Date: 2/16/2009 By EILEEN ALT POWELLAssociated Press Writer NEW YORK (AP) — When Amy Sokoloff and John Powell were trying to start their art restoration business in New York City, they needed some working capital. But banks weren’t willing to…
Analysis: Nobody wants blame in automakers’ crisis
Date: 12/5/2008 By DAVID ESPOAP Special Correspondent WASHINGTON (AP) — Not surprisingly, neither the outgoing Bush administration, President-elect Barack Obama nor the Democratic leaders of Congress wants to be blamed for the loss of a once-proud domestic auto industry and…
Federal deficit could hit $1 trillion this year
Date: 11/25/2008 By JIM ABRAMSAssociated Press Writer WASHINGTON (AP) _ The federal government’s ledger has gone from a surplus just seven years ago to facing a prospect of a $1 trillion deficit next year. Given those dire financial straits, President-elect…
For Depression survivors, meltdown means reminder
Date: 10/29/2008 By MEGAN K. SCOTTAssociated Press Writer NEW YORK (AP) _ The words have been repeated over and over: This is the worst financial crisis since the Great Depression. For those who lived through that turbulent time, the statement…
White House to banks: Start lending now
Date: 10/28/2008 WASHINGTON (AP) — An impatient White House prodded banks and other financial companies Tuesday to quit hoarding billions of dollars flowing into their vaults from Washington and start making more loans. Hoping to thaw the credit freeze that…