Bush warns of 'painful and lasting' damage...
Clinton: 'Commerce Could Stop'...
McCain says Obama policies will deepen recession...
Obama says bank deposit insurance should be raised...
Financial carnage leaves Americans fearing the worst...
Senate to vote on rescue plan with added tax cut...
FDIC asks for temporary hike in $100,000 cap on insured deposits...
Euro Declines Most Against Dollar Since Inception...
The Free Market Preachers Have Long Practised State Welfare For The Rich
By George Monbiot
Any subsidies eventually given to the monster banks of Wall Street will be as American as apple pie and obesity. The sums demanded may be unprecedented, but there is nothing new about the principle: corporate welfare is a consistent feature of advanced capitalism. Only one thing has changed: Congress has been forced to confront its contradictions. Continue
An Emergency Bailout Plan That Americans Will Love
By Jonathan Tasini
24.5 percent of all Americans earn poverty wages ($9.60 or less) - 10 percent of all Americans—15 million Americans—earn $6.79 or less - 33.3 percent of African American works and 39.3 of Hispanic workers earn poverty wages. Continue
Will Wall Street's Meltdown Turn America Into a Police State?
By Scott Thill
Here is what we see today: Crowds protesting in the streets, the people's money wiped out thanks to the Bush administration's latest economic shock and awe. An army brigade matter-of-factly betraying Posse Comitatus for the purpose of crowd control. The public trust and wealth almost robbed cleanly with congressional approval. Continue
Congratulations, Corporate Crime Fighters!
Coup Averted for Three Days!
By Michael Moore
Everyone said the bill would pass. The masters of the universe were already making celebratory dinner reservations at Manhattan's finest restaurants. Personal shoppers in Dallas and Atlanta were dispatched to do the early Christmas gifting. Mad Men of Chicago and Miami were popping corks and toasting each other long before the morning latte run. Continue
Americans Have Little To Be Proud Of
By Joel S. Hirschhorn
Americans cannot vote their way out of this mess. Their only real opportunity this year is to vote AGAINST the two-party plutocracy by voting for any of the four third-party presidential candidates. We need the world to see tens of millions of votes protesting the failures of both major parties. This electoral rebellion would keep faith with Thomas Jefferson’s correct view that America would need a revolution every generation or so. Continue
Shearing The Sheeple
Fundamentals Of The Economy Are Solid...Remember?
By Rand Clifford
Regarding how fundamentally sound our economy was just weeks ago: our leaders are implying that they were either too stupid to know what has been building up for years, or they are liars. Certainly, any pleas of stupidity remain solidly backed up by actions. But even more fundamentally, these people are liars, always have been, always will be. Continue
Putin Promises $50Bln For Banks: The government will provide a further $50 billion to increase liquidity in the banking system and fight the "contagion" that has spread from the United States, Prime Minister Vladimir Putin said Monday.
Dexia bank gets $9.2B bailout from governments, shareholders: Dexia became the second Belgian bank this week to get a government and shareholder bailout Tuesday when Belgium, France and Luxembourg said they would inject almost $9.2 billion to keep it afloat.
Fed Pumps Further $630 Billion Into Financial System: The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.
You won't believe where that $700-billion bailout figure came from: Here's something that John McCain and Barack Obama and Sarah Palin and even longtime Washingtonian Joe Biden probably don't know. Not to mention Bob Barr, Ralph Nader and Ron Paul, who usually knows everything.
Let Risk-Taking Financial Institutions Fail: The bailout will involve a transfer of wealth — from the American people to financial institutions engaging in reckless speculation — that will be the greatest in history.
U.S. Moves Bails Out Auto Makers : The U.S. Congress moved Saturday to provide $25 billion in low-interest loans to the auto industry as part of an initiative to accelerate the development of fuel-efficient vehicles