac, on September 7, 2008.
A Complete Guide to the Bush-McCain Economic Crisis
The week of September 15, 2008 has been a dramatic and unprecedented period in the world of high finance. The economic crisis is not over despite what some pundits and politicians have claimed. A series of government interventions have changed the map of banking and finance.
Obama Tackles Economic Crisis, Calls for Comprehensive Solution
Linking the financial crisis on Wall Street to the economic struggles of working families, Barack Obama, in a speech today, Sept. 19th, in Miami, Florida, called for 'even bolder and more decisive action' than the Bush administration has been willing to take.
A Dose of Socialism to Forestall Disaster
It's easy to become apocalyptic contemplating the vast sums of wealth being destroyed in the unfolding financial crisis gripping Wall Street. The economic tsunami unleashed there will soon reach every corner of the nation.
Economic Meltdown: John McCain and the 'Old Boy's Network'
The labor movement sharply criticized the Bush administration's and John McCain's responses to the failure of two major US financial institutions this week.
Displaced People: NAFTA's Most Important Product
Since the passage of the North American Free Trade Agreement (NAFTA) in 1993, the U.S. Congress has debated and passed several new bilateral trade agreements with Peru, Jordan and Chile, as well as the Central American Free Trade Agreement.
US Government Nationalizes AIG
“The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG)”, said the Federal Reserve in a press release.
