finance at Brave New Films

Taking the US bailout bill to the streets - 4 Oct 08

2008-10-07T14:52:19Z

US voters have mainly been disapproving of the financial bailout package, now passed by Congress, seeing it as using their tax dollars to cushion Wall Street executives.

Al Jazeera took Richard Wolf, an economics professor at University of Massachussetts, out on to the streets of New York to try to explain it all.

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Fixing the Credit Markets - Rescuing the Economy

2008-10-07T14:45:10Z

http://www.americanprogress.org/issues/2008/09/economic_recovery.html

In these tumultuous days, it is often overlooked that the fate of Wall Street is, in this particular case, especially intertwined with the fortunes of Main Street. The connecting link isn’t just a matter of stock market volatility, but rather underlying problems in the credit markets. Lenders on Wall Street, and those who provide lenders their capital, are unable or unwilling to lend or invest because of the mortgage crisis. If nothing is done, the already large and growing impact on the routine borrowing of businesses will become even more acute. Businesses will face problems meeting payroll, purchasing inventory, and making investments—consequences reaching far beyond Wall Street. Personal credit for auto loans, student loans, credit cards and, of course, mortgages will also become harder to come by.

The housing, mortgage, and financial mess have already ensnared the labor market. Jobs have declined for eight consecutive months in total non-farm employment. Not all job loss can be directly linked to the current financial mess, but it is safe to say that job losses have continued and the economy’s ability to mount a recovery is hampered by the turmoil. Since the start of 2008, the economy has lost a total of 605,000 jobs, while the unemployment rate hit 6.1 percent in August 2008, up from 5.0 percent at the end of 2007. The number of unemployed climbed to 9.4 million from 7.6 million over the same period.

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Japanese exports hit by global economic crisis - 1 Oct 08

2008-10-04T10:48:37Z

Japan's economy is heavily reliant on exports, but as the yen strengthens against the dollar it is getting harder to shift the goods.

Exporters are facing a slowdown in trade amid the global credit crunch and are having to examine other markets in order to remain profitable.

Al Jazeera's Marga Ortigas reports from Yokohama.

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Iran's president flexes political muscle - 1 Oct 08

2008-10-04T10:48:37Z

Mahmoud Ahmadinejad, the Iranian president, has dismissed the governor of the Central Bank and a recent cabinet reshuffle has led to a string of sackings and replacements.

Al Jazeera's Alireza Ronaghi reports from Tehran on the changes in the Iranian administration.

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Senate to vote on US bailout plan - 1 Oct 08

2008-10-04T08:47:44Z

The US Senate is due to vote on a new version of the $700bn bailout package, rekindling hopes that the credit crunch can be stemmed before it causes more damage to an already reeling economy.

Al Jazeera's Sebastian Walker reports ahead of the Senate vote.

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Bush warns bailout must be passed - 29 Sep 08

2008-10-04T00:48:05Z

The US president has moved to convince Democrats and his own Republicans to find a way to agree a rescue plan for troubled financial institutions after the bill was rejected by the House of Representatives.

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McCain: Our Economy's "Fundamentals are Strong"

2008-09-30T12:56:04Z

Since Dec 07 McCain has consistently claimed that our economy's fundamentals are strong at least 18 times. Never once alluding to the fundamentals = workers.

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Barrel Man & Friends Protest Bail Out

2008-10-07T14:42:47Z

Protests across Los Angeles against the proposed bail out of finance criminals with THE PEOPLE'S MONEY!! NO TO BAILING OUT CRIMINALS!!

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Once in a century rip-off

2008-10-07T14:50:52Z

More at www.therealnews.com
Economist Michael Hudson: the bailout is a giveaway that will cause hyperinflation and dollar collapse

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General Motors struggling amid US economic woes - 26 Sep 0

2008-09-30T00:49:46Z

Wall Street banks aren't the only ones asking for money from the US federal government.

Until recently General Motors was the biggest carmaker in the world.

It's been building new factories to build fuel-efficient cars to try to win back its position but it now needs billions of dollars just to keep its old factories open.

Tom Ackerman reports from Youngstown in Ohio.

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Bailout Campaign Day 3: Paulson and Bernanke in the House

2008-10-07T14:51:14Z

Treasury Secretary Henry Paulson, Jr. and Federal Reserve Chair Ben Bernanke made another public appearance on the Hill but the tone and tenor of this hearing varied greatly from the previous day's tense Senate grilling.

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Sarah Palin Talks Bailout Proposal

2008-10-01T12:49:23Z

Sarah Palin interviewed by Katie Couric on CBS Evening News, September 24, 2008

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President Bush Addresses Nation on Economic Crisis

2008-10-01T12:49:23Z

President Bush national address, September 24, 2008

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Charlie Rose - Barney Frank

2008-10-07T14:47:27Z

Barney Frank is one of the leading voices in Congress on the economy and government regulation. As chairman of the House Financial Services Committee, he will play a major role in the Bush Administrations proposed $700 billion bailout of Wall
Street. I recently spoke with him about the rescue plan and how Congressional Democrats plan to shape it.

