Posts Tagged: economic meltdown

How the world almost came to an end on Sept. 18th

How a run on Money Market accounts on September 18th almost collapsed the global economy – terrifying stuff that is just coming out now about what the Treasury and Congress were doing behind the scenes. Quoting from Zero Hedge: LiveLeak has caught a scary moment of previously undisclosed insight by Paul Kanjorski where he reveals

Read on »

Rachel Maddow Must-See

If you didn’t catch Friday night’s Rachel Maddow show, take the time to watch it now. What she has to say on the Senate’s vote about the economic stimulus bill is critical.

Read on »

In the news

Scary bits in the news, all coming at once. Publisher O’Reilly lays off 14% of it’s staff – 30 of 222 employees. Indianapolis insurer Wellpoint lays off 600 people. Circuit City closes and liquidates remaining stores. Citigroup reports $8.29 billion loss; twice as much as expected. Bank of America Posts Quarterly Loss After Bailout Lots

Read on »

Buy a book this weekend

Editorial Ass has some good advice for those in the book publishing industry. Since I’m one of those people, and I’m married to one, and most of my friends have something to do with publishing, I’m going to quote quite a bit of this blog post: Let’s talk a little bit about what happened in

Read on »

More than just the last couple weeks

Over the weekend, we got caught up on watching our saved Rachel Maddow shows — one thing that struck me was than when she interviewed Pat Buchanan, he keep going to the same talking point — “McCain is suffering in the polls over the last three weeks because of the economy taking a nose dive!”

Read on »

Dooce’s Hypothetical Question

A few days ago, Heather Armstrong posed a question on her blog: Indulge me for a second and consider this scenario: let’s say you’re given the opportunity to donate some money to a desperate family who would use it to feed their children, but were only able to do so if you donated the same

Read on »

The American Dream

Reading this article today on what the AIG executives did after the nation bailed out their company nearly made me throw up with anger: Have you heard of anything more outrageous – a week after taxpayers commit $85 billion dollars to rescue AIG, the company’s leading insurance executives spend hundreds of thousands of dollars at

Read on »

Some economic legislation IS needed

I know I spoke out against bailing out greedy rich Wall Street investors last week, and I still feel that way. But even at that time, I understood that some sort of financial intervention into the economy needed to happen — preferably one that helps the middle and lower classes. I sort of assumed that

Read on »

An alternate proposal

Here’s an idea we all floated around the table at lunch, and Democrats and Republicans all agreed it was great: Rather than use the $700 billion (or whatever the hell number) to bail out failing banks, why not take that money and pay off the mortgages of every single American who makes under $1 million

Read on »

Republicans derail talks with infighting

I want to hear a debate tonight. If McCain flew to Washington to fuck up talks about the bailout and to drag Obama into the weeds with him, he better stand up in front of me and explain himself. If if he’s too much of a chicken to do so, then Obama should appear without

Read on »

I heard the news today, oh boy…

I’ve tried numerous times to stop blogging about political matters. I’m not any sort of expert on them, and they do make me frazzled in a way that isn’t always healthy. There are lots of cool things going on in our lives that I should be talking about instead. But like many people I know,

Read on »

Barack Obama on the Economy

Candidate Obama addresses what’s happened in the last few days. Every time I hear him speak, I think this guy is the most presidential guy I’ve seen in years. Does Barack need to suspend the campaign and return home? Here’s an astute analysis from metafilter: This is entirely needless. Yes, they’re both Senators, but that

Read on »

Obama’s Steady Hand

“It’s my belief that this is exactly the time when the American people need to hear from the person who in approximately 40 days will be responsible for dealing with this mess,” said Obama. “Part of the president’s job is to deal with more than one thing at once.”

Read on »

Rachel Maddow on the Bailout

My favorite part of this is the Bush quote “now is not the time to be partisan. We need to come together…” I disagree. I think this is a GREAT time to be partisan. The best possible time, actually. The Republicans FUCKED UP. There’s just no other way to see this. The fuck-ups don’t get

Read on »

Clinton on the Administration’s Proposal to Restore Stability to U.S. Financial Markets

Statement of Senator Hillary Rodham Clinton on the Administration’s Proposal to Restore Stability to U.S. Financial Markets WASHINGTON, DC – Senator Hillary Rodham Clinton made the following statement on the administration’s proposal to restore stability to U.S. financial markets. “When the American people, facing a foreclosure crisis and struggling economy, turned to this administration for

Read on »

It’s a class war, stupid

If you only read one article about the 2008 election, make it this one – Matt Taibbi’s “It’s a Class War, Stupid” in Rolling Stone this month. Taibbi’s article about the looming economic depression (yeah, you read that right – I didn’t say recession, I said depression) is spot on… and the mainstream media is

Read on »