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This is an interesting clip from Reuters on Obama’s latest promises to fix the economy (but it’s also being posted to test some new LGF Blog video management tools). [Video]
Barack Obama’s economic advisers: Timothy Geithner and Lawrence Summers. CHICAGO — President Elect Barack Obama selected a Mr. Defense and a Mr. Offense for his economic team Monday, picking Timothy Geithner as Secretary of the Treasury and Lawrence Summers as director of the National Economic Council. ... The dual selection set up a ...
Another 440 point drop for the Dow index today, and the American automobile industry is headed for oblivion, as the bad financial craziness shows no sign of bottoming out.
You gotta get down before you get up, and the Dow closed at +552 points today.
Do you have a 401(k)? Are you relying on it for your retirement? Well, watch out, because the Democrats want to get their fingers into it: House Democrats Contemplate Abolishing 401(k) Tax Breaks.
Dow average down nearly 500 as we write... below 9,000 again.
What’s left to say but “ugh.” Stocks See Near-Record Decline on Retail Sales, Investor Jitters. Hopes that stocks would hold on to Monday’s massive gains faded quickly today as the Dow Jones industrial average dived more than 700 points, the second-largest point decline on record.
The Dow index has not climbed any more after yesterday’s wild ascent; it’s holding pretty much even today. And the government will be buying shares in several top banks to ease the credit crunch. Is that a good idea? [Poll]
At 4 pm ET, the Dow index is up more than 900 points, for one of the biggest percentage gains in history. The question now is, will it stay there or will the yo-yo swing back down tomorrow?
The Cleveland Leader has a series of posts tracking the Obama campaign’s lies and evasions about the candidate’s long history of connections with ACORN, and their attempts to quietly edit the Obama website as more information leaks out: Obama Campaign Involved in More Cover-Ups in ACORN Scandal. Wikileaks.org has an ...
Election 2008, Barack Obama, Acorn, Finance, Economy, Community Organizers
Good grief. The Dow plunged more than 700 points earlier, and now it’s rebounded all the way into positive territory.
Another sell-off in the Asian markets, and the Dow average is about to go below 8,000...
If you thought the market was in free fall earlier this week, well... we apparently haven’t seen the bottom yet. The Dow is at -629 as we write, lowest point since 2003...
As we write, the Dow index is down more than 700 points. We’re in free fall, as the effects of a worldwide sell-off ravage the markets.
A great piece by Michael Malone at PJ Media: The End Of An Era. Living out here in Silicon Valley, the heartland of American innovation, it’s hard not to be appalled by the events taking place 3,000 miles away in the seats of American finance and government - and ...
The House of Representatives is voting for the cosmetically revised financial bailout bill right now, with about 14 minutes remaining... UPDATE at 10/3/08 10:22:58 am: There it goes — the bill has passed.
The Senate has passed the bailout bill (I refuse to call it a “rescue”). Now it goes back to the House.
Zombie has a good post on another group of community organizers that has so far flown pretty much under the radar: The Greenlining Institute: Does the financial crisis have its origins in Berkeley?
Economy, Finance, Business, Financial Crisis, Greenlining Institute
George Soros to the rescue? Instead of just purchasing troubled assets the bulk of the funds ought to be used to recapitalise the banking system. Funds injected at the equity level are more high-powered than funds used at the balance sheet level by a minimal factor of twelve - ...
As the Dow index hovers at around -600, with over a billion transactions recorded, here’s a Black Monday open thread.
It looks like the bailout bill will not pass the House, and the Dow dropped more than 600 points on the news. It’s recovering now, and is down about 400 as we write. The bill needs 217 votes to pass, and the vote is 207 yea, 226 nay with 0:00 ...
Stanley Kurtz is digging into Barack Obama’s connections to ACORN, and ACORN’s part in the financial meltdown: O’s Dangerous Pals. WHAT exactly does a “community organizer” do? Barack Obama’s rise has left many Americans asking themselves that question. Here’s a big part of the answer: Community organizers intimidate banks ...
Election 2008, Barack Obama, Acorn, Finance, Economy, Community Organizers
You won’t believe where that $700-billion bailout figure came from. You know where that very important $700-billion figure came from? Here’s a quote from that Forbes story: “It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large ...
A new Bill Whittle piece in the National Review: Pain.