Search

The article profiles U.S. Senator Elizabeth Warren, focusing on her efforts to reform the U.S. financial industry. Topics include the legislation she has proposed that would have the U.S. government lower the interest rate for student loans to 0.75%, the rate the Federal Reserve offers to banks; Warren's previous work as the chairperson of the U.S. Congressional Oversight Panel investigating the 2009 government bailouts; and the disproportionate effect of the 2008 global financial crisis on racial minorities, the working poor, and the less-educated.

The article discusses the political campaign of the millionaire investor, U.S. Republican, and presidential candidate for the 2012 U.S. election, Mitt Romney, with a focus on Romney's opposition to the U.S. government bailout of the automobile industry in 2009. Topics include hedge funds which profited from the automobile bailout, including Elliott Management, directed by Paul Singer; Singer's contributions to Romney's campaign; and Singer's investments in distressed firms and debt-laden countries, known as vulture investing. The financial history of the automobile company Delphi Automotive is also examined. INSET: Mr. Singer and Mr. Ryan.

The article discusses mortgage crises in euro-zone countries such as Spain and Ireland where collapsed housing markets have caused foreclosures to rise sharply. Spain and Ireland are among nations that do not permit homeowners to engage in "strategic defaults" that rid them of debt. It is noted that bailouts in the euro zone have largely benefited banks rather than homeowners.

In this article the author discusses the bank bailout measures undertaken by the U.S. government in response to the global financial crisis of 2008-09. The central focus of the article is explaining the features of the program in home economics terms, creating a fictional middle class couple who were recipients of government money.

The author discusses the importance of fixing the U.S. Federal Reserve (Fed) in order to improve the U.S. financial system. The article discusses the futility of the U.S. banking system bailout, and how politically unpopular this type of expenditure is. The author discusses how the Fed was affected by years of deregulation, and describes the necessary steps that will allow the Fed to regain its power to control the credit system and right the financial crisis.

The author suggests that the U.S. clear up its banking crisis by nationalizing its banking system, and defines that crisis as one caused by behavior that has left most banks on the verge of bankruptcy. The author suggests that banks should pay for the bailout costs they've imposed on U.S. citizens, and that while the banks should be saved from bankruptcy, the bankers and shareholders should not.

The author discusses the U.S. government's need to demand a rigorous Green New Deal in the event of a new financial crisis bailout request by Wall Street as of 2019. Topics covered include the government's missed opportunity during the 2008 financial crisis, and the need for future bailout recipients to be subjected to strict carbon audits on their projects. Also noted is its application if the transportation sector push for affordable public transit networks.

The article discusses the stock exchange crash at Dow Jones Industrial Average on 28 October 1997. As compared to 1929 crisis, when stocks lost nearly 25 percent in back-to-back crashes, this time the market recovered nearly two-thirds of its losses the next day. It was hard to work up much nervousness in a world of government bailouts and indulgent central banks, crashes never turn into panics or depressions. Instead of a rout running its course, regulators say soothing things and corporations announce big plans to buy their own stock to support its price. It's no wonder investors expect surreal, sustained returns. When the market falls, what else is there to do but buy with both hands?

Focuses on the impact of the bailout of the automobile company, Chrysler Corp. on the automobile market in the U.S. as of September 12, 1981. Name of the persons who are involved in the bailout of the company; Reason for the necessity of the bailout; Total amount of money that the federal government will be giving to rescue Chrysler Corp.

In this article, part of a special series in the magazine devoted to the issue of inequality in the United States and what can be done about it, the author cites the turmoil in the housing market as the primary cause of the financial crisis in the United States. He examines a number of issues including the large banking and financial services industry bailouts provided by the government, the $1 trillion in demand created by the expansion of the housing market, and the inadequacy of the stimulus plan introduced by the administration of U.S. president Barack Obama.

In this article the author comments on efforts to reform the banking and financial services industry undertaken by U.S. president Barack Obama. The author is of the opinion that the measures enacted by the U.S. congress do not amount to reform and imposed little financial change. Examined are a number of provisions of the legislation including the formation of the Consumer Financial Protection Agency, the weakening of stronger regulation of derivative securities, and the fact that U.S. tax payers are still liable for bank bailouts.

In this article the author considers an aspect of the economic crisis afflicting the U.S. automobile industry, current in May 2009. Central to the article is an examination of efforts by the administration of U.S. president Barack Obama to aid the industry through government support and bailouts. Also considered is the impact the collapse of the industry would have on the U.S. working class.

