EconWatch.com > Bush: Economy's 'pivotal moment'
[The Swamp] Citing the government's takeover of the mortgage conglomerates, Fannie Mae and Freddie Mac, the government's bailout of American International Group, the Federal Reserve's moves this week to pump billions of dollars into the economy and now the Treasury Secretary's attempt to siphon off much of the bad mortgage debt that has hindered banks and financial institutions from loaning money and investing it, Bush said the Fed had "injected much needed liquidity into our financial system.''
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[Take Back the Flag] Found! On the website of the Republican National Committee: Any work on economic growth was wrong. Of course its easy to look back and judge, but if the Bush Administration and Republicans want to promote their work on economic growth, we simply need to scan any news source for the headlines about the current American economy brought about by their “work”. Everyone is hurt in the current situation; major Wall Street banks are out of business and everyday Americans are finding themselves kicked out of their homes.
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[US Politics and the World] Reply to Bush bails out US mortgage giants: Third, huge businesses like Bank of America, which is swallowing up other large corporations, should be broken up so no company in the future could bring the American economy down with it. Said Sanders, “This country can no longer .
[The Swamp] Fed economic action: 'Unprecedented': "This is a pivotal moment for America's economy,'' President Bush said Friday, presenting a striking tableau on the steps of the Rose Garden, the president flanked by the chairman of the Federal Reserve, secretary of the Treasury and chairman of the Securities and Exchange Commission. "America's economy is facing unprecedented challenges, and we are responding with unprecedented action.''
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[The Liverpool Way] Federal Reserve Acts to Stop "total economic collapse": Bush said he was confident taxpayers would ultimately see the benefits of the US action. The mortgage-backed securities, whose value has plunged due to a record rate of home foreclosures in the US, would recover their value in the longer term.
[Dangerous Intersection] George Bush has fixed our ailing economy!: Phillips, a former Nixon White House strategist and economic critic, is author of a new book, Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism. Here are a few excerpts from Phillips book, .
[San Francisco Sentinel] BUSH PROPOSES $500 BILLION BAILOUT OF FINANCIAL FIRMS: Bernanke and congressional allies launched a major offensive Friday to persuade lawmakers to support Paulson’s proposal. Because the plan needs the approval of Congress, officials from the Treasury and the Fed are worried that delay by lawmakers would spark fresh anxiety in the markets.
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[mothanskin.blog-city.com] "The Fiscal Hawks Are Squawking": Ralph Nader, Cynthia McKinney, Chuck Baldwin and Bob Barr will be the anti-war fiscal hawk President America needs to fight the Wall Street raping of the American economy. Vote principles instead of party in '08!
[Montana Women For] bernie sanders on bailout: American exceptionalism and market capitalism have exited stage left, not with a bang but a whimper. We have entered the realm of corporate socialism and there is no return. The financial sector of the American economy has been ...
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[Joejolly's Weblog] The Wrecking of A Strong Economy: President Reagan may have the record (fired 11,000) for firing the largest number of American workers ever fired by an American president. And he wanted to make that firing last a lifetime.
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[Janamejayan's Weblog] US launches all-out attack on credit crisis: These have forced U.S. investment bank Lehman Brothers Holdings Inc into bankruptcy, Merrill Lynch into a hasty marriage with Bank of America, the Fed to bail out troubled insurer American International Group, and the government to seize control of mortgage finance giants Fannie Mae and Freddie Mac.
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[Mcs Political Bits/Thoughts] The Week of Financial Turmoil We Wont Soon Forget: You can only blame someone else so much before people ask YOU what YOU plan to do about this if elected President? I’m not saying John McCain has offered much more than Obama but Obama has offered NOTHING but condecending remarks and to be frank shown little compassion for the nation that is reeling at the moment from a week that saw our economy take a trillion dollar hit.
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[Encryptiony3i's Weblog] Shock Forced Paulsons Hand: Paulson wanted Congress to bless a plan that would allow Treasury to create a new facility to hold auctions and buy up distressed assets from financial institutions headquartered in the U.S. Without Congressional approval, Treasury could expand programs to buy mortgage-backed securities through Fannie Mae and Freddie Mac, but that wouldn’t be enough to address the broadening problems.
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