The Crisis of Credit Visualized

Very well done animation on the credit crisis:

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

via Planet Money

Has Obama sold out to Wall Street? Matt Taibbi thinks so

Reading this article will make you furious. In a recent article for Rolling Stone , titled "Obama's Big Sellout," Matt Taibbi eviscerates the Obama White House, saying that President Obama has . . . more

Back-asswards: Biggifying Too Big to Fail

What do we do in response to a financial crisis due in no small part to the systemic risk posed by institutions that by their very size prove essential to a functioning financial system? Gorge them on taxpayer funds so they get even bigger, while smaller banks without the benefit of implicit government guarantee are allowed to fail (as all insolvent businesses should):




From TARP Oversight Report via TBP.

President Obama to hold jobs summit in December

	This Thursday President Obama announced plans to hold a jobs summit in December , in direct response to an unemployment rate at 10.2% ( this non-government estimate puts real unemployment around 22% . . . more

Unemployment rate hits 10.2% nationwide

Today the Labor Department reported that the national unemployment rate increased to 10.2%. This marks the highest unemployment rate since 1983 - a 26-year high. This chart from chartoftheday.com . . . more

Interactive map: foreclosure, unemployment rates and median household income by county

NPR has an interactive map up detailing the foreclosure rates, unemployment rates, and median household income by county nationwide. You can zoom in by state and find your county and compare it to . . . more

Unemployment Extension Update: Senate Dems propose 50 state coverage

Thursday on Capitol Hill, Senate Democrats introduced an amendment to H.R. 3548, the House bill which generously extended unemployment benefits to half the states in the Union, and ungenerously (and, . . . more

Condé Nast closing Gourmet magazine

In yet another sign of the harsh economic times, publisher Condé Nast has announced that it is closing down Gourmet magazine. The loss of this 68-year-old big brand name publication for foodies . . . more

Trouble in the Golden State: End of the California Dream?

A good article in The Guardian's Observer section about the possibility of California becoming America's first failed state - and reasons to hope that this won't happen.

Unemployment extension bill stalls in Senate

Despite increasing pressure from state labor groups, constituents, strong Democratic support, and signs from Republican leaders that they would not obstruct its passage, the unemployment extension bill . . . more

Unemployment Extension may stall in Senate

Earlier this week, the House passed a bill to extend unemployment benefits to 29 states in which the average unemployment rate over the last 3 months has been 8.5% or higher. Now it is time for the . . . more

Unemployment Extension passed by House

Last night the House of Representative passed an unemployment extension to help Americans who are still struggling to find work. The extension . . . more