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The markets haven't been kind to President Barack Obama's $787 billion stimulus package, and right now it's hard to envision where the money is going and how it will help. (You can follow the money here on recovery.gov from the government's vantage, and from here with a journalistic eye on factcheck.org.) This week the administration is tackling the mortgage crisis by committing a potential $275 million -- $75 million directly to help struggling homeowners avert foreclosure and stay in their homes, the rest in financial backing to the government-controlled mortgage lenders Fannie Mae and Freddie Mac. After the jump, a quick look at the president's plan. It will not help everyone who is near foreclosure, and it definitely will not help homeowners who took on mortgages they never could have afforded even if the housing market had not tanked. Here's a very helpful Q&A in the New York Times that answers many of our questions. Chime in if you think it is a move in the right direction below: Read More »
US President Barack Obama remarks on the home mortgage crisis at Dobson High School in Mesa, Arizona. / AFP via Yahoo! News
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<img alt="" style="" src="http://a323.yahoofs.com/phugc/a3YLDK8ROmcZ/photos/b647d4132220a3f89eca1401f279879f/mr_fc0de40e9da53b.jpg?ug_____DG977p9Az" align="center" height="400" width="398"> Read More »
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Check back weekly for my Recession Trend Tracker. If Us Weekly and The Economist had a love child, it would look like this:<br><br><br><img alt="" style=""... Read More »
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Practical Chic's weekly "In and Out" chart following the most fabulous, ridiculous, and relevant events in the economy<br><img alt="" style=""... Read More »
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<span style="FONT-SIZE:12pt;FONT-FAMILY:'Times New Roman';"><img height="106" alt="" src="http://a323.yahoofs.com/phugc/VhaFHZmZVzR2/photos/f975f8773309ccbce08928416b947ab0/ori_1d2f18cd4e3166.jpg?ug_____Dt.qFCt.N" width="145">Last time I checked the government is supposed to be by the... Read More »
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<p style=""><span style="FONT-SIZE:12pt;"><span style="font-family:Times New Roman;"> </span>In the closing weeks of the election now thankfully concluded, attention focused on... Read More »
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A quick article from the NY Times answers a few of the questions that you might have about the $700,000,000,000 bailout plan. At least we now know why they decided on $700 billion, but they should really call it what it is - $1,000,000,000,000. Click Read More »
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I learned a joke as a child that I've managed to remember most of my life. I don't whip it out very often and I haven't thought of it in some time, but the resounding crashes coming from Wall Street (most recently, WaMu) reminded me of the joke so I thought... Read More »
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Original post date: September 19, 2008 I follow Steve Lendman's blog from time to time because the... Read More »
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