NEW YORK TIMES: Six years after President George W. Bush began the auto bailout, the Obama administration on Friday declared a profitable end to the sweeping federal interventions in Wall Street and Detroit, saying a final sale of stock from General Motors’ former finance arm had closed a turbulent chapter of the financial crisis…
Tea Party, to many of its foot soldiers, stood for Taxed Enough Already, and the bailouts were assumed to be enormous drains on the federal Treasury. Yet in the end, the Troubled Asset Relief Program and the Detroit bailout yielded $15.35 billion in profit, Treasury officials said Friday…
While both the Tea Party and Occupy movements in many ways appeared to embody the political fringe on both sides of the political spectrum, they gave voice to millions of Americans who felt singed, cast aside and marginalized through the sins of corporate America. Conservatives and liberals were left feeling that Washington was willing to do whatever it took to save mega-banks and corporations, while letting the vast majority struggle with unemployment, declining wages, disappearing savings and houses worth less than their mortgages… (more)
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