Aug 12 More from 99ers: Unemployment Leads to Foreclosure Paul Solman: Given today’s news that foreclosures jumped 9 percent in July, we’ve posted the last of our 99er interview outtakes, in which Faith Phillips tells a striking story: She’ll be paying off condo fees on her foreclosed house… Continue reading
Aug 12 More from 99ers: A Life’s Savings Lost to Swindle For the next few days, we’re sharing outtakes from our interviews with 99ers last week. In this second video, 99er Gregg Rosen recounts how he lost his savings in Bernie Madoff’s Ponzi scheme just months after losing his job. (… Continue reading
Aug 11 More from 99ers: How Long-term Unemployment Affects the Rest of the Economy Editor’s note: For the next few days, we’re sharing outtakes from our interviews with 99ers last week. Here’s the first — 99er Gregg Rosen and economist Douglas Holtz-Eakin discuss how long-term unemployment affects the rest of the economy: (Watch… Continue reading
Aug 10 ’99ers’ Story Elicits Viewer Reactions, Tales Paul Solman: There’s been quite a bit of reaction to our story last Friday on the extension (or non-extension) of unemployment insurance benefits past 99 weeks. You can read some of it here in the comments section on the… Continue reading
Aug 09 What Part Did Olympics Expenses Play in Greece’s Financial Crisis? Question: I may have missed it, but what part did the expense of the Olympics play in Greece’s financial crisis? I realize that there were many benefits including infrastructure, but it all had to be paid somehow. Paul Solman: It’s… Continue reading
Aug 06 The ’99ers’ Share Their Stories Editor's Note: Last month, Congress extended federal unemployment benefits for people who had been out of work up to 99 weeks. But for the millions of Americans who have been jobless longer than that -- the "99ers" -- there will… Continue reading
Aug 05 What Would Happen if the U.S. Government Defaulted on its Debt? Question: I’ve heard the comment that if the U.S. government were to default on its debt, “everything goes down” — presumably banks, credit unions, etc. Would a default necessarily result in runs on retail banks and credit unions and insufficient… Continue reading
Aug 04 Why is Stimulus Spending the Government’s Responsibility? Question: Why does the government have to do anything in the way of a stimulus? Since many banks and corporations have more capital than at any time in recent memory (according to many accounts), why don’t they invest that into… Continue reading
Aug 03 What Impact Does High-Frequency Trading Have on Market Volatility? Question: There’s been a lot of research and gathering of evidence for and against high-frequency trading and its impact on current market volatility and the value it adds to things like liquidity, but I’ve never actually seen any sensible debate… Continue reading
Aug 02 Why Can’t the Government Resurrect ‘Workfare’ Programs Like the WPA? Question: Some of FDR’s Great Depression financial recovery and unemployment strategies included the Civilian Conservation Corps and the Works Progress Administration, both of which left important legacies evident still today. There is great dignity… Continue reading