21
votes
submitted by grandie4 52 months ago, from washingtonpost.com
President Obama's spending plan is built on the assumption that lawmakers can resolve some hugely contentious issues -- and it relies on a few well-worn budget tricks. The request he will deliver to Congress today proposes to provide what administration officials are calling a "down payment" on a... More
15
votes
submitted by rodeox 52 months ago, from finance.yahoo.com
To a nation reeling from recession and facing long-festering problems, President Barack Obama has a simple reminder: "We are not quitters." Whatever the problems, the new president promised in the first prime-time speech of his term, "We will rebuild, we will recover and the United States of... More
21
votes
submitted by eooties 52 months ago, from reuters.com
American International Group Inc, rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be the biggest loss in a quarter in corporate history. More
13
votes
submitted by agabriel 52 months ago, from online.wsj.com
Citigroup Inc. is in talks with federal officials that could result in the U.S. government substantially expanding its ownership of the struggling bank, according to people familiar with the situation. While the discussions could fall apart, the government could wind up holding as much as 40% of... More
20
votes
submitted by bafficio 52 months ago, from boston.com
President Obama told mayors from across the country yesterday that help is on the way - in the form of the $787 billion economic stimulus plan - but put them on notice that he will call them out if they waste the money. Outlining the federal aid for infrastructure, schools, and police departments... More
17
votes
submitted by trippie48 52 months ago, from nytimes.com
Credit cards, home equity lines, student loans, car financing: none come cheaply or easily in these credit-tight times. The banks, the refrain goes, just will not lend money. More
18
votes
submitted by eooties 52 months ago, from washingtonpost.com
The United States will have to keep about 60,000 troops in Afghanistan for at least the next three to four years to combat an increasingly violent insurgency, the top U.S. commander in Afghanistan said yesterday, warning that 2009 will be "a tough year." More
14
votes
submitted by rodeox 52 months ago, from finance.yahoo.com
Billions of dollars in government loans to prop up General Motors and Chrysler won't be enough. The companies, which have received $17.4 billion so far, filed plans with the government more than doubling that request to a staggering total of $39 billion. More
21
votes
submitted by riverdrops 52 months ago, from nytimes.com
The Securities and Exchange Commission accused Robert Allen Stanford, the chief of the Stanford Financial Group, on Tuesday of conducting “a massive ongoing fraud” in the sale of about $8 billion of high-yielding certificates of deposit held in the firm’s bank in Antigua. Also named in the suit... More
21
votes
submitted by trippie48 52 months ago, from washingtonpost.com
Treasury Secretary Timothy F. Geithner laid out the Obama administration's financial rescue program for his international counterparts Saturday in an effort to rally a vigorous global response to the worsening crisis and reassured the world's leading economies that the U.S. plan is more developed... More
21
votes
submitted by bafficio 52 months ago, from sfgate.com
Less than one month after President Obama took office, Congress passed his flagship proposal Friday night, an unprecedented collection of tax cuts and new spending that Democrats say offers the country its best hope to fight the worst economic crisis since the Great Depression. More
20
votes
submitted by chiasma 52 months ago, from washingtonpost.com
Director of National Intelligence Dennis C. Blair told Congress yesterday that instability in countries around the world caused by the current global economic crisis, rather than terrorism, is the primary near-term security threat to the United States. "Roughly a quarter of the countries in the... More
18
votes
submitted by riverdrops 52 months ago, from nytimes.com
This could be the year that Washington gets a voting member of Congress. “There is finally a light at the end of what has been a really long tunnel,” said the city’s nonvoting delegate, Eleanor Holmes Norton. On Wednesday, a Senate committee approved a bill to give the city a voting member of... More
15
votes
submitted by agabriel 52 months ago, from news.bbc.co.uk
The US trade deficit fell to its lowest level in almost six years in December, as the slowdown in the economy put the brake on imports. The monthly deficit, the difference between what the US exports and imports, narrowed 4% to $39.9bn (£27.7bn) from November's $41.6bn. More
17
votes
submitted by eooties 52 months ago, from latimes.com
With the Senate's approval Tuesday of a massive, $838-billion economic stimulus package, congressional negotiators launched into a high-risk race to come up with a compromise bill that could be delivered to the White House by the end of the week. It will be anything but easy. There are significant.. More