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Is it Worthwhile to Publically Finance Campaigns? - Thomas Mann

2008-10-07T14:48:45Z

Complete video at: fora.tv

Thomas Mann addresses Barack Obama's decision to decline public funds for his campaign, arguing that the existence of Party Committees, PACs, and other independent groups essentially negate funding limits for any Presidential candidate.

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Thomas E. Mann discusses Financing American Elections: A Turning Point in 2008? as a part of Restoring Legitimacy to Our Election System during the 2008 Chautauqua Institution morning lecture series.

Thomas E. Mann is the W. Averell Harriman Chair and Senior Fellow in Governance Studies at The Brookings Institution. The author of numerous books on American government, and a contributor to major magazines and newspapers like Washington Post and New York Times, he is a fellow of the American Academy of Arts and Sciences and a member of the Council on Foreign Relations. Mann has served as co-director (with Ornstein) of the Transition to Governing Project and senior counselor (with Ornstein) to the Continuity of Government Commission.

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Taxpayers to bailout Wall Street

2008-10-07T14:50:53Z

More at www.therealnews.com
Danny Schechter: The bailout will preempt any new administration from following through on promisses

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An Economic Bailout Done Right - Center for American Progress

2008-10-07T14:45:11Z

http://www.americanprogress.org/issues/2008/09/fair_effective_graphic.html

http://www.americanprogress.org/issues/2008/09/handle_with_care.html

U.S. Treasury Secretary Henry Paulsons initial proposal for the giant Wall Street bailout would have given him, as secretary of the Treasury, the personal authority to spend $700 billion of taxpayers money to buy troubled financial assets on any terms he saw fit. He would then be authorized to sell these assets, also without limitation. Under his proposal, his actions are explicitly exempted from review by any court or administrative body.

Congress appears to be moving Paulson off these extreme terms, but any final deal should rest meaningful control, true decision-making authority, not in one person and certainly not with the secretary of the Treasury of an administration that, in large part, authored this crisis. Paulson along with the rest of the Bush economic policy apparatus—and in fact all of those who are ideologically resistant to a role for government in the economy—are deeply implicated in the mess were in. Whether we call it incompetence, gross negligence or ideology run amok, no action was taken as the economy, and the financial sector in particular, grew more and more dependent on a mass of untenable loans in over-valued assets.

Since that bubble began to burst they have dragged their feet in taking the kind of comprehensive action thats been needed—resisting congressional attempts to fix the housing market and calls by the Center for American Progress, among others, to jump in to stop the bleeding before it ever reached this stage. More aggressive action has been needed for months to preserve the value of homes for the benefit of homeowners, to protect the value which underlies the mortgage-related assets in the hands of investors, and to prevent the loss of so much value in our overall economy.

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Gallup Glance Around the Globe

2008-10-07T14:48:04Z

Data-driven insights into the proposed U.S. government bailout plan, the hotel bombing in Pakistan, main streets reaction to the U.S. financial crisis, and the resignation of South Africa's president.

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Inside Story - Financial crisis and Asia - 22 Sep 08 - Pt 2

2008-09-27T14:51:32Z

In a special programme from Kuala Lumpur Inside Story examines how the recent financial turmoil on Wall Street has affetced Asian markets and economies.

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Inside Story - The US financial crisis - 21 Sep 08 - Part 2

2008-09-27T06:48:21Z

In a special show from New York Inside Story looks at the financial turbulence that rocked the US last week.

Will the emergency measures by the US government be enough to stabalise the markets or has the fiancial system in the US been changed forever?

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Inside Story - The US financial crisis - 21 Sep 08 - Part 1

2008-09-27T06:48:21Z

In a special show from New York Inside Story looks at the financial turbulence that rocked the US last week.

Will the emergency measures by the US government be enough to stabalise the markets or has the fiancial system in the US been changed forever?

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A worrying week on Wall Street - 19 Sept 08

2008-09-24T04:49:41Z

The collapse of America's fourth largest investment banks and fears about the stability of other financial institutions have led to some on the most tumultuous days in Wall Street's history.

Al Jazeera's John Terrett reports on a week that has seen the Dow Jones index have its best and worst days in over half a decade.

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Wolf Finance

2008-10-07T14:33:44Z

Wealth Opportunity Leverage Finance, a Tennessee & California Financial advising company, commerical written/produced/shot by JAG Digital.

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Charlie Rose - Hank Greenberg

2008-10-07T14:47:28Z

A follow-up on AIG with Hank Greenberg, former chairman and CEO of American International Group (AIG), the world's largest insurance and financial services corporation.

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Charlie Rose - Barney Frank

2008-10-07T14:47:28Z

Rep. Barney Frank (D-MA) Chair, House Financial Services Committee discusses the current economic crisis

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