President Obama’s Passover and Easter Message

This week, President Obama touches on some of the world’s problem’s including the economy, climate change, security threats, and more. 

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President Obama addresses the nation – April 4, 2009

This week,  Obama discusses his trip to the G20 summit and his meetings with several leaders across the globe.  Some of the key points include:
Economic recession is a global problem and will require a glocal response to grow the economy and create new jobs. 
Terrorism and climate change are also global issues that will require [...]

New GM CEO to employees – restructure quickly or face bankruptcy

New GM CEO, Fritz Henderson, told employees today that the company must significantly accelerate its turnaround plan or the company will soon be in bankruptcy.  Henderson also told employees that the Obama administration did not feel that GM’s cuts were not deep enough for the plan to be able to work. 
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US rejects auto reorganization plans from GM and Chrysler

The Obama administration’s auto task force has rejected the plans for reorganization from GM and Chrysler.  The Obama administration’s auto team also forced the resignation of GM CEO, Rick Wagoner, and says that bankruptcy may be the best option for the automakers.
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General Motors CEO to step down

According to the attached article, Rick Wagoner, plans to step down immediately at the request of the White House.   The news comes just before the Obama administration plans to announce additional restructuring plans aimed at saving the company. 
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Mr. Subprime – Phil Gramm

Right wing commentators are quick to blame Congressman Barney Frank and Senator Chris Dodd for the subprime mortgage meltdown.  They argue that Frank and Dodd’s opposition to more regulations on Fannie and Freddie back in 2003 was what led to this mess.
Even though there is merit to placing some of the blame on Dodd and Frank for [...]

Congressman Barney Frank has selective memory

The attached video shows Barney Frank stating his opposition to the Bush Administration’s proposal for new regulations on Fannie Mae and Freddie Mac back in 2003.

The next video is a confrontration between Congressman Frank and conservative commentator, Bill O’Reilly.  In this video, the Congressman blames the Bush administration for opposing regulatory [...]

Business as usual for AIG

In spite of losing over $60 billion in the last quarter of 2008 and receiving $170 billion in taxpayer bailout money to keep operating, AIG plans to distribute $165 million in bonuses to a select number of employees.  The company’s Chairman, Edward Liddy, says that the company is contractually obligated to pay these bonuses.  The [...]

Obama says that he’s no socialist

President Obama told business leaders this week that he strongly supports the free market system.  In his speech, he said that the role of government is to help “right the ship”  and then leave the private sector alone.
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Obama and Geithner get failing grades from economists

The Wall Street Journal has published the results of a survey of economists.  Many of the economists surveyed gave the President a low grade on how he’s handling the economy and Treasury Secretary, Tim Geithner, fared even worse. 
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