November 28, 2008
Growing up with a mom who worked in retail, the day after Thanksgiving meant watching my single mom wake up before the sun, before the crazy shoppers, to open up whatever store she worked in at an unholy hour. We never shopped for bargains because it was my mother's job to make sure others could. Ev...
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“America is so full of contradictions! For even as our extended family sits down to eat our Thanksgiving dinner, there are many in our neighborhood who are now facing foreclosure and with barely anything to be cheerful about this year”: Jamaican diaspora blogger Geoffrey Philp is thankfu...
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U.S. President-elect Barack Obama recently participated in an anti-global warming rally in California during which he said that few of the nation’s problems were more urgent than global warming. To his credit, Obama tossed in a throwaway bit about dependence on foreign oil, too. Bu...
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Barack Obama has named my favorite economist, Austan Goolsbee, as Staff Director and Chief Economist of the newly formed Economic Recovery Advisory Board. Goolsbee has also been appointed one of the three members of the Council of Economic Advisors. I was hoping Obama would name Goolsbee the chairma...
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Perhaps the fundamental problem of our time is that no one wants to tell - or hear - the truth anymore. This has certainly been true in Detroit, et al, where the United Auto Workers has fought off wage and benefit cuts for decades. Now GM is poised at the brink of bankruptcy as a result....
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Once upon a time when I was a teen, food stamps were actually like stamps, well actually more like coupons on Monopoly money colored paper and I remember being ashamed when my then boyfriend's mom sent me to the corner bodega to buy something with them. While sadly the stigma still exists with using...
go to article »November 26, 2008
Ritholtz blogs:If we add in the Citi bailout, the total cost now exceeds $4.6165 trillion dollars. People have a hard time conceptualizing very large numbers, so let’s give this some context. The current Credit Crisis bailout is now the largest outlay In American history.Jim Bianco of Bianco Resea...
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The United States Government took a giant step towards nationalization of the American banking system by announcing a plan to fund and backstop Citigroup, the beleaguered financial giant that has lost over $160 billion in market cap. The guarantees being provided include an additional capital infusi...
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Barack Obama is set to announce that his Treasury Secretary will be the current President of the Federal Reserve Bank of New York Tim Geithner. Obama will also announce that former Treasury Secretary Larry Summers will be his director of the National Economic Council and his senior economic advisor....
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Look! They’ve added a plant! And a window! Oh yes, and he talked about the economy and stuff. Something about “creating 2.5 million jobs”? ...
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