The author discusses how U.S. President Franklin D. Roosevelt handled the 1932 financial crisis and the importance that U.S. President-elect Barack Obama act decisively to handle the crisis facing him in 2009. The author discusses the two crises and how Roosevelt restarted the banking system and instituted the U.S. Civilian Conservation Corps. The author states that Obama must bail out the bankers with a bold economic recovery package, and be able to work with the U.S. Congress.

The author suggests that allowing the U.S. automakers General Motors, Chrysler, and Ford to go bankrupt would be unwise, and that a bailout program with systemic reforms could be the best option. These reforms could include a New Deal-type jobs program, infrastructure projects, and the creation of a universal healthcare system. The author states that a automaker bankruptcy should not be used to demean the United Automobile Workers of America or labor unions themselves.

The article announces that the work of economist Hyman Minsky has come back into vogue because of the U.S. financial crisis. Minsky was a post-Keynesian economist who explained financial crises as being caused by free-market capitalism and economists like Milton Friedman who were anti-regulation. Minsky wrote that nonregulated markets produced instability, that investors will take on great risks until the markets crash, and that bailouts are ineffective over time.

The article discusses the way that the voter registration organization ACORN has been blamed for voter fraud, banking industry irresponsibility, and the 2008 U.S. financial crisis. The author states that the "Wall Street Journal" accused ACORN of promoting the Community Reinvestment Act which helped usher in the subprime loans scandal, and of trying to create a trust fund from the U.S. bailout bill.

This article discusses the potential impact of the U.S. federal government's decisions to bailout financial companies and banks. The author claims that such bailouts could create a bigger problem for producers and consumers, may lead to a a powerful corporate state, and may not even succeed in rescuing the financial industry.

As US deaths from the coronavirus soared past 2,000 and skyrocketing unemployment claims crashed state websites, Congress passed the largest economic emergency package in history. Pelosi let Republican senators drive the debate, putting Senate Democrats in the impossible position of delaying help to the American people in order to gain sensible concessions. While the GOP controls the Senate and the White House, Wall Street effectively controls the Fed, which, with its power to create and distribute money, is surely the most powerful institution in a fiscal crisis. [Extracted from the article]

An airline industry trade organization has already asked for nearly $60 billion. But hotels must also keep employees on their payrolls if they get taxpayer funds - and hotel workers also deserve a $15 minimum hourly wage, benefits, and humane schedules. Instead of showering cash on politically connected companies - our president, of course, once owned casinos and still owns hotels - the federal government needs to seriously consider which industries are vital to the continued functioning of our economy. [Extracted from the article]

The new farm bill that U.S. President, Ronald Reagan signed on December 23, 1985 seeks to reduce farm prices in an effort to make the U.S. products more competitive overseas. According to the Food and Agriculture Policy Research Institute in Missouri, the law will reduce farm income by 23 percent. The Farm Credit System bailout bill that Reagan signed the same day will also do little to still the growing insurgency against the system's lending and foreclosure policies, and its plans to centralize its local associations. Many farmers feel the system has been more interested in saving itself than in helping them, and the bailout does nothing to dispel this impression. The new law provides scant direct aid to strapped farmers and only a modest borrowers' bill of rights, including the right of a farmer to examine his own loan file.

In 1988, the U.S. Nuclear Regulatory Commission mandated that utility companies put money in trust for the day when their nuclear plants end their active lives and are decommissioned. Seven years later those trusts, says Harvey Wasserman of Greenpeace, are in catastrophic condition. Wasserman and other industry critics estimate that the trusts' eventual shortfall will be at least $25 billion. This presages a financial debacle for the next generation if the public is forced to pick up the bill, as could well happen, in a replay of the bailout eighties. To date, only one of the nation's 110 nuclear power plants has been completely decommissioned, so at this stage most figures are estimates.

The author presents her thoughts on the European Union's efforts to stabilize the Greek economy based on a bailout and the subsequent refusal by the Greek population. She goes on to criticize Greek Prime Minister Alexis Tsipras' plans to establish more austerity measures, suggesting that the country accept the offer proposed by Germany and other countries.

The author discusses the International Monetary Fund (IMF)'s conditions for financial assistance to the country of Cyprus in 2013, with information on the failure of the Cypriot banks, Laiki and the Bank of Cyprus. Topics include the effect of an IMF-imposed tax on savings on the country's economy, the negotiation of a bailout agreement with the European Union (EU) and the IMF, and the political aspects of Turkish and Greek influence on the island.

