Countrywide 'Bailout' Is Dem Chicanery

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• American Capitalism Is Dead. The Culprit? America

  Oct 10, 08 10:35 AM CDT
  As Wall Street banks collapse like a house of cards, American capitalism isn’t just failing in practice; the very idea of unregulated, free-functioning markets has received a serious blow, writes Anthony Faiola in the Washington Post. Once the symbols of American economic might, there's a real possibility that many US banks may find themselves partially government-owned as part of the bailout, altering America’s influence in pushing laissez-faire policies in controlled economies worldwide.
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• Candidates Return to Capital to Back Bailout

  Oct 1, 08 4:40 PM CDT
  The presidential candidates took a break from stumping today to visit Washington, DC, and support the Senate's financial bailout plan, the New York Times reports. Barack Obama repeated his pro-bailout argument on the Senate floor, saying that "the worldwide economy could be plunged into a very, very deep hole." He admitted earlier today that the plan was "not perfect," but necessary to "prevent a crisis."
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• FBI Begins Probe of AIG, Lehman, Fannie, Freddie

  Sep 23, 08 8:21 PM CDT
  The FBI is investigating four major US financial institutions whose collapse helped trigger a $700-billion bailout plan by the Bush administration. The agency is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac, insurer AIG and Lehman Brothers. The inquiries will focus on the companies and the individuals that ran them, a senior law enforcement official said. More »

• Paulson Outlines His 'Bold' Bailout

  Sep 19, 08 10:10 AM CDT
  Henry Paulson confirmed today that he is working on a "bold" plan to buy bad loans from banks, the Wall Street Journal reports. Such a plan would cost taxpayers “hundreds of billions of dollars,” Paulson said, but he believes it is necessary to stabilize the economy. “The ultimate taxpayer protection will be the stability this troubled asset-relief program provides to our financial system,” he said. More »

• How Much More Will Taxpayers Have to Pony Up?

  Sep 17, 08 1:01 PM CDT
  More than $320 billion in taxpayer funding has already been pledged to treat firms sickened by the subprime contagion—more than twice the $124 billion the government spent fixing the savings and loan crisis in the 1980s, reports the Los Angeles Times. The question, writes Michael Hiltzik, is how much farther will this "bailout binge" go?
  
  
  
  
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