You’re not going to want to hear this, but the $700 billion provided for the 2008 Troubled Asset Relief Program (TARP) may be the best money we never entirely spent. Hat’s of to TPM for putting together what we know of the cost so far.
The U.S. Treasury has disbursed $536.6 billion for the programs [...]
My father was a CEO, of the ’50s and ’60s generation. He lived, in his later years, in a state of shock at the grabbing greed of his corporate successors. Plenty of self-enriching louts rose to the top in his day. But instead of being admired in the executive suite, their behavior was generally deplored.
It [...]
Newly out of work? Odds are, it will take you only a few weeks to find a new place.
That’s a surprising fact, considering the horrendous number of workers who are unemployed. Compared with other recessions, we’ve seen an epic loss of jobs. But the difference between who does and who doesn’t get a job tells [...]
America’s banking institutions got rich exploiting ordinary people. The mortgage banks that funded abusive loans. The investment banks that made billions of dollars leveraging these loans for fees. The commercial banks that drowned you in credit-card fees and abusive subprime cards. They ran the economy over the cliff, taking your jobs and savings with them. [...]
For those screaming about the “Obama recession,” look at this chart. The red bars show jobs lost under Bush (from January, 2008, getting worse every month). The blue bars show jobs lost under Obama (a gradual reduction in the number of jobs lost every month).
A country can’t recover in 12 months from the worst economic [...]
