Why the Fed saved AIG and not Lehman

(Washington, D.C. ; Right Commentary) The U.S. Federal Reserve Board reversed course Tuesday night and agreed to an $85 billion bailout of global insurer American International Group (AIG), giving the U.S. government an ownership stake in the troubled insurance giant.
Treasury Secretary Henry Paulson Jr. and the Federal Reserve Chairman, Ben Bernanke convened a meeting with [...]

McCain and Obama clash on economy

CEDARBURG, Wisconsin (Reuters) - Presidential rivals John McCain and Barack Obama, back on the campaign trail after their party conventions, clashed over the ailing U.S. economy on Friday as unemployment hit its highest monthly rate in nearly five years.

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Joe Joe Biden, your life is calling…

But six months after Sen. Joe Biden (D-DE) ended his long-shot presidential campaign, the chairman of the Senate Foreign Relations Committee appears to be in serious competition to be Barack Obama’s running mate. A rather interesting choice - considering Biden got less than 1% of the vote in Iowa, and although a permanent Presidential candidate [...]

Where was Barack Obama?

It’s hard to take Sen. Obama seriously when his voting record makes it clear - he hardly seems to show up for work on the difficult days. Sen. Barack Obama’s campaign rhetoric offers the Democrat Party the prospect of “Hope and Change, and a Better Tomorrow.” (or whatever bumper-sticker he’s posting today… Change I can [...]

Economy NOT in recession (not yet) - Grows at .6 percent in first quarter

WASHINGTON (AP) - The bruised economy limped through the first quarter of this year at only 0.6 percent as housing and credit problems forced people and businesses alike to hunker down.
The country’s economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. [...]