Posts Tagged ‘bailout’

Joseph E. Stiglitz: Fiscal Plan Fails both Markets and Taxpayers

“Socializing losses while privatizing gains is more worrisome than the consequences of nationalizing banks.”

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Interview with Economics Prof. Jack Rasmus: “…the stimulus package: As I have stated repeatedly, it’s too little too late.”

An interview with Jack Rasmus, a professor of economics at St. Mary’s College and Santa Clara University in Northern California. Prof. Rasmus is a member of the newly formed National Steering Committee of the Workers Emergency Recovery Campaign (WERC). The interview was conducted on March 2, 2009, by Alan Benjamin, organizer for the WERC.

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Robert Kuttner and Michael Hudson on the Obama Administration’s $789 Billion Economic Stimulus Package and $2.5 Trillion Bank Recovery Plans

Part 1 of 6 of Democracy Now! presentation.
From Democracy Now February 13, 2009
Both the House and Senate are set to vote today on the $789 billion economic stimulus package. The vote follows weeks of political wrangling that culminated in compromise legislation struck on Wednesday. The final size of the package is less than what both [...]

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Trying to Revive the Bubble Economy: Obama’s Awful Financial Recovery Plan

The economy has lost the “virtual wealth” in higher-priced homes and the stock market, and must rely on after-tax earnings. But I see little concern for wage earners in the Treasury plan. Without debt relief, consumer spending and business investment will not recover.

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Union Talks Seen as Key as G.M. Makes Case for Funds

February 17, 2009
Union Talks Seen as Key as G.M. Makes Case for Funds
DETROIT — With its access to a government lifeline possibly at risk, General Motors executives were locked in intense negotiations Monday with leaders of the United Automobile Workers over ways to cut its vast bills for retiree health [...]

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Democracy Now: Economic Stimulus Moves to Senate Following House Approval Stimulus

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.

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San Francisco Labor Council Adopts Bold Plan to Confront Economic Crisis

On January 15, 2009, the San Francisco Labor Council adopted a bold program to fight the economic crisis facing workers.

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Nationalization: To Be or Not To Be? By Bill Leumer

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?

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Auto Crisis: The Nationalization Demand Is Gaining Ground

[Note: Jerry Tucker is a past International Executive Board member of the United Auto Workers' union (UAW). He is also a co-founder of the Center for Labor Renewal and is actively involved in organizing a national labor campaign for single-payer healthcare. The interview below is reprinted from Unity & Independence No. 13, February 2009.]
Question: What [...]

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Join Us in Promoting the Workers Emergency Recovery Campaign

In recent months, we have witnessed billions of dollars pumped into the financial institutions WITH NO STRINGS ATTACHED. Reckless behavior and greed have been graced with the most extravagant rewards, allowing the rich to get even richer.

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