Economy

Markets slammed by Lehman collapse

September 16, 2008

US stocks were slammed on Monday after a stunning upheaval on the Wall Street landscape. The Dow Jones fell more than 504 points or 4.42 percent, the largest one-day drop since September 2001. This as investors reacted badly to a shake-up of the financial industry that took out two storied names: Lehman Brothers Holdings Inc.…

US mortgage giants nationalized

September 9, 2008

Federal government nationalizes troubled mortgage giants Fannie Mae and Freddie Mac becoming one of the biggest players in the US Mortgage Market. Many private analysts worry that it may not be enough to stabilize the slumping housing market, given the glut of vacant homes for sale, rising foreclosures, rising unemployment and weak consumer confidence. Ron…

Wal-Mart: Political bully

August 15, 2008

What will real economic change look like?

August 1, 2008

The new US national deficit numbers announced on Monday, a record high, were the latest sign of an economy in decline, with foreclosures rising, home prices falling, soaring energy prices and nearly a half-million jobs lost since January. Democratic presidential hopeful Barack Obama, met with more than a dozen economic advisers in Washington, DC. Obama’s…

Super-Rich tax cheats

July 28, 2008

Are auto jobs lost forever?

July 27, 2008
Why can’t North American cars compete; and why should workers bear the brunt from lack of planning?

Congress helps banks, but what about homeowners?

July 25, 2008
Danny Schechter: "This is a 50-state Katrina"

Danny Schechter

July 25, 2008
Danny Schechter: "This is a 50-state Katrina"