Center for American Progres SOURCE: AP/Manuel Balce Ceneta Federal Reserve Chairman Ben Bernanke, right, and Treasury Secretary Henry Paulson, testify on Capitol Hill in Washington, Sept. 24, 2008, before the House Financial Services Committee. By Andrew Jakabovics | September 25, 2008 Let’s be clear: The heart of the underlying problem now facing Wall Street is [...]
Archive for September 25th, 2008
25 Sep
10 Ways to Bail Out Wall Street (and Main Street) Without Soaking Taxpayers in Debt
By Chuck Collins and Dedrick Muhammad, AlterNet. Posted September 25, 2008. Who says we need to borrow a trillion dollars to save Wall Street from its own excesses? As Congress debates the particulars of the Bush-Paulson bailout, one key question has gone largely unexplored: Who will pay for this mess? Lawmakers in Congress appear to [...]
25 Sep
A Frightened President Tries to Scare American Public on Bailout
Huffington Post, TheNation.com. Posted September 25, 2008. Bush seeks photo opportunities with Obama and McCain; McCain’s bait and switch falls flat; Letterman mocks McCain’s cancellation. A composite of a day and night of fast-breaking news from the Huffington Post’s Jennifer Loven, The Nation’s John Nichols and David Letterman. The Speech — Jennifer Loven President Bush [...]
25 Sep
A Bailout We Don’t Need
By James K. Galbraith The Washington Post Thursday, September 25, 2008; Now that all five big investment banks — Bear Stearns, Merrill Lynch, Lehman Brothers, Goldman Sachs and Morgan Stanley — have disappeared or morphed into regular banks, a question arises. Is this bailout still necessary? The point of the bailout is to buy assets [...]
25 Sep
Palin Pushes McCain as Market Reformer
In Rare Interview, Cloistered Nominee Stumbles Trying to Provide Examples By Howard Kurtz Washington Post Staff Writer Thursday, September 25, 2008; Page A09 Alaska Gov. Sarah Palin, in her third interview since joining the Republican presidential ticket, licked her finger and stuck it in the air, saying that Sen. Barack Obama might wait and “see [...]