Several letters to the editor are presented in response to articles in previous issues including "Mitt Romney's Bailout Bonanza" by Greg Palast in the November 5, 2012 issue about the U.S. finance industry's use of government bailout money, "Presidential Politricks" by Doug Henwood in the November 5, 2012 issue about third party candidates, and "A Way Out of Syria's Catastrophe" by Jonathan Steele in the October 15, 2012 issue.

In this article the author comments on an American populist movements to establish state banks in response to the U.S. government bailout of federal banks at risk of failing amidst the global financial crisis. He points to politicians including Oregon Democratic gubernatorial candidate Bill Bradbury, Illinois Green Party gubernatorial nominee Rich Whitney, and Massachusetts Senate president Therese Murray as among those who support the creation of state-owned banks.

In this article the author discusses efforts to regulate executive compensation among corporations that took U.S. government bailout money to offset losses they incurred as a result of the global financial crisis of 2008-09. Among other issues the author focuses on large bonus payments that will be made to executives when the crisis passes.

In this editorial the author comments on the government bailout of General Motors, an automobile manufacturer, by the administration of U.S. president Barack Obama. The author suggests that the government assistance to the company was meant to help investors rather than to assist workers in allowing them to remain employed.

In this article the author comments on measures undertaken by the administration of U.S. president Barack Obama to aid the banking industry during the 2009 financial crisis and recession. Among other issues the author asserts that U.S. banks and other financial services organization are using federal bailout funds improperly. In addition he states that the government is not firm enough with the financial institutions it has assisted.

The article discusses how U.S. Vice President Joe Biden has placed himself inside the U.S. economic policy debates by chairing the U.S. White House Task Force on Middle Class Working Families. The author separates U.S. President Barack Obama's economic advisers between neoliberals like Tim Geithner and Larry Summers and progressive liberals like Biden, Melody Barnes, and Jared Bernstein. The article states that Summers' bailout policies are winning out over those of bank nationalization.

The article offers commentary on the decisions U.S. President-elect Barack Obama needs to make to deal with the U.S. financial crisis, and discusses the major obstacles to this reform which include the size of the bailout and his economic stimulus package, the possibility of nationalizing the U.S. banking system, and the reforms needed to stabilize the world economy. The author discusses the obstacles to reform caused by the dysfunctional U.S. economy and the problems caused by globalization.

The article offers commentary on U.S. Treasury Secretary Henry Paulson's institution of the U.S. Troubled Asset Relief Program (TARP), the panel created to monitor the bailout, and the December 10, 2008 report the panel released "Questions About the $700 Billion Emergency Economic Stabilization Funds." The author states that the TARP bailouts should be made transparent, as well as should the relations between the U.S. Treasury, the U.S. Federal Reserve, and Wall Street banks.

The article offers commentary on U.S. President-elect Barack Obama's study of U.S. President Franklin D. Roosevelt, and on how Obama will react to labor unrest. The author describes a sit-down strike by United Electrical Workers Local 1110 in Chicago, Illinois at a Republic Windows and Doors Inc. factory. The author states that this move demonstrates a flaw in the U.S. bailout plan, which is that banks such as Bank of America could be mis-managing bailout funds.

Several letters to the editor are presented in response to articles from past issues such as "We're All Minskyites Now," "Wanted: A Climate Bailout," and "The Road to Socialism?" from the November 17, 2008 issue.

The article offers commentary on the U.S. bailout plan, stating that the plan didn't fail because of U.S. Treasury Secretary Henry Paulson's actions, but because it wasn't a good plan. The author emphasizes that the bank assets are bad, and the U.S. financial system is broken. The author suggests that U.S. President-elect Barack Obama declare a bank holiday similar to U.S. President Franklin D. Roosevelt's in 1933, and nationalize the banking system.

The article offers commentary on the U.S. financial crisis, and the speed with which the U.S. government and the media reacted to the crisis. The author questions when will the same people react to the climate crisis which, the author states, is a greater emergency than the financial one. The author discusses the historical tipping points of the climate crisis, including the 1988 report by scientist James Hansen about man-made global warming, and states the need for a U.S. climate rescue plan.

Several letters to the editor are presented in response to articles from past issues, such as "Change We Can Believe In: Open Letter to Barack Obama," from the August 18, 2008 issue, "Bailout Nation," from the October 13 issue, and "Breaking Glass-Steagall," from the November 15, 1999 issue.

