Housing Crisis | American News Project

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.

Viewpoint: Economist Dean Baker on the Bailout Panic

By Steven Greenstreet on Oct 01, 2008

Economist Dean Baker shares his thoughts on the bailout panic during a public panel held at the Institute for Policy Studies on September 30, 2008. Dr. Baker is the co-director of the Center for Economic and Policy Research in Washington, DC, and a columnist for The Washington Post and Atlantic Monthly.

Byron Dorgan’s Crystal Ball

By Lagan Sebert on Oct 01, 2008

Many experts point to the 1999 Financial Modernization Act as a cause of our current financial crisis. Senator Byron Dorgan opposed the act then and predicted our current crisis. More recently he has questioned the $700 billion bailout plan.

Pain on Main Street

By Garland McLaurin on Sep 25, 2008

While lawmakers negotiate on Capitol Hill over the $700 billion-taxpayer bailout for banks and lenders on Wall Street, the foreclosure machine continues to crush homeowners caught in the mortgage crisis. Beyond the politics of Washington, one thing seems clear to many homeowners on the verge of foreclosure, there is no significant relief in sight from the government or Wall Street.