Confronted with a hugely expensive economic crisis, Democratic and Republican lawmakers alike have elected to pay the bill mainly by borrowing money rather than cutting spending or raising taxes. The cost will become a bigger burden
"As the number of these loans grew and the risks of default increased, in 2005 there were further congressional investigations into the actives and accounting methods at Fannie Mae. After it was discovered that Franklin Delano Rains himRead Letter
Henry Cisneros spent years trying to make the dream of homeownership come true for low-income families. As Clinton's top housing official he loosened mortgage restrictions so first-time buyers could qualify for loans they could never get before.
We have narrowly avoided a global depression and are mercifully pointed toward merely the worst recession in a long while. This is thanks to a global economic meltdown made possible by libertarian ideas.
In the last 100 years there have only been two fires similar to that of today. The first inferno was in 1929, centered in New York. The second was in 1989, when Tokyo went up in flames. And in both cases, they not only failed to save the economy, the
York professor Peter Spencer, chief economist for the ITEM Club, says the global authorities have just weeks to get this right, or trigger disaster.
CAMP DAVID, Md. (AP) — European leaders are lobbying President Bush at the Camp David presidential retreat on Saturday to support a summit by year's end that would craft ways to reform the world financial system.
A simple-to-understand approach to a difficult subject. Don't be fooled by the promise of prosperity. You cannot build a house on a failed foundation.
They call it a rescue, most call it a bail out, those who know better call it an extortion. Hey, it’s all in your best interest right? Ha! Also, is it not bad when the exact policies being taken are those directly out of the play book of open Fascist
The roots of this year's financial crisis go back to a small team of bankers at J.P. Morgan in New York. Now, their invention - credit derivaties - has helped bring down Wall Street and has left Morgan with its biggest exposure of all.
Dr. Ron Paul, the Champion of the Constitution & currently the world's most prominent representative of Liberty talks on CNN American Morning (17th October).
U.S. stocks fell, capping a day that sent the Standard & Poor's 500 Index swinging between gains and losses at least 28 times, as worsening consumer confidence and housing data overshadowed Warren Buffett's advice to buy shares.
Rising mortgage rates could also put downward pressure on housing prices, which have already dropped 20% since their peak in July of 2006, according to the S&P/Case-Shiller Home Price index.
Mr. North translates Ben Bernanke's latest missive into a form that could well get him shoved incommunicado and without charge into a military prison as a detainee. Good stuff!
The 59-year old chain, with a California-heavy store base, filed for Chapter 11 bankruptcy protection at the end of July, but proved unable to gain any traction on its turnaround efforts.
Watch what happens by this time Monday... The world is a free-market,... no matter how hard they Bad Guys try to make it otherwise. Dow now Positive at 9,070.85 +91.59 (1.02%) Real-time: 2:51PM EDT (just a feeling)
This should clear up the financial crisis for everybody. Laugh until you cry.
(Nice snapshot of information)
LEARNING FROM HISTORY: THE CAUSE OF AND SOLUTION TO THE CURRENT FINANCIAL CREDIT CRISIS
The Reuters/University of Michigan preliminary index of consumer sentiment fell to 57.5 from 70.3 in September, the biggest decline since records began in 1978.
The total potential cost of the financial bailout to the U.S. taxpayer is already rapidly approaching $5 trillion, over seven times as much as the meaningless $700 billion bailout bill figure. Analysts have previously marked out the $5 trillion fi
A stock market as difficult to fathom as it is volatile pulled off another stunning U-turn on Thursday, transforming a 380-point loss for the Dow Jones industrials into a 401-point gain. Was it the government's bailout beginning to have an effect
Mark Zandi proves once again that he is clueless when it comes to nature of the Bailout and day of reckoning our economy will soon face.
It sounds like the banks that still own Chrysler pier loans are pushing this deal. (Pier loans are bridge loans that couldn't be sold).
This was no social call, even though Clinton likes McCain enough to keeps his photo on the wall of her Senate office. The GOP nominee had already chatted with Bill Clinton and wanted to pick the senator’s brain
[Election time] Social Security benefits for 50 million people will go up 5.8 % next year, the largest increase in more than a quarter century. The increase will start in January, will mean an additional $63 per month for the average retiree.
Introduction of the Federal Reserve in 1913 - In 1933, President Roosevelt made it illegal for US citizens to own gold - The Bretton Woods Agreement - Pres. Nixon reneged on the Bretton Woods Agreement in 1971 and "closed the gold window"
Every region posted declines in builder confidence in October, with four-point declines recorded in the Northeast and South, to 17 and 16, respectively, a three-point decline to 10 registered for the West, and a one-point decline to 14 posted in the
DALLAS - Southwest Airlines Co. lost money for the first time in 17 years as falling oil prices forced the company to write down the value of its fabled fuel-hedging transactions in the third quarter.
Gold could still hit $US1000 by the end of this year due to a disconnect between record demand for physical bullion products and weaker gold futures on long liquidation