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.
After Syria strike a new Trump doctrine emerges The President who promised an end to entanglements in the Middle East and snuggled up to Vladimir Putin has now outraged Russia with surprise missile attacks on Syria. That's raised questions about who's running the White House? We hear a variety of answers.