A day after President Obama announced he would stand by his man, Tom Daschle, the nominee to head the Health and Human Services Department, has withdrawn his name for consideration. His abrupt decision left everyone from reporters to the Obama administration scrambling. In the end, President Obama made the media rounds last night taking full responsibility for the situation. For more we turn to Todd Zwillich of Capitol News Connection in Washington, D.C.
Congress is currently debating the possibility of bankruptcy reform, a measure that may come too late to save companies such as GM, but what about the little guy who is being crushed by personal debt? Does the legal insulation meant to protect the American worker still function in this economic climate? Does filing for bankruptcy in our current economy offer relief? Alvin Hall joins Adaora and Todd with some advice that might make you pause before considering declaring bankruptcy.
"People always talk about when the revolution comes, this may be the year that the revolution comes in credit cards." — Alvin Hall on the rise in bankruptcy filings and the need for personal economic reform
The latest economic news is a forecast for another rough week for Americans. American companies in the goods and services sector continue to cut jobs while analysts are looking to new home sales remaining flat and a continued devaluing of the housing market.