"It's a modernized version of the Resolution Trust Corporation (RTC), which was used after the S&L crisis," said the aide, declining to be further identified. (how much you want to bet that the average American doesn't get into the
WASHINGTON - The Federal Reserve on Thursday nearly quadrupled the dollars it provides to foreign central banks as part of a coordinated effort to inject liquidity into the global financial system. (WTF????)
"...talk of a government-led plan that would bail out the banks in a Resolution Trust Corp.-type scenario bolstered equities in the afternoon."
On the day following the 221st anniversary of the signing of the U.S. Constitution, WTP Chairman and constitutional activist Robert Schulz today filed a federal lawsuit in U. S. District Court in Albany seeking to halt the execution of the emergency
Obama has a new ad out pushing the "wage gap" myth. As we've discussed many times, men earn more than women on average for many legitimate reasons.
Ron Paul discusses the collapsing financial markets. "We're in the middle of something very big and it doesn't look like it's going to end soon."
All about the current "subcrime" crisis.
Markets nosedive, recession spreads, world financial system shaken
NEW YORK (Reuters) - Wall Street's manic dealmaking reached a new pitch on Wednesday as U.S. share prices plummeted to three-year lows and forced increasingly desperate major banks to scramble for merger partners.
The United States and China announced Tuesday a raft of trade agreements at the end of bilateral trade talks amid a faltering US economy buffeted by a financial crisis. (do you think that this trade agreement and the financial bailouts are linked :)
NEW YORK (AP) — Gold prices exploded Wednesday — posting the biggest one-day gain ever in dollar terms — as fears of more credit market turmoil unnerved investors and triggered a flood of safe-haven buying.
The flow of money through critical parts of the financial system all but stopped yesterday, prompting the stock market to plunge again as banks lost faith in one another and investors rushed to US government securities to protect their savings.
Lew is horrified by the latest Government machinations, in the Markets.
If there was any good news it was investors here and abroad decided that the only safe place to put their money is in government securities. At one point the effective yield on a Treasury bill was driven below zero
The chief executives of the three big American automakers — General Motors, Ford and Chrysler — met on Wednesday afternoon with House Speaker Nancy Pelosi. When they emerged, they expressed optimism that the loan guarantees would be included as par
During the frontier period, when the government that afflicts us was still in its pupal stage Washington employed an interesting method of stealing land from various Indian communities.
In this famous 1911 editorial cartoon, Karl Marx is rapturously greeted on Wall Street and taken to the bosom of Carnegie and Rockefeller. This tidily sums up the relationship between Wall Street corporate socialists and the non-housebroken Marxist r
Cavuto invites Ron Paul back to discuss the economy and doesn't appear to be too happy that Paul is insinuating this is the end he had predicted five years ago.
The deal adds $5 trillion in debt to an already stressed national balance sheet. That basically doubles the U.S. national debt and can't help but push the U.S. dollar lower and U.S. interest rates higher in the long term. The U.S. government is g
[taxpayers must bail them out too] Shares of Wall Street firms Morgan Stanley and Goldman Sachs plummeted on Wednesday and Britain's biggest mortgage lender looked set to be sold in the latest signs of extreme distress in the financial industry.
U.S. stocks tumbled to a three-year low on Wednesday as the U.S. rescue of insurer AIG failed to calm a crisis of confidence in global markets and banks were scared to lend to each other.
Gold posted a record one-day gain in absolute dollar terms on Wednesday, hitting a near six-week high with investors fleeing to safety as they watched the carnage on stock markets and expected further losses.
Joseph Stiglitz has warned that the current financial crisis will continue for at least another eighteen months and in many ways represents a worse situation than the one faced by Americans during the great depression of the 1930s.
Foreclosure resales made up 45.5 percent of all Southland resales last month, up from 43.7 in July and 10 percent a year ago. The figure represents the percentage of homes resold in August
The Fed is doubling down on a bad hand. It is buying more stock as it falls, instead of selling out. The Fed is lending more and more of its liquid government securities to client banks. In return, it is accepting their questionable and risky collate
Sept. 17 (Bloomberg) -- The Treasury will sell more debt to enable the Federal Reserve to expand its balance sheet, a sign of the strains created by the biggest extension of central-bank credit to financial companies since the Great Depression.
"[T]here are literally millions of people ... going to have their lives destroyed because of the greed and excess and corruption," McCain said. Asked for specific examples of corruption, campaign adviser Steve Schmidt offered none.
LONDON, England (CNN) -- World stock markets were in decline again Tuesday, a day after the collapse of one of the largest investment banks in the U.S. contributed to the worst day on Wall Street in seven years.
SINGAPORE (CNN) -- Hundreds of customers flocked to the Singapore office of troubled insurer American International Group Inc. (AIG) on Wednesday, many hoping to pull their investments and policies from the company.
The current mortgage crisis came about in large part because of Clinton-era government pressure on lenders to make risky loans in order to “make homeownership more affordable for lower-income Americans and those with a poor credit history