US Senator: AIG execs should consider suicide
WASHINGTON (AFP) — A prominent US Senator has suggested that top executives of the bailed-out insurer AIG ought to quit or kill themselves, which he described as the Japanese model of honorably taking responsibility. Senator Charles Grassley, the top Republican on the Senate Finance Committee, told a radio station in ...
The Looting of America's Coffers
By David Leonhardt / New York Times Sixteen years ago, two economists published a research paper with a delightfully simple title: "Looting." The economists were George Akerlof, who would later win a Nobel Prize, and Paul Romer, the renowned expert on economic growth. In the paper, they argued that several ...
A.I.G., Where Taxpayers' Dollars Go to Die
By Gretchen Mortgenson / New York Times "Derivatives are dangerous." That simple sentence, written by Warren Buffett, begins an enlightening discussion in Berkshire Hathaway's most recent annual report. Mr. Buffett's views on derivatives, gleaned from his own unhappy encounters with them, should be required reading for all United States taxpayers. ...
Fed Refuses to Release Bank Data, Insists on Secrecy
By Mark Pittman and Craig Torres March 5 (Bloomberg) -- The Federal Reserve Board of Governors receives daily reports on bailout loans to financial institutions and won't make the information public, the central bank said in a reply to a Bloomberg News lawsuit. The Fed refused yesterday to disclose the ...
Food Problems Elude Private Inspectors
By Michael Moos and Andrew Martin / New York Times When food industry giants like Kellogg want to ensure that American consumers are being protected from contaminated products, they rely on private inspectors like Eugene A. Hatfield. So last spring Mr. Hatfield headed to the Peanut Corporation of America plant ...
Top U.S., European Banks Got $50 Billion in AIG Aid
By Serena Ng and Carrick Mollenkamp / Wall Street Journal The beneficiaries of the government's bailout of American International Group Inc. include at least two dozen U.S. and foreign financial institutions that have been paid roughly $50 billion since the Federal Reserve first extended aid to the insurance giant. Among ...
Bernanke grilled on latest $30B bailout of AIG
By Jeannine Aversa / Associated Press WASHINGTON – Irritated lawmakers grilled Federal Reserve Chairman Ben Bernanke Tuesday over the latest bailout of American International Group, even as the Fed chief warned that an economic recovery hinges on the government's success in stabilizing shaky financial markets and their major players. "I ...
U.S. Is Pressed to Add Billions to Bailouts
by Edmund L. Andrews, Andrew Ross Sorkin and Mary Williams Walsh / New York Times The government faced mounting pressure on Monday to put billions more in some of the nation's biggest banks, two of the biggest automakers and the biggest insurance company, despite the billions it has already committed ...
After Losses, a Move to Reclaim Executives' Pay
By Gretchen Morgenson / New York Times SHOULD executives get to keep lavish pay packages when the profits that generated their compensation go up in smoke? As the financial crisis deepens, what might have been a philosophical question is now the topic of the day. With losses mounting at the ...
Treasury Overpaid for Bank Assets in Bailout, Oversight Panel Says
By Amit R. Paley / Washington Post The Bush administration received assets that were worth $78 billion less than the amount it invested as part of the massive infusion of capital into the country's banks, congressional investigators have found. The investigators concluded that the Treasury under the federal bailout had ...
Firms That Got Bailout Money Keep Lobbying
By David K. Kirkpatrick and Charlie Savage / New York Times WASHINGTON — The financial giant Bank of America says it is no longer lobbying the federal government about its unfolding bank bailout. After receiving $45 billion in bailout money, lobbying was just too unseemly. "We are very sensitive to ...
Report Finds Major U.S. Companies Have Offshore Tax Havens
By Carol D. Leonnig / Washington Post A majority of America's largest publicly traded companies and the U.S. government's largest federal contractors -- including some receiving millions in federal bailout money -- use multiple subsidiaries in offshore tax havens to conduct business and avoid paying U.S. taxes, a new report ...
Nationwide Inquiry on Bids for Municipal Bonds
By Mary Williams Walsh / New York Times The federal investigation that prompted Gov. Bill Richardson of New Mexico to withdraw his nomination as commerce secretary offers a rare glimpse into a long-simmering investigation of possible bid-rigging, tax evasion and other wrongdoing throughout the municipal bond business. Three federal agencies ...
White House Philosophy Stoked Mortgage Bonfire
By Jo Becker, Sheryl Gay Stolberg and Stephen Labaton / New York Times "We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home." — President Bush, Oct. ...
Ford resists pressure to cut CEO's pay
Wall Street Journal Ford Motor Co. is so far resisting pressure to cut the salary of its chief executive despite increasing scrutiny of top management at all three Detroit automakers seeking emergency help from the federal government. In a statement Wednesday, Ford said that its board of directors' compensation committee ...
The plan involves a $20-billion infusion and guarantees on hundreds of billions in bad loans. By Peter G. Gosselin / Los Angeles Times The federal government rushed to the aid of faltering banking giant Citigroup Inc. late Sunday night, agreeing to invest $20 billion more and accept the lion's share ...
Obama Unveils Team to Tackle 'Historic' Crisis in Economy
By Jeff Zeleny / New York Times CHICAGO — With the financial crisis looming as a priority of his term, President-elect Barack Obama sought to put his imprint on efforts to stem the turmoil as he introduced his economic team on Monday, nominating Timothy F. Geithner as Treasury secretary and ...
U.S. Offers Citigroup Expansive Safety Net
Aim Is to Restore Confidence in Critical Bank By Neil Irwin and David Cho / Washington Post The government said last night that it will provide a multibillion-dollar backstop for Citigroup, revamping emergency efforts yet again to head off the failure of a company more deeply intertwined with the financial ...
McCain, Obama clash over economic crisis
By Charles Babington / Associated Press NASHVILLE, Tenn. - Barack Obama and John McCain clashed repeatedly over the causes and cures for the worst economic crisis in 80 years Tuesday night in a debate in which Republican McCain called for sweeping action by the government to directly shield many homeowners ...
POWs feel affinity with McCain, but won't let it affect their votes
Some former war prisoners say that having been a POW does not qualify a person to be president. By Rob Johnson / Roanoke Times The admiration that former prisoners of war who live in Western Virginia have for Sen. John McCain runs deep. But their esteem does not translate into ...
Exxon Dethrones Wal-Mart on Fortune 500
By J.W. Elphinstone / Associated Press NEW YORK - Skyrocketing energy prices propelled Exxon Mobil Corp. to the top of the 2006 Fortune 500 list, and consigned Wal-Mart Stores Inc. to the No. 2 spot on the magazine's annual ranking of the nation's largest publicly traded companies. Fortune compiled its ...
Stocks Finish Lower as Oil Price Spikes
By Megan Davies / Reuters U.S. stocks fell on Wednesday as spiking oil prices reawakened concerns about increased corporate costs, but investors took reassurance from remarks by Federal Reserve Chairman Alan Greenspan that signaled no change in interest-rate policy. U.S. crude oil futures surged above $53 a barrel, a four-month ...
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March 23rd, 2013
This evening is going be a big moment in turning our country around on the issue of gun violence. That's why I desperately want you ...
March 21st, 2013
I am hosting a nationwide series of house parties this Saturday night where tens of thousands of people will gather together in living rooms to ...
March 15th, 2013
The response to my Newtown letter this week has been overwhelming. It is so very clear to everyone that the majority of Americans have had ...
March 13th, 2013
America, You Must Not Look Away (How to Finish Off the NRA)
The year was 1955. Emmett Till was a young African American boy from Chicago visiting relatives in Mississippi. One day Emmett was seen "flirting" with ...
February 26th, 2013
My Final Word on Buzzfeed and Emad Burnat's Detention at LAX
Thanks to everyone for bearing with me as I spend so much time on what happened to Emad Burnat. It's important to me because he's ...
February 26th, 2013
Michael Moore Responds to Buzzfeed Story on '5 Broken Cameras' Co-Director Emad Burnat
On Tuesday, February 19th, Emad Burnat, the Palestianian co-director of the Oscar-nominated documentary '5 Broken Cameras,' was detained with his wife and son at Los ...
February 20th, 2013
Last night was the Motion Picture Academy-sponsored dinner in Beverly Hills honoring the directors and producers of this year's five nominated films for Best Documentary. ...
September 11th, 2010
If the 'Mosque' Isn't Built, This Is No Longer America
OpenMike 9/11/10 Michael Moore's daily blog I am opposed to the building of the "mosque" two blocks from Ground Zero. I want it built on ...
December 14th, 2010
Why I'm Posting Bail Money for Julian Assange
Yesterday, in the Westminster Magistrates Court in London, the lawyers for WikiLeaks co-founder Julian Assange presented to the judge a document from me stating that ...
May 12th, 2011
Some Final Thoughts on the Death of Osama bin Laden
"The Nazis killed tens of MILLIONS. They got a trial. Why? Because we're not like them. We're Americans. We roll different." – Michael Moore in ...
November 22nd, 2011
Where Does Occupy Wall Street Go From Here?
This past weekend I participated in a four-hour meeting of Occupy Wall Street activists whose job it is to come up with the vision and ...
September 22nd, 2011
A STATEMENT FROM MICHAEL MOORE ON THE EXECUTION OF TROY DAVIS
I encourage everyone I know to never travel to Georgia, never buy anything made in Georgia, to never do business in Georgia. I will ask ...
December 16th, 2010
Dear Swedish Government: Hi there -- or as you all say, Hallå! You know, all of us here in the U.S. love your country. Your ...
November 2nd, 2010
This letter contains (almost) no criticisms of how the Democrats have brought this day of reckoning upon themselves. That -- and where to go from ...
'Dirty Wars' by Jeremy Scahill
Why have you started a comedy festival in northern Michigan in the middle of winter?
Because if you were here in the dead of winter in the middle of nowhere (which is actually somewhere to us), you'd need a few laughs too ... Continue Reading
Michael Moore on MSNBC with Michael Eric Dyson, 3/22/13
Michael Moore on Democracy Now!, 6/28/12
Michael Moore on the Rachel Maddow Show, 5/11/12
Michael Moore on MSNBC, Super Tuesday, 3/6/12
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Michael Moore on the Rachel Maddow Show, 2/27/12
