February 22, 2009
By FRANK RICH
AND so on the 29th day of his presidency, Barack Obama signed the stimulus bill. But the earth did not move. The Dow Jones fell almost 300 points. G.M. and Chrysler together asked taxpayers for another $21.6 billion and announced another 50,000 layoffs. The latest alleged mini-Madoff, R. Allen Stanford, [...]
The House has passed an $819 billion stimulus package, marking one of the most expensive pieces of legislation ever to move through Congress. Not a single Republican voted for the bill. We speak to William Greider, national affairs correspondent for The
William Greider, National affairs correspondent for The Nation magazine. He is the author of several books, including The Soul of Capitalism: Opening Paths to a Moral Economy and One World, Ready or Not: The Manic Logic of Global Capitalism. His forthcoming book is called Come Home, America: The Rise and Fall (and Redeeming Promise) of Our Country.
ecause of the increasing severity of the economic crisis and because the banks have been given billions of taxpayer dollars but still refuse to lend money, we in the Workers’ Emergency Recovery Campaign believe the question of nationalization should be thoroughly discussed and debated. Many prominent economists are arguing that the banks can only be saved if they are nationalized. But if they are nationalized, that step raises additional questions: Why should they return to private hands if the governmen’s expertise is required to save them?