Question: I live in California and own California State Bonds. What happens to state bonds if the state goes bankrupt? Paul Solman: They stop paying, both interest and principal. That’s what a default IS. Last September 15, Lehman Brothers went … Continue reading
After General Motors announced plans to cut another 21,000 jobs and Chrysler reached a deal with United Auto Workers that may help the automaker avoid bankruptcy, a New York Times reporter provides an update on Detroit automakers’ latest efforts to stay afloat. Continue reading
Question: Wells Fargo just announced quarterly financials in very positive position. Do you think this is a really significant event? How should we evaluate the latest numbers? Paul Solman: Your guess is as good as mine, Sheldon. I’ll quote again … Continue reading
Paul Solman speaks to the founder of an organization funding creative public service ads on saving money. You can listen to the audio or read the transcript of the segment here.
A congressional panel has criticized the Treasury Department’s oversight of the $700 billion financial industry bailout. The panel’s report says the rescue funds have failed to alleviate the foreclosure crisis and the department has not kept a thorough record of spending. A senator explains the findings. Continue reading
Central banks around the world cut interest rates Wednesday in a joint effort to ease credit and spur growth, but a weak market response signaled the move failed to abet fears. Continue reading