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Obama Overhaul of Finance Rules May Lead to Clash With Industry - BloombergNow that Barack Obama has won the White House, his campaign to overhaul a financial industry imperiled by its worst crisis in seven decades begins. The president-elect has vowed a top-to-bottom examination, focusing on everything from the retail mortgage system to the capital requirements for ...
Giorgio Bertini
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13 months ago
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Struggling Lower-Class Still Unsure How Best To Fuck Selves With Vote | The Onion - America's Finest News SourceWASHINGTON—As election day nears, millions of the nation's poorest voters have reportedly yet to settle on the most profound and enduring...
socratoad
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13 months ago
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A Look At Wall Street's Shadow Market - How Credit Default Swaps and NOT "Deadbeat" Mortgage Holders Are Torpedoing The World's EconomiesIt began with a terrible bet that was magnified by reckless borrowing, complex securities, and a vast, unregulated shadow market worth nearly $60 trillion that hid the risks until it was too late to do anything about them. With its clients clamoring for safe investments with above average ...
JDP
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14 months ago
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The Bailout Defeat: A Political Credibility Crisis - TIMEThere was a lack of trust, a loss of confidence, a popular revolt. Nearly every major political leader in America supported the $700 billion financial bailout bill. The President of the United States. The Vice President. The Treasury Secretary. The Chairman of the Federal Reserve. The Chairman ...
JDP
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14 months ago
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McCain takes hit from bailout collapse - CNN.comThe House's failure to pass a $700 billion bailout package Monday not only held back billions for Wall Street, but also was a major blow to Sen. John McCain's presidential campaign."Even before the House vote, voters blamed Republicans more than Democrats for the crisis. Then McCain suspended ...
JDP
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14 months ago
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Congress Has 43,457,362 Reasons to Help Goldman SachsThe embattled Goldman Sachs investment banking firm and its employees have spent more than $43 million dollars on lobbying and campaign contributions to cultivate friends and buy influence in Washington, D.C. since 1989, according to an ABC News analysis of campaign finance records compiled by ...
JDP
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14 months ago
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Plan’s Basic Mystery - What’s All This Stuff Worth? - NYTimesWhat would you pay, sight unseen, for a house that nobody wants, on a hard-luck street where no houses are selling? That question is easy compared to the one confronting the Treasury Department as Washington works toward a vast bailout of financial institutions. Treasury Secretary Henry M. ...
Giorgio Bertini
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15 months ago
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How We Became the United States of France - TIMEThis is the state of our great republic: We've nationalized the financial system, taking control from Wall Street bankers we no longer trust. We're about to quasi-nationalize the Detroit auto companies via massive loans because they're a source of American pride, and too many jobs — and votes — ...
JDP
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15 months ago
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McCain on U.S. economy: From 'strong' to 'total crisis' in 36 hours - International Herald TribuneOn Monday morning, as Wall Street was absorbing one of the biggest shocks to the financial system in generations, Senator John McCain said he believed the fundamentals of the U.S. economy were "strong." Hours later he backpedaled, explaining that he meant that American workers, the backbone of ...
JDP
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15 months ago
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Obama has 2-point lead on McCain: Reuters poll | ReutersWASHINGTON (Reuters) - Democrat Barack Obama has a 2-point lead in the U.S. presidential race on Republican John McCain, whose choice of Sarah Palin as his running mate helped shore up support for both
ben
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15 months ago
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