Posts Tagged ‘Economic Crisis’
Not enough jobs are being created in the private sector to keep up with the number of new workers who are entering the labor market. According to an AFL-CIO blog (June 7, 2010), 38 percent of Americans report that either they or someone close to them has lost a job. There are officially almost 15 million Americans now out of work, mostly due to the current economic crisis. But if those who are involuntarily working part-time and if discouraged workers are taken into account, the number is much higher.
“Socializing losses while privatizing gains is more worrisome than the consequences of nationalizing banks.”
Tags: bailout, Economic Crisis, Nationalization, Obama, Stiglitz
Geithner plan will rob American taxpayers: Stiglitz
Tue Mar 24, 2009 8:26am EDT
By Susan Fenton and Deborah Kan
HONG KONG (Reuters) – The U.S. government plan to rid banks of toxic assets will rob American taxpayers by exposing them to too much risk and is unlikely to work as long as the economy remains weak, Nobel Prize-winning [...]
Tags: Economic Crisis, Geithner, Stiglitz
Treasury Secretary Timothy Geithner is preparing to unveil a plan today to purchase as much as $1 trillion in troubled mortgages and other assets from banks. The government is reaching out to hedge funds, private equity firms and sovereign wealth funds to help buy the toxic assets. The Obama administration has described the plan as a public-private partnership, but most of the actual money will be put up by the government. We speak with Nobel Prize-winning economist and New York Times columnist, Paul Krugman.
Tags: Democracy Now, Economic Crisis, Geithner, Krugman
It’s not the bonuses. It’s that AIG’s counterparties are getting paid back in full.
By Eliot Spitzer
Everybody is rushing to condemn AIG’s bonuses, but this simple scandal is obscuring the real disgrace at the insurance giant: Why are AIG’s counterparties getting paid back in full, to the tune of tens of billions of taxpayer dollars?
For the [...]
Tags: AIG, Economic Crisis, Geithner, Obama