What Does Pelosi say about the Bailout for Automakers?

In response of the financial reports from General Motors and Ford Motor, Pelosi -- House of Representative speaker, backs them calling for, "emergency and limited financial assistance."

Circuit City Files for Bankruptcy

A week after electronics retailer Circuit City announced that it would close 155 stores and lay off thousands of workers, they file for bankruptcy. This was one of my favorite electronics stores and it's ashame that our businesses are suffuring because of the economies state.

The O-conomy

http://www.barackobama.com/issues/economy/


Obama introduces an act to give a tax credit to business that maintain their headquarters in the U.S., pay decent wages, prepare workers for retirement, and provide Americans with more full-time jobs. In my opinion, this is a great step towards rebuilding the "strong fundamentals of the economy" that McCain swears exists. I can appreciate this because when I call Verizon about my bill being higher than expected, I want to speak to someone whose native language is English. I can also appreciate the fact that this plan could (I'm not saying it will, but it definitely has the potential to) change the face (and the fundamentals) of our economy.

Obama Vows Swift Action on Economy

Barack Obama held his first news conference as president to be elected following a meeting with Joe Biden and top advisers on the economy. While stressing that President Bush still holds the reins of the nation, Obama vows to "confront this economic crisis head-on" as soon as he takes office.

Desperate Detroit Comes to Washington

House Speaker Nancy Pelosi meets with the chiefs of Detroit's three (General Motors, Ford, and Chrysler) that are in unfortunate circumstances right now. They are meeting to making their case for federal aid.

"YES WE CAN!"

"Yes we can!" -- On Tuesday 4th November 2008 at approximately 11pm Senator Barak Obama was elected to serve as the next president of the United States of America. I was ecstatic... everyone was! He was the first African-American to be elected to serve our country. This is an event that is beyond historic. I am also honored to know that I was apart of it. This event says a lot. American can finally be recognized as a country of equal opportunity. Coming from a country that African-Americans were considered to be lesser than a man. We can know call our leader a black man. This is a moment in history that all African-Americans, minorities, Africans, even White-Americans support us can rejoice in.

Why would the bail out make us mad?

Are these companies and individuals getting help from the government during this "economic crisis adding insult to injury with their actions?" We will find some recent headlines pretty appalling. For example AIG's wasteful expenses and even CEOs leaving and making millions.

Bill Collectors Making Few Friends

Many Americans now find themselves in debt and pursued by collection agencies. The Federal Trade Commission says nearly 71,000 consumers filed complaints about harassment from bill collectors last year, this is two-times the number four years earlier.

Not Motorola?

Motorola is also a huge and successful company that isnt seeing dull days. Breaking reports that the technology and communications company Motorola will cut thousands of employees in its cell-phone division.

Huge Job Cut

As part of a cost-cutting plan that is expected to save the company $1.8 billion next year, credit card giant American Express announces that it will cut 7,000 jobs. They are making this move because credit card companies report results that cardholders have trouble paying off debt and pull back their spending.

A Recessions to Come

The economy shrinks at a 0.3 percent annual rate over the last quarter as consumers cut back on their spending by the biggest amount in 28 years -- the most obvious sign that the country is soon to see a recession.

Governors Seek Bailout for Automakers

So not only do the banks need a bail out but apparently automakers do to. The governors of Michigan, Delaware, Kentucky, New York, Ohio and South Dakota petition Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke for action to help the countries struggling automakers.

Fed Funds May Enable GM-Chrysler Deal

Hurting by both the credit crisis and this summer's high in gas prices, automakers may soon be from our tax dollars for in their assistance. This could also help funding for General Motors to acquire Chrysler.

Mortgage Crisis

Thousands of Americans lost their homes each day over the last quarter as they failed to keep up with their mortgage payments.

Mortgage Crisis

Thousands of Americans lost their homes each day over the last quarter as they failed to keep up with their mortgage payments.