The author of the article offers commentary on the 2008 U.S. financial crisis, and the proposed legislation to bail out Wall Street corporate interests, stating that U.S. Treasury Secretary Henry Paulson and U.S. Federal Reserve chairman Ben Bernanke's bailout plan is expensive and likely to fail. The author suggests the U.S. government borrow a New Deal tactic which was to send bank examiners to each financial institution and only bail out the ones likely to prosper again.

The author of the article offers commentary on the 2008 U.S. financial crisis, and the proposed legislation to bail out Wall Street corporate interests, criticizing how the interests of U.S. working families are being ignored in the crisis. The author offers a list of guidelines for the U.S. government concerning the interests of working families, including helping homeowners stay in their homes, rebuilding the U.S. economy with unemployment benefits, and the creation of jobs.

The author of the article offers commentary on the 2008 U.S. financial crisis, and the proposed legislation to bail out Wall Street corporate interests, criticizing the influence U.S. Treasury Secretary Henry Paulson has exerted in order to shift the economic risk of the crisis from Wall Street firms to the U.S. government. The article follows the career of Goldman Sachs & Co. co-president John Thain to illustrate how he received golden parachutes from several firms.

The author of the article discusses the U.S. government bailout of the financial crisis, covering the U.S.'s economic history since World War II and the various crises suffered since then. The article discusses how the 2008 U.S. financial crisis is linked to the growing disparity in incomes, since the housing bubble caused people to draw equity out of their homes at a record rate to make up for slowing income rates.

The author offers opinions on U.S. government policy towards the financial crisis created by the fall in housing prices. The bailout engineered by the U.S. Federal Reserve Board for the financial services firm Bear Stearns is contrasted with a relative lack of relief for homeowners whose mortgage loans are now worth more than their homes' value. A vigorous effort to mitigate their distress is urged.

The author offers opinions on the efforts of the U.S. Federal Reserve Board to manage the financial crisis created by the fall in housing prices. A double standard is seen. The board has taken unprecedented steps to rescue financial service firms in difficulty without requiring anything in return. At the same time, homeowners faced with the same crisis said to be receiving little or no help.

The article discusses the omnibus bill passed by the U.S. Congress at the end of 2014, focusing on the elimination of a provision of the Dodd-Frank bill that protected taxpayers from big banks' risky behavior, and money paid by large banks to politicians' campaign funds for the bill.

The article discusses the mood of the general public in the U.S.. examining and describing the populist rage being expressed at the crimes of rich people. The symbolism of the U.S. government essentially handing over huge sums to wealthy people who have made mistakes is a teachable moment, the article indicates.

The author reflects on the policies of U.S. Treasury Secretary Timothy Geithner, suggesting that the bailout monies being spent on the U.S. banking industry are merely reinforcing the behavior of those that caused a financial crisis. The plan for the U.S. government to purchase $2 trillion in toxic assets, announced in the midst of populist rage over AIG's executive bonuses, is also discussed.

The article reports that U.S. Congresswoman Marcy Kaptur has joined the U.S. House of Representatives House Populist Caucus. U.S. Congressman Lloyd Doggett from the House Budget Committee has also joined the caucus, stating that the U.S. public deserves more accountability and transparency. Both Kaptur and Doggett opposed the U.S. banking bailout program.

A correction to the article "A Bank Bailout That Works," from the March 23, 2009 issue, is presented.

The article states that investment banker Ron Bloom of the Steelworkers Union has been picked to advise U.S. Treasury officials on the automobile industry bailout. The article describes how Bloom criticized then-U.S. Treasury Secretary Henry Paulson's handling of the U.S. banking industry bailout, and how he will be advising U.S. officials such as Tim Geithner and Larry Summers.

The author discusses the December 2008 filibustering of the bailout plan intended for U.S. automakers which was instituted by U.S. Congressmen Bob Corker, Mitch McConnell, and Richard Shelby in order to contain United Auto Workers (UAW) demands. The author disagrees with the Congressmen's argument that the UAW should lower wages, and questions why their argument wasn't presented regarding the banking industry bailout. The author suggests cutting chief executive officers' pay instead.

The author discusses the eagerness of the U.S. government to offer a bailout plan to the U.S. banking industry but the reluctance to bail out the unionized automobile industry. The article suggests that the U.S. financial crisis is being used to control the automobile industry's labor unions, and as a result, the entire U.S. labor movement. The author emphasizes the need for sane manufacturing and housing policies without financiers in control.