FORECLOSURE PREVENTION PROGRAM
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NEIL IRWIN'S MUST READS
The Washington Post staff share their picks for reading around the Web.
The Confidence Game Project Syndicate | Harvard Economist Kenneth Rogoff explains how people have reached the wrong conclusions from the collapse of Lehman Brothers--and argues that the unwinding of global economic imbalances has only begun.
How Will Unemployment Fare Post-Recession? Kansas City Fed | Federal Reserve Bank of Kansas City economists Edward S. Knotek II and Stephen Terry examine the evidence on what will happen to unemployment following the recession--and reach less than sunny conclusions.
WHAT WENT WRONG?
The Crash: Foreclosure Crisis
Those in trouble are not, primarily, lower-income borrowers. It's afflicting neighborhoods of every stripe -- but particularly communities created by the boom itself.
YOUR POCKETBOOK
Have a question about how the financial crisis is affecting your pocketbook?
FDR'S FIRESIDE CHATS
First Inaugural Address
On March 4, 1933 Roosevelt gave his first inaugural address. He faced a world in which France and England were nationalizing sick industries, Germany and Italy were racing towards military dictatorships, and, at home, Americans were questioning capitalism.

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1.0% Q2 GDP   |   5.52% avg. 30-year mortgage  |   9.4%Unemployment
                          
GM Subsidizes Dealers Waiting on Government Money ... With Government Money

10:08 AM ET: In a shell game of find-the-taxpayer-money, General Motors is temporarily subsidizing its dealers, which are waiting on late Cash for Clunkers payments from the government.

Nice, but here's the thing: GM is 60 percent owned by the federal government, after exiting from bankruptcy.

The Post's Dana Hedgpeth wrote here today that auto dealers are grumbling, having made all these Cash for Clunkers sales and have yet to see their $4,500-per-car payment from the government.

So this new GM program, which you can read about here, is essentially moving taxpayer money from one pocket to another.

-- Frank Ahrens
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RECENT POSTS Markets Shake Off Jobless Claims News, Open Slightly Up New Jobless Claims Higher Than Expected Markets on Wild Ride Today GM Announces First Production Hike, Worker Rehire Since Bankruptcy Target Earnings Beat Expectations
DISCUSSIONS
More Discussions
CRISIS 101
Examining the history of today's financial crisis: How risky mortgage lending fueled the housing market boom and subsequent collapse, in turn spurring more than $500 billion in losses at U.S. banks.
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THE MARKETS
DJIA S&P 500 NASDAQ Market Index Charts
LATEST NEWS
MULTIMEDIA
Origins of the Crisis
A narrated slideshow examining the history of the financial crisis.

Recession Voices
A series of video stories about the economic downturn's impact on people and places.


The Hearing
Simon Johnson and James Kwak moderate a discussion about economic policy.


Graphic: It Adds Up
$7.8 trillion committed in loans, investments and guarantees.

POST BLOG ROLL
OPINIONS
PEARLSTEIN
SAMUELSON
The Big Money Party Poopers Did Wells Fargo save any money by canceling its lavish event?
The Way We Beg
Depression Diary, Part 5
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