Thursday, November 13, 2008

Wall Street Fat Cats Pocketing Billions In Bailout Money

AlterNet: The Mix is the Message   Corporate Accountability and WorkPlace Newsletter
November 13th, 2008
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Wall Street Fat Cats Are Trying to Pocket Billions in Bailout Cash  

Wall Street Fat Cats Are Trying to Pocket Billions in Bailout Cash
By Nomi Prins, AlterNet
They got us into this mess, and now they want to cash out -- will President Obama stop them? Read more »

 

New foreclosure data out today, and the numbers look grim ...

"Home foreclosures are at crisis levels. A startling report released by RealtyTrac, 1 in every 452 homes in the U.S. received a foreclosure notice in October causing home foreclosure activity to rise 25% up from one year ago.

"The result of years of lending to risky or "subprime" borrowers has driven the U.S. foreclosure rate into double digits. The so-called housing boom instead has created an enormous amount of home foreclosures in an economic downturn."

In other news ...

"Employers slashed jobs from one end of the economy to the other in October, pushing the unemployment rate to 6.5%. That's the highest level in more than 14 years, and makes a deep recession a virtual certainty.

"Almost no sector of the economy was immune to the decline. The biggest losses were in manufacturing and construction, but they were joined last month by big cuts in retail trade, financial services, and leisure and hospitality."

Scary stuff. There's a ton of content this week to help make sense of it all.

-Joshua Holland
Editor, Corporate Accountability and Workplace

 

How to End Our Financial Misery  

How to End Our Financial Misery

A large-scale stimulus program is the only action that can possibly do the job. Read more »

Setting Sights at the Top is the Key to Governing from the Middle  

Setting Sights at the Top is the Key to Governing from the Middle

To govern effectively for the middle of America's economic ladder, Obama is going to have to take aim at the top. Read more »

What Were Considered  

What Were Considered "Radical" Economics Are Re-Emerging in Wake of Crisis

The worldwide market meltdowns have many turning the pages back to Marx and Keynes. Read more »

Keep Larry Summers as Far as Possible from the U.S. Treasury  

Keep Larry Summers as Far as Possible from the U.S. Treasury

In light of all of the corruption and cronyism that have marked the career of Lawrence Summers, why is Obama considering him for treasury secretary? Read more »

College Loan Slavery: Student Debt Is Getting Way Out of Hand  

College Loan Slavery: Student Debt Is Getting Way Out of Hand

The quest for a college degree is dumping millions of young people deep into a pit of debt from which many will never recover. Read more »

Tax Cuts: The B.S. and the Facts  

Tax Cuts: The B.S. and the Facts

That tax cuts stimulate the economy is taken as a matter of faith, but the brute facts suggest otherwise. Read more »

A Financial Meltdown 30 Years in the Making  

A Financial Meltdown 30 Years in the Making

A crisis precipitated by the wealthy, and we're all getting stuck with the tab. Read more »

Yes We Can (Have Economic Justice), but We Need to Fight Like Hell for it  

Yes We Can (Have Economic Justice), but We Need to Fight Like Hell for it

We need to band together and organize powerful new movements across this country. Read more »

Now the Hard Part: Keep Obama Accountable  

Now the Hard Part: Keep Obama Accountable

Obama's victory should mean not only a rejection of the imperial globalism of the Bush years, but also of Clinton's softer model of corporate rule. Read more »

Now That the Election Is Over, the Fight for Economic Justice Begins  

Now That the Election Is Over, the Fight for Economic Justice Begins

Just like the '30s, this unprecedented crisis has given us the opportunity to fix America and create a productive, sustainable economy for all. Read more »

  PEEK and Video: The hottest buzz and videos on the web  

With One Phone Call, Bush Could Relieve the Economic Pain of Millions  

With One Phone Call, Bush Could Relieve the Economic Pain of Millions

With just one telephone call, the President could single-handedly jump start the U.S. economy. Why doesn't Bush make the call? Read more »

Union-Busters Want GM to File for Bankruptcy  

Union-Busters Want GM to File for Bankruptcy

Let's call a horse a horse folks. Read more »

Busted: AIG Caught Living High on the Hog with Taxpayers' Money (Again)  

Busted: AIG Caught Living High on the Hog with Taxpayers' Money (Again)

AIG CEO Edward Liddy should be in jail. Read more »

Why Won't the Federal Reserve Say Who They Gave $2 Trillion To?  

Why Won't the Federal Reserve Say Who They Gave $2 Trillion To?

The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans. Read more »

Make Sure Obama Makes Good on His Promise to Pass the Employee Free Choice Act  

Make Sure Obama Makes Good on His Promise to Pass the Employee Free Choice Act

Help give the middle class a much-needed boost. Read more »

 

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