Bailouts
Economists Warn Another Financial Crisis On the Way
Even as many Americans still struggle to recover from the country’s worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.
In the report, the panel, that […]
GENERATION ZERO (Must See Movie - Financial meltdown and who is behind the $700B bailout)
You need to a flashplayer enabled browser to view this YouTube video
The current economic crisis is not a failure of capitalism, but a failure of culture. Generation Zero explores the cultural roots of the global financial meltdown - beginning with the narcissism of the 1960’s, spreading like a virus through the self-indulgent 90’s, and exploding […]
Next in Line for a Bailout: Social Security (Wake Up America, Vote a Good Change, Not for a Socialist)
Don’t look now. But even as the bank bailout is winding down, another huge bailout is starting, this time for the Social Security system.
A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on benefits.
Instead of helping […]
U.S. to Lose $400 Billion on Fannie, Freddie, Wallison Says (This is really sad - What’s America turning into?)
Links Only
Read the whole story at Bloomberg.com
Welcome to Obama Land:Tax Payers Owned GMAC, to get $3.5 billion in added aid from government
The U.S. is injecting another $3.8 billion into GMAC Financial Services to help cover mortgage losses, in a bailout that makes the government the majority owner of the auto and home finance company.
GMAC said after the capital infusion it does not expect to record more major losses from its mortgage lending unit, which should help […]
Obama Stimulus 2.0:New $6,500 tax credit for homeowners who have lived in their current home for at least five years
Senator Harry Reid, the Nevada Democrat and majority leader, said he expects the Senate this week to approve an extra 14 weeks of unemployment aid for those who have exhausted their benefits. People out of work in states where the unemployment rate is more than 8.5 percent would get up to 20 weeks.
In addition to […]
Ford Posts an Unexpected Profit of $997 Million (The only US car company that did not receive Obama bailout)
Ford has been having more success than its cross-town rivals at attracting customers, and its newest vehicles are winning commendations from third-party sources like the magazine Consumer Reports, which last week declared Ford’s quality to be “as dependable — or better than — some of the industry’s best.”
The company’s sales in the United States are […]
Administration plans big pay cuts at bailout firms… Salaries of top executives by 90%…
The seven companies that received the biggest bailouts are expected to cut the salaries of their 25 best-paid executives by an average of about 90 percent from last year.
(Excerpt) Read more at nytimes.com …
Terrorist Getting Bailout Loan:Al Qaeda operative had $50k in unsecured loans from bailout banks
Al Qaeda operative had $50k in unsecured loans from bailout banks
This story comes from Karl Denninger at Market Ticker. It seems the admitted Afghan Al-Qaeda operative currently being questioned by the FBI for a possible attack against NY targets, Najibullah Zazi, had obtained unsecured credit cards amounting to $50,000 by the time he declared bankruptcy […]
Obama says U.S. in very deep recession — will take considerable time to recover…
Barack Hussein Obama says the United States is in a deep recession …it will take considerable time to recover