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Obama Takes on Disgruntled Wall Streeters

Says 'big chunk of country thinks I've been too soft on you'

(Newser) - President Obama insisted he was not “anti-business” today, as he was confronted with several angry businesspeople in a town hall-style event on CNBC . “I have been amused over the last couple of years by this sense of me beating up on Wall Street,” Obama said. “Most... More »

Bailout Honchos Weigh Toxic-Asset 'War Bonds'

Treasury's new idea would allow private investors to profit from bailouts

(Newser) - Responding to charges the bank bailout privatizes profits while socializing losses, the Obama administration is exploring creating mutual-fund-type instruments that would allow private citizens to invest in toxic assets. The bailout funds, akin to war bonds, would allow the taxpayers who funded the bailout to profit along with Wall Street,... More »

Factory Sit-In Ends in Victory

Workers win severance and benefits

(Newser) - Laid-off workers who occupied a Chicago factory have agreed to end their sit-in after winning severence pay and benefits, Reuters reports. Each of the 200 workers at shuttered Republic Windows and Doors will receive two months pay, accrued vacation and two months health care coverage. The $1.75 million cost... More »

Where Is Wall Street's Leadership in This Mess?

Finance could take steps to mend the crisis of confidence

(Newser) - It’s easy to criticize Hank Paulson, writes Steven Pearlstein for the Washington Post—for not predicting the depth and breadth of the crisis as subprime mortgages went sour a year ago, for letting Lehman Brothers fail, or for taking his lead from the UK this weekend. But Paulson and... More »

Main Street Skeptics Slam Bailout Scheme

Many doubt their tax dollars should cover Wall Street's 'greed'

(Newser) - While Wall Street stands to gain in the federal bailout, many on Main Street are deeply skeptical, the Washington Post finds in a heavily foreclosed-upon Virginia community. “I've been financially responsible with my own money. Why should I now be responsible for the fact that you were not?” wonders... More »

In Fla., Obama Lays Into 'Panicked' Mac

Dem touts focus on 'Main Street,' targets state's women, retirees

(Newser) - Barack Obama criticized the administration’s response to the plight of working families today, while calling for steps to regulate large financial institutions, CNN reports. “We cannot only have a plan for Wall Street,” he said. “We must also help Main Street as well.” The Democrat... More »

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