I can’t say that this comes as any shock: In the six weeks since lawmakers approved the Treasury’s massive bailout of financial firms, the government has poured money into the country’s largest banks, recruited smaller banks into the program and repeatedly widened its scope to cover yet other types of businesses, from insurers to consumer […]
And to think that everyone was bitching about the $700 billion bailout: The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September […]
When no matter what you do, you keep sinking. That’s the best way to sum this up: Nearly a fifth of U.S. borrowers owe more on their mortgages than their homes are currently worth – and that number is growing. 20% of American homeowners are in quicksand right now and more are stepping into it. […]
The bailout bill that passed the Senate last night included a bunch of pork and earmarks in it. McCain has said repeatedly that he would veto any such bill. So if he were President now, would the bailout receive the stroke of his veto pen?
During debate for the bailout, McCain didn’t speak. Instead he entered into record a prepared statement. Barack Obama spoke for 13 minutes and all the networks covered it. The same would have happened for McCain, so why did he pass up this free PR? I was skeptical about the whole “drooping eye” thing about McCain. […]
The Republicans have been planning all along to use this bailout as an issue against Democrats, despite the fact that it is a bill by a Republican administration. They were so intent on using it that the RNC already had made attack ads and sent them to key states: The Republican National Committee’s new advertisement […]
That’s exactly what the fed is doing, and was doing before the bailout bill even hit the floor of the House: The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression. The Fed increased its existing currency […]
Bush addressed the nation a bit ago about the failure of the bailout bill. If the purpose of his speech was to instill some confidence into the market, a safe assumption given the timing of this speech, he failed miserably. (video just uploaded so might take a few to process) This is the look of […]
Andrea Mitchell was on Morning Joe blaming Barack Obama for the bailout failing. Her argument is that he didn’t bring the Congressional Black Caucus on board to vote for it. She gets noticeably mad about this, despite the fact that Democrats delivered more votes than promise and the fact that the CBC was dead set […]