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President Obama's much-anticipated plan to deal with the U.S. housing crisis aims to help as many as 9 million families avoid foreclosure on their homes.
President Obama's much-anticipated plan to deal with the U.S. housing crisis aims to help as many as 9 million families avoid foreclosure on their homes, one of the root causes of the global financial meltdown.
The U.S. Congress was expected to pass a $789 billion economic stimulus package aimed at unleashing large spending and tax cuts to help yank the economy out of a 14-month recession.
US lawmakers prepared Thursday to pass a $789 billion stimulus package to revive the struggling economy in a victory for President Barack Obama that some warned may have costly consequences.
Banking leaders who benefited from a federal bailout are bringing a message of accommodation and gratitude to Congress, hoping for a better reception than the one given Treasury Secretary Timothy Geithner.
The Obama administration's financial-rescue plan contains a number of measures meant to ease the credit crunch, including a public-private initiative to take bad assets off of banks' balance sheets.
The Obama administration pushed back the announcement of a keenly awaited bank rescue plan until Tuesday as it pressed lawmakers to settle their differences over a huge economic stimulus package.
The Democratic-led Senate will try again to pass a $937 billion stimulus package aimed at boosting the battered economy as some of the worst unemployment data in decades boosted political pressure for a deal.
President Barack Obama warned that failure to act on an economic recovery package could plunge the nation into a long-lasting recession that might prove irreversible, a fresh call to a recalcitrant Congress to move quickly.
President Obama kicks off a campaign to rein in corporate compensation with rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
Wednesday night’s House tally on the Democratic stimulus package, where not a single Republican voted in favor, was another shot across the bow for this incredibly unmanageable $900 billion behemoth of a program that truly will not stimulate the economy.
Last night’s House vote on the Democratic stimulus package, where not a single Republican voted in favor, was another shot across the bow for this incredibly unmanageable $900 billion behemoth of a program that truly will not stimulate the economy.
Estimating how effective the huge program of tax cuts and spending will be in getting America’s economic engines humming again is a far more complex calculation requiring almost line-by-line scrutiny of the 647-page bill, lawmakers, the New York Times reports.
The New Deal was actually a combination of socialism and cartelization of industry with price controls and failed to stimulate growth and helped plunge the economy into the "Depression within a Depression" in 1937, says Andrew Busch.
President Obama is moving quickly to act on the environmental promises that were a centerpiece of his campaign. But tackling global warming will be far more difficult — and more costly — than the new emissions standards for automobiles he ordered with the stroke of a pen on Monday, the New York Times reports.
Since Geithner is something of a wounded warrior from the tax non-payment controversy, Team Obama’s economic policy is shifting toward a Larry Summers power-center right now.
I continue to be concerned over this effectiveness of this spending plan and the timing of the stimulus, says Andrew Busch.
The last thing we need is another master of the universe who feels like the rules of the moral code do not apply to him, says Jerry Bowyer.
With rumors swirling over a nationalization of Citigroup and serious questions being raised about the Geithner nomination, the US is in for a tough weekend, says Andrew Busch.
The House hopes to vote next week on the $825 billion package sought by President Barack Obama to help the struggling economy, House Speaker Nancy Pelosi said Thursday.