It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
The 2008 elections are upon us and as usual, 3rd party candidates get a pure media blackout. With the obvious corporate agenda infused in both major political parties, tonight's video is An Unreasonable Man, a exceptionally well done documentary on Ralph Nader. Regardless of whether you agree with his positions or blame him, hate him, Nader has been a tireless advocate for the citizens of the United States.
This is actually some very good news and frankly also a no brainer. How hard is it to realize one has set terms so predatory and unrealistic that they send their customers to the poor house? Maybe, just maybe it's a good idea to renegotiate reasonable terms so they actually make a little money after all instead of bankrupting their clientele?
JPMorgan Chase & Co., the largest U.S. bank by market value, said it won't begin foreclosure proceedings for as long as the next 90 days while it finds ways to make payments easier on $110 billion of problem mortgages.
It's Halloween! As candy, costumes and parties parse the night, we have our own goblins, ghouls and ghosts haunting economic policy.
Our current trickster is Treasury Secretary Hank Paulson, with his keys to the treasury purse via the Congress approved bail out
The United Steelworkers President, Leo W. Gerard, spelled out in a letter how the US taxpayer is being robbed blind. He does not mince words. An excerpt:
The Internal Revenue Service is considering a plan to curb a tactic commonly used by multinational corporations with American operations to lower their tax bills, a move that would help bring back some of the billions of dollars in taxable profits held overseas.
The plan was described on Wednesday by two government officials briefed on the matter, who spoke on the condition of anonymity because they said the plan was still in its early stages.
Has anyone bothered to ask the question of: Does the world have that much savings to borrow?
The U.S. government's borrowing needs will almost double to $2 trillion this fiscal year, prompting the Treasury to revive three-year notes and hold more frequent sales of 10- and 30-year debt, according to Goldman Sachs Group Inc.
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That makes nearly $144 Billion in just a couple weeks. How deep is this hole anyway?
American International Group has found another place to borrow billions of dollars from the government: the Federal Reserve’s commercial paper program.
The U.S. Treasury and the Federal Deposit Insurance Corp. are considering a program that may offer about $500 billion in guarantees for troubled mortgages to stem record foreclosures, people familiar with the matter said
The terms, not official would be:
The plan, which might put as many as 3 million homeowners into affordable loans, would require lenders to restructure mortgages based on a borrower's ability to repay
The Federal Reserve agreed to provide $30 billion each to the central banks of Brazil, Mexico, South Korea and Singapore, expanding its effort to unfreeze money markets to emerging nations for the first time.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy! 
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