Life the Universe and ....: More economic issues

FEDS MAY END UP OWNING CITIGROUP...Michael Moore: Goodbye, GM... Ralph Nader: 'For GM's voiceless owners -- the common shareholders -- it is a wipeout'...Geithner tells China its dollar assets are safe...World Bank President Calls Stimulus Measures 'Sugar High,' Says Unemployment Will Rise...CHRYSLER bankruptcy judge pressured by White House to rule?A new GM begins to emerge... The 31-Year-Old in Charge of Dismantling... ROMNEY TO OBAMA: Give GM Back To The People...

Goodbye, GM

By Michael Moore

As I sit here in GM's birthplace, Flint, Michigan, I am surrounded by friends and family who are filled with anxiety about what will happen to them and to the town. Forty percent of the homes and businesses in the city have been abandoned. Imagine what it would be like if you lived in a city where almost every other house is empty. What would be your state of mind? Continue

Anglo Irish Bank gets €4bn lifeline after Ireland's worst ever loss: The Irish government is injecting up to €4bn (£3.5bn) into the nationalised Anglo Irish Bank, which reported the worst loss in Irish history today and risked becoming a threat to the system.

Your Share of the US Debt: Your family’s share of the government debt is now over half a million dollars. A record $546,668, to be exact. That cheery Monday stat comes courtesy of a USA Today study, which claims that each American family’s share rose 12% in 2008. That’s $55,000 in new government debt last year for every US household – thousands more than the median household annual income. Here’s how it breaks down:

US Government takes 60% of GM in Chapter 11 bond deal: The United Auto Workers (UAW) union will take 17.5 per cent in shares and the governments of Canada and Ontario will lend $9.5 billion (£5.9 billion) and get 12 per cent equity and $1.7 billion debt in return. The US Government will provide an additional $30 billion in financing to get the giant through bankruptcy.

Crisis at the VA as Benefits Claims Backlog Nearly Tops One Million: - During the past four months, the Department of Veterans Affairs backlog of unfinished disability claims from grew by more than 100,000, adding to an already mountainous backlog that is now close to topping one million.

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