financial consultant and blogger
Financial consultant and blogger at Naked Capitalism
PROFILE
Yves Smith
Guest
FROM Yves Smith
To the Point
'Nationalizing' America's Banks: Rumors and Realities Talk of "nationalizing" America's biggest banks, like Citigroup or Bank of America , has frightened investors and caused bank stocks to decline. The Obama Administration insists the banking system will remain private, but yesterday took steps that could lead to government ownership of troubled institutions.
Which Way, L.A.?
Will Washington Rescue Detroit's Big Three? The Big Three bailout passed the House but stalled in the Senate today, even after Barack Obama warned that collapse of the auto industry would have "a devastating ripple effect" throughout the economy.
To the Point
Will the US Get a 'Car Czar?' After a compromise between Democrats and the Bush White House, Congress passed the $14 billion Big Three bailout bill last night. Today Barack Obama said government can't stand by and watch the auto industry collapse, warning of what he called "a devastating ripple effect" throughout the economy.
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The 805
Free food for federal workers during shutdown Local federal workers are picking up free food as the government shutdown continues. More than 1000 PG&E workers in San Luis Obispo fear for their jobs as the utility declares bankruptcy.