FROM Justin Fox
Government Issues Gloomy Report on Household Incomes The Census Bureau today reported that 2.6 million people dropped below the poverty rate last year and that 1 million lost their employer-provided healthcare. But another figure may be ever more dramatic: household income in 2008 was $50,000, $2,000 less than it was in 1999. Justin Fox, who writes the " Curious Capitalist " blog for Time magazine, is author of the new book, The Myth of the Rational Market .
Geithner, Bernanke Run into a Buzz Saw on Capitol Hill Treasury Secretary Tim Geithner told Congress today he wants new powers to regulate companies like AIG and eliminate threats to the financial system. But he and Fed Chairman Ben Bernanke ran into hostile questioning from the House Committee on Financial Services. Justin Fox, business columnist for Time magazine, writes the Curious Capitalist blog.
World Markets Swing Widely as Finance Ministers Meet On the last day of one of the worst weeks in stock market history, the Dow Jones Industrial Average has careened back and forth between losses and gains today. President Bush, who tried to be reassuring by listing the many dramatic measures being taken to cope with the crisis, will meet this weekend with economic ministers from around the world. Business columnist Justin Fox writes the Curious Capitalist blog for Time magazine.
The Wall Street Protection Bankruptcy Plan At the White House this morning, President Bush stood with the Treasury Secretary, the head of the Federal Reserve and the Chair of the Securities and Exchange Commission. He described this " pivotal moment for America's economy " as one which had begun in the credit and subprime-mortgage markets only to "spread throughout our financial system." Time magazine says Washington is preparing the " mother of all bailouts " in an article written by Justin Fox.
White House budget proposal slashes and burns President Trump's first budget request is considered dead on arrival in Congress — a familiar development in Capitol Hill. We hear what it reveals about the priorities of the new administration. What's likely to die… and what might survive?
Terrorism and tweets, hate speech and murder Just days before an election, Britain is coping with a rash of deadly terrorism, and Prime Minister Theresa May is on the defensive. And again today, President Trump has tweeted criticism of the Mayor of London. Later, a double murder in Portland, Oregon has revealed the ugly past of a supposedly “progressive” city. One immediate question: is “hate speech” protected by the First Amendment?
Trump's 'America First' goes missing abroad In the Middle East, President Trump is changing some policies of the Obama Administration—and reversing his own campaign attacks on Islam as a religion that "hates us." We hear about his visit to Saudi Arabia and what's at stake for the rest of his foreign excursion.
Ex-FBI Director Comey tells his side of the story Today, former FBI Director James Comey came close to calling the President who fired him a liar. The White House denied the claim and called it insulting, but Republican Senators did not challenge Comey’s truthfulness. Many questions remain: did the President try to obstruct a federal investigation? Later, we’ll go behind the “velvet rope” for a look at 5-Star health care for the richest Americans.