Shockingly poor financial management at General Motors and Chrysler weakened their case for a federal bailout, but officials feared letting them collapse, the former head of a government auto task force said Wednesday. ...more

October 21, 2009

White House economic adviser Larry Summers is holding out hope that Chrysler can stay out of bankruptcy court. ...more

April 26, 2009

President Barack Obama says he cannot "govern out of anger" just because of public outrage over bonuses paid at financial institutions kept afloat by taxpayer dollars. ...more

March 23, 2009

Lawrence Summers, President Barack Obama's closest economic adviser, broke a long public silence Friday, asserting that today's economic problems stem from an unsustainable financial model and defending heavy deficit spending as a necessary evil to restore the economy. ...more

March 14, 2009

Turning more upbeat, President Barack Obama said Friday his administration is working to create a "post-bubble" model for solid economic growth once the recession ends. He said that means the days of overheated housing markets and "people maxing out on their credit cards" are over. ...more

March 14, 2009

Turning more upbeat, President Barack Obama said Friday his administration is working to create a "post-bubble" model for solid economic growth once the recession ends. He said that means the days of overheated housing markets and "people maxing out on their credit cards" are over. ...more

March 13, 2009

Throughout 2008, Larry Summers, the Harvard economist, built the case for a big but surgical stimulus package. Summers warned that a "poorly provided fiscal stimulus can have worse side effects than the disease that is to be cured." So his proposal had three clear guidelines. ...more

February 1, 2009

One day after the nation's unemployment rate jumped to a 16-year high, President-elect Barack Obama on Saturday again raised the estimate of how many jobs would result from his economic recovery plan, saying it would create or save 3 million to 4 million jobs, nearly 90 percent in the private sector, by the end of 2010. ...more

January 11, 2009

Sarah Palin lost the election, but for a connoisseur of quotations, she's a winner. The Republican vice presidential candidate and her comedic doppelganger, Tina Fey, took the top two spots in this year's list of most memorable quotes compiled by Fred R. Shapiro. ...more

December 14, 2008

Eager to calm economic anxieties, President-elect Barack Obama is rolling out an economic vision that will require congressional cooperation even before he settles into his new desk in the White House's Oval Office. ...more

November 24, 2008