Category Archives: Stimulus

Asia markets rise on Japan stimulus, China lending

By doris | Published: April 13, 2009

Full Story At HONG KONG – Asian markets gained more ground Monday as Japan’s new $150 billion stimulus plan and upbeat news about Chinese bank lending boosted hopes for recovery in the region’s major economies. Trade was thinner than normal with many investors still away for a public holiday and several markets closed. A stronger [...]

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Workers say Obama treated autos worse than Wall St

By doris | Published: March 31, 2009

Full Story At DETROIT – Many assembly line autoworkers reacted with skepticism and anger Monday to the Obama administration’s tough tactics, which stoked long-simmering feelings that the people who put the country on wheels get treated differently than the wizards of Wall Street. “It’s the age-old Wall Street vs. Main Street smackdown again,” said Brian [...]

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GM boss to step down at White House request

By doris | Published: March 30, 2009

Full Story At  msnbc.com DETROIT – General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House, administration officials said Sunday. The news comes as President Barack Obama prepares to unveil additional restructuring efforts designed to save the domestic auto industry. The officials asked not to be [...]

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Nevermind! States accept jobless help

By doris | Published: March 28, 2009

Full Story At NEW YORK (CNNMoney.com) — It’s not that easy to turn down federal funds. Several governors who initially voiced concerns about expanding state unemployment benefits to qualify for federal stimulus funds have decided to accept the money. Some were feeling the heat from jobless constituents, while others took comfort in learning recently from [...]

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Stock rally faces a test

By doris | Published: March 12, 2009

Full Story At CNNMoney.com NEW YORK (CNNMoney.com) — After its first two-day winning streak in five weeks, Wall Street may have trouble getting that third gain in a row Thursday. At 4:40 a.m. ET, Nasdaq-100, Standard & Poor’s 500 and Dow Jones industrial average futures were all lower. The major indexes all climbed Wednesday, although [...]

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States debate plans for stimulus cash

By doris | Published: March 9, 2009

Full Story At  msnbc.com As tens of billions of dollars in stimulus funds begin to flow across the country, states and federal agencies are gripped by disputes over whether the money is being used in ways that violate the letter or spirit of the legislation, battles that raise new questions about precisely what the intent [...]

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Revealed: 15 AIG bailout counterparties

By doris | Published: March 8, 2009

Full Story At money.cnn.com NEW YORK (Fortune) — Donald Kohn, vice chairman of the Federal Reserve, learned this week about blackmail, Senate style, when he refused to disclose the names of financial institutions benefiting from the bailout of American International Group. Testifying about AIG (AIG, Fortune 500) before the Senate Banking committee, Kohn respectfully resisted [...]

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Spending Bill Tests Obama’s Credibility

By doris | Published: March 5, 2009

Full Story At CBS News.com At an event this morning, President Obama again demanded that the government he now heads “turn the tide on an era of fiscal irresponsibility.” But his credibility on the issue is at risk if he goes ahead with plans to sign the $410 billion spending bill now making its way [...]

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Report: AIG bailout to add on billions more

By doris | Published: March 2, 2009

Full Story At  msnbc.com CHARLOTTE, N.C. – Struggling insurer American International Group Inc. will receive up to $30 billion in additional federal assistance in the fourth government rescue of the company, a person familiar with the matter told The Associated Press on Sunday. The new infusion is intended to prop up AIG — once the [...]

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Obama to Treasury: Start cutting taxes

By doris | Published: February 22, 2009

Full Story At WASHINGTON (Reuters) — U.S. President Barack Obama ordered the U.S. Treasury Saturday to implement tax cuts for 95 percent of Americans, fulfilling a campaign pledge he hopes will help jolt the economy out of recession. The tax cuts are part of a $787 billion economic recovery plan passed by the Democratic-controlled Congress [...]

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GM, Chrysler ask for $21.6 billion more

By doris | Published: February 18, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — General Motors and Chrysler LLC said Tuesday they could need an additional $21.6 billion in federal loans between them because of worsening demand for their cars and trucks. The two firms, in documents submitted to the Treasury Department, also detailed plans to cut 50,000 jobs worldwide by [...]

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Congress trumps Obama, cuffs CEO bonuses

By doris | Published: February 15, 2009

Full Story At msnbc.com WASHINGTON – The stimulus package Congress passed last night imposes new limits on executive compensation that could significantly curb multimillion dollar pay packages on Wall Street and goes much further than restrictions proposed by the Obama administration last week. The bill, which President Obama is expected to sign into law next [...]

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World stocks sink as investors eye US rescue plans

By doris | Published: February 10, 2009

Full Story At Yahoo! News HONG KONG – Asian stock markets were mostly lower in erratic trade Tuesday, as investors awaited details of massive U.S. spending plans to revive the world’s largest economy and bolster its troubled financial industry. European markets dropped in early trade. Asian markets fluctuated throughout the day after rising last week [...]

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