Guide to Bush-McCain Crisis, Week 3

Articles and Resources on the Economic Crisis

The week of September 29th, 2008 opened with the failure in Congress of the Bush bailout plan. Ongoing opposition to a Wall Street bailout without preconditions may have major repercussions. Read the latest articles below.

The week of September 22, 2008 has seen huge popular opposition to the Bush administration's bailout of Wall Street banks at taxpayer's expense. While stabilization of credit markets and banking sector is crucial, the smart choice is to pursue a solution that addresses the fundamental causes of the collapse and helps working families avoid further economic calamity.

The week of September 15, 2008 was a dramatic and unprecedented period in the world of high finance. The economic crisis is not over despite what some pundits and politicians have claimed. A series of government interventions have changed the map of banking and finance.

So what does it all mean? What will be impact of the Wall Street bankruptcies, bailouts and blunders on working people in this country and worldwide? What's the solution to the crisis?

Perhaps only time will tell the full extent of the impact. Needless to say, this week’s developments don’t bode well for the future. Here are some thoughts from contributors to the People’s Weekly World and Political Affairs and leaders of the Communist Party on the current economic crisis, the policies that got us to this point and the historical precedents.

We will update this resource list in the days and weeks to come, as the full scope of the crisis is better known.

Week of Sept. 29

Obama calls for 'middle class' bailout
by Joel Wendland
Oct. 3, 2008 – People's Weekly World

To bail, or not to bail?
by Teresa Albano and John Wojcik
Oct. 1, 2008 – People's Weekly World

OPINION: Finances and the current crisis: How did we get here and what is the way out? Part 2
by Sam Webb
Oct. 1, 2008 – People's Weekly World

Taking it to Wall Street: Rallies vs. bailout crowd 'the street'
By Libero Della Piana
Oct. 1, 2008 – People's Weekly World

Why the Rush
by Peter Zerner and Joel Wendland
Oct. 1, 2008 –

Obama Calls for Comprehensive Response to the Economic Crisis
Oct. 1, 2008 –

Financial Crisis, Bailouts, and the Real Economy, Speaking with Sam Webb
Sept. 30, 2008 –

How about a trickle-up bailout instead of trickle down
by Scott Marshall
Sept. 29, 2008 – Labor Up Front

Stock market drops 777 points as House votes down Wall Street bailout
by Joe Sims
Sept. 29, 2008 – People's Weekly World

Audio: Interview with Sam Webb, CPUSA
Sept. 28, 2008 – Political Affairs Podcast

OPINION: Finances and the current crisis: How did we get here and what is the way out?, Part 1
by Sam Webb
Sept. 28, 2008 – People's Weekly World

What the Banking Crisis Really Means
by Norman Markowitz
Sept. 2008,

International Responses

Bailing Out Capitalism
From The Guardian (Australia), Sept. 24, 2008

Bush's Self-criticism
From Cuban News Agency, Sept. 28, 2008

The End of the Illusion
From People's Democracy (India), Sept. 28, 2008

Time to Break with Casino Capitalism
From Akahata (Japan), Sept. 24, 2008

Week of Sept. 22

Editorial: Shock and Awe Revisited
Sept. 25, 2008 – People's Weekly World

$700,000,000,000 for what?
By John Wojcik Sept. 25, 2008 – People's Weekly World

Reject the 'Bankers' Strike': Groups Demand No Bailout Without Conditions
Sept. 25, 2008 –

Rescue Me!: What Else Could We Use the Bailout Money For?'
By Peter Zerner and Joel Wendland
Sept. 25, 2008 –

Barney Smith, Not Smith Barney
By Joelle Fishman
Sept. 24, 2008 – People's Weekly World

Save Main Street, Not Wall Street
By Communist Party USA
Sept. 23, 2008 –

Ramming Through the Bailout
By Sam Webb
Sept. 23, 2008 –

Wall Street Bailout: Not Without Preconditions
By Joel Wendland
Sept. 23, 2008 –

Week of Sept. 15:


Bailout Main Street

Sept. 19, 2008 – People's Weekly World

Economic Meltdown
By Joel Wendland
Sept. 19, 2008 –

Wall Street meltdown wallops Main Street
By Phil Cadman
Sept. 19, 2008 – People's Weekly World

From Archives:

Is Freddie Mac really never coming back?
By John Wojcik
Sept. 8, 2008 — People's Weekly World

Got money?
By Marilyn Bechtel
Aug. 15, 2008 — People's Weekly World

Mac the Knife: Cut the Needy to Feed the Greedy
By Joelle Fishman
July 24, 2008 —

Interview with Doug Henwood, Left Business Observer
May 29, 2008 —


Time for a New Deal

by Norman Markowitz
May 29, 2008 —

Financial Crisis and Class Struggle
By Paulo Nakatani and Rémy Herrera
May 28, 2008 —

Foreclosures point to systemic crisis
By Denise Winebrenner Edwards
April 4, 2007 — People's Weekly World

Bailout goes to Wall Street, not Main Street
By John Wojcik
March 20, 2008 — People's Weekly World

Things Fall Apart: Wall Street and the Crisis of US Imperialism
By Joe Sims and Joel Wendland
March 2008 –


the Storm: the economic recession

Video interview with Sam Webb
March 10, 2008 — Communist Party USA

Unions tackle

housing, foreclosure crisis

By John Wojcik
March 9, 2008 — People's Weekly World


with Art Perlo, CP Economics Commission

Feb. 15, 2008 —

To fix economy

put working class first

By Teresa Albano
Jan. 24, 2008 — People's Weekly World

Banks bilk

homebuyers, Black, Latino families hit hardest

By Tim Wheeler
Jan. 19, 2008 — People's Weekly World

A look behind

the housing crisis

By Art Perlo
Aug. 30, 2007 — People's Weekly World

Mortgage crisis

stoked by incredible greed

By Susan Webb
Aug. 16, 2007 — People's Weekly World


thievery, a new political moment

By Sam Webb
July 20, 2002 — People's Weekly World

En Español:

Salvemos al pueblo, no a Wall Street
por Partido Comunista de Estados Unidos de América (PCEUA).
Oct. 2, 2008 – Nuestro Mundo

¿Rescate económico o no rescatar?
por Teresa Albano y John Wojcik
Oct. 2, 2008, Nuestro Mundo

La crisis

económica y las viviendas

Por Art Perlo
26 de Julio, 2008 — Nuestro Mundo

La crisis economica hoy: Entrevista con Douglas Henwood
29 de Mayo, 2008, –