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Financial Meltdown Topics

Democracy Now! stories, posts and pages that relate to Financial Meltdown

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  • In his first address to a joint session of Congress, President Obama vowed the nation will be able to rebuild and recover from the economic crisis that has left millions unemployed and pushed millions out of their homes. Obama called on Congress to invest in areas like energy, healthcare and education, while admitting that hard decisions need to be made to reduce the federal deficit. President Obama also said he would soon announce a plan to...
    February 25, 2009 | Story
  • The Obama administration has revamped the terms of its emergency aid to troubled financial firms that could lead to the government nationalizing some of the country’s largest banks. With nationalized banks on the horizon, we speak to Robert Johnson, former chief economist of the Senate Banking Committee, and former investment banker turned journalist, Nomi Prins. [includes rush transcript]
    February 24, 2009 | Story
  • President Obama has unveiled his first concrete plan to address the country’s dire housing crisis, a $275 billion measure that could help as many as nine million homeowners avoid foreclosure and reduce mortgage payments. Will it help those who need it? We speak to Josh Zinner of the New York-based Neighborhood Economic Development Advocacy Project. [includes rush transcript]
    February 19, 2009 | Story
  • The unemployment rate remains highest among people of color. Black unemployment is now at over 12.6 percent, and the jobless rate for young black men is considerably higher. We speak to Dedrick Muhammad, co-author of the new report "State of the Dream 2009: The Silent Depression" published by United for a Fair Economy. [includes rush transcript]
    February 19, 2009 | Story
  • As President Obama is scheduled to announce his $50 billion foreclosure prevention plan today, we go to Minneapolis to speak with Cheri Honkala of the Poor People’s Economic Human Rights Campaign. The group is taking matters into its own hands and finding housing for homeless people in foreclosed and vacant homes. We also speak to Dwayne Cunningham, a homeless man who recently moved into a vacant home. [includes rush transcript]
    February 18, 2009 | Story
  • President Obama is scheduled to sign the $787 billion economic stimulus plan into law at a ceremony in Denver today. Tomorrow in Phoenix, Obama is expected to tackle the home mortgage crisis and roll out a plan to stem the huge rise in foreclosures. While there has been much discussion in the media on the state of the US economy, what about the rest of the world? From Greece to Guadeloupe, from Italy to Indonesia, from Chile to China, from...
    February 17, 2009 | Story
  • Both the House and Senate are set to vote today on the $789 billion economic stimulus package. The vote follows weeks of political wrangling that culminated in compromise legislation struck on Wednesday. The final size of the package is less than what both the House and Senate originally passed and far smaller than what many economists say is needed. But it still marks the nation’s largest economic rescue program since Franklin Roosevelt...
    February 13, 2009 | Story
  • As the Senate prepares to vote on the $800 billion stimulus and recovery package, President Obama urged Congress to pass the bill Monday, first at a town hall meeting in Elkhart, Indiana and later at the first news conference of his presidency. He warned that not acting immediately to rescue the economy could lead to a "catastrophe" and emphasized that only the government could bail out the economy at this moment. [includes rush...
    February 10, 2009 | Story
  • With estimates of the cost of addressing the financial crisis exceeding $9.7 trillion, we speak with economist and University of Texas professor James Galbraith, author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too. Galbraith says rather than pouring billions into propping up troubled giant banks, the government should declare them insolvent. [includes rush transcript]
    February 10, 2009 | Story
  • After an $850 billion bailout for Wall Street and another $25 billion for the auto industry, struggling homeowners still await large-scale government assistance. The Obama administration says it’s working out the details of its plan to stem foreclosures. In the absence of government action so far, some are taking action on the local level. In Michigan, Wayne County Sheriff Warren Evans announced Monday he won’t enforce sales of...
    February 03, 2009 | Story