Archive for July, 2009
Dodd may snub lobbyists, but not their cash
Sen. Dodd, D-Conn., boasts about angering lobbyists but cashes in with their campaign checks. WASHINGTON (AP) — Facing the toughest re-election fight of his nearly 30 years in the Senate, Sen. Christopher Dodd boasts about snubbing lobbyists. Yet even as he touts his independence, the embattled Connecticut Democrat is still cashing lobbyist campaign checks and [...]
CIT Group is in advanced talks seeking federal aid
NEW YORK (AP) — In a sign the financial crisis is not yet over, CIT Group Inc., the No. 1 lender to small and mid-sized U.S. businesses, is holding advanced talks with the government about receiving emergency federal assistance, officials said Monday. A main focus of the negotiations, which involve the Treasury Department and other [...]
Stimulus Will Kick in Later this Year: President Obama
President Barack Obama said Saturday more time was needed for his $787 billion stimulus package to work, predicting the spending would have a bigger impact on the economy later this year. In an advanced text of his weekly radio speech, Obama said the stimulus plan approved by Congress and signed into law in mid-February “was [...]
White House Eyes Bailout Funds to Aid Small Firms
The Obama administration is developing an initiative to take money from the $700 billion rescue program for the banking system and make it available to millions of small businesses, which officials say are essential to any economic recovery because they employ so many people, according to sources familiar with the plan. The effort would represent [...]
US Home Prices Seen Falling 40% Overall: Analyst
U.S. housing prices will fall by a double-digit percentage from already beaten-down levels, resulting in an overall 40 percent plunge by the time foreclosures peak in the second half of 2010, Barclays Capital economist Michelle Meyer said. Meyer issued her forecast two days after the Standard & Poor’s/Case-Shiller Home Price Indexes showed for April an [...]