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U.S. Financial Tribulations

As the number of investment banks on Wall Street continues to shrink, questions about the U.S. government response to the credit crunch continue to grow. NBR Washington bureau chief Darren Gersh examines U.S. Treasury Secretary Henry Paulson's response to those questions and takes a look at the broader impact the financial sector mess.



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Related NBR Stories & Links

• 09-12-08: Lehman's Fate Remains a Mystery
• 09-08-08: The Government Takes Control of Fannie & Freddie
• 07-29-08: Merrill Lynch Dumps Mortgage Related Bonds
• 06-03-08: New Concerns About Lehman Brothers' Liquidity
• 03-26-08: Treasury Secretary Henry Paulson Calls for Closer Investment Bank Regulation

External Links/Articles*

• American Enterprise Institute (AEI)
  The AEI is a private, nonpartisan, not-for-profit public policy research institute. AEI economist Vincent Reinhart is interviewed in Darren Gersh's report. This links to a July 22, 2008 short report published by AEI and authored by Reinhart and others. The report, which examines how the government is handling the financial crisis, is titled, "False Notes from the Fed, the Treasury, and the SEC."
• Lehman Brothers (PDF Document)
  Investment bank Lehman Brothers issued this press release on September 15, 2008. The release is titled, "As Previously Announced, Lehman Brothers Holdings Inc. Filed Chapter 11; No Other U.S. Subsidiary or Affiliate, Including Its Broker-Dealer and Investment Management Subsidiaries, was Included in the Filing."
• Merrill Lynch
  Investment bank Merrill Lynch issued this press release on September 15, 2008. The release is titled, "Bank of America Buys Merrill Lynch, Creating Unique Financial Services Firm." The release is also available on the Bank of America website.
• Peterson Institute for International Economics
  The Peter G Peterson Institute is a "private, nonprofit, nonpartisan research institution devoted to the study of international economic policy." The institute's deputy director, Adam Posen, is interviewed in Darren Gersh's report.
• U.S. Department of Treasury
  This links to a September 14, 2008 press release issued by the U.S. Department of Treasury. The release is titled, "Paulson Statement on SEC and Federal REserve Actions Surrounding Lehman Brothers."

*Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.