November 27, 2008
Re "America's muscle: Detroit steel," Opinion, Nov. 23 Every time the bill comes to renew my subscription to The Times, I wonder if this is the time to cancel -- then I come across an article such as Ellen Slezak's, and I renew. The story she tells reminds us of the importance of the auto industry to families across America and the decent future for them that the bailout will help ensure. I support the bailout, although I feel it must come with new ideas. For example, the bailout should subsidize buying up American-made SUVs and replacing them with high-gas-mileage, low-pollution station wagons -- possibly hybrids.
March 22, 2013 |
ATHENS -- Racing against time and short on choices, Cyprus on Friday moved to vote on yet another bailout formula its government cobbled together to secure a $13-billion international lifeline that will keep its weak banks afloat and avert a devastating default. Failure to produce a viable bailout scheme by Monday will force the European Central Bank, according to an ultimatum it issued earlier this week, to stop funneling billions of dollars into Cyprus' cash-strapped financial system, leaving the island nation to fend for itself.
November 26, 2008
Re "U.S. rescues giant Citigroup," Nov. 24 Your article underscores the need for the federal government to tighten the strings on each bailout it proposes and hold all executives accountable for their bad decisions. Citigroup's collapse was caused by the big boys who speculated with risky but potentially profitable maneuvers. As a condition for the company to continue on, these sharpies need to go -- just as the dunderheads in the auto industry must also be purged. The new Obama administration must ensure that the hundreds of billions of dollars of taxpayer risk are not squandered further by greedy and incompetent management.
September 4, 2007 |
President Bush announced his intention last week to reach out a hand to the "many Americans" who "may have been misled" in the sub-prime mortgage market. Two days earlier, presidential hopeful Barack Obama called for fining "predatory lenders" to bail out "hoodwinked" families. L.A. City Councilman Richard Alarcon wants a $5-million revolving fund to "help homeowners on the verge of foreclosure."
March 28, 2013 |
As banks opened their doors Thursday for the first time in nearly two weeks in Cyprus, the odyssey over the nation's financial crisis and ensuing bailout took its newest turn. If you haven't followed the economic drama in this Mediterranean island, here's a recap of how Cyprus came to preoccupy the Eurozone. June 25, 2012: Cyprus seeks a bailou t after suffering heavy losses. Its banking sector was hit by the economic crisis in Greece; Cypriot banks had made loans to Greek borrowers that were worth 160% of the island's gross domestic product, according to the International Monetary Fund . Nov. 23: The European Union reports progress toward a deal with Cyprus.
October 30, 2012 |
TAMPA, Fla. - As Mitt Romney released more misleading claims about President Obama and the auto bailout on Tuesday, officials at GM and Chrysler weighed in and said the statements put forward by Romney about job losses and the offshoring of jobs were false - an unusual move for corporations, which tend to avoid entering the fray of partisan politics. Romney released a new radio ad in Ohio that continued to imply that Chrysler, the parent company of Jeep, had outsourced production to China, and in a new accusation, claimed that GM was moving 15,000 American jobs to China.