Christmas morning dawned gloomy and cold over the rebel camp. The low, overcast sky promised drizzle, or worse, by afternoon. The temperature, hovering just above freezing the past few days, was now dropping rapidly. The weather conditions did not improve the mood of the soldiers who, having skewered chunks of meat with the ramrods from their flint-lock firearms, were squatting around low campfires preparing the morning's repast.
Using terror and famine, Josef Stalin murdered millions in the Ukraine. Walter Duranty, the Pulitzer Prize-winning journalist, and the New York Times covered up the massacre.
Following a roller coaster day on Wall Street that saw the Dow close under 10,000 for the first time in years, the Federal Reserve has announced that it will invoke emergency powers under which it will buy billions in commercial paper — short-term debt instruments — in order to provide credit to companies other than those in the financial sector that have been stung by the collapse of the credit market.
By some estimates, the U.S. has lost 6 million jobs during the current economic recession began in December 2007. Now, President Obama is planning to tap into the $787-billion stimulus package to create what his administration believes will be 600,000 new job
Speaking in Green Bay, Wisconsin, on September 19, Republican presidential candidate John McCain said he would create a new federal agency, called the Mortgage and Financial Institutions Trust (MFI), that would work to head off the financial crisis.
The New York Times will stop publishing its print edition sometime in the future. That's the word from Arthur Sulzberger, publisher of the Times.
In a major restructuring of its operations, USA Today, published by Gannet Co., Inc., has announced that it will lay off 130 employees in an effort to reorient itself and publish more content in digital form, as opposed to print.
On the heels of dismal second quarter results, mortgage finance giant Freddie Mac is asking for more taxpayer money to continue operations.
Years of big spending by politicians at all levels have left the nation vulnerable to economic turmoil. While at the federal level this is masked to a degree by manipulation and inflation of the money supply, among other factors, local and state governments have no such luxury, and many are struggling to find ways to pay increasingly high expenses. Increasingly, the onus is falling on taxpayers in the form of increased and burdensome taxes, and on public-sector employees who face reductions in benefits, and possibly layoffs.
In a move heralding the Obama administration’s most aggressive intervention in the business sector to date, the federal government has forced GM CEO Rick Wagoner to step down. The change in leadership was announced by GM in a statement released in Wagoner’s name on Monday. In it, the former CEO said the government asked him to leave. “On Friday I was in Washington for a meeting with administration officials,” Wagoner begins. “In the course of that meeting, they requested that I ‘step aside’ as CEO of GM, and so I have.”