Bailout

Treasury Weighs Action on Mortgage Rates

Posted by Jeff from Washington Post

Two months too late, not a moment too soon: The Treasury Department is strongly considering a plan to intervene directly in the mortgage industry to dramatically force down rates and stimulate the moribund housing market, according to sources familiar with the proposal.

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If Detroit Fails, What about the pensions? | The Agonist

Posted by Villagenyc from Agonist

There is another side that must be addressed with some sort of legislative mandate because if the auto world of Detroit is allowed to fail and sink behind the veil of protection that bankruptcy provides, the potential for great human tragedy becomes increasingly real for large groups of vulnerable Americans unless laws protecting pensions are fully protected.

FROM The Agonist

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Paulson: Troubled assets won't be purchased

Posted by Jeff from MSNBC

The government has abandoned the original centerpiece of its $700 billion rescue effort for the financial system and will not use the money to purchase troubled bank assets. Treasury Secretary Henry Paulson said Wednesday that the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending.

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Bailout Expands to Insurers

Posted by Damianmann from Washington Post

The Treasury Department is dramatically expanding the scope of its bailout of the financial system with a plan to take ownership stakes in the nation's insurance companies, signaling new concerns about a sector of the economy whose troubles until now have been overshadowed by the banking industry, government and industry sources said.

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Fannie, Freddie's stealth campaign

Posted by thaimat from Yahoo News!

McCain's campaign manager worked for firm that spent millions to fight against government regulation that might have prevented financial giants' collapse.

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Jeff Faux: Let's Buy a Bank

Posted by thaimat from Huffington Post

Secretary of the Treasury Paulson puts the Arsonists in charge of the fire department.

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After Bailout, AIG Executives Head to Exclusive Resort

Posted by Jeff

Less than a week after the federal government offered an $85 billion bailout to insurance giant AIG, the company held a week-long retreat for its executives at the luxury St. Regis Resort in Monarch Beach, Calif., running up a tab of $440,000, Rep. Henry Waxman (D-Calif.) said today at the the opening of a House committee hearing about the near-failure of the insurance giant.

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