- Doesn’t Bear Sterns hiding of their problems while continuing to sell mortgage-backed securities as if all was well constitute fraud?
Question/Comment: Bear Sterns did not go under overnight. Unless they are incompetent, the executives must have known what was happening for at least a year, maybe longer. So how come they took hundreds of millions in salary and bonuses (maybe … Continue reading
Federal Reserve Chairman Ben Bernanke defended the agency’s rescue of Bear Stearns in a Senate hearing Thursday, saying the move was necessary to prevent further impact on the general economy. Financial experts weigh the Fed’s response to recent economic turmoil. Continue reading
Federal Reserve Chairman Ben Bernanke on Wednesday told Congress that while the current downturn might be temporary, “a recession is possible.” Continue reading
Federal Reserve Chairman Ben Bernanke warned Congress Wednesday that the U.S. economy may continue to shrink — signaling the possible start of a recession — in his first testimony since the Fed approved the bailout of investment firm Bear Stearns. Continue reading
The Bush administration announced plans to overhaul U.S. financial regulatory structure Monday, the latest in a stream of stories on economic woes. Representatives from the Clinton, McCain and Obama campaigns discuss their candidates’ views on the ailing economy. Continue reading
- I’ve heard the Federal Reserve is not actually federal and has no reserves, it’s a private banking cartel that looks out for the interests of Wall Street, not most Americans.
This installment’s “guest vetter” is Larry Koltikoff with Boston University. He is perhaps the best-known American economist on the issue of intergenerational conflict over entitlement spending on programs like Social Security and Medicare. You can check out his full bio … Continue reading
In the wake of the subprime mortgage crash and the bailout of a prominent U.S. investment firm, Treasury Secretary Henry Paulson on Monday outlined an administration proposal for increasing the regulation of financial institutions and markets. A Treasury official and other financial experts discuss the proposed changes. Continue reading
The Bush administration unveiled the most sweeping plan to overhaul the U.S. financial regulatory system since the Great Depression on Monday, but admitted that the next president’s administration will need to hammer out many details with Congress. Continue reading