Counterpunch Early on the morning of July 30, President Bush signed the act that the Senate had passed at a special session the previous Saturday. The new “housing act” (a more honest title would have been the “Financial Bailout Act of 2008”) authorizes the Treasury and Federal Reserve Board to provide unlimited credit to...
Monthly Archives: July 2008
A Black Agenda Report: The Fictitious Economy, Part 2
Transcript of a A Guns And Butter Interview by Bonnie Faulkner originally broadcast on KPFA radio. In the second half of an hour long interview with economist Dr. Michael Hudson broadcast on Guns And Butter June 25, 2008, Dr. Hudson explains some of the factors in the price of oil that are seldom discussed...
Rewarding the Bubble's Enablers: Why the Bail Out of Freddie Mac and Fanny Mae is Bad Economic Policy
A Counterpunch Special Report I am writing this article about Fannie Mae and Freddie Mac while sitting in the Queens Botanical Garden. This was not my plan today. The central air conditioning in my apartment broke down six weeks ago and still has not been fixed. (It’s a nice condominium building, but accidents happen.)...
Getting to the Heart of America's Economic Crisis
A Counterpunch interview by Mike Whitney Mike Whitney: Before John Kennedy took office, anyone making an income of over $200,000 was taxed at a rate of 93 per cent. Corporations also paid a much higher percentage of the total tax burden than they do today. The higher tax rates on the wealthy never hurt...
Books by Michael Hudson
