Washington Republicans are lining up to make sure that the American taxpayer foots the bill for Puerto Rico’s debt crisis — and not the private speculators who made risky investments. Funny how fast these “fiscal conservatives” forget their distaste for bailouts when their Wall Street benefactors come knocking.
By Dmitry Zaks Kiev (AFP) – The International Monetary Fund announced on Thursday a $14-$18 billion bailout for Ukraine that requires the crisis-hit country to pursue painful and unpopular reforms to avert bankruptcy amid its escalating standoff with Russia. The vital pledge of Western support for the untested leaders who last month toppled a pro-Kremlin […]
Sometimes it seems like Republicans — and much of the press covering them — are more worried about how those scrutinizing the financial industry and the nature of the 2008 economic collapse are spending their rather small operating budgets than the big picture: the hundreds of billions doled out to the big banks. Thus the […]
New revelations about the extent of the Federal Reserve’s bailout of Wall Street have caused many to question the role of government lending programs as many fear another recession. The Fed’s $1.2 trillion loans of public money to Wall Street and foreign banks dwarf the Treasury Department’s heavily criticized $700 billion Troubled Asset Relief Program, […]
General Motors CEO Daniel Akerson recently laid out why the continued problem of unemployment could threaten successful Obama economic policies, like the bailout and rescue of GM and Chrysler. “I worry about a jobless recovery, because people who have jobs buy cars,” he told shareholders in Detroit. (The federal government still owns more than a […]