Green Options » $700 billion bailout

Introducing Obama’s Economic Team for A Sustainable America

Reenita Malhotra — Mon, 24 Nov 2008 19:32:14 +0000

After Obama announced plans for an aggressive, two-year economic stimulus package, President-elect Barack Obama has selected the A Class Economic team that will help him to “do what’s necessary” to fix the economy.

“Vice President-elect Biden and I have assembled an economic team with the vision and expertise to stabilize our economy, create jobs, and get America back on track. Even as we face great economic challenges, we know that great opportunity is at hand — if we act swiftly and boldly. That’s the mission our economic team will take on,” said President-elect Obama.

The economic team members announced today are listed below:

Timothy F. Geithner, Secretary of the Treasury

Obama has chosen New York Federal Reserve Bank President Timothy Geithner — who rose to prominence earlier this year as a key official in shaping the US government’s financial rescue measures — to be Secretary of the Treasury.

Geithner played a pivotal role in the intense negotiations which took place before Lehman Brothers went bankrupt, and also helped forge the deals involving AIG and JP Morgan. He regularly speaks about the need for major reforms in the financial system in order to avoid further turbulence. Before joining the Federal Reserve of New York, he worked for the International Monetary Fund. He was also the Treasury’s under-secretary for international affairs, from 1999 to 2001.

Read more of this story »

5 Tips To Encourage Employees To Go Green At The Workplace

Reenita Malhotra — Tue, 18 Nov 2008 14:11:58 +0000

Does The Credit Crunch Help Or Hurt The Issue of Climate Change?

Reenita Malhotra — Tue, 07 Oct 2008 17:17:13 +0000

Whether the global credit crunch will actually help or hurt the search for solutions to climate change is becoming a debatable issue.

Currently, the issue of climate change appears to be on the back burner as governments are focused on the financial problems that have shaken the global economy. It could be several months before politicians return to focusing their attention on long term problems like global warming.

Read more of this story »

Green Economy Will Rebound Faster From Financial Turmoil

Reenita Malhotra — Sun, 05 Oct 2008 09:17:21 +0000

The green economy shows signs of rebounding faster than others shaken by the global financial turmoil. There are several indicators pointing to the fact.

Government Guaranteed Revenues for Large Renewable Energy Players

Unlike other industries, renewable energy has government-guaranteed revenues. However it is likely that as the credit crunch plays out, the re-bounders will be big utilities who are not reliant on banks for short term loans rather than start-ups who do.

Read more of this story »

$700 Billion Bailout Includes Tax Credits For Renewable Energy Industries

Reenita Malhotra — Sat, 04 Oct 2008 23:18:40 +0000

Given the hue and cry that has been unleashed in America with regard to the bailout, there is finally good news for the renewable energy industry. The Emergency Economic Stabilization Act of 2008, passed by the House of Representatives with a vote of 263 to 171, and signed into law by President George Bush immediately afterwards, extends investment and production tax credits for the wind and solar industries. The extensions will be partly paid for by a change in the tax code for the oil and gas industry.

>>More on renewable energy tax credits in Congress

Read more of this story »

Bush Plays the Joker in The Dark Knight Bailout (VIDEO)

Jerry James Stone — Thu, 25 Sep 2008 22:48:39 +0000

This post contains additional media. Click here to view the full post.

Thank you getthebigpicture.net. Video source: MBelinkie on YouTube

Nothing Sustainable about a $700 Billion Bailout Plan: Why not MADE IN AMERICA?

John Ivanko — Wed, 24 Sep 2008 16:28:06 +0000

There’s nothing sustainable about the $700 billion Federal bailout plan for the decomposing financial sector of the US financial system. Americans know it, judging by the outpouring of objections sent to US legislators and reflected in national polls this past week.

According to various estimates by experts in the financial industry, the proposal to let the government buy bad assets from banks range from $500 billion to $1 trillion. Hank Paulson, Treasury Secretary, and Ben Bernanke, Fed Chairman, are asking for $700 billion – for now.

Keep in mind that this is ON TOP OF the costs already incurred for various government actions this year, including, but not limited to:

* up to $85 billion for AIG
* up to $29 billion to fund JPMorgan’s takeover of Bear Stearns
* up to $200 billion each for nationalization of Fannie Mae/Freddie Mac
* as much as $50 billion to insure money market funds
* up to $25 billion for special loans extended to GM and Ford

Let’s not forget the billions of dollars in expenses to help those in flooded or hurricane-destroyed areas – so recent that the costs aren’t even in for the damage done from Hurricane Gustav and Hurricane Ike. There’s plenty of other federal funds flowing to counties throughout the US that were declared federal disaster areas in 2008 – like in Vernon County, Wisconsin, where we own a silviculture operation.

Read more of this story »