Tag: recession

Hey, GOP: Don't screw up the economic recovery.

The good news: Americans have started borrowing again. The bad news: Americans have started borrowing again. Actually, it’s big news, whether good or bad, because it represents a major change in consumer behavior since the economy began tanking in 2008. It means that for whatever reason, borrowers have enough confidence to once again go into... Read more »

Hey, Obama, want to help small businesses? Just leave them alone.

This open letter is based on an interview I conducted with a contractor who’s desperately trying to keep his head above water. He isn’t named for obvious reasons. Dear President Obama, If you want to help small businessmen like you said in your jobs plan, it’s simple: Stop trying to help us. I’m a contractor;... Read more »

Most Voters Oppose the Reelection of Anyone Who Voted for the Health Care Law, Auto Bailouts, Stimulus Plan

Mark Ralston/Getty Images / September 4, 2010 Unemployed Americans attend a job fair on the first day of the Labor Day long weekend in the City of El Monte outside of Los Angeles. US unemployment jumped to 9.6 percent in August, the Labor Department said, showing the recovering economy is still struggling to create jobs.... Read more »

Why not just give them the money?

Phil Velasquez / Chicago Tribune / A downtown sign touts a stimulus-funded road construction project. An Illinois congressman has introduced a bill to ban the signs, which he calls taxpayer-funded political propaganda. Now comes news that Los Angeles Public Works Department spent $70 million in our stimulus money to create seven private sector jobs and... Read more »

Tea Party started right here in Chicago

Did you think it started in some Alabama backwater or was conceived in the mind of a former Alaska governor? No, thank Chicago. The Sun-Times gives well-deserved recognition of the role that Rick Santelli, the CNBC reporter who reports from the floor of the Chicago Mercantile had in starting the Tea Party. A interesting and well-written story... Read more »

Big news; some home prices rising

Reports Crain’s Chicago Business: Home prices are rising again in some Chicago-area neighborhoods, in a sign that the local housing market is nearing the end of a devastating three-year slide. Single-family home prices rose in 56 of 253 Chicago-area ZIP codes last year, according to Fiserv Inc., which calculates the widely followed Case-Shiller Home Price Index.... Read more »

Can Chicago's socially-conscious (South) Shore Bank survive?

Let’s hope so. For decades, it has been filling the niche market of providing development financing for those communities most in need. Businesses, homes and non-profits in the neighborhoods all benefited. But I have to confess that I was always curious about how a bank could survive making loans to what other lenders considered to... Read more »

Barney Frank never learns

Barney Frank Rep. Barney Frank, the Massachusetts Democrat who did his part to engineer the home mortgage meltdown is at it again. It wasn’t enough that Frank, from his position as a powerful House committee chairman, pressured banks into making home loans to people who weren’t qualified. Now, his solution, is to pressure banks into... Read more »

A company promise made good

When it has become a popular pastime to smack business for all their bad deeds, here’s a company that needs to be commended. As reported by the Tribune: A year ago, Acco Brands Corp. started cutting employee pay in a bid to stem the flow of red ink and avoid mass layoffs at the supplier... Read more »

Feds creating new sub-prime mortgage market

Remember how all those greedy banks were blamed for creating the housing bubble because they too easily issued mortgages to families that couldn’t afford them? And how we all should have learned the lesson of how easy credit caused the recession? Well, get this. The Federal Housing Administration now is continuing the same kind of... Read more »
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