Austerity Bites Ireland and Elite
• dailybell.comDominant Social Theme: We are shocked that Ireland has not improved. But we know it will!
Current News Headlines
These pages list the most recent news stories reported by the readers and editors of Freedom's Phoenix:
AIG Announces Plan to Repay U.S. Rescue With Stock
• bloomberg.comAmerican International Group Inc. agreed to wind down its $182.3 billion bailout by converting the Treasury Department stake into common shares for sale, a step toward independence for the insurer whose near collapse two years ago threatened the glob
Credit Unions Bailed Out
• online.wsj.comRegulators announced Friday a rescue and revamping of the nation's wholesale credit union system, underpinned by a federal guarantee valued at $30 billion or more.
Cities can boost business with more freedom
• Nick Dranias - Goldwater InstituteIf Arizona local governments are serious about pulling communities out of the Great Recession, they need to reassess policies and do away with those that impede business, job creation and freedom.
Bailout cop expands staff as TARP expires
• ReutersThe Treasury's $700 billion bailout fund officially expires in two weeks, but not for Neil Barofsky, the top cop for the Troubled Asset Relief Program. He's hiring new staff and opening four regional branch offices to pursue TARP-related fraud cas
Feds Spent $800,000 of Economic Stimulus on African Genital-Washing Program
• CNS NewsThe National Institute of Mental Health, a division of the National Institutes of Health, spent $823,200 of economic stimulus funds in 2009 to teach uncircumcised African men how to wash their genitals after having sex.
Treasury Dept: No US Bailout for Kabul Bank
• News LinkOfficials from the US Treasury Department are insisting tonight that absolutely no US taxpayer dollars will be put forward to bail out the increasingly unstable Kabul Bank, which has been struggling with a growing bank run over the past week.
Obama calling for more infrastructure spending
• APNewsVowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation's roads, railways and runways that would cost at least $50 billion.
New CCC – Didn’t Work Last Time Either.
• The PPJ GazetteVowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation’s roads, railways and runways that would cost at least $50 billion. The infrastructure investments are one part o
Taxpayers likely to face initial loss on GM IPO
• ReutersThe U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said. Subsequent offerings of the government's holdings may be profitable
Ex-Lehman CEO Says Feds Refused to Save Firm
• APThe former chief of Lehman Brothers told a panel investigating the financial crisis that the Wall Street firm could have been rescued, but regulators refused to help even though they later bailed out other big banks.
Why You Do Not Want to Invest in the 'New' General Motors
• Seeking AlphaIt wasn’t that long ago that General Motors underwent a US government-bankrolled bankruptcy that all but wiped out its existing shareholders. Now, thirteen months later, General Motors is filing for an initial public offering (IPO). The US and Can
Fed officials discussed further stimulus steps
• APFederal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.
10 bailed-out banks spent $16.3M lobbying in 1H
• Eileen Aj Connelly, AP Business WriterThe 10 banks that received the most bailout aid during the financial crisis spent over $16 million on lobbying efforts in the first half of 2010, as the debate over financial regulatory reform reached its height. Disclosure reports show that the b
Why No Economic ‘Full-Scale Attack’ Until Now?
• www.drscoundrels.comMr. President - the question begs to be asked. After 17 months and 8 vacations, you're just now figuring we need to go into "full scale attack" mode? What is wrong with this picture?
Recovery Depends on Investment and Capital Accumulation
• The International LibertarianWith the economy apparently souring further without having recovered from the current recession a look at two articles written in January of 2009 on the subject seems timely. This article and Recovery Depends on Investment and Capital Accumulation we
Summer Of Recov…. Er Reality (i.e. The True Story)
• www.drscoundrels.comThe true story of the neverending wallet, the taxpayers and the summer of recovery. What does the administration have in mind and how will it affect business?
Banks to benefit most from White House program to help fight foreclosures
• The HillBanks will get the biggest benefit from an Obama administration housing program designed to help unemployed homeowners escape foreclosure. Housing experts expressed concern that banks, not homeowners, will be helped by the White House's $3 billion
G.M. Pushes for U.S. to Sell Entire Stake at I.P.O.
• Washington PostEager to rid his company of the stigma of being government owned, the chief executive of General Motors, Edward E. Whitacre Jr., said Thursday that G.M. wanted Washington to sell its entire stake during an initial public offering.
Goldman reveals where bailout cash went ... overseas banks
• Des Moines Register (w/ video)Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions. Goldman Sachs disclosed the list of companies to the Senate Finance Committee after a threat of subpoena
Is The Bailout Going To Work, Or Is America Going To Descend Into The Depths of Economic Hell?
• Bill Sardi via LewRockwell.comMost Americans are too busy or distracted to realize the world economy now sits on an unprecedented abyss.
US taxpayers’ Afghan aid money buys rich Afghans’ Dubai villas
• RawstoryWhat you might not have heard is that your hard earned taxpayer dollars are also being used to buy well-connected Afghans posh villas in Dubai.
Retailers Launch Their Own Stimulus Packages
• NY TimesTired of waiting for spending to rebound on its own, retailers are taking matters into their own hands. Wal-Mart's Sam’s Club is introducing a program in which it facilitates loans for shoppers of up to $25,000, backed by the Small Business Administ
Too Big to Jail? Time to fix Wall Street's accountability deficit.
• Monika Bauerelin and Clara Jeffery via MotherJonesMAYBE WALL STREET should open a casino right there on the corner of Broad, because these guys simply cannot lose. After kneecapping the global economy, costing millions their homes and livelihoods, and saddling our grandchildren with massive debt—aft
The Nightmare Financial Regulatory Scheme
• The International LibertarianSenator Dodd (D- CT) revealed his plan for financial reform. It is nothing but a plan for a regulatory dictatorship.
Bailout with UPS - Brownbailout.com
• YouTubebrownbailout — June 08, 2009 — Why does a company that brings in so much money need a bailout from Congress?
Obama pleads for $50 billion in state, local aid
• PoliticoPresident Obama urged reluctant lawmakers to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid "massive layoffs of teachers, police and firefighters" and to support the still-fragi
The Subprime Crisis of Student Debt
• NY TimesMs. Munna, a 26-year-old graduate of New York University, has nearly $100,000 in student loan debt from her four years in college, and affording the full monthly payments would be a struggle. For much of the time since her 2005 graduation, she’s been
Unions Payoff For 100Mil? 165 Billion in Union Pension Fund Bailout By Taxpayers
• DRScoundrelsThat’s right, we called it. I wrote about it in an article you can see on here a couple of days ago. You can listen to it on my last radio show – the whole first hour. 100 million dollars to democrats from just 2 key unions to get their lapdog democr
Revealed: Frank Luntz, GOP message maven, publicly boasts Wall Street clients
• RawStoryUnder attack for authoring the Republican strategy to link financial reform legislation to "permanent bailouts" for Wall Street, Frank Luntz claims his widely-publicized memo was merely "defending economic freedom."
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