When President Bush announced a government loan to General Motors and Chrysler last week, he called for the end of the jobs bank program, which provides benefits and partial wages for laid-off employees.
General Motors and Chrysler stand to receive $17.4 billion in federal loans if they can restructure their businesses toward profitability.
U.S. Senator Evan Bayh was in southern Indiana Thursday to talk about the economy.
I love words, the turn of a perfect phrase, when one word sums up a situation so perfectly there is no need to say anything else. But sometimes I have a love/hate relationship with words, especially when they are over used, misused or just plain wrong. In our time of 24 hour news coverage, a… Continue reading What's Your 2008 Word of the Year?
Kentucky Congressman John Yarmuth reluctantly supported the economic recovery package that cleared the Senate this week.
Lawmakers on Capital Hill are juggling the needs of the country with public outcry this week. Legislators have been arguing over the 700-billion dollars in taxpayer money to buy troubled assets that are weakening the country’s financial markets. It is widely unsupported by the general public, but the Bush administration insists it is necessary to… Continue reading Lawmakers Balance Politics With Public Opinion
A University of Louisville finance professor predicts that Cleveland-based National City Bank may be next for review if Congress doesn’t act quickly on a bailout bill. Professor David Dubofsky says the market doesn’t seem to have much confidence in National City. “If you look at the yields on the bonds that have been issued by… Continue reading National City Defends Its Strength
Louisville Congressman John Yarmuth says lawmakers on Capitol Hill aren’t being given enough time to consider the Bush Administration’s 700-billion dollar financial bailout plan. President Bush has asked Congress to act quickly on the plan, but Yarmuth says there isn’t enough time to fully vet such a large bill. He says there isn’t really even… Continue reading Yarmuth Says Congress Under Extreme Pressure on Bailout Bill
A University of Louisville finance expert says the bailout Congress is considering to boost the country’s financial markets is a good idea, but it will come with a steep cost. Professor David Dubofsky says news of a wide-sweeping government buyout of bad mortgage debt eased tensions in markets worldwide last week. “It was needed because… Continue reading Bailout is a Good Idea, says UofL Finance Expert