The Colbert Report: Michael Lewis

Michael Lewis says people will eventually blame Barack Obama for the financial crisis.

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Bill Maher Predicted Current Economic Crisis in 2005

He was spot on predicting the incoming financial crisis fueled by Republican controlled Congress and their lack of financial oversight and restraint.

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Retail Sales Drop by Largest Amount on Record

Retail sales plunged by the largest amount on record in October as the financial crisis and the slumping economy caused consumers to sharply cut back on their spending.

Tags: Retail Sales Drop by Largest Amount on Record, crisis on wall street, financial crisis, inflation

The Young Turks - Wall St. Bailout Is In Need Of Oversight

It's very sad that 280 billion of the 700 billion dollar bailout fund has spent and Bush nor Congress has acted yet to produce oversight on how and why the money is being spent.
It's like we the taxpayers are being fleeced and no one on Congress seems to care.

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Paulson: Troubled Assets Will Not Be Purchased?

Treasury Secretary Henry Paulson says that the $700 billion government rescue program will not be used to purchase troubled assets as originally planned.

This again backs up my arguments that this whole $700 bailout is a joke and is a final going away present from the lame duck Bush White House to his financial friends on Wall Street.

GW basically sat on his hands and allowed this crisis to happen and then he decided to fleece taxpayers while giving away trillions to those who put him in power.

Tags: Paulson- Troubled Assets Will Not Be Purchased, Hank Paulson, Wall Street Bailout, crisis on wall street, financial crisis

Foreclosure Angel: Stranger Buys Foreclosed House at Auction and Gave it back to Owner!

A woman buys a stranger's foreclosed home... and gives it back to her. WFAA has the story.

Stranger buys foreclosed home and gives it back to homeowner

Foreclosure Angel Saves Stranger's Home

Marilyn Mock Says 'People Need to Help Each Other'

By JONANN BRADY

Tracy Pottsboro lost her job and then her home when she couldn't make mortgage payments. On Saturday, she watched as her home was auctioned off in Dallas.

"The final farewell to my house," Pottsboro said. "It means so much to all of us. It's not just a house."

Auctions on foreclosed houses are an opportunity for some and agony for those who've lost their homes.

From July through September of this year, more than 2,700 Americans lost their homes to foreclosure every day, according to The Associated Press. In Texas, almost 9,200 homes entered the foreclosure process in September.

On Saturday, Pottsboro took her seat among the crowd, waiting for house No. 73 to be called.

Marilyn Mock, a small-business owner from Rockwall, Texas, had accompanied her son, who was interested in buying a house, to the auction that day.

Mock was sitting near Pottsboro and noticed that she was upset.

"She was crying, and I asked her what is she upset about, and you know, she lost her house," Mock said.

When the No. 73 came up and the auction began, Mock said she asked Pottsboro, "Is it worth it?"

"She said yes. & I just kept taking her word," Mock said.

Mock ended up winning the auction, with a bid of about $30,000. And just like that, Pottsboro's sad goodbye turned into welcome home.

Mock told "Good Morning America" that she will take out a bank loan to finance about half the cost and will let Pottsboro and her family live in the house and make payments to her instead of the bank. She said she will pay for about half the house upfront.

Mock was straightforward about her motive. "People need to help each other, and that's all there is to it," she said.

Pottsboro was moved to tears by Mock's random act of generosity. "Nobody's done anything like that for me before, and I hope that I can repay the favor," she said.

Mock said her son and husband have come to expect these "crazy" things.

"When I came home and I said, 'Well, honey, guess what?' He just goes, "OK, whatever.' He's used to it," Mock told "GMA."

"I do a lot of things, you know, loan money out and give to somebody -- you see somebody in need, you give them money," she said. "Or you see somebody in the grocery store, they don't have enough money to pay for it, I'm usually the one behind saying here, here's $20 or something."

Tags: Foreclosure Angel- Stranger Buys Foreclosed House at Auction and Gave it back to Owner, foreclosure, housing bubble, housing crisis, financial crisis

60 MINUTES: CREDIT DEFAULT SWAPS

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Steve Kroft examines the complicated financial instruments known as credit default swaps and the central role they are playing in the unfolding economic crisis.

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Steve Forbes: Federal Reserve - Intentionally Causing Economic Crisis!

It's nice to see the Federal Reserve is good for something, creating total economic chaos.

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Crisis as Catalyst for Latin America

Americas columnist Mary Anastasia O'Grady tells James Freeman the financial crisis could be a blessing in disguise for some Latin American countries.

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Ron Paul- 'We're going to all suffer and pay' for the bailout

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Bush: Aggressive Action Needed to Save Banks

In his weekly radio address, President Bush defends the government's plan to buy stakes in U.S. banks, saying this is necessary to prevent a sharper financial fall-off.

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Gordon Brown On International Regulation For The Global Economy

Gordon Brown answers questions on the future of the economy, bankers bonuses and global co-operation

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Stocks Fall 733 Points on Economic Woes

Despair over the economy sent Wall Street plunging again Wednesday, propelling the Dow Jones industrials down 733 points to their second-largest point loss ever.

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Wall Street Bailout - "Fake Money-Palooza!"

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US Stocks Extend Huge Losses

Wall Street extended its devastating losses Friday, but prices swung sharply as investors scooped up shares decimated by more than a week of intense and panicked selling.

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Wall Street Bailout

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Rep. Brad Sherman Martial Law

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BAILOUT BILL SELLS US TO CHINA

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O'Reilly Blasts Barney Frank On Fannie Mae Mess

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Stimulus and Bailout

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