Tag: Bailout
Your bailout money paid for lobbying campaigns designed to screw you
The top eight spenders in the financial industry spent nearly $30 million to lobby Capitol Hill last year, according to Nathaniel Popper of the...
Growing evidence suggests Wells Fargo targeted blacks for subprime loans
Memphis city officials have filed a lawsuit charging mortgage-loan giant Wells Fargo with discrimination. The New York Times reports:
The lawsuit, filed in federal court...
How to deal retrospectively with Wall Street crash? ‘Cut the taxes;...
In a moment that recalls Senate Minority Leader Josh Penry kicking off his gubernatorial campaign by declaring he would have rejected federal stimulus funds...
Reid trying to speed Udall bill to expedite credit card reforms
Senate leaders are trying to “hotline” a bill that would expedite previously passed credit card reforms to prevent companies from hiking rates and fees...
Band of Dems blasts Geithner plan
WASHINGTON-- Appearing before a House panel on Thursday, Treasury Secretary Tim Geithner made his best pitch for legislation granting the White House broad new powers to seize Wall Street firms when their collapse might torpedo others in the industry. It didn’t go so well.
Bailout watchdog warns of ‘coming collapse of the middle class’
Elizabeth Warren, the Harvard law professor who chairs the $700 billion financial bailout program oversight panel, offers a sobering view of the prospects for middle class families as they drown in personal debt from housing, health care and other costs attributed to suburban life.
Credit crisis bailout ‘largest outlay in American history,’ author says
It's enough to make your head spin. Seems like every time we turn around, someone's proposing another multi-hundreds of billions of dollars to bail out this, shore up that or rebuild something or other. Remember in the distant past of September, when the $700 billion rescue plan shocked everyone from Wall Street to Main Street? That was just the beginning.
Denver think tank refutes Reagan’s ‘government is problem’ meme
That sound you hear isn't the economy trickling down but what may prove to be the slow drip-drip-drip of a public repudiation of a long-held conservative political belief that "government is not the solution to our problems; government is the problem."
CC prof: Meltdown puts ‘decisive constraints’ on Obama foreign policy
A Colorado College political science professor paints a grim picture of the economic crisis facing the Obama administration and the constraints it will put on any attempt to redirect foreign policy. In an interview published Wednesday on the Harper's Magazine Web site, international politics expert David Hendrickson — who recently wrote "Cause for Depression," a pictorial guide to the financial crisis — spoke to Ken Silverstein and offered some dire predictions and grim warnings.
Wall Street collapse derails GOP’s domestic-drilling campaign strategy
With energy prices plummeting right along with the rest of the stock market the past two weeks, Republicans may have lost one of their best weapons for attacking Democrats in the energy battleground state of Colorado.