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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Foreclosed Home Front: One Mother’s Struggle

By  Steven Greenstreet on Oct 17, 2008

Today Jocelyn Voltaire will lose her home . . . unless bloggers and activists can intervene.  On Wednesday, ANP reported on the economic plight of people in Hempstead, NY, the location of the third and final presidential debate between Barack Obama and John McCain.  Jocelyn's story in particular inspired an outpouring of support on the web.   Jocelyn fell victim to a predatory loan that ANP has traced back to Goldman Sachs, the Wall Street firm whose CEO, Lloyd Blankfein, made over $70 million last year.  We will continue following this story.

No Debate: Hempstead is Struggling

By  Steven Greenstreet on Oct 15, 2008

Today a horde of journalists descends on Hempstead, NY, to cover the third and final presidential debate. ANP left the pack to hear from people outside of the media spotlight, people hit hard by our nation's crises at home and abroad.

Cutting back in Quakertown, PA

By  Mike Fritz on Oct 10, 2008

All over the country Americans are spending less because of the sputtering economy. McClatchy Newspapers and the American News Project talked with locals at a diner in Quakertown, hoping to see how this eastern Pennsylvanian town is coping with the ongoing credit crisis.

Fallout on Main Street: Shops Feeling the Pinch

By  David Murdock on Oct 07, 2008

In Greenwich, Connecticut, those who depend on financial market clientele are already seeing a drop in sales, and they are hoping the bad times won't get worse.

Dow Still Shaky on First Day of Trading After Bailout

By  Mike Fritz on Oct 07, 2008

The Dow Jones closed 369 points down on the first day since Congress approved a $700 billion bailout. It marked the first time the Dow has fallen below the 10,000 mark in four years, spiking further fears that a recession maybe looming.

Fallout on Main Street, Part One: Greenwich, CT

By  David Murdock on Oct 05, 2008

People all across the country are suffering the fallout from Wall Street's financial H-Bomb. ANP producers David Murdock and Mike Fritz and McClatchy Newspaper journalist Tony Pugh hit the road to see how the nation is coping.

Pain on Main Street

By  Garland McLaurin on Sep 25, 2008

While lawmakers negotiate on Capitol Hill over the $700 billion-taxpayer bailout for banks and lenders on Wall Street, the foreclosure machine continues to crush homeowners caught in the mortgage crisis. Beyond the politics of Washington, one thing seems clear to many homeowners on the verge of foreclosure, there is no significant relief in sight from the government or Wall Street.