Congress Ignored Critical Bailout Oversight

By  Lagan Sebert  Danielle Ivory on Dec 19, 2008

On December 19th, Henry Paulson urged Congress to release the second half of the $700 billion of the bailout money. But no one seems know what banks have done with the first $350 billion. Despite the fact that Congress wrote more than one hundred pages about oversight in the bailout bill, they left a gaping hole.

Bank Eat Bank: Bailout Encourages Mergers

By  Danielle Ivory  Lagan Sebert on Nov 21, 2008

With newfound bailout money in their wallets, big banks have been rushing to gobble up smaller ones. At the center of these mergers is the Treasury Department, led by Goldman Sachs alums Henry Paulson and Neel Kashkari. While neglecting struggling homeowners they have created major incentives for widespread bank consolidation, which could lead to a host of new problems. And, as members of Congress recently noted, Treasury officials seem to be making the rules up as they go

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Democrats Shield Automakers From Legacy of Bad Decisions

By  Garland McLaurin on Nov 13, 2008

Dismal auto sales and all-time stock lows may obliterate the Big Three. So the automobile lobby is back on Capitol Hill warming up to some of their best friends - Democrats - to secure $25 billion in loans. The question is: what will the money be used for and will there be strings attached to make better, greener cars.

A Market-Based Mindset

By  Danielle Ivory on Sep 23, 2008

Recently, the Bush administration proposed what could be the largest government bailout of private industry in the history of the United States. The architects of the proposal, Treasury Secretary Henry M. Paulson Jr. and Federal Reserve Chairman Ben S. Bernanke, are set to testify before Congress. ANP caught up with Charlie Cray, Director and Policy Analyst at the Center for Corporate Policy, who spoke about the philosophical underpinnings of the current economic meltdown.