Reporting from Washington — President Obama, walking a fine line between optimism and caution, said Friday that there were "glimmers of hope" for the economy but warned that substantial, potentially difficult government action was still necessary to ensure a healthy recovery. "We are starting to see progress," Obama said after huddling with senior members of […]
Obama Chastises AIG Executives
It was recently reported in the mainstream media that the executives of insurance giant, AIG, requested over 165M in unpaid bonuses for executives which they claimed were due and petitioned the Secretary of the Treasury, Timothy Geithner, for additional sums from the September bailout in order to satisfy these "obligations." Mr. Geithner, while he was portrayed […]
List of Recipients of AIG Bailout Sums Raises More Questions
Below is a listing of prepared by AIG for the Department of the Treasury prior to it’s recent request for additional sums in order to cover 2008 fourth quarter losses. These financial institutions were apparently heavily invested in AIG and were recipients of some of the over 170 billion that thus far has been thrown […]
General Motors post 4th quarter loss : $9.6 billion
DETROIT — General Motors Corp. says it lost $9.6 billion in the fourth quarter and burned through $6.2 billion in cash as it sought government help to avoid running out of cash. The nation’s biggest domestic automaker lost $30.9 billion for all of 2008 as it struggled against a U.S. sales slump and a global […]
Any Substance Left In Beckham’s Style?
Hollywood glitz was swapped for Italian class as the David Beckham Show made its latest premiere in Europe’s fashion capital. The streamers and razzmatazz that marked the England midfielder’s unveiling as a Los Angeles Galaxy player last year were nowhere to be seen. But this production by AC Milan was just as carefully orchestrated. As […]
Obama signs huge stimulus, readies foreclosure aid(Video)
DENVER (AP) — Racing to reverse the country’s economic spiral, President Barack Obama signed the mammoth stimulus package into law Tuesday and readied a new $50 billion foreclosure rescue for legions of Americans who are in danger of losing their homes. There was no recovery yet for beleaguered automakers, who were back in Washington for […]
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