Economic crisis, but not for the rich


This satiric video from the USA says about itself:

President Bush is asked to compare his “Pell Grants For Kids” program, to his “Tax Cuts For Millionaires” program.

Read more about it here.

USA: The Obama administration has begun closed-door talks with congressional leaders of both parties on the extension of the Bush tax cuts [for the rich]: here.

USA: Flashback: 1941’s top earners taxed as much as 73%: here.

The US Federal Reserve on Wednesday posted details of its multi-trillion-dollar “shadow bailout” programs, showing that nearly every major US financial institution benefited from billions in unreported government loans: here.

Detroit media celebrates recovery of auto industry profits: here.

Loss of jobless benefits could be serious blow to U.S. economy: here.

The devolved administrations of Scotland and Wales have announced draft budgets detailing plans to implement their share of the £83 billion in spending cuts outlined by the Conservative-Liberal Democrat government: here.

Britain: Aviation union Prospect today condemned a decision by air traffic control service Nats to pay £20 million in interim dividends to shareholders while workers suffered a pay freeze: here.

Ireland’s rescue package: Disaster for Ireland, bad omen for the Eurozone: here.

Despite claims that Australia is immune from the global financial crisis, non-farm GDP fell in the third quarter of 2010, underscoring the economy’s vulnerability to worldwide volatility and any slowdown in China: here.

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