Largest Mortgage Firms Profit from Crime, Kill Moral Hazard for All of Wall Street

By: Tuesday March 29, 2011 9:14 am

I truly fear the next financial collapse, which indeed will happen, because over the past three years, both Republican and Democratic administrations haven’t just killed moral hazard for the larger financial sector, they have dragged its corpse down Wall Street in an elaborate funeral procession for all to see. The latest example of comes from [...]

Bernanke Helps House GOP, Claiming Immediate Cuts Will Barely Hurt Growth

By: Tuesday March 1, 2011 1:42 pm

In contrast to the analysis by Goldman Sachs and Moody’s Anlaytics–which both concluded the immediate cuts pushed for by House Republicans would significantly reduce economic growth–Federal Reserve Chairman Ben Bernanke claimed they would do little harm. The backing of such an important official should be a real boost to Republican efforts to push for immediate [...]

Bailouts Unlimited: Republicans Demand Corporate Welfare for Oil Companies

By: Wednesday May 19, 2010 9:49 am

Republican Senators support bailouts, handouts and state-provided insurance–for big oil companies. Senators from Oklahoma and Alaska are fighting the effort to lift the puny corporate liability cap of $75 million for disasters like the Gulf of Mexico oil explosion.

Right & Left Agree: Mandates are the Road to Neofeudalism

By: Wednesday December 30, 2009 10:08 am

As Markos Moulitsas of Daily Kos said, “remove the mandate or kill this bill.” We’ve opened a “war room” at Firedoglake with information about calling your member of Congress to demand that this provision to bail out the insurance industry be removed from the health care bill before they agree to cast their vote in favor of it.

And nobody needs to pass an ideological purity test before they can use it.

Join us to oppose the mandate. Enter the war room.

Fannie/Freddie Will Start Foreclosures Again in January, Despite Christmas Eve Bailout

By: Monday December 28, 2009 10:05 am

The elite who created this mess are rewarded for their continued failure, because any solution to the foreclosure crisis apparently has to make the banks rich in the process. Just as it is with the insurance companies, the banks expect to be paid handsomely in any government program that addresses the problems they created.

There needs to be an investigation.

The Straight Talk Express Must Yield to the Union Bus

By: Tuesday September 30, 2008 8:43 am

A group of union members is traveling to battleground states challenging John McCain’s economic agenda. Yesterday the bus pulled up in front of McCain campaign HQ in Toledo, Ohio.

The workers call themselves the Change to Win Truth Squad. The project is sponsored by Change to Win, a federation of several major unions representing about 6 million members in total.

Campbell’s Cream of Bailout Soup

By: Tuesday September 30, 2008 7:11 am

The stock market lost over a trillion dollars yesterday after lawmakers rejected the Bush/Paulson bailout plan. Campbell’s Soup was the only stock in the S&P 500 to rise yesterday. It’s pantry politics in action. Campbell’s also makes Prego spaghetti sauce, Pepperidge Farm cookies, and other staples.

Union Leaders: Bail Out Main Street, Not Just Wall Street

By: Friday September 26, 2008 4:31 pm

Senior union leaders from the Change to Win federation of labor outlined a $350 billion plan to revitalize the economy in the wake of the financial meltdown in a conference call this afternoon.

The federation’s bottom line is that whatever Washington does to bail out Wall Street has to be accompanied by support for ordinary people.

House GOP Aides: McCain Clueless on Bailout

By: Friday September 26, 2008 10:35 am

Vintage McCain. Having returned to DC to “help” with the financial crisis, McCain acts decisively to provoke shouting bitterness recrimination and confusion at the bailout negotiations, without first bothering to read the plan he was shouting about, or the one he was attacking.

Ted Stevens Asks to Skip Corruption Trial to Give Billions to Corporations

By: Tuesday September 23, 2008 8:00 am

Sen. Ted Stevens asked for permission to periodically skip out on his corruption trial in order to address the current financial meltdown.