“Home prices in 20 U.S. cities fell 19 percent in January from a year earlier, the fastest drop on record, as demand plummeted and foreclosures rose.” Enough said.
Monthly Archives: March 2009
6 in 10 Back Obama’s Handling of Economy
According to a new Washington Post-ABC News poll, the “number of Americans who believe that the nation is headed in the right direction has roughly tripled since Barack Obama’s election, and the public overwhelmingly blames the excesses of the financial industry, rather than the new president, for turmoil in the economy.” At this early stage in his presidency, Obama continues to benefit from a broadly held perception that others should bear the bulk of responsibility for the severe economic...
GM’s Wagoner Resigns with $20M Retirement
Via The Blotter… According to GM’s financial filings, Rick Wagoner “will leave his post as CEO of bailed-out General Motors with a $20 million retirement package.” Although the Treasury Department has barred GM from paying severance to Wagoner or any other senior executive, Wagoner is eligible to collect millions in retirement benefits from his former employer, according to the documents reviewed by ABC News. Yep… Under his leadership, “GM lost tens of billions of dollars, took billions in taxpayer-financed...
Spring Donation Drive Reminder
Just a reminder to readers… In the midst of the economic mess America is in, I find myself reaching out to readers to ask something I rarely ask for here: Donations to keep us afloat. Ad revenue has dropped considerably due to the economy and our web hosting yearly bill is due in a few days. If you are regular reader here, or just passing through please consider donating to support The Dem Daily and the efforts here to bring readers...
Obama Gets Tough with Auto Industry
The Obama Administration has decided to play hardball with the auto industry. In a White House speech just a short time ago, President Obama unveiled a new plan to help the auto industry, and he said that the auto industry failure “is not the fault of its workers but a “failure of leadership” in Washington and Detroit.” Obama rejected “requests for almost $22 billion in new taxpayer bailout money for General Motors Corp. and Chrysler, saying the car makers...
Health Insurers Blacklist Those with Certain Ailments
Via a tip sent to me by email… Just another reason why we need universal healthcare: Insurers shun those taking certain meds. Trying to buy health insurance on your own and have gallstones? You’ll automatically be denied coverage. Rheumatoid arthritis? Automatic denial. Severe acne? Probably denied. Do you take metformin, a popular drug for diabetes? Denied. Use the anti-clotting drug Plavix or Seroquel, prescribed for anti-psychotic or sleep problems? Forget about it. It is critical we keep the pressure...
Torture Produced False Leads
The WaPo has a 4 page expose today on the fact that the waterboarding and ”rough interrogation of Abu Zubaida produced false leads.” It’s really quite a read: When CIA officials subjected their first high-value captive, Abu Zubaida, to waterboarding and other harsh interrogation methods, they were convinced that they had in their custody an al-Qaeda leader who knew details of operations yet to be unleashed, and they were facing increasing pressure from the White House to get those secrets...
Ending Booms and Busts
Treasury Secretary Tim Geithner made the Sunday talk show rounds this morning discussing the economic “mess”, the AIG bonus debacle and “his plan to involve private investors in the government’s effort to help banks clean up their “toxic assets.”’ Geithner had been under fire of late and had become the Obama administration’s “whipping boy,” but he’s now bouncing back to be the “comeback kid,” as ABC’s “This Week” host George Stephanopoulos noted this morning. Geithner told Stephanopoulos, “We’re facing, still, a...
Recent Comments