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Inside The Meltdown
Don't Miss This Video By PBS
On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. "There was literally a pause in that room where the oxygen left," says Sen. Christopher Dodd (D-Conn.) Continue
We Can't Make It Here Anymore
By James McMurtry - Video and Text
Will work for food
Will die for oil
Will kill for power and to us the spoils
The billionaires get to pay less tax
The working poor get to fall through the cracks
Let 'em eat jellybeans let 'em eat cake
Let 'em eat sh$%, whatever it takes
They can join the Air Force, or join the Corps
If they can't make it here anymore. Continue
Paris aid package calms Guadeloupe: Hundreds of police reinforcements were deployed from mainland France after a labour activist was shot dead late on Tuesday near a barricade in Pointe-a-Pitre.
UK resident to leave Guantanamo Bay: The United States has agreed to release Binyam Mohamed, a British resident held at the prison camp at Guantanamo Bay for the past five years without charge, Britain's foreign ministry has said.
Report: Over 100,000 deportees had children in US: An investigation by the Homeland Security Department inspector general found immigration officials deported 108,434 parents with children who are U.S. citizens during 1998 to 2007. A report on the investigation was made public Friday.
GM shares hit 74-year low: General Motors Corp. shares on Friday tumbled to their lowest level in more than 70 years, pulled down by a drop in the broader markets and continued speculation about the future of the struggling automaker.
Saab Seeks Protection From Creditors as GM Pulls Out: Saab Automobile sought protection from creditors after parent General Motors Corp. said it will cut ties with the Swedish carmaker following two decades of losses.
US bank stocks fall to 17-year low: US banking shares hit their lowest level since 1992 on Thursday as fears mounted that the government would be forced to nationalise a key institution.
Fed offers bleak economic outlook: The Federal Reserve cut its economic outlook for 2009 on Wednesday and warned that the United States economy would face an "unusually gradual and prolonged" period of recovery as the country struggles to climb out of a deep global downturn
California Prepares To Eliminate 10,000 Jobs: Tax revenues have plunged by billions of dollars as the recession clobbers California, leaving the state without sufficient cash to pay its bills. The remedy offered by the governor and lawmakers is to reopen the budget in the middle of the fiscal year, enact deep cuts and tax increases, and work out a fix that will cover the state's spending through June 2010.
Court's 'rocket docket' blasts through foreclosures: As the Obama administration unveiled its plan to rescue the U.S. housing market, officials in Lee County have come up with their own plan for dealing with the crisis. To clear a huge backlog of foreclosures, judges are hearing "rocket dockets" of nearly 1,000 cases per day and calling retired colleagues back to the bench to help ease the workload.
Plan: $10 tax to file on paper: Fee proposed for state income taxes returns not filed electronically draws protests
J.C. Penney reports 51 percent slide in 4Q profit: J.C. Penney Co. reported a 51 percent drop in fourth-quarter profit Friday as customers sharply cut spending on clothing and other items. The results beat Wall Street expectations, but the chain projected a wider first-quarter loss than analysts had predicte
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