AIG hearing heating up…

The CEO of AIG has not testified yet, but considering the way the hearing is heading, the chances of AIG getting another bailout any time soon are becoming clear…
“We’ve got a whole bunch of people lined up that want another bailout.  Forget it, as far as I’m concerned, forget it.  We’ve gotten so little cooperation [...]

A.I.G.: Ain’t Gettin’ Better

Janes, today we followed the Senate Banking Committee hearing on what happened to A.I.G. and what we’re all supposed to do to save it, and the global economy, from itself.  In the words of Sen. Chris Dodd, the discussion was “very troubling.” 
We posted a few Tweets live during the proceedings, but here’s what was said:

AIG [...]

Taking A Look at the New Budget

This morning the White House released the Obama administration’s ambitious new budget blueprint for fiscal year 2010, which aims to halve the deep federal deficit by the end of Obama’s first term. The entire budget is 146 pages long, so since we know you’re busy women, we’ll give you the Cliffs Notes version. Unless you [...]

Modification, Modification, Modification

If your neighborhood looks less like Wisteria Lane and more like Under Water World, you are just the homeowner President Obama will be talking to later today when he unveils his plan to tow the underwater real estate market back to dry land.
Will it work?  Who knows.  But here’s what it is, and what [...]

A jolt for your economy?

Your 401k is exhausted and your checking account is dragging a little, too.  Will the much-ballyhooed stimulus stimulate anything in your world?  The answer is maybe, depending on who you are.
This bill will help you directly if you are:

Receiving a paycheck- you’ll see a $400 tax credit.
Not receiving a paycheck- unemployment benefits are increased and [...]

Desparately Seeking Susan

After two months of talk, up to $920 billion of proposed spending and tax cuts, one bi-partisan White House cocktail party and three weeks of heavy duty back-and-forth, the fate of the entire stimulus package seems to be coming down to one woman:  Sen. Susan Collins, a Republican  of Maine.
Collins, a former Capitol Hill staffer [...]

Stimulus to Stimulate Homebuyers’ Bottom Lines

Janes, if you were going to buy something big this year, what would it be?  If you said a house, you’re in luck, and we do mean luck.  The Senate has approved a measure to give you a $15,000 tax credit if you buy a home in 2009.
Here’s the fine print:

The credit is $15,000 OR [...]

Hey, what’s under that TARP?

If you feel like the Toxic Asset Relief Program, aka “the TARP”, aka the “bailout”, has been long on zeros and short on details, help is on the way.
The Treasury Department has begun posting the TARP contracts that the government signed with banks, AIG, GM and Chrysler on its web site as a part of [...]