Paulson said he would discuss with his counterparts in G7 countries what more can be done collectively to stabilize the financial system. He said he will be calling for a meeting of the G20, which includes countries with emerging economies.

The famous school of economics at the University of Chicago led by the late Milton Friedman spread its market fundamentalism worldwide. Greed, selfishness, individualism and short-termism were conflated with freedom and democracy and elevated to the stat

I'm sure this retreat at the St. Regis Resort Monarch Beach is going to do wonders for our moribund economy. Revealed during a hearing on AIG at a House Committee on Oversight and Government Reform Committee, Sen. Henry Waxman and others blasted AIG.

Chairman of the Federal Reserve Ben Bernanke says the economic outlook is growing worse. On Wall Street: a 330-point slide in the Dow Jones Industrials. Bank of America lost 18% of its value today. Will a cut in the interest rate stem the flow of red ink?

Despite the Miracle of the Sacred Bailout, the world economy is shattering & sinking. Now the Federal Reserve has a new brainstorm: "Hey kids, let's buy vast amounts of unsecured short-term debt that companies use to finance their day-to-day activities!"

California is apparently in dire straits - so much so that AHnald has sent a letter to Treasury Czar Henry Paulson with feelers for $7 billion dollars from the Feds. Hey, where do we get in line?

MORE than the bottom 150 million Americans combined. 400 rich Americans have got more stashed away than half the entire country! Their combined net worth is $1.6 trillion! Should We the People bail them out?

In this article, the pros and cons, as well as the likelihood and feasibility, of returning to the gold standard will be set aside. The analysis is based on a gold standard in which all paper currency is theoretically backed by gold.

Apparently both houses of congress have reached a substantial agreement on a "modified" Wall Street bailout plan...but there are some Republicans who deny there is a bipartisan deal. Straight from the Wall Street Journal...

The CEOs of Ford, Chrysler & General Motors met Wednesday afternoon with House Speaker Nancy Pelosi. The topic on the table? Federal rescue of the ailing automakers in the form of $25 billion in loan guarantees from Uncle Sam. It seems they came away :).