James Jones has spent the past five years trying to prevent foreclosures in Cleveland. Recently, his work as director of foreclosure prevention at the East Side Organizing Project, a community organizing group dedicated to improving neighborhood life in the city, has focused on targeting predatory lenders and trying to prevent More…
After months of whining, a resignation letter delivered on the op-ed page of The New York Times and warnings of a massive corporate brain drain, only 16 executives have left bailed-out companies amid pay caps in the past two years. Pay Czar Kenneth Feinberg set pay More…
One year and one day after the Bush administration first offered to rescue GMAC, the Obama White House has announced a $3.8 billion bailout for the struggling auto- and mortgage-loan giant. From the Treasury Department’s statement:
Due to a variety of factors, including that
Remember when the Bush administration was opposed to tapping the $700 billion Wall Street bailout to help Detroit’s Big Three?
Fugetaboutit.
The Treasury Dept. announced last night that it will spend $6 billion from that fund to bail out GMAC, the flailing auto finance company whose reluctance to lend More…
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