Sponsored by AIG - We're the people who need more money to explain why we just spend your money on trips and champagne. See how committed we are? Here at AIG we're spending millions in advertising telling you just how sorry we. Seriously. We'll toast to it.
Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!
This week is ode to money holes. Now on cable the talking heads are debating....
Should The Government Stop Dumping Money Into A Giant Hole?
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!
Tonight's theme are two plots by business interests to overthrow Democratically elected officials simply because they didn't like what the nation would do.
America cannot survive without an industrial base. We cannot simply be a pure service economy anymore than we can be a pure agricultural one or industrial one. Our nation is too complex, it's needs are too large to adhere to one type of sector. The nation would be more at risk to economic cycles if it were to simply go one route or at the very least put most of its focus on say just services. It would be like many towns in this country where there is only one employer or one type of industry supporting the economy as a whole. One need only read the latest news about how the City of London is not doing so well because its Financial Services Sector has gone downhill. Now take that onto an aggregate scale.
But we have alternative car companies who cares about GM or Ford?
Ya gotta shake your head when just like that Hank Paulson and the Bush administration hand over $250 billion to selected banks yet try to fight any of the bail out money going to homeowners.
FDIC publishes $24 billion plan to avert 1.5 million foreclosures by end of 2009
Testifying on Capitol Hill Friday, Neel Kashkari, the Treasury Department's assistant secretary for financial stability, said the aim of the $700 billion plan was to make investments with the hope of getting the money back. That he said, was "fundamentally different from just having a government spending program" that would disburse money with no chance of ever seeing any returns.
Government spending program? No returns? Seems like financing executive pay packages for do nothings who already ran their companies into the ground is the real spending program with no returns.
The Senate is going to try to push through a bail out package for the auto industry.
The plan details are unclear and there is a test vote on Wednesday.
CQ Politics has a few more details on what might be in the bill.
Sen. Carl Levin , D-Mich., has been working on legislation to provide $25 billion in “bridge loans” to the “Big Three” automakers. House Financial Services Chairman Barney Frank , D-Mass., has been heading efforts to draft bailout legislation in that chamber.
House and Senate leaders have said any legislation must include the same type of restrictions and taxpayer protections as the larger financial industry bailout plan Congress cleared in October, including limits on executive compensation.
The Commerce Department said Friday retail and food sales fell 2.8% from September, and 4.1% from the October 2007. The month-over-month decline is the largest in 16 years, and surpasses the previous record set in November 2001.
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! 
Associated Press has a nice short
Recent comments