Financial Crisis | American News Project

Tax Havens: The Hidden Hand in the Financial Crisis

By Lagan Sebert on Jan 07, 2009

The financial crisis seems as if it emerged from nowhere and struck as hard and fast as lightning. How did so many financial institutions crumble with so little warning? There are many reasons, but one that has not been given much attention is how tax havens helped enable the mess - and how several of the big companies that have received billions of bailout dollars were also the most active in the shady world of offshore finance.

Foreclosed Mother Keeps Home... For Now

By Steven Greenstreet on Oct 22, 2008

Last week, ANP reported on the foreclosure of Jocelyn Voltaire in Queens Village, NY and the impending auction of her house. Since the report aired, a national grassroots effort to save her home was launched. In this piece, we report on the outcome of said initiative and delve deeper into a connection between Jocelyn's mortgage company and Goldman Sachs.

Fallout on Main Street: College Debt 101 in Bloomington, Indiana

By David Murdock on Oct 19, 2008

Is Sallie Mae poised to join Fannie Mae on the list of economic disaster stories? The rising cost of a university education combined with a flat job market is making it difficult for students and their families to pay off college loans. In Bloomington, Indiana many of those waiting tables and cleaning dishes at the famed Mother Bear's Pizzeria are Indiana University students working their way through school. Catching the rare free moment between orders, workers describe the stress they are feeling in these rocky economic times. The recent credit crunch at the banks and the chaos on Wall Street has already added to their worries - undercutting family credit records, draining stock funds, and causing some students to question what the future will hold.

Fallout on Main Street: Dark Days in Dayton, Ohio

By David Murdock on Oct 16, 2008

November '08 is not a good time to be looking for a job in Dayton, Ohio. ANP producers David Murdock and Mike Fritz continue their road trip with reporter Tony Pugh of McClatchy Newspapers in this episode, stopping in Dayton to hear from workers struggling to find a lifeline in tempestuous times.

Fallout on Main Street: Mailman Speaks His Mind

By Mike Fritz on Oct 10, 2008

A mailman who has worked in Quakertown, Pennsylvania for 23 years spoke with the American News Project and McClatchy Newspapers about how the nation's financial crisis has impacted both his own life and the people he encounters everyday.

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.

Flogging of AIG Execs

By Lagan Sebert on Oct 07, 2008

In the wake of the $700 billion bailout, the public is finally getting a look at the faces behind the financial crisis. On October 7, the Committee on Oversight and Government Reform grilled former AIG CEOs Robert Willumstad and Martin Sullivan. During the five-hour hearing the executives tried to dodge blame as congress members harshly criticized their management of AIG and questioned their compensation.