Three more car companies received sizeable loans from the federal government yesterday, but don’t worry; it’s not another bailout. In fact, the$8 billion is just the start of a larger $25 billion project called the Advanced Technology Vehicles Manufacturing Loan Program (ATVM for short) that was thought up back in 2007 and funded by Congress …
This column highlights the top economic stories of the week. Last weekend, the biggest players in the health care industry announced that they would put together a cost-cutting plan to present to the Obama Administration. The expectation is that the measures will save a family of four $500 a year in the first year, and …
Bailout funds to fix the economy come at a higher cost to U.S. taxpayers. Originally, the Congressional Budget Office had projected that last year’s $700 billion Troubled Asset Relief Program (TARP) would cost taxpayers $189 billion. With the new budget thrown in for 2009 and 2010, this figure has risen to $356 billion. (Reuters) The …
For years politician have promised affordable housing. When the market delivers it, the politicians act like it’s the bubonic plaque!
Despite public outrage over AIG bonuses, Obama had a good week. He traveled across America expressing his own outrage over the bonuses. He was warmly greeted in Orange County, California — once a bastion of conservative Republicanism. Republican Governor Swarzenegger warmly embraced him and assured him that California supported the stimulus plan. Obama appeared on the Tonight Show displaying his quick wit with the show’s host Jay Leno.
The banks have been paid after all as have massive bonuses for the very AIG employees that dragged the company down. All this with bailout money!
The bailout plan is not working. This morning’s New York Times has reported that the U.S. government is facing mounting pressure to add to the bailout kitty. Should the government continue to plug the hole?
Sunday’s Financial Times has confirmed that the administration will be putting Wall Street banks through a “stress test.” The $2,000bn bank bailout plan was announced last week ahead of formal discussions with the industry’s representatives. The bailout package includes financial assistance to purchase toxic assets from banks and a guarantee to cover some of the …
President Obama has come under the radar. Publications like the Huffington Post and the Financial Times are questioning whether he has failed already. Why? Because Tim Geithner has proposed a bailout plan for zombie banks that capitalists believe should be allowed to fail.
2008 – what a year! As we get ready to draw the curtains on one of the most unsettling economic years in history, we the writers of the Inspired Economist are still wondering… was this year one that has left our battered economy begging for inspiration? Or have the sustainable events of 2008 spearheaded the initiation of what we believe is truly an Inspired Economy?
2008 was about the $700 billion bailout. Foreclosures. The plummeting stock market. As the year came to a close, the nation’s economic turmoil battled with the presidential election. But it was also a time when new businesses were born into what appears to be an unprecedented sustainability boom. When energy, economy and environment have taken on a new and inter-dependent definition.
If we dared to complain about the stratospheric price of houses, we were told, “Hey, it’s just the natural law of supply and demand!”
Under Troubled Asset Relief Program (TARP) of the U.S. Treasury, Citigroup and Goldman Sachs received $25 billion each and Bank of America received $10 billion in federal bailout funds. It has been argued that much of the the global economic meltdown was brought on by the country’s largest financial institutions. In response to the recent …
Economic Security Measures Proposed for Major Banks Read More »
The failure of Lehman Brothers is seen as the last straw that broke the credit market. The financial markets have been in a state of complete disarray ever since the U.S. Government allowed Lehman Brothers to file for bankruptcy on September 15th 2008 instead of intervening to save it, as it did with Bear Sterns …
Economy In Recession: The Cost Of Allowing Lehman Brothers to Fail Read More »
I have an issue. A problem, a concern. A nag. It’s an itch, and I just gotta scratch it. It’s this. America, the UK and Iceland have all been bailed out by the taxpayer. You see it and you hear it: “Taxpayer to pump billions of squidoos into financial system” etc. Except it’s a bald …