Mar 30 Watch Obama Unveils Tough Terms for GM, Chrysler Recovery Efforts President Barack Obama outlined tough terms Monday for continued federal aid for ailing auto giants GM and Chrysler. White House adviser Austan Goolsbee, a member of the auto task force, details the plan. Continue watching
Mar 30 GM CEO Ousted as Obama Details Auto Plan By Admin, PBS News Hour After months of dire sales predictions and billions loaned in government aid, President Barack Obama laid out a series of tough terms for ailing U.S. automakers, including the ouster of General Motors CEO Rick Wagoner. Continue reading
Mar 30 Will We Still Reject Materialism After the Downturn? Question: I enjoyed your recent interview with Robert McElvaine. (Editor’s note: Watch the interview below.) His thesis that the downturn will lead us away from consumption as a way of life to what really matters is interesting. Am I… Continue reading
Mar 27 Watch Historian Discovers Positive Lessons, Community Values From Great Depression Great Depression historian Robert McElvaine found that economic downturns can lead people away from conspicuous consumption to a more community-oriented way of life. Continue watching
Mar 27 Watch Obama Banking Plan Focuses on Regulation, Credit Thaw President Obama met with banking officials Friday at the White House to discuss financial strategies that will help unfreeze the credit markets and shore up capital. Analysts assess the plan and what it might mean for banks around the country. Continue watching
Mar 27 Was Depression-Era Debt as High as It Is Now? Question: When we hear comparisons between today’s economy and that of the Great Depression, I wonder: Had as many people and institutions been as highly leveraged then as now? Were personal and institutional debt as high then as they are… Continue reading
Mar 27 Conversation: Robert Lynch, President, Americans for the Arts By Arts Desk Amid the economic downturn, many arts organizations around the country are feeling the hurt right now, along with everyone else. Continue reading
Mar 27 How Can Assets Be Toxic If They Were Insured? Question: Why does everyone avoid discussions about PMI (Personal Mortgage Insurance), which protects the lenders from loss and is required on all loans with less than 20 percent down (except VA & Federal Housing… Continue reading
Mar 26 Watch Other News: Wall Street Surge Continues In other news, the Dow Jones industrial average and the Nasdaq both made gains and computer giant IBM announced it will cut about 5,000 jobs from its U.S. workforce. Continue watching
Mar 26 Can Individual Investors Participate in the New Toxic Asset Plan? Question: Is there an opportunity for individual investors who are not super-rich to participate in the new Toxic Asset plan? Maybe something like a mutual fund, or the Treasury’s non-competitive bid process? Paul Solman: Supposedly yes. From an AP… Continue reading