President Bush: Automakers to get $17.4B

The Bush administration came to the rescue of the U.S. auto industry Friday, offering $17.4 billion in loans in exchange for concessions from the deeply troubled carmakers and their workers.

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Obama: A Continued Economic Decline Is Not Acceptable

Barack Obama, addressing the press for the fifth straight day, offered perhaps his gloomiest assessment yet on the current economic situation.

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Auto bailout talks COLLAPSE in Senate, Bill fails.

A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts.

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New Deal: Business likes Obama plan

Big business is lining up to support President-elect Obama’s plan to stimulate the economy with the biggest spending spree on roads, bridges and other infrastructure projects since the Eisenhower administration.

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Bailout watchdog confirmed by Senate

Senate drops opposition to Neil Barofsky's appointment as TARP auditor.

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Obama Says U.S. Economy Will ‘Get Worse’ Before It Recovers

Dec. 8 (Bloomberg) -- President-elect Barack Obama said the U.S. recession will worsen before a recovery takes hold and that he will offer a plan to boost the economy “equal to the task” without worrying about a short-term widening of the budget deficit.

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GM, Chrysler warn Congress of doom

In a series of grim reports, General Motors Corp. and privately-held Chrysler LLC told lawmakers they will be in serious peril by the end of this month and certainly the first quarter of 2009. Given GM’s size, its failure could pull down Ford Motor Co. despite its better cash position.

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Auditors fault Treasury oversight of bailout funds (AP)

The government must toughen its monitoring of the $700 billion financial bailout to ensure that banking institutions limit their top executives' pay and comply with other restrictions, federal auditors said Tuesday in the first comprehensive review of the rescue package.

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The death of America as we know it.

We need to abandon the antiquated notion that corporate executives are entitled to millions of dollars without being held accountable for their actions because it's killing our economy.