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Bidenomics is Working!! 😳 ["We are proud of Bidenomics!" - Kamala Harris]

9.8 Percent and Rising by: Sarah Carlsruh, October 13, 2009 The House Republican Policy Committee invited top economists to its Summit on the Economy and Unemployment on September 30th to address the question on so many Americans minds: What went wrong with the economy? Representative Mike Pence (R-IN), House Republican Conference Chairman and co-sponsor of the summit with Rep. Thaddeus McCotter (R-MI), addressed the disconnect between “the priorities here in D.C. and the priorities of the American people,” such as the gulf between what politicians say about the stimulus bill and its actual performance. “Apart from our national defense,” stated...

BEIJING: Fund managers associated with the Chinese government have indirectly confirmed they were interested in picking up the stakes, probably at distress prices, in Morgan Stanley, which is battling for survival. But they worry that the US government will block any such move by the newly created China Investment Corporation. CIC already owns 9.9% of Morgan Stanley, which analyst say gives it a better position to compete for ownership of Morgan as compared to another bidder, Wachovia Corp. The Chinese government had allocated $200 billion as base capital while creating the CIC a year back. Its main mandate is to...

The Bush administration is urgently preparing a massive intervention to revive the U.S. financial system, including a plan to sweep away the unpaid loans that are choking banks and blocking the flow of money to borrowers. Congressional leaders gave bipartisan support to the administration's efforts after a meeting last night with Treasury Secretary Henry M. Paulson Jr. and Federal Reserve Chairman Ben S. Bernanke. Paulson and Bernanke presented a "chilling" picture of the state of the financial system, according to a participant in the meeting who spoke on condition of anonymity. Lawmakers were told that the consequences would be